[e-gold-list] Re RE: exchanger???

[Andy Heron]

Hi

Actually, for us, along with a reduction of e-gold sales, THE main
reason the out-exchange fees are so high at the moment is because
Russian auto exchangers are offering bonuses to purchase e-gold at
15-20%+ with other DC's (e.g. buy e-gold with LR and get a 15% bonus).
Then with this 15% extra in their pocket the customer can use an
unsuspecting exchanger (who was charging a reasonable -5 to -10%) to out
exchange the e-gold and still make a good profit. Leaving the
unsuspecting exchanger with even more excess e-gold than usual. 

The only way to stop being flooded with too much e-gold is to raise the
out exchange fee to match the bonus price being paid by these auto
exchangers to stop the massive influx of selling. So it will clearly
spiral out of control very shortly if this continues. With the gold
price falling today and a few weeks back (and continuing to be
volatile), exchangers cannot afford to have massive quantities of excess
stock of a product that is not moving. 

It's not an ideal situation.

Regards

Andy Heron
LGE




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