Frequently Asked Questions
Now that I opened my iGolder account, how do I start accumulating gold?
You may receive gold payments to your account from
other iGolder members, or you may also purchase gold
from our independent exchange
providers. iGolder does not offer direct
account funding or withdrawal options for
fiat currencies.
If you own physical gold bullion and wish to make a
gold bailment,
please contact us.
Can I open multiple iGolder accounts?
There is little need to have multiple accounts
because your existing iGolder account can hold an
unlimited number of sub-accounts. If you
really need an extra account, feel free to read
Opening Multiple
Accounts.
Do you have an affiliate program?
No.
An affiliate program is a privacy breach, in addition of
increasing the fees to all our members. We want our
members to refer others because they get the best service
at the lowest price, not because they hope to get rich on
the backs of others.
Learn more
why we do NOT have an affiliate program.
Should I own gold?
If you have serious doubt about owning gold, perhaps the
answer to you is no. Gold is a
commodity and, like any commodity, its value fluctuates
with respect to other commodities and
fiat national currencies. Also, gold
does not give any dividends nor bear interests, and often
has costs associated with its safekeeping. On the
other hand, gold is a truly liquid asset and always has
some intrinsic value regardless of price fluctuations. The
reason we save and invest is for our future security.
No one knows exactly what the future will bring, and it is
important you don't put all your eggs in the same basket,
including having all your assets in the same country or
currency. No society is immune from war,
hyperinflation, or currency exchange controls. Gold
can always be looked at as a "last resort investment".
Is iGolder 100% backed by gold?
Yes we are 100% backed by physical gold bullion.
Every milligram of gold in your iGolder account has
corresponding fine gold in our vaults. We do not hold any
kind of "gold ETF", "gold investments", "other precious
metals" or "risk-free financial securities".
We do not purchase
Perth Mint Certificates because we suspect that the
Perth Mint is practicing fractional
gold reserves for their certificates, thus we
consider such certificates paper gold.
At iGolder, we only deal with physical gold bullion. There is no
substitute for the yellow metal - not even the
hollow promise of some unknown politician!
Can I get my gold physically?
You are welcome to redeem your gold bars. You need a
minimum of 1 kilogram in your account to redeem
directly from iGolder, otherwise feel free to visit
a coin shop willing to exchange your digital gold
into physical coin(s). At iGolder, everyone can redeem their gold at the same time - we are
solvent! Please contact us if you wish
to
redeem your kilobars. We have agreements
with bullion dealers and can make arrangements.
Where is the gold stored?
For security reasons, we do not disclose the
location where the gold is actually stored. No
gold can be safe from government confiscation,
regardless of the legal structure, and there is no
way to sugarcoat this stark reality.
The government has a long history of stealing gold
from private citizens, and if history can be used as
a guide, it would be wise for us to completely
distrust politicians and bureaucrats.
Disclosing our gold holding would be as foolish as
waving a
red flag at a mad bull, especially at a time when
the government is desperate to fund its bloated
bureaucracy.
Please bear in mind that the most successful
gold payment systems were shut down by government
officials thugs
confiscating stealing the gold. The
owners of such payment systems never defaulted,
and were honoring
their business obligations until the government
robbed the gold.
The other gold payment systems that went down were
outright investment scams, and disclosing the actual
gold holding would have not changed anything.
Anyone with a basic understanding of a
high-yield investment program (HYIP) knows, soon
or later, a pyramidal scheme is bound to collapse,
and genuinely disclosing the gold holding cannot
prevent such collapse.
By the way, any individual endorsing or monitoring an HYIP is a liar promoting
an investment scam. Why? Because it is
impossible to operate an HYIP without lying about
the performance of the "investment"
program. The HYIP
monitors (promoters) are getting rich by cashing out the wealth
"invested" by the new participants joining the
scheme. Every pyramidal scheme
will eventually collapse, defrauding the bulk of investors
while making a few at the top of the pyramid very
rich.
