Category Archives: Economic Issues

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Goldmoney Q3 Results

TORONTO – (February 2, 2017) – Goldmoney Inc. (TSX:XAU) (the “Company”), a financial technology company and operator of a global gold-based financial network, today announced financial results for the third quarter ended December 31, 2016.

Selected Highlights

  • More than 1.35 million user signups with $1.7 billion in customer assets as at December 31, 2016.
  • Added the Royal Canadian Mint’s secure precious metal storage facility in Ottawa as a vault on the Goldmoney Network, and entered into an agreement with the Mint to explore future co-marketing activities that aim to boost awareness and accessibility of precious metals.
  • Completed the Schiff Gold Acquisition and entered into a Marketing and Service Agreement with Peter Schiff; results reflect 47 days of Schiff Gold operations.
  • Launched the new Goldmoney App for iOS and Android.
  • Entered the lending space with the launch of the Goldmoney Maximizer tool, which enables verified Canadian Goldmoney Network users to borrow select currencies against up to 85% of their fully-reserved gold assets.
  • Extend P2P transfer capabilities to Goldmoney Network users residing in the U.S and registered a U.S. subsidiary with the Financial Crimes Enforcement Network (“FinCEN”).
  • Reduced Goldmoney Network fees by 50%, enabling users to deposit, redeem, and make vault-to-vault gold transfers for 0.5% above the spot gold price.
  • Doubled user referral rewards for the Goldmoney Personal Golden Heart™ Program
  • Introduced a connection between Goldmoney Network and Wealth that enables Wealth clients to fund their Holdings with gold balances stored in their Goldmoney Network accounts.
  • Extended peer-to-peer transfers to 49 U.S. states, enabling verified Network users in the U.S. to send and receive gold transfers to and from verified Goldmoney Network users worldwide (excluding residents of the U.S. state of Vermont).
  • Announced Goldmoney Network accounts and Wealth Holdings had been endorsed as Shariah-compliant by the Shariah Supervisory Board of Amanie Advisors, which issued the fatwa in accordance with the Shariah Standard on Gold set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and developed in cooperation with the World Gold Council.
  • Launched additional payment integrations allowing for direct-to-bank redemptions and credit card processing in Indian rupee for Goldmoney Network.

 Click HERE for the complete report

 

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https://www.goldmoney.com/newsroom/investor-relations

 
Learn more and signup using the special URL   https://Goldmoney.com/r/niKIos   to earn a bonus of 5% additional gold on your first deposit (up to a maximum of 0.5 grams of bonus gold) if you make that deposit within 7 days of signing up.  Please note that wire transfer deposits are not eligible for the first deposit bonus.

 

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Prius 13 Update

Previously on Prius 13

    “I warned you not to stir the oxygen tanks,” my service writer replied.

    Houston, we have a problem.

    I noticed one of my warnings lights was on as I drove through the parking lot. No wait. ALL OF MY WARNING LIGHTS WERE ON. The main console was lit up like a Christmas tree. I pulled into a parking space and rebooted the car (aka turning it off and on). All of the warning lights stayed on and the primary notification window alternated between “CHECK PCS SYSTEM” and “CHECK HYBRID SYSTEM”.

    My Prius had gone Apollo 13 on me.

    With my luck, it’s the AE-35 Unit.

 It wasn’t the AE-35 Unit.

It was the Flux Capacitor … or the financial equivalent thereof.

 = = =

Thursday was a busy day at CatBeard Manor. The Mrs was back from the hospital but still wheelchair-bound. A plumber was out, reaming a decades-old clog from our plumbing to allow the upstairs toilet to flush without filling up the tub. A cable technician was out for the nth time troubleshooting my abysmal Internet performance. And finally, the first wave of physical therapy had arrived to evaluate the Mrs. So I was calling Toyota every hour or so trying to get an update on the Prius. No joy.

Late in the afternoon, after everyone had left my house, I decided to drive over to Toyota and talk in-person to my service writer. I drove the rental car to the front, parked, got out, and got a free cup of coffee in the lobby before stalking my service writer.

I walked up behind him and said “you’re a very difficult guy to get a hold of.”

“It’s been a goat rodeo here,” he replied.

“I came by to get some free coffee and while I was here decided to stop by and find out what was up with my Prius.”

I got a smile. “Let me go in the back and find out what’s going on.”

He was gone a long time.

When he came back he was carrying two sheets of paper. The first sheet of paper was a printout, the first line of which had HYBRID BATTERY with a bunch of Xs after it in various columns indicating various failed tests. The second sheet was blank save for handwritten numbers indicating cost of the part, tax, and labor. The total was $5600 or so.

$5600 Deep breath. Did I mention that I have been out of work since last February? I got laid off following my 15 year anniversary award with a major oil field services company. “Yeah I was afraid it would be this.” The discussion then went on to how I had read that the cost had come down and/or that individual battery cells could be replaced. Maybe, but not through Toyota. “Is there anyway this might be covered under warranty?” I asked. “Let’s find out,” he replies.

