When the Organization of Petroleum Exporting Countries meets at its Vienna headquarters on Friday it will be reminded of just how slippery the price of oil can be, and how little control the cartel has over its price.

Faced with a the possibility of a global recession and a sharp decline in energy demand, OPEC will discuss slashing oil production in an emergency meeting.

OPEC president Chakib Khelil, Algeria’s oil minister, said there could be a “significant” reduction in the organization’s daily output of 29 million barrels.

The organization considers the market to be oversupplied by two million barrels a day, but it has yet to agree on the size of the cut. This lack of agreement could hinder its efforts to control prices.

“Two million barrels a day is a very big number and it’s not that easy to do,” said Joseph Stanislaw, an energy expert and independent senior advisor at the consultancy Deloitte & Touche. “It’s possible. It’s doable. But the question is how long it takes them to agree.”

Stanislaw said it’s impossible to predict whether a production cut would actually stop the price plunge, given the severity of the economic crisis and the volatility in international markets.

“OPEC’s challenge is the challenge that the entire world is facing: all previous rationales of what makes prices go up or down are all up for grabs,” said Stanislaw. “No one knows how to establish a value anymore.”

Khelil told Dow Jones reporters on Wednesday that non-OPEC members would go along with the cut.

A recent statement from Deputy Prime Minister Igor Sechin of Russia - a non-OPEC nation vying for the top-producer title from Saudi Arabia - said on Wednesday that his country would set aside oil reserves in an attempt to control prices. But he said it would not cut production.

Manouchehr Takin, an analyst at the Center for Global Energy Studies, said a production cut probably would drive down prices, at least in the short term. But Takin added that oil prices are difficult to project because they are influenced by fluctuations in the international markets. But for the near future, he expects demand to continue to weaken.

“There will be even less demand in the coming months because the weakening in the global economy will continue,” said Takin.

Prices jumped by $2.80 to $74.25 a barrel on Monday, as investors first weighed a potential supply cut from OPEC. But these gains soon disappeared as investors bet that OPEC wouldn’t be able to control prices through cuts.

On Monday Deutsche Bank lowered its 2009 oil price forecast by $25 a barrel, to $60, saying the price could bottom out at $50, “We believe OPEC production cuts are inevitable in this environment, but the experience of 1998 and 2001 suggests the cartel will struggle to cut production as fast as world growth is slowing,” the bank said.

Oil was trading at about $68 a barrel on Wednesday. That’s less than half its summertime peak of $147.27, which was reached on July 11, 2008.

Oil prices are the lifeblood of the 13 member-nations of the Organization of Petroleum Exporting Countries, which produces 40% of the world’s oil supply and holds three-quarters of the proven reserves. Slumping prices can be alarming to influential OPEC members, such as its biggest producer, Saudi Arabia, where oil revenues are feeding a construction boom.

“Most [OPEC] members have planned massive infrastructure projects on the assumption that high oil prices will continue,” wrote Anas Alhajji, chief economist for NGP Energy Capital Management, in an email to CNNMoney.com. “If they cut production in the current environment, revenues will decline and they might not be able to finish these projects.”

One of OPEC’s biggest hurdles as it tries to stem the fall in oil prices is getting all its members to agree to a plan and to stick to it, said Alhajji.

“The final result depends on the size of the Saudi cut in the face of cheating by other OPEC members,” said Alhajji. He said OPEC’s prospects for boosting the price of oil are doubtful. “It seems that all they can hope for is to halt the decline in oil prices.”

CNNMONEY

Recently we have found a new managed Forex trading tool offered by PanaMoney Technologies, Inc. We could not help but get in contact with Mr. Fernando Montero, the President and Director of this company, to satisfy our curiosity and find out more about the trading system.

Q. Hello Mr. Montero. Please, introduce yourself and give us the idea of what your company has to offer to its clients.

A. Hi everybody. I’m Fernando Montero representing PanaMoney Technologies, Inc. We are pleased to offer the best in kind automated trading system allowing our clients to open managed Forex accounts on our website (WWW.PANAMONEY.NET) and by investing into the largest and fast-growing markets of the world to make the profits no other company’s are likely to offer.

Q. Could you be more specific about your company? How long has it been in the business?

A. PanaMoney Technologies, Inc. is a legally registered company with its principal place of business in Panama City, Panama, but as our business involves Forex trading and Internet our commercial interests spread far beyond any specific territory. Our actual address in Panama is 50th Street, Global Plaza Tower, 19th Floor, Suite H. PanaMoney is a rather young company, registered in March 2008, but it was established in order to unite the best professional skills and knowledge, large experience and enthusiastic efforts of our highly motivated employees who wanted to be a part of something new and contribute to the development of managed trading worldwide. They all, as well as I, have been in this international business for 5 years at least.

Q. How big is your company?

A. As we are still rather young as a company we currently have 23 employees who all are the core elements of the company. We go for the efficiency rather that size, so it’s better to have a few responsible and highly-trained professionals than many unskilled employees. But it does not mean we will stop on these 23. We have rather huge plans for the company’s prospective development, including human resources issues, and we are open to all new talents who have something to offer to the company.
We provide career opportunities to those interested in mathematics, finance, programming and communication with clients and who can work in our departments: Finance, Technical and Software, Marketing and Customer Support. Currently we have 7 market analysts who trade for the company, 8 technical and software professionals, 5 employees in Customer Support and 2 in Marketing.

Q. Today there are quite a few options for those who want to invest in Forex. What is so unique about your company? What advantages do you have?

