campco

Hi,

What I understand of this is that DXS/GDT can only be accused of poor communication and bad management; most of the funds needed to back up for our intitial funds have gone to those who took funds out above their intial funds (mind you, I'm not accusing them, as this was legal).
The gold pot is probably empty now but might get filled again after coming back online with a proper working site (the programs for that are on the shelf).
If we only follow our anger and disappointment in going to court we won't see any funds ever. Especially now that DXS/GDT still seem to work for a solution; only if they close their sites and give up on the whole enterprise it is wise to go to court, not earlier.
But, as I said in the beginning of my post, I still believe we have no case against them.

Regards,

Ben

lynnette

And thats where we all made the same mistake in our thinking (apart from kradford I should add). The only people responsible for creating DXG in the system is DXS/GDT, not the members or merchants, but DXS/GDT.

We may have swapped funds all over the place, with funds some going to merchants and some going to people who had their outxchanges processed, but that doesn't make any difference to the fact that DXS/GDT created the DXG for them to be able to do that. In exactly the same way as a country makes the bank notes we have in circulation, they must be able to honour those funds. GDT are always likening themselves to an economy and as such should go by the same rules, namely, if am a business and take bank notes, I would expect to then take those notes and know that £5 is worth £5. If I took bank notes and got to my own bank with them just to be told, well sorry the UK government made too many...oops.....sorry that £5 you took is only worth £2. Do you think I would blame all the other people that took and spent those other bank notes?? No, I would blame the government for making more notes than they could back up and thats exactly what we have here.

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Lynnette
If you always do what you've always done, you will always get what you've always got. If you want what you've never had, you have to do what you've never done.

CuriousGeorge

But that's the whole point at the center of the entire debate.

DXS, a wholly owned subsidiary of GDT (I suspect), acted EXACTLY like a government. They created funds or "value" to float the economy. Unfortunately, they are NOT a government, they are a COMPANY. Therefore, they do not have the "collusion" that is available between real countries to artificially "back" their currency.

There is no way the US government could "honor" the total value of printed US "notes" (money). That is why they come down so hard on any "alternative" currencies that may appear in the market; especially those that are "hard asset" backed.

In the case of DXS, we have several interesting things that makes it a singular case.

1. DXS was NEVER offered as an investment by GDT or DXS. It was unscrupulous course marketers that did this, even when contacted by DXSSecurity and asked to cease and desist.

2. Blue Chip WAS offered as an investment. BUT, it was through an independent company and that independent company "used" the DXS "framework" to market and maintain the "books". However, Blue Chip is not DXS, nor is it GDT, regardless of how "entwined" it was with DXS/GDT.

3. GDT is not DXS. I suspect, given what little I do know about companies in general, legalities and the like, that the case can be made for liquidating DXS and leaving GDT untouched, to continue on in Vanuatu as a "background" mover and shaker. There is some evidence that they can effect changes in the Vanuatu laws through the Vanuatu legislature.

4. I have heard of possible legal action against GDT via the Vanuatu court system, but I have NEVER heard of any action or complaints to regulatory offices concerning the actions of "e-currency trading" course sellers, some of whom will STILL sell you courses on how to work DXS. These people need to be shut down and criminalized. Not sure "criminalized" is a real word, but I really think there should be legal action taken to shut them down and obtain restitution for all the people they have ripped off.

I agree with Ben (Campco), we are in a position to make sure that the well gets so poisoned that GDT is forced to shut down DXS and start a new enterprise under a different name and registry. I also agree with Sam (Succeed2K) that the actions of DXS have been such that it would appear to not care what happens to it's customer base.

So, time will tell, but in all matters financial with DXS, Ken (Kradford) has the right of it when he applies the basic accounting equation to the DXS "economy".

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lynnette

And my point is mainly that everyone keeps saying "the merchants spent it all" or "the early members took it all out" the hard and fast fact is DXS should be able to back every single DXG they created and if they can't they were acting fraudulently.
No I agree, but this is not the only thing DXS was marketed as. Federal Gold and DXS were both marketed as a way to take payment for services weren't they? The DXGold balance in our accounts (not DXCredit) is supposedly the amount of money left after deducting any money we have already taken out of the system NO gains involved. So how is it that we can't even get that amount out, and that is something that anyone who is owed money from DXS for payments received could argue in court.

Totally agree

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Lynnette
If you always do what you've always done, you will always get what you've always got. If you want what you've never had, you have to do what you've never done.

joemastro

Guru- You are right of course and I stand corrected. DX did not say they were an investment. However, I believe it was some time before they started correcting people and telling everyone it was not an investment but rather a credit storage system. I think they knew what was going on and how people were treating this. In that light, it is in fact a credit storage system that is basically holding our money.
I am in no way an expert on the law or DX for that matter. I'm just expressing my desire to do something instead of sitting back and doing nothing. Let's let the experts figure out if something was done wrong here but they will not be able to do that until they are alerted to the situation.

Succeed2k

I have heard people mention that they always knew it was a storage system, and that DXS made that clear years ago. I personally have never seen this in the early days (prior to 2007 or so) so i do agree with you that DXS figured what people were doing and made slight changes. I would love to be proved wrong by someone finding the information on the old site via the internet archive (way back machine).

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bbrunelle

I was in North Dakota one summer myself and it rained...both days!

CuriousGeorge

This far enough back for ya Sam?

Current Time & Date: 12:15 PM 3/27/2003 (GMT -7)


Actually, the term used here is closer in reality and meaning than the current "credit Storage system". But looking at this quote, I would say that is certainly what they were talking about.

Here's the link:

GDT Inc. - Gold-ebank & DigotGold

Now here's another from: Current Time & Date: 7:46 AM 1/26/2004 (GMT -7)

Still singing the same tune a year later. Here's the link:

http://web.archive.org/web/200401261...://dxgold.com/


OK here's a year later: Current Time & Date: 6:04 PM 1/1/2005 (GMT -7)

Still singing the same tune. Again, the link:

DXGold > > "The Internet's Central Currency"


Another year later, in Jan 2006:

Wording has changed, but the intent is still (to my eyes) very clear. An online economy which would necessitate the majority of the funds to remain in that economy.

Link:

http://web.archive.org/web/200702251...ain=dxgold.com

You have to give them credit - they stuck to the same goal, through thick or thin. I looked at several more pages, but i have NEVER seen any reference to DX being an investment OUTSIDE the one contractually controlled area of the Blue Chip portfolio. And the Blue Chip contraqt wasn't with DXGold/DXInOne/ DXSynergy.

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