To ensure a robust network, our gold is stored at
multiple locations in secure private vaults. We do
not put all our "eggs" in the same basket
and we have our gold insured. We (the founders of iGolder) invested a
lot of our personal savings to bootstrap iGolder, and
we intend to keep all our retirement savings in gold
with iGolder. We do not trust any government retirement plan, no more than their paper promises
(fiat currency).
The current monetary policy of every central bank is
leading us to runaway inflation, and perhaps
hyperinflation. What good is having millions of
dollars/euros if one loaf of bread costs a billion?
In Zimbabwe, a loaf of bread costs tens of trillions
(yes, trillions). Unfortunately, no country is
immune to the inflation tax, and what our
politicians are doing is a textbook example of a
Keynesian financial disaster.
We created iGolder as a response to this threat
because there is a big risk our paper money may
worth less than toilet paper. Having destroyed
their currency, the government henchmen will have to
seize physical goods (including gold and silver) to
pay their salaries and give themselves generous
performance bonuses. Keeping the location of
our gold private gives us a layer of protection
against such institutionalized theft. We
have no intention of having our gold stolen by
bureaucrats for personal greed, no more than having our gold
stolen by an ambitious politician wishing to
purchase a few extra votes to secure his election.
Don't put all your eggs in the same basket! At iGolder, we
believe in diversification and we recommend the
following businesses for storing your gold:
| Business |
Pros |
Cons |
Pecunix |
Pecunix, established in 2001, has a solid history for its reliability.
Pecunix is considered the safest DGC among our
independent exchangers.
Pecunix has no storage fees. |
The login process is time-consuming and cumbersome (that's the
annoyance for having high security). |
GoldMoney |
GoldMoney has a long established reputation
and integrity,
holding more than USD $500 million
worth of gold.
GoldMoney has low storage fees (0.15% to 0.24%).
GoldMoney's founder James Turk
is an expert in gold investment and gold politics, having
written an astonishing number of articles regarding gold ownership. |
You need to fill a 30-page questionnaire to open an account
at GoldMoney. You do not need to provide your fingerprints
and DNA yet!
GoldMoney does not allow independent exchangers,
therefore you have to deal with GoldMoney only. |
BullionVault |
BullionVault has extremely low storage fees (0.12% per year).
BullionVault is an excellent vehicle to purchase gold as an investment.
BullionVault is very secure (because you cannot trade your gold with anyone)
Paul Tustain, founder of BullionVault, is also the editor of
galmarley.com, a valuable
source regarding gold research: supply, demand, production
issues, politics, outlook, economic context, how the market
works, the smart way to invest, etc. |
Unlike Pecunix, c-gold and GoldMoney, BullionVault is not a payment system, that is, you cannot transfer your gold
ownership to someone else.
You can only sell your gold and have the funds wired back into the same bank account as you
funded your gold purchase. |
By the way, the decision to keep our gold holding
completely private was not an easy one. We wanted
to have transparency, however transparency and
privacy are mutually exclusive. Given the current
political climate and the deteriorating economy, we
have chosen the later - privacy. We are well aware
our policy to keep our gold holding secret may turn
you off, and you may decline doing business with
iGolder. We respect your decision, and beg you to
understand our distrust in government. If you still
trust the politicians and the bureaucrats, we have plenty of history
books to recommend. As a start, reading The Nature of the State (download
MP3) may open your eyes about the criminal
nature of all governments.
What proof can you provide iGolder is not a scam?
The ultimate proof is exchanging your electronic
gold into physical gold.
At iGolder, we do not practice any fractional gold
reserves. Everyone may
redeem their
electronic gold into physical gold bullion. There is no
substitute for having physical gold within arm's
reach. Ultimately, if you can't touch your gold, you
don't have it. Our mission is having as
many people to physically own gold. Therefore, keep in
iGolder what you need for your business operations,
and exchange your extra digital gold into physical
gold bullion or gold coins. We prefer people
holding the gold themselves because it makes us less
attractive for gold theft.