A. I would say that there is a lack of good systems that can bring real and stable profit to their clients. We are the one that is client-oriented meaning that we make our clients’ money work as we do our own. In addition, we do it the best possible way and through a user-friendly interface. All our advantages come together in our unique trading system, which include:
• Transparency: our clients can see the company’s trading history as well as the history of all transactions they make. That is what makes us unique compared with other managed Forex trading companies;
• Live real-time trading so they can monitor the market situation and our entry thereto;
• Selection of a currency pair to trade: the clients choose the currency pair to trade so they can take the maximum profits of the currency with the best results on the market ;
• Profits paid daily: the interest earned during the day goes to the clients’ accounts on the next day.

• “No loss” guarantee: no loss from the negative trading results is deducted from the clients’ accounts; all investments are insured with PanaMoney Safety Fund;
• Beneficial referral program: we pay 5% live-long referral commission from every referred client’s investment and reinvestment.

Q. Sounds very promising. Could you tell us more about the “no loss” guarantee, how does it work?

A. As I said it means that no loss is deducted from the client’s account. When at the end of the trading day the company’s trading results were negative (sometimes it can happen), all losses are covered by the Company, but not our clients. Especially for such purposes, we have established the Safety Fund formed from our profits and ensuring our clients’ deposits remain safe. So the client, no matter how big his/her investment is, just can’t have any loss when trading and risks only his/her interest, but not the deposit!

Q. For many on-line companies the security issues are very urgent. How do you secure your clients’ accounts?

A. PanaMoney uses the latest advanced technologies to secure our clients’ accounts. Our website is DDOS and SSL protected and hacker-proof. Our clients can use SRK keyboard to prevent keylogging their password when logging into account.

Q. Talking more specifically. What profits are we talking about? How much can your clients make?

A. The possible earnings depend on the invested amount. Our clients can choose from a number of investment plans PanaMoney has to offer for the period of 16-180 trading days.
When investing 30-49 USD the maximum interest per day is 0.5%.
Investing of 50-99 USD can bring the maximum daily interest per day of 1%.
100-999 USD can make 1.3% daily,
1,000 – 4,900 USD can make 1.6%
5,000 – 9,999 USD – 1.9%
10,000-14,999 USD – 2.2%
15,000 – 19,999 USD – 2.5%
20,000 or more can bring the maximum of 2.8%.

All percents are paid to our clients daily! You can find more details on our website – www.PanaMoney.net.

Q. What are the minimum and the maximum to invest?

A. At first, I’d like to say that a client can deposit as little as 1 US dollar to his/her PanaMoney account, but to make the money work the client should invest at least 30 dollars to open the Trial investment plan. We also provide an opportunity to invest by bank transfer. In this case the minimum is 5,000 USD. There is no maximum limit for bank transfers as well as electronic payment systems.

Q. Speaking of electronic payment systems. Which ones do you use?

A. We are not anyhow associated with any electronic payment systems but we use Liberty Reserve and V-money to make transactions with our clients. In the future we may consider the company accepting other electronic currencies. And as I have already mentioned, we accept bank transfers after the client is validated and signs a contract with our company.

Q. How can the client withdraw his/her profits?

A. It is easy: the client can request withdrawal from our website at any time. When the money on his/her account is not invested into any investment plan (they are the interest earned, deposited but not invested, referral commission or other) they can be withdrawn any time. However, there is a limit for withdrawals via bank transfer stating that the minimum to withdraw via bank transfer is 1,000 USD. The clients should also remember that invested amounts can be withdrawn only when the investment period of their investment plan expires, otherwise, they will be charged with an early withdrawal fee to cover the company’s costs.

Q. You say your system is easy to use, but what if a client has questions?

A. I also said that we are client-oriented. To this end, we have live Customer Support available to provide our clients with timely answers to any of their questions. Besides, clients can submit a ticket to the support, e-mail or send a message through a contact form on our website. Actually we always look for our clients’ feedback because it helps us to improve the work we do.

Q. What about phone support? Do you have one?

A. For now we do not provide any phone support. As we have just entered the business we are rather limited in our human resources and taking into account all available options to contact the company allowing the clients to get immediate answers to any of their concerns, we ended up with having on-line support. However, our plans do include the establishment of a large 24/7 Call Center to provide customer support. But it will take time to find and train the staff for the function.

Q. How can clients monitor the trading sessions?

A. PanaMoney offers the advantage of watching live real-time Forex trading sessions on-line by providing Forex charts for four main currency pairs we trade with. There, one can see the current price as well as the point our trading session started at. A special chart shows our profits during the trading session. Additional information is available on our website. The transparency of our trading sessions and profits is what makes our company unique compared with other managed Forex trading companies.

Q. And what about the trading results?

A. The transparency policy implemented with our company stipulates we show the results of every day trades. The exact profit we made for the day per currency pair can be found on our company’s website, so everyone can see and estimate the profits they will receive to their accounts.

Q. Can clients reinvest their profits and how can they do it?

A. Every day our clients receive their profits to their accounts. They can open a new investment plan to make the money bring even greater profits or they can combine the existing investment plans into one meaning two or more plans will be added together becoming a greater investment.

Q. What extra opportunities to earn money does your company offer?

A. As our clients are of fundamental value to us, we are interested in creating attractive conditions providing more options for making money. One of the options that meets our clients’ as well as the company’s interests is our referral program which pays 5% referral commission life-long for all amounts invested or reinvested by every referred client.

Q. Your description of your company’s business was rather detailed. Is there anything else you’d like to add?

A. I would encourage everyone to visit our website and find more information about the company and its business. Unfortunately no interview can show all benefits of trading with PanaMoney Technologies, Inc. compared to the real engagement with our Company.

I personally would like to add that creation of PanaMoney has been my best and the most rewarding experience and the company’s main principle is to achieve the best balance between its commercial interests and personal interests of its clients.

