Until last year, Bradley accepted credit cards and paid out e-gold, but said he quit because too many people used stolen credit cards when conducting business with him. They were trying to get me to blame e-gold for fraud. The company says it has 181,000 user accounts and stores about 1.4 metric tons of gold on behalf of its customers. He took dollars and credited grams of gold, silver, platinum and palladium to a customer's account, less a modest fee. I'm just running a business.
People can use e-gold for whatever they desire.
To me, this is a very serious business. They've just taken out one of my best market makers for no reason. Still unclear is why the raid took place. One possibility is a broader investigation directed at some users of e-gold, which is less anonymous than cash but more anonymous than credit cards. Former Treasury Secretary Lawrence Summers has warned of malcontents using the Net and encryption to dodge taxes, and it's possible that the feds don't exactly approve of a system that's more privacy-protective than the heavily regulated banking system.