The more people holding physical gold, the less power the government has to
exert tyranny. Remember, the government needs
money to pay its bureaucracy and purchase votes to
legitimize its criminal activities. When
a currency gets destroyed, the inflation tax
(printing money) no longer works to pay for
government expenditures. At this point, the
government must seize physical
goods, such as gold and silver, to maintain its
level of expenditures. This is what happened
on April 5, 1933, when President Franklin Delano
Roosevelt betrayed The People by violating the
Constitution he sworn to uphold and defend. FDR
confiscated stole more than 500 tons of gold
from honest law-abiding citizens using the
Presidential Executive Order 6102
ruse.
Unfortunately history is likely to repeat itself, as
politicians are insatiable for power.
Bear in mind it is far more expensive for the government to raid every house than
it is to raid
a single vault where all the gold is stored.
If the gold is scattered all over the country, at
least we will give the government a run for stealing
our gold. The more expensive it becomes for
robbing gold, the less wealth (gold) is
available in the hands of politicians to make
electoral promises, thus forcing the government to finally make budget
cuts.
How do I protect myself against scams?
There is no such thing as a fool-proof protection against scams.
Scammers are very creative and use a combination of
tricks to deceive their victims. Almost all scams are operated by registered
businesses appearing legitimate. The best
scams are legal entities operated by the government
itself.
FormFormer Nasdaq Chairman Bernard Madoff would make Charles Ponzi proud, however
compared to the pyramid schemes run by the
government, he is like a teenager stealing an apple
from a fruit merchant as opposed to a ruthless
tyrant stealing the lives of slaves. Unlike
government social security, nobody was forced to
invest into Madoff's scam. Those
investors idiots who trusted Madoff were
driven by greed. Greed suspends good judgment,
and common sense flies out of the window. By the way, Madoff operated a legitimate investment hedge fund
supervised by the Securities and Exchange
Commission. The SEC routinely audited Madoff's
investment company and found nothing wrong. Obviously the SEC discovered
"a
problem" when the free market exposed the $50-billion
scam - and the pyramidal scheme collapsed. Oops, too
late! Again, the government was useless at
protecting investors from Madoff's scam. In
fact, the SEC made it worse by reassuring
investors about the legitimacy of Madoff Investment
Securities LLC. Feel free to read
Madoff and
the Failure of the SEC and
The SEC
Makes Wall Street More Fraudulent for further
details.
Here are some guidelines to spot a scam:
- Learn about the founders and principals of the business. If the
founders have any history of fraud, then a scam is just a disaster waiting
to happen. Regardless of the legal structure of a
business, if the principals are crooks, soon or later, there will be fraud.
This is the same as hiring a dishonest employee. For instance, a
dishonest janitor will use keys to access material and/or data and sell it
to the highest bidder. A dishonest CEO will create bogus contracts to
drain corporate funds to his personal account. Remember there
is no substitute to honesty. We encourage you to investigate who are
the founders of iGolder. You will be pleasantly surprised about your
discoveries.
- If it sounds too good to be true ... it probably is. You know a
payment system is a scam when offering high returns (anything higher than 1% per month). For instance, OSGold was offering monthly returns
ranging from 30% to 45%. How can such high returns be possible?
Simple, the return was paid using the funds from new participants.
When the deposits made by new participants started to slow down, the
fraudsters ran away with the money exposing the scam. Even in the case
the founders were honest, the pyramid scheme was bound to collapse because
such high returns are impossible to accomplish. I do not believe OSGold was ever backed by gold bullion. On their website, OSGold claimed their assets were backed by 50% of gold certificates,
50% by gold bars and 50% by cash. How can it be possible to have a payment
system backed with more assets than its deposits, while giving away at least
30% of its capital each month? The answer is simple: it is a
scam.
- Any gold based payment system offering any interest on gold is a
sign of a scam because such payment system cannot be backed by physical
gold. At best the gold has been leased, thus earning interest from a
borrower. Such gold lease is no longer physical gold but
paper gold
with a counter-party risk, where the borrower may default or become insolvent.