Question 1: Brian Krassenstein, you, as the leader of Talkgold forum and with more than 100,000 members and 14,500+ subscriptions, what is your goal?

Well, as many people are unaware, Our parent company sold talkgold back in November of 2008, however I have still remained on for the time being as the forum manager. As part of the current management team, I know the owners are looking to expand the core discussion of talkgold into just about every online money making field there is. This will happen over the next 12-18 months.

Question 2: What features do you plan to add to make your forum more attractive to your members?

There will be new folders added in the coming money, as we try and direct Talkgolds attention into a more stable atmosphere. We will try and give away more cash prizes in our cash folder, as well as team up with some of the more lucrative affiliate programs out there to give members some opportunities of their own.

Question 3: Please tell us more about your new project: “Team Earners” (www.teamearners.com). What was the reason to start this service? How is going your project? What is your further planning?

TeamEarners.com was created in partnership between, Myself (Brian Krassenstein), Bradley Pancrose, Richard Gremus, and Edward Krassenstein. The idea was to provide a group in which like minded internet entreprenuers could have a hub for all the latest internet earning strategies and share their experiences for a price, anyone can afford. $13 per 6 months. Teamearners is off to a great start with close to 1000 members and growing.

Question 4: Are you still owner of Talkgold forum?
I read on this site: Emprezio Inc, Brian Krassenstein, and Others Make Large Website Sales that your forum was sold to Akmed Malakar. Can you confirm this information?

Yes the forum was sold to an outside group who owns several large internet based forums. We can not give too many details because of a non-disclosure agreement we have signed. The new owners have the best interest of the memberbase at mind and will run the forum in an honest fashion.

Question 5: I read on internet blogs some accusations directed to your person. Some people accuse you that a few domain names were stolen by you (Brian Krassenstein).
Can you explain to my readers what is nature of these indictments? Is it possible that some people try to ruin your good name? If yes, what is the reason?

Over the years, almost 5 years of running Talkgold, I have met a lot fo great people. Unfortionately in the High Yield investing industry there are hundreds of scammers. You ban one from your forum and suddenly they go out and write all kidns of crazy stuff about you. About the stolen domains….. I am a domain name speculator. I own over 1700 domain name. Back in February of 2008 I purchased a portfolio of several domains, just one of the probably 100+ portfolios I have purchased int he last year. It happened that this portfolio I bought has several stolen domain names in it. Once I found these names were stolen I immediately gave them back to the original owner, despite a financial loss I had to take.

Question 6: Hyip and autosurf arena is not so popular like in the past. After fail of such popular programs like 12DailyPro, Studiotraffic or PIPS (People in Profit System or Pure Investors) people are more prudent and associate hyips as a scams. What do you think about the future of hyip arena?

I have been saying the arena was going to die for years now. It always surprises me and makes a comeback. It is ashame there are so many scams out there. If only a couple legitimate programs would launch then the arena would thrive in my opinion. I don’t see it dying. HYIPs are not much different then casino gambling. There are always people willing to take risks for the big payout.

Question 7: Did you register your account on Switchbladeip forum as a “BK1981″ member? This member was pretending to be Brian, owner of TG forum. He posted on Switchbladeip.com that:

That is my username, but the owner of the forum edited my post to make me look like a thief. I would never post anything like that.

Question 8: code4gold.com administrator on his blog and his forum linked Idetrorce spam bot attack to your person. What is history and your relation to Idetrorce.com website?

Idetrorce was a virus that I saw that people were searching for as a web trend. What I did was register the domain and I had planned on putting up an anti-virus protection tipbook for those infected with that virus. Because that guy claimed I was somehow involved I just let the domain drop and never went forward with my plans.

Question 9: Your ex-moderator “los” has posted on code4gold forum: “TG being a criminal enterprise”. Do you agree with him? Do you plan to make your forum more unfriendly for scammers?

Los is an ex mod banned from talkgold. Read question number 5.

Question 10: Did you ever run a hyip or have you been a part of hyip team?

No I never ran any hyip. Back 4 years ago I was an advertising manager for weeklygold. The owner Mario Degryse ended up being a scammer himself. Since then I promised myself never to get myself associated with any hyip including investing into them in any way.

Question 11: What is your opinion about www.money-monitor.com service?

I like it. It is a breath of fresh air. There are too many monitor sites which look the same. Money-Monitor is unique and looks to be run by honest hard working people. Good job guys.

Question 12: Is there anything else that you would like to add that I didn’t ask about?

I just want to say that anyone investing into HYIPs should in fact look at it as a game of poker. Plan to lose your money, however understand you can also make money. Never put your eggs in one basket and always do your research.

Thanks for the interview!
Brian Krassenstein

Thank you for the interview. Interviewed by Money-Monitor Team.

Interesting links related to this interview:

Brian Krassenstein & Edward Krassenstein

It seems that this summer decided to hit all the records. One by one all the payment systems intend to surprise everybody. This time the surprise came from one of the three pillars of the US e-commerce – e-bullion payment processor. Due to the fact that E-bullion is a kind of closed-type company, which doesn’t let any alien to get in, the news about this system is a very rare holiday. Recently there were some rumors that the system will soon follow e-gold as both processors are identical and are based on the same principle. And all the rumors, however, usually have some basis. The recent events in the camp of E-bullion have confirmed this.