Typing ensues. Screens pop up on his monitor. He pulls out a little book and starts leafing through it. This goes on for what seems like an eternity. Then he reaches over to the sheet with $5600 handwritten on it, crumples it up with one hand, and tosses it in the trash. Now I am staring at a screen showing the warranty status of various subsystems for my car. Each them shows that it is out of warranty – EXCEPT for the HYBRID BATTERY. It is warranteed to 100,000 miles. My car has less than 100,000 miles on it.

“So,” I ask tentatively, “it’s under warranty?”

“Yes.”

“Are you sure?”

“Yes.”

“I want to kiss you.”

“Let’s not.”

“Agreed.”

He had some more paperwork to do, so I walked over to get more free coffee. Then I went to the car rental desk and requested a printout of the contract on the car had I rented the day before. I intended to try to get Toyota to comp me for the rental car, since it was warranty work. When I got back to the service desk, my service writer was way ahead of me. “You have a rental car, yes? We’ll cover that.” He called over to rental desk and made it so.

As I left, I shot him a thumbs-up. “Free replacement battery pack. Free rental car. Free coffee. Can’t beat that.”

He smiled. “Especially the free coffee. It may not be good, but it’s free.”

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Prius 13

“I warned you not to stir the oxygen tanks,” my service writer replied.

Houston, we have a problem.

It has not been a good week at CatBeard Manor. Last Thursday the Mrs lost feeling, then function in her left leg. It was effectively “dead”. It had been bothering her for a while prior to this. (MS? Leg? Spine? MS? Leg? Spine?) She immediately called her neurologist, but it rolled over to voicemail. I broke out the wheelchair which we use from time to time when the Mrs feels particularly exhausted. Feeling and function returned over the weekend. I put away the wheelchair and broke out the walker. By Sunday evening she was “free walking” once again, unaided.

On Monday her left leg began acting up again. That afternoon I was out running errands when she called to say that the neurologist had called. “Go directly to the ER to be admitted to hospital for tests. Do not pass GO! Do not collect $200.” It was after 4 PM. I went home and collected the Mrs, the wheelchair, and several bags of supplies. We knew the drill. By the time they put her in an “observation” room they had run X-rays and a CAT scan of her head to rule out stroke, blood tests, and ultra-sound of her leg to rule out a blood clot. It was 2 AM Tuesday when she got to her room. I went home exhausted and got little sleep.

On Tuesday afternoon they scheduled her for cranial, cervical, and lumbar MRI (head, neck, back). She finished these up at 5 PM. I stayed until 10 PM, then left for home. Unable to fall asleep, I had a second mostly sleepless night.

When I got to the hospital today (Wednesday), I got the diagnosis that she had torn ligaments in her back from previous falls and probable degenerative disk disease causing irritation of nerves to her leg (a visit to the neurosurgeon who worked on my back several years ago would likely be in our future). They were sending her home with instructions to rest and a home health physical therapist would be set up to visit. She was scheduled to be discharged late in the afternoon.

I decided to run out and get some lunch. It was just before 2 PM. I walked out to parking lot, got into our 2010 Prius, and drove off. I noticed one of my warnings lights was on as I drove through the parking lot. No wait. ALL OF MY WARNING LIGHTS WERE ON. The main console was lit up like a Christmas tree. I pulled into a parking space and rebooted the car (aka turning it off and on). All of the warning lights stayed on and the primary notification window alternated between “CHECK PCS SYSTEM” and “CHECK HYBRID SYSTEM”.

My Prius had gone Apollo 13 on me.

I drove straight to my nearby Toyota dealer, waited to get my favorite service writer and told him my Prius had gone Apollo 13. “I warned you not to stir the oxygen tanks,” he replied. They would not even be able to begin troubleshooting on it until tomorrow. With my luck, it’s the AE-35 Unit.

Anyway, I went over to the rental counter and while waiting I got a call from the Mrs informing me that she was being discharged. I arrived in time in the rental car to pick her up at front door (an aid brought her down in her wheelchair with all of our gear).

Tomorrow is another day.

Goldmoney Inc. is now Shariah-Compliant

As you may know, I have long been a proponent of the use of gold as money (see previous post for example). I have also been a proponent of Goldmoney Inc. (formerly BitGold) as the most cost effective way to save in gold. From a global perspective the announcement below is big news for Goldmoney Inc.

For more see https://www.goldmoney.com/newsroom/news-and-blog/goldmoney-inc-announces-compliance-with-shariah-standard-on-gold

 


For more see https://www.goldmoney.com/shariah-compliant

 

Goldmoney also provides a Real Time Audit of its holdings at https://www.goldmoney.com/newsroom/real-time-audit