The other scenario is the gold has been sold, and the money
from the gold sale has been invested in
other securities, currencies or in the stock market in the hope of making a
profit. If the gold has been sold, then it cannot be backed by
physical gold because there is no gold at all. Please
bear in mind gold bullion does not bear any interest and has fees
associated for its safekeeping. This is the reality, and anyone saying
otherwise is a liar.
- Listing the serial numbers and location of gold bars does not constitute
any insurance against a scam. The gold may be there today, and gone the
next day. Also, the same gold bar may have been leveraged many times in the
system, meaning not everyone may redeem their gold bar.
- Charles Ponzi's scheme lasted less about 6 months. Since I
became aware of online pyramidal scheme in 1999, I have never seen a pyramid scheme
lasting more than one year. I was fortunate to never get involved, by
thinking rationally, despite the publicity and testimonials on
forums. If you think an "investment program" is
legitimate, wait at least a year before investing in it. If after a
year, the investment program is still running and you see no complaints, then
you have significantly reduced the risk of being scammed. If you are
not sure about iGolder, you are welcome to wait a couple years before doing
business with us. iGolder is here to stay.
- A pyramid scheme has a short lifespan. The promoters must find
creative ways to enroll people fast, typically using misleading
advertising and offering generous affiliate commissions. At iGolder,
we do not purchase any advertising and we have no affiliate
program. We are in no hurry.
- For the record, as of January 1st, 2009, I predict the
"investment project" www.PanaMoney.net
will go down before the end of the year. How can I be so sure?
PanaMoney is a HYIP, and by definition, all HYIPs eventually collapse.
The collapse will happen regardless of
the legal structure (Panama Corporation), business license from from the
Ministry of Commerce, flashy graphics, endorsements from
Ecommerce Journal and a friendly
interview with Fernando Montero, Director and President of PanaMoney
Technologies, Inc. Sadly,
the people at Ecommerce Journal are unable to spot this scam, and they will look
foolish when PanaMoney fails. PanaMoney is an
aggressive HYIP, promising daily profits up to 2.8%, which equals a yearly
return of 2,384,991%. Therefore someone investing $20,000 in the VIP
plan should have $476,998,316.54 by the end of his first year, and
$11,376,369,698,901.00 after only two years. Such non-sense is
impossible. By the way, the sum of $11.376 Trillions is more than the money
supply of United States Dollars, so unless PanaMoney is printing Dollars,
there is simply not enough Dollars available in the world to pay a sum of 11
Trillions. According to the
St-Louis
Federal Reserve, the MZM money supply stands at 9.173 Trillions as of
Decemember 2008. For comparison, Bill Gates is worth about
$58 Billions (2008), so the VIP investor would worth about 158 times Bill
Gate's net worth. Time will
tell if PanaMoney is a "successful forex trading system" or just another
successful scam.
- Scammers often use the words "risk-free
profits", "guaranteed", "proven"
and "certified". The truth is there is no
way to guarantee profits without the risk of
loss. With this in mind anyone who says
otherwise is a liar, and any company that
promises guarantee profits is also lying, and more than
likely, a scam.
- Scammers appeal to the illness of greed, targeting people addicted to
overconsumption and living beyond their means. Anyone living beyond
its means is, by definition, crippled with debts. Such people need to
find a quick way to get out of debt, so they can return to their addictions.
Scammers are well aware that, as they tailor their advertising to exploit
the greed of others. In their
product scam
advertisement, scammers assume their "investors" have debts. You will
see advertising messages such as "stop your financial crisis" or "picture
yourself debt-free". It is ironic to assume an investor has debt.
- A scam often has a low entry plan, such as "investing" $10. Of
course, the entry plan does not generate the same profits as the VIP plan,
thus inviting the victim to upgrade to a bigger plan. If an investment
was genuine, the profit return would be the same regardless of the amount.
If I buy shares of XYZ company, then I will get the same dividends per
share, regardless the number of shares I may own. I am not aware of
any company giving a higher dividend yield per share to investors having
more shares. Likewise, if the stock price goes goes up, then each
share goes up by the same percentage. It is amazing that a scam is the
only business model offering higher returns based on the amount invested.