The first shocking news came on Tuesday when police has identified a woman stabbed in Century City on Monday evening. The sad “hero” of this tragedy was Pamela Fayed, one of the co-founders of the legend E-bullion. This news has shocked everybody and especially the way of the murder… There are several hypothesizes but they are not confirmed. The trial is in the process. A great tragedy indeed…

But the doom probably decided to check E-bullion for the strength. And following the scary news about Pamela Fayed, the whole community was shocked with the news about the arrest of another founder of E-bullion, James Fayed, the husband of the stabbed woman. The majority was sure that this arrest was related to the death of Mrs. Fayed, however the lawyer of Mr. Fayed insists that his client is charged with illegal money exchange and money-laundering operations.

At the moment James Fayed is at the Ventura County Jail and is going to be transferred to a detention facility in Los Angeles.

Earlier Pamela Fayed was saying that her husband “never got their multimillion-dollar company properly licensed or bonded.” In October the couple has filed for divorce and since that time had been fighting for the company and assets. It is necessary to note that the Fayeds were the only shareholders of the business (Goldfinger Coin & Bullion Sales and e-Bullion) and possessed about $12 million in bank accounts.

The given investigation was started long ago and, according to Jeffrey A. Taylor, the U.S. Attorney for the District of Columbia, “digital currency providers everywhere are now on notice that they must comply with federal banking laws, or they will be subject to prosecution.”

At the moment both criminal cases are being investigated and some people do not exclude some connection between them.

On behalf of our dear readers the whole editorial staff expresses their deepest condolences to the family, relatives, friends and co-workers of Pamela Fayed.

ecommerce-journal

Read more about a “new beginnig”:

A New Beginning

November 2008 will mark the 12th anniversary of e-gold’s debut as an alternative global payment system enabling Users - individuals or businesses - to receive payment in gold at extremely low cost and without risk of the sort of payment reversals that characterize all credit based systems.

e-gold has been a pioneer in numerous areas and I am proud of its innovative accomplishments. Since 1996, the Internet has witnessed multiple online payment initiatives, several of them funded with $20-90 million of start-up capital, with distinguished founders and executive cadre, high profile brand name strategic allies, and favorable reception in the business press. But whereas Digicash, Cybercash, Beenz, Flooz, Peppercoin and a host of others each was promoted as the next big thing, all of them combined cumulatively [in their original incarnations - some have been restructured into other business models] executed less transaction volume than e-gold did in a typical single quarter.

But this note is not about success. It is about e-gold’s failure to date to emerge, its failure to transition from a marginal player for early adopters to a respected institution integrated into the global financial mainstream. I am talking about a vision that has not yet been realized… and a determination to fix what needs to be improved.

e-gold’s failure to emerge so far is a result of many factors but the root causes were design flaws in the account creation and provisioning logic that led to the unfortunate consequence of vulnerability to criminal abuse. Criminal abuse of the e-gold system, in turn, led to a self-reinforcing negative reputation.

Ultimately, criminal abuse of e-gold reached the point where the US Department of Justice intervened, bringing criminal charges against e-gold Ltd., Gold & Silver Reserve., Inc., (the Operator of e-gold and also of the online exchange service OmniPay), myself, and the other directors for violations of 18 USC 1960 [Operation of an unlicensed Money Transmitting Business] and 18 USC 1956 [Conspiracy to Commit Money Laundering]. The criminal case has been resolved. The resolution of the criminal case however provides for a second chance, an opportunity to address the flaws embedded in the e-gold system and to transform the “e-gold Operation” into the institutions I, the other directors, and our longsuffering employees and contractors have always envisioned, one that serves to advance the material welfare of mankind.

In harmony with this transformation, we acknowledge that e-gold is indeed a Financial Institution or Agency as defined in US law and should be regulated as a Financial Institution. E-gold Ltd. has submitted an application to FinCEN to be registered as a Money Services Business and will be seeking licensure in all states that require it. Most importantly, working in conjunction with US government agencies, we will be exerting every effort to bring e-gold into compliance with US law and regulation as quickly as possible.

I am going to briefly describe the systemic problems we are undertaking to rectify and a roadmap of where the system is heading. Going from where we are now to where we need to be is going to be a bumpy road, especially at first. Many legitimate e-gold Users have already suffered loss over the past year as the measures undertaken by the government to prevent dissipation of assets have severely impacted exchange markets with resulting illiquidity of a magnitude as to effectively make it impracticable to exchange e-gold for conventional money. There will be more disruption in the next few months but it will be temporary and will set the stage for powerful new features that enhance the usability and global reach of e-gold. If there is a silver lining, it is that the more illiquid e-gold has become, the more valuable it has become due to the (apparently ongoing) decline of the US dollar relative to gold and other non-financial assets.

e-gold User Agreement Changes

Before proceeding, however, let me make something clear that should have been made more emphatically clear long ago. Use of the e-gold system for criminal activity will not be tolerated. Memorializing this resolve, the following provisions are being added to the e-gold Account User Agreement:

2.3.  User agrees to not use e-gold in any manner that violates the laws of whatever jurisdiction to which the User is subject.

4.6.1.1.  If e-gold investigators reasonably suspect that the e-gold account of User is being used to launder the proceeds of crime or for any other criminal purpose, Issuer may freeze the e-gold account and any other e-gold accounts of User.   Additionally, at the sole discretion of Issuer, User will be subject to damages and other penalties, including criminal prosecution where available and the notification of the general public of User’s actions, at the sole discretion of Issuer.

Design flaws in legacy e-gold system

A systemic flaw in the e-gold design, present from the very beginning, made it vexingly difficult for e-gold to expel a User, in a truly effective way, for criminal abuse of the system. e-gold investigative staff might detect suspicious activity, block or freeze the offending account, and later discover the same perpetrator had created additional accounts.

One element was logic that allowed an e-gold account full privileges from the moment of creation and only revoked those privileges in the event of suspicion that the account holder was seeking to mask their identity or actually engage in illicit activity.

Compounding this weakness was an unrestricted ability for Users to create multiple accounts without any obligatory indicator that they were all under the control of one person.

The next generation of the e-gold application will undertake to enforce a “one-human being/one e-gold User” rule. Instead of the existing logic where a User logs directly into an account, a User in the next generation system logs in as a User. Only validated Users are empowered with the ability to create multiple accounts.

The advantage from the cybercrime-thwarting standpoint will be an ever-stronger ability to blacklist a person who has abused the e-gold system.

e-gold is intensively working on this next generation User-based log-in system but it is likely to be another 6-9  months to deployment. Meanwhile, emergency surgery is required NOW.

Shock Therapy phase [may it be brief!]

1)  Effective immediately, new e-gold account creation is suspended until a compliant interim solution for Customer Identification can be ensured.

2)  We are requesting that autoexchangers - even though the technical beauty of the autoexchanger concept is sublime – cease supporting exchanges to or from e-gold for the time being. The problem with the autoexchanger concept is that although the autoexchangers themselves may be perfectly compliant with requirements [promulgated by Webmoney and e-gold] to automatically put tracking data in their memo fields, and despite the fact that Webmoney is also committed to aiding in the suppression of cybercrime, the fact is that a substantial proportion of the cybercriminals that abuse e-gold have evolved into a modus operandi that involves autoexchanging possible proceeds of crime into Webmoney, sometimes within minutes of receiving the value, thus making interdiction a matter of catch-up or closing the barn door after the horse is gone.

Looking Forward

We are confident that a regulated e-gold rebuilt to a more systematic specification will be less hospitable to criminals, and more attractive to mainstream business use without being less accessible to those disregarded by legacy payment systems.

Please accept our apologies for the occasional turbulence you may experience on this journey. And, as always…

Thank you for using e-gold.

So currently all exchangers do not accept e-gold to exchange.
New ID verification system is coming (so far valid e-mail was enough to register new e-gold account). Some people think this is the end of e-gold.

Because E-Gold and its corporate affiliate Gold & Silver Reserve Inc. each pleaded guilty to conspiracy to engage in money laundering and conspiracy to operate an unlicensed money transmitting business, E-Gold and Gold & Silver Reserve face a maximum fine of $3.7 million. Douglas Jackson faces a maximum prison sentence of 20 years and a fine of $500,000 on the conspiracy to engage in money laundering charge, and a sentence of five years and a fine of $250,000 on the operation of an unlicensed money transmitting business charge. Downey and Reid Jackson each face a maximum of five years in prison and a fine of $25,000. Additionally, as part of the plea, E-Gold and Gold & Silver Reserve have agreed to forfeiture in the amount of $1.75 million in the form of a money judgment for which they are joint and severally liable. Sentencing for all defendants has been set for Nov. 20, 2008.

One is certain: e-gold is in troubles.
Dr Douglas is in troubles.
I found very interesting history from Douglas partner (not sure if reliable):

Source: pressreleasepoint.com

I know Douglas Jackson long enough, before the times when he has received his M.D. Sorry, I’ve forgotten to introduce myself, my name is George Harrison. I’ve initially changed my name for confidentiality. Before appearance of E-gold in 1996 I knew Double D, as I’ve got used to call him, personally. We sometimes met to dinner, to discuss some future prospects of the Internet and e-currency though that time we called it as e-money, and only then E-bullion has registered this term as a trade mark.

So, time passed and our paths had crossed again and I worked several years with Jackson. We were successful and had earned enough until the numerous rivals began appearing. In the very beginning we weren’t concerned with all that problems until everything had come in on us at once. Those endless inspections on the part of the government (long before our accounts were arrested), all those appearing payment systems, the mere Webmoney cost great troubles! That time we’ve decided to organize a secret rival squad. First we confined ourselves to black PR then started sending artificial phishing postings. Finally Douglas offered to get with DDoS attacks. We have invited my nephew from Silicon Valley (Palo Alto, CA), who worked as a system administrator in some IT company. So, we’d organized mini DDoS division headed by me. We were well-connected and never had any problems with Botnet. Sometimes it was really a global scale… I don’t feel ashamed and I think that any of you would feel the same if you knew how had that damned Jackson dealt with me. The thing was that Douglas always offered me an interest from the new funds in system (Doug usually granted me 6% from the balances). That time our turnover was over $30 mln, so I had a good business. But this sweet life had led my old chap double D to the wrong way. One day I barged in his parlor and choked up: DD was carefully emptying some white dust out of the iron bullet fob to his table and leveling it with a plastic card. I’d frightened him away and as soon as he saw me he’d quickly swept aside everything on his desk. Later, in a few months he’d owned up that he was taking a amphetamine and other drugs to improve a working capacity. I have to admit that later I joined him for company. However along with a funny pace of living we’d got some financial problems in the system. Boss started to delay the payoffs and to practice black ddos hiding behind his usual “for the sake of e-gold”. I wasn’t motivated to work without bonuses. That time I was building a house in Florida and I wasn’t pleased with my financial situation. For that reason I decided to know the status of the system and used my password to enter the admin area. You may not believe me but I found that all our accounts were empty. I was shocked! Only then I understood the way Doug worked: being not able to support such a machine he started living for the account balances and very soon have killed them all. He not only let the whole biz all hang out but also made a trial shot in his own health by hook. When we were chilling out he often told me about his adventures being high. Once he told me that each thanksgiving he was meeting his pal Henry T. Nicholas, CEO of a well-known Broadcom, producer of microchips for mobile phones. May be you’ve heard that he was arrested for drug storage and adding ecstasy into the beverages of the company clients. Neither me, nor Barry K. Downey could stop this.