- A scam has testimonials often written by the
very same people running the show, or by people
who joined the scheme and recruiting new
participants. Such phony testimonials often
include a link with their affiliate
ID. One cannot make a genuine testimonial
while being affiliated with the business.
The most absurd testimonials are from those
Internet marketing Gurus having no website (and
no contact information of course), yet making 6
figures per month promoting the get-rich quick
program.
- The biggest scams are not backed by gold; instead, they use the USD currency
because it is far more popular than gold bullion. For instance, AlterGold was using the USD, meaning the money was held in a bank account
(which to many is much safer than holding gold in a vault). Again,
regardless of the legal structure and the safety measures of the banking
industry, if the operator is dishonest, soon or later, he/she will find a
way to steal the money. As a reminder, the founders of AlterGold were
involved in HYIP before launching AlterGold. This statement says it
all.
To protect your computer against online attacks, feel free to read our
Online Safety and Security Tips.
Why should iGolder be successful while so many others failed?
Over the past decade, there has been countless failures in the payment
industry. The following examples are simply our opinions why we believe the following
payment systems encountered problems:
- Liberty Reserve. The Liberty Reserve
API was hacked and more than
$1 Million was stolen. At iGolder, we also have an API for
automating transactions, however we have
numerous security features preventing misuse. First, all accounts have automation
disabled by default, and you must manually enable automation on your
sub-account to use the API. When you enable automation, you get a
security token which is a password having 32 characters
in length. Such a password strength is
impossible to guess. You must also grant permission to the
IP address, authorizing a particular computer to use your API. As
a result, even in the case someone knows
your security token (your automation password), he/she will not be able to use
the API unless you grant access. Each time a new IP address attempts to
use the automation API on your account, you will see a
big warning when you login to
your iGolder account. At any time, you may re-generate a new security
token. To protect your account from API eavesdropping, the server
iGolder.com responds only to encrypted API requests - any unencrypted
request is ignored, so there is no danger you accidentally transmit your
security token unencrypted. We, the
founders of iGolder, are professional software developers, and we designed
iGolder with security in mind. We have been victims of having our
PayPal account hacked, where someone emptied our PayPal account. We
suspect the hacker was an insider working at PayPal, because PayPal refused
to give us any information, such as the IP address where the hacker accessed
our account nor any information about the recipient receiving our PayPal
money. After a lot of trouble, including being treated by PayPal as
the fraudsters, we managed to get back our stolen $5000. The morale of this story is we learned a lot from this
incident, including what could be done to make PayPal safer from [outside]
hackers. Unfortunately, PayPal is now a big bureaucracy and it is
a waste of our time to contact them. Instead, we use our experience to
improve the security and reliability of our website. For instance, we do not
outsource our development because we believe such activity represents a security
issue. Nobody knows the programmers who designed and developed
Liberty Reserve - even if the development was from a reputable company, nobody knows the
background of every employees who wrote the code. Any dishonest
employee writing any code represents a security breach. Besides our
development techniques utilizing the most advanced security technology, what
distinguishes iGolder from the crowd is our
First Transaction Protection Delay
which shields your account from an unauthorized transaction. Depending
on the amount transferred, the recipient has to wait from 24 hours to 72 hours
for the transfer to clear, plus you receive an email notification each time
there is transfer on your account, so you may stop the payment if you deem
unauthorized. This protection delay also give us time to notice something suspicious,
such as repeated failed login or an unusual activity pattern related to a payment, and freeze the account for
further investigation. Anonymous Members are limited to withdraw (out-exchange) a maximum of 100 gr of gold per year, therefore making it very slow to empty a large account.
Only our Verified Members have no
transaction limit, yet still subject to the First Transaction Protection
Delay. To further enhance our security, we developed the
iGolder Bot, capable to analyze
activity patterns. For instance, a large transfer initiated from a new
IP address to a new account raises suspicion, and may trigger an email
confirmation message. There would have been no such fraud if Liberty Reserve
had those security features in place.