However, I wasn’t able to catch how he has managed to send all that dough from the accounts. Only after the registration in Nevis (Antilles) on July 14, 2006 I’d latched on everything. Jackson had not only registered an offshore company there but also started transferring the money (supposedly backed by gold) from all the accounts to the bank located there. He was my friend but that shitty money, fame and amphetamine had done their part. He was finding dozens of reasons not to pay my bonuses and I believed him and continued working for the sake of our dear e-gold. I devoted this system few years and couldn’t believe that surrounding. After the registration in Antilles the money most probably was quickly sent to the other part of the world. May be you remember that exactly that time E-gold and his primary exchanger OmniPay has stopped paying with the bank wires.

I was almost sure that Douglas had personally initiated the suit on the part of the government. His conclusions were clear: he’d withdrawn all the money and hence the system was not able to pay with wires and the only way out for him was a suit. Just look closer – he wrote off in one go the whole loan when the accounts of Bullion Exchange, AnyGoldNow, IceGold, GitGold, Denver Gold Exchange, GoldPouch Express, 1MDC and others were blocked. The wisest step, huh? That time I was getting a load of everything and couldn’t understand how clever my DD had been indeed. He was a genius because he thought out E-gold and he was a double genius when he contrived the way of getting all the system money. Already in May all the charges were dismissed, the accounts unblocked but wire transfers were still unavailable. Has anybody asked the question why after the court of appeals for the District of Columbia circuit has dismissed all the charges on April 11 e-gold didn’t resume its work? Douglas Jackson is not just a fraudster but a scammer of the higher rank who not only scams the people and blocks the accounts in e-gold but also makes it so that both people and the exchangers believe e-gold system.

As soon as E-gold was discharged I decided to contact Douglas to remind him the debts, especially as I was sure that he had some green. I was greatly surprised as Doug hadn’t changed his cell number and answered the very first call. He was very cheerful and I can even say that we talked as the old friends. I felt greatly offended but I tried to pocket my pride in order not to blunder out and not to let Doug to hang on. I was greatly surprised that DD had not only hung on but also agreed to meet willingly. We’d appointed to meet in Santa Monica, to take a walk over the beach, to have some beer and to talk about the business and other issues as we hadn’t met long enough. When I saw Douglas it was painful to see him as it was clear that he still in action. I’m not able to depict people as the writers do but no exceptional ability was need to see that he was pale and an evident disease was shown through the artificial smile. I think he was addicted. Now I was finally sure that at all the court sittings concerning e-gold, he was high or was addicted which could be seen on his face. I’m not quite sure but those recordings are available on YouTube.

As soon as we reached each other Doug started asking me about my business and my current affairs and was constantly giggling. I was greatly surprised but DD was thanking me much that I said nobody about his affairs and all the machinations he was dealing with in E-gold. In an odd moment he offered me some white dust that didn’t taste like a nose candy for sure. Knowing that we can talk only on a cloud I didn’t refuse. Later when we were sitting near the water Doug being overamphed started telling about his recent way of living, earning and the way of transaction making. He wasn’t able to speak quietly, he cried. He was cryin’ that had he managed to send several tens of millions to his offshore bank, that he hated people for misunderstanding. A bitchy hog… He cried that he considered all of us, the employees of E-gold as a tool for earning money. He became a pill… And then he had haughtily said that even a law was not a problem for him and that he was going to bankrupt e-gold already in August. He was jabbing his finger into me and saying that he would simply declare his bankruptcy… He said that all the large accounts had already been arrested long ago and everything they could take from him were $20k and the servers that he didn’t need anymore… Later he came to his senses and offered me another doss thinking that I’d forget everything he’d said. I didn’t want to wait until he finished and simply had turned on my heels full of insult.

Why did I publish that press release? I just want everybody to know that truth at last. He’ll treat you the same way he’d treated me. I know that after that discharge lots of people started cherishing hopes but I don’t want people to believe in e-gold and then in August to find that it is insolvent. So, I’ve placed that release and put the name of Douglas Jackson under it as the whole story was heard from him.

The reaction was quite predictable. Jackson was silent for the whole day and was whipping the cat for his talkativeness and then started writing a disclaimer.

And even if you don’t trust this letter I’m happy that I’d written it. Let people know. Especially since most of them have already understood that the system which backs its currency with nothing and which doesn’t let to withdraw money should not exist. I don’t know whether I did good or not by telling about all the plans of Douglas but I sincerely want less people being scammed by this man and his system.

11 of July 2008

Question: How did you come with the idea of opening your investment program?

Answer: Established in 2003, Olympex Group IBC is now proudly serving a growing international client base from 41 countries. In early 2008 we made a decision to create an investment platform that would make online investing more convenient - www.olympex-group.com is its result.

Question: How many people are running your program? Are your traders licensed?

Answer: We employ over 25 people including 9 investment professionals.

Question: Are you a registered company, if yes, where is the company registered? Can I visit your office?

Answer: Olympex Group IBC is a registered UK-based investment company. Feel free to visit us at 18 East Tenter Street London E1 8DN, UK.

Question: What about your investment plans? Do you offer a fixed or variable interest?

Answer: Olympex Group offers a broad spectrum of products and services to consumers, small businesses and commercial clients. Choose one of four investment accounts with fixed interest rates.

Question: How do you generate profits for your investors?

Answer: The company substantially deals with stock market, property and other infrastructure assets. Since year 2003 we have developed a lot of profitable trading schemes which bring success to us and our clients. Constant increase of OG IBC’s market capital allows us to put fairly high ROI for our clients to win the competition race.

Question: Can you show any proof of your trading results to public?

Answer: Yes, we are planning to publish company’s activity statistics shortly.

Question: How could we know that Olympex-group program is not a ponzi-game?

Answer: Olympex Group provides initial deposit insurance for all investments and Bank Guarantee for investments over $15,000 worth. We have more than $5 million in total deposits because of the level of trust we’ve built with our customers.

Question: Your domain is placed on the same IP that Roro44.com - Islamic site. What is your relation to this page?

Answer: We are not anyhow related to Roro44.com. Most likely this site is protected by BLOCKDOS.NET as well. That’s
why reverse IP search may point to this site.

Question: Are your WHOIS search results a real? I found that your phone number (+44.2072960001) and address are used by Portland Office Group Ltd. Can you explain this?

Answer: +44.2072960001 is not our phone number, there is a mistake in whois record and it will be fixed shortly. If you have a question, please call or send us a fax message to +44 207 900 3834

Question: What is your marketing strategy to develop your program?

Answer: We are planning to go private within one year when we get enough customers to work with.

Question: GDCA (Gold Digital Currency Association) published a warning about e-bullion payment processor fraudulent practice on their official website. Do you think that it is safe to accept e-bullion deposits in your program?

Answer: We have never received a single complaint from our customers regarding this e-currency. If we find out that e-bullion is unreliable, we’ll stop accepting this e-currency and convert customers’ investments into another e-currency.

Question: Similar question about e-gold, as you probably know swarms of e-gold clients are posting complaints that their e-gold accounts have been blocked. E-gold is a payment deposit option in your program. Do you plan to accept e-gold in the future?

Answer: Same as e-bullion. We are not planning to stop accepting e-gold.

Question: What protections against DDos attacks do you have? Where is the server located?

Answer: We have recently implemented powerful AntiDdos solution provided by Blockdos.net. Our server is located in Europe, database is encrypted and we make daily back-ups to avoid data loss.

Question: What do you think about our monitoring money-monitor.com?

Money-monitor.com provides reliable and independent monitoring service.

Question: What are your plans for the future?

Answer: We are doing our best to make online investment easier and more convenient. Several new implements coming soon.

Question: Anything you wish to add yourself?

Answer: Do not hesitate to contact us if you have any further questions.

Thank you for the interview. Interviewed by Money-Monitor Team.

Visit Olympex Group IBC site

Monitor status: Not monitored

Why do certain traders win consistently lose?

Here are a four reasons:

1. Not having a proven trading methodology.

Those who consistently lose don’t know key numbers. They have no understanding of support and resistance. Chart patterns are foreign to them. Their definition of risk management is getting margin called. With no proven trading method or strategy, you are doomed to fail. You will end up quitting the game after a string of losses. But there is hope. With the right education, a workable method, psychological balance and persistence, it can be done.

2. Not understanding how the market works, key indicators, key numbers, and ideal times to trade.

When you place a trade, you literally go toe-to-toe against some of the biggest nerds in the world. Many professional traders are not only super smart and Ivy League educated, they’re also rich. That doesn’t mean that you, the small guy or gal, can’t win.It just means that you simply must educate yourself and be prepared to do battle. David can beat Goliath, but only if he’s prepared. Some people might think the cost of a trading education is too high. But the cost of ignorance is way more expensive.

3. Risking too much per trade.
The wannabe trader risks 10% or more of her trading account on a single trade. Real deal traders understand risk and manage it FIRST before thinking about profit. They don’t take trades if it forces them to risk too much. Pros keep their risk below 2% of their account balance. This gives them the staying power to survive multiple losing trades in a row without turning into a worry wart.

4. Not being mentally prepared.

Psychology is a huge part of trading and most people are not mentally prepared. When money is on the line, fear, greed, and other emotions make trading very hard. Make sure you understand the emotional aspects of trading and be prepared to deal with them before you put your money on the line.

Source: Babypips.com

 

Dear readers, today I want to invite you to read an interview that I made with owner of new investment program - Liberty Insider.

Question:  Dear Sir, first of all please introduce yourself. What is your name and your position in the Liberty Insider program?

Answer: Hello,
I am Cedric Peynet, the main owner, website administrator and one of the founders of Liberty Insider Program.

Question: How many people are running your program? Please introduce your team.

Answer:  We are a team of five people, I’m the administrator, there is the programmer/designer, one person responsible for marketing and promotion, and another two people doing the trading so that we have different minds working with different ideas, but both very professional and making profit for the members of our team, a real and serious profit based on real trading.

Question: Why did you decide to open online investment program?

Answer:  Well, I always knew the online market for investments was pretty big, and we decided to give it a shot, if we have more people investing with us, it also means higher profits for us, so it is a profitable business.

Question: Where are you based? Are you a registered company, If yes, where is the company registered?

Answer:  Although we do not have a legal record yet, our website is
protected by copyright laws and legal paper will come with time.

Question: How do you generate profits for your investors?

Answer: We have two traders taking care of that, we invest into several business, we do not have one single source of profit, for example, e-currency trading is a profitable business at the moment and we are making a big profit out of it, we have also invested in some developping websites, which generate a very high ROI too.

Question:  What protections against DDoS attack do you have? Is investors money safe in your program?

Answer:  We are on a dedicated server, so we probably won’t have problems with DDOS and hacker attacks, and also, our script is unique and protected, and the database is backed up every few hours, in case something happens, no information is lost.

Question: Please tell us more about your plans: “Pro Investor”, “Serious hyip” and “Ultimate trade”. Are they risky?

Answer:  The Pro Investor plans pays a random profit of 1% to 8%, until you reach 150%, the daily percentage is aleatory and decided at the time to make the deposit, the minimum deposit for this plan is $10, and the maximum is $1000.