- e-Gold. Technically e-gold is a Nevis
corporation in the Caribbean, however e-gold Ltd. operated their
business from the United States. The main office of e-gold Ltd and
OmniPay was and still is located in Melborne, Florida and their servers
are in Florida hence, they operated in US jurisdiction subject to US
financial regulations. Technically and legally correct, even
if the entire financial operation was located in Europe, if there are any US
customers (even one), the company is 100% subject to the State required
money transmitter licensing in that customer's state and federal Patriot
Act FinCEN registration. There were many scams, including
HYIPs, using
e-gold. The success of e-gold and OmniPay drew
attention to the bureaucrats, probably with a combination of numerous
scams, their reporting to the IRS via the 8300 Form and their
online statistics
. The government prosecutors
forced e-gold to sell the bullion behind 58 seized accounts and turn the
funds over to the government. Now, e-gold can't do business in any
State they don't yet have a money transmitting license. By contrast, iGolder is not a US
corporation, our servers are located outside the US, and we do not deal
with any money to avoid being subject to the financial regulations.
Keeping fraud at bay is our top priority, therefore not raising the
awareness of our presence to the government. For privacy,
have also chosen a jurisdiction friendly to gold ownership and without
any requirement to disclose our gold holdings.
- e-Bullion. After receiving numerous
complaints, e-Bullion has got an
"F" rating by the Better Business Bureau. Whatever such bad
rating was a setup by competitors, or a genuine non-existent customer
service is unknown, however we know such a bad rating is not good for
business. e-bullion for many years allowed wide use of the digital
gold by HYIP online investment Ponzi schemes and this brought the
attention of several government investigations as far back as in 2003.
Since e-bullion processed transactions though Goldfinger in house, there
was a very small separation between the e-bullion operation and
Goldfinger Coin & Bullion sales. e-bullion used Goldfinger bank
accounts. The government's attention arose from massive wire
transfers from Ponzi schemes into Goldfinger for the purchase of
e-bullion. James Fayed was taken into federal custody on a charge of
operating an unlicensed money transactions and is now charged in
connection with his wife's murder. The murder of Pamela Fayed did
not helped, especially after the FBI seized the assets (gold bars and
cash reserves), leaving the e-Bullion insolvent. This money
transmitting law is the same charge that e-gold received, Crowne Gold
received, NetPay.tv battled etc. Even PayPal way back in 2003 just
before their IPO, the government requested they get a money transmitting
license for at least one state (Lousiana) before going public because they had
a few scattered clients in Lousiana. Again, iGolder is not
in the US and does not handle any money and we are not operating in the
US jurisdiction. Therefore the US financial regulations do not apply to
iGolder in any way. Our excellence in our
customer service will make sure we never receive an "F" rating.
- Crowne Gold. Crowne voluntarily closed
in July 2008, mainly based on
the fact that they could no longer get a US bank
account or financial processing in the US, because of the nature of the digital gold
business at that time. Their US bank closed
them out (not seized, just booted them) and they
could not get another. One thing we know is they
have been harassed a lot by the government. Crowne Gold fought the IRS allegation of being a
tax evasion scheme and won, they fought the US
Federal governments allegation of being an
illegal money transmitter, and succeeded. The
IRS seized gold and silver in 2002 from Crowne
Gold, then again in 2005 they seized another two
bank accounts in their alleged claims. We
have great admiration towards the courageous people
at Crowne Gold for not folding or fleeing in
front of the Government. At iGolder, we do not
have any bank account, therefore no US bank can boot us out. To ensure
our network remains robust, we rely on our
independent exchange providers
to buy and sell iGolder. This way, if one
exchanger goes away, or has its bank account
closed, there are plenty others to pick up the slack.
- Liberty Dollar. The Liberty Dollar is real,
private currency that you can use instead of your familiar US dollars.
You can spend Liberty Dollars just like U.S. dollars. We applaud
the bravery of Bernard von NotHaus for creating the Liberty Dollar,
however we believe such private currency may bring legal trouble down
the road. On November 15, 2007, the office in Evansville, Indiana,
and Mint in Coeur d'Alene, Idaho, which produced the Liberty Dollar
was raided.
The US has laws against producing coinage and was now calling Bernard's
decade old creation 'coins'. On that day, the FBI Secret Service took all the gold, all the silver, all
the platinum and almost two
tons of Ron Paul Dollars. They also took all the files, all the
computers and froze their bank accounts. At iGolder, we do not
call your grams of gold Dollars and we are not trying to compete against
the Federal Reserve. We prefer to keep a lower profile and not
have the Federal Government as our enemy.
- 1MDC. 1MDC had no transfer fees and no storage fees, despite
being backed by e-gold which had transfer fees and storage fees.
Instead of charging storage fees, 1MDC was instead paying special bonuses
on large balances, up to
2.5% interest
per year. Also, 1MDC claimed to be a true offshore corporation, yet
backed by e-gold, an entirely US-based company, owned and operated by US
citizens, under the decisions of US courts. Because 1MDC had no
transfer fees, this type of payment system was the ideal conduit for
pyramid schemes. In our opinion, scammers and crooks were
using 1MDC extensively. On April 27, 2007, US government
ordered e-gold to freeze
and liquidate all 1MDC accounts, 1MDC became insolvent by default along
with all other e-gold accounts seized. At iGolder, we have a
strong policy against fraud to keep us away from legal trouble.
- OSGold. According to their
website in 2001, OSGold was a completely
Offshore International Gold Storage and Payment
System. OSGold was offering monthly
investment returns ranging from 30% to 45%. It
is amazing how many people got fooled by this
investment scam. According to a federal
judge, OSGold bilked investors out of more than
$250 millions.
- AlterGold. The payment system AlterGold was
operated by people involved in HYIP. Although the payment system
was not a HYIP, the operators/founders of AlterGold were crooks (see
articles
here and
here).
If you do business with crooks, be prepared to get scammed one day.
Feel free to run an investigation about
of iGolder and its founders. You will discover we have never been involved
in HYIP, gambling or any kind of fraud.
- There are many other investment programs and online payment systems
we believe are scams. We are not disclosing their names because we
fear litigation. We prefer to spend our time taking care of our
website and developing new features, than wasting our time and money in
courts.
In a nutshell, the gold payments were either shut down by the government,
or were outright HYIP scams. All gold payments shut down by the
government were turning a blind eye on fraud, such as allowing HYIPs,
therefore giving the government ammunition to seize their assets. At
iGolder, our top priority is combating fraud. First, we prohibit scams
such as HYIPs and Autosurf, and also prohibit
MLMs and
get-rich quick programs to
stay away from potentially fraudulent activities.
We also forbid gambling to protect ourselves. We believe people are
free to gamble, however without the involvement of iGolder. We want to
make sure we do not compete with state casinos and state lotteries clinging
for their gambling monopoly. This way, we greatly reduce the risks of provoking
our enemy - The Government.
Calling "The Government" our enemy may sound harsh, however it is
absolutely true regarding our business iGolder as well as for our personal
freedom. There are many powerful groups in the world today dedicated
to collectivism & socialized government for the simple reason that collectivism allows
them to exploit mankind. There are individuals who make a handsome and
permanent living out of the proceeds of despotism. If things are to
change, one must realize the extent to which the foundation of tyranny lies
in the vast networks of corrupted people with an interest in maintaining
tyranny. Those who are asking for more government interference are
asking ultimately for more compulsion and less freedom. According to George
Washington, "Government is not reason; it is not eloquence; it is force.
Like fire, it is a dangerous servant and a fearful master." No matter
how high-minded the government sounds, its only power comes from the end
of a gun. The government is not benevolent, it is an institution
breeding social conflict
by granting privileges towards special interest groups to divide and conquer
the population. There are few people with good intentions working for the government,
however the government itself is an institution of corruption and tyranny,
and there is no way of changing this because the nature of government is force. At
best the government is wasteful, and its actions always
impoverish its population. The State creates a constant class conflict
between the taxpayers and those who benefit from the taxes. People
dependent on the State want more government, thus coercing others wishing to
remain free.
"Do not give in to evil, but proceed ever more boldly against it."