The Ultimate Trade plans pays 5% daily for 28 days, the minimum is $25, and the maximum is $2500.

The Serious HYIP plan pays 200% after 55 days of the deposit, the minimum deposit is $50, and the maximum is $5000.

We have three plans, so that our members can chose which one suits
them better, they are stable plans, the profit rates are not absurd so
we can keep them going for a very long time.

Question:  What about your Affiliate Program? How it`s working exactly? What is CPM?

Answer: We pay a 10% referral commission every time someone you referred to the program makes a deposit, and the CPM works like that, for
every 1,000 people that visit the website trough your referral link,
you’ll earn $1, it’s a very easy and nice way to make some extra money.

Question: What kind of support you offer?

Answer: We have a support center, where members can contact us and we will reply to their e-mail.

Question: What type of payment processors do you accept?

Answer: We accept Liberty Reserve and AlterGold, more options will
be added as the program grows.

Question: How do you plan to make your program stable for a long time? What are your plans for the future?

Answer: Our investment plans are stable, and we have the best traders, so
the profit is guaranteed for a long time. As the program grows,
we will probably hire more staff and make changes to make sure
the program will continue to be stable and profitable to all our
members and us.

Question:  What makes Liberty Insider program unique from other hyips? Tell me a few reasons to join your program.

Answer: Well, we wouldn’t like to be considered a hyip, we’re an investment team, what makes us different is that we are doing real trading and we are serious about this project, we want to change the industry
into something a lot better than it has been for the past years, and we’re going to make it happen.

Question: What advice would you give to newbie investors?

Answer: My advice would be not to just deposit their money in any site,
they need to understand the hyip industry before investing anywhere,
the best idea is to be guided by someone who is already in the industry,
otherwise they’ll just lose their hard earned money.

Question: Your opinion about money-monitor service.

Answer: It’s new to me, but seems like a very good service, with all those
interviews, members can get to know their admins a little better,
and having personal contact with admins is very important, money-monitor
makes it easier.

Question: Anything you wish to add yourself?

Answer: I want to say, once again, that this is a serious project, and we are
committed to make it a success, if anyone who is thinking about
becoming a member, do not hesitate to contact us, we are going
to do our best for you!

Thank you for the interview. Interview by Money-Monitor Team. 

Visit Liberty Insider program.

Monitor status:

FOR IMMEDIATE RELEASE

[Melbourne, FL] — e-gold Ltd is pleased to announce a favorable ruling from The United States Court of Appeals for the District of Columbia Circuit in the matter of whether it, Gold & Silver Reserve, Inc., and Directors of both corporations are entitled to a hearing in the Federal district court regarding whether there was sufficient probable cause to justify seizures of assets from the corporations in December 2005 and April 2007.

The higher court concluded:

“In short, we hold that where the government has obtained a seizure warrant
depriving defendants of assets pending a trial upon the merits, the
constitutional right to due process of law entitles defendants to an
opportunity to be heard at least where access to the assets is necessary for
an effective exercise of the Sixth Amendment right to counsel.”

This ruling will ultimately prove to be beneficial to all Americans whose Fourth, Fifth and Sixth Amendment rights have been increasingly encroached upon in the name of fighting domestic wars du jour - whether or not they use e-gold.

e-gold Ltd, Gold & Silver Reserve, Inc., and their Directors believe there was insufficient probable cause for the seizure warrants at issue and look forward to finally having their day in court on this matter.

####

About e-gold
e-gold is an electronic currency, 100% backed by physical gold in allocated storage that empowers people to use gold as money. e-gold is integrated into a secure account-based payment system, operating globally 24/7, featuring instantaneous payment settlement with no charge back risk, at lower cost. Shopping cart, automation, and mobile phone interfaces are available. Operational since 1996, e-gold has settled over 85M transactions, serves customers in 165 countries, and has a circulation of nearly 2.4 metric tonnes of e-gold.

####

Please direct inquiries to…

Press Contact:
Holly Pitt Young
hyoung@jcwatts.com
+1 (202) 207-2854

All others:
Bill Cunningham
bcunningham@g-sr.com
+1 (321) 956-1200 ext 127

Blocked account holders are being sent the following:
In order for us to assist you with the block we will need due diligence documents. Please mail (or preferably, use a courier service such as Fed Ex or DHL) original notarized copies of all of the following information:

a) A signed and notarized affidavit listing: Name, address, and telephone number for the owner of e-gold account xxxxxxx
b) Copy of a telephone or utility bill that has the same address stated in item A.
c) Notarized copy of Passport or Driver’s license for the account owner.

Addressed to:
G&SR
175 East Nasa Blvd.
Suite 300
Melbourne, FL 32901
Attn: Due Diligence Unit

Please include a copy of all email correspondence on this matter with your due diligence documents.

Thank You, e-gold Service

Do not waste your time by sending your ID documents, I did it but e-gold refused unblock my e-gold account. Cashout your blocked e-gold funds via our service! After sending all necessary documents I get this message:
The block will not be removed. Your account was blocked under our Right of Association clause in the account user agreement. Quoting from the e-gold Account User Agreement:

http://www.e-gold.com/unsecure/terms.htm

Quote:4.6. Right of Association

Issuer reserves the right to refuse service to particular individuals or entities, at its sole discretion, with or without cause.

Thank You,
Due Diligence Unit

Here are people who have done nothing wrong, and now have thousands of dollars in e-currency locked in their accounts. In this reason we have decided to open blocked e-gold withdraw service. If your E-gold account is blocked we may resolve a block on an Egold account.

WITHDRAW BLOCKED E-GOLD NOW!