In the Q&A portion of the September 30th newsletter, I made an extremely inappropriate response to a reader’s question on my views of the newly public company, BitGold, which I hope to rectify with this communication.
Bitgold is a subsidiary of Gold Money, Inc., which was started in 2001 by James Turk – one of the great leaders in the modern day struggle to remonitize gold and silver. In fact, I was a Goldmoney client circa 2006-07 – and have the highest degree of respect for both its business model, and aim of creating a unique global platform enabling 1) the purchase and storage of allocated metal in major international cities, and 2) the ability to use such metal as payment for a variety of online transactions.
In my misunderstanding of the company, I made several incorrect or misleading statements regarding Bitgold’s IPO, profitability, and product offerings. Please accept my apology for such conduct, which directly contradicts Miles Franklin’s mission statements of speaking the truth and respecting our competition – in this case, a company in which James Turk, one of the industry’s most respected leaders, plays such a large part.
If you have further questions about exactly how Bitgold’s online payment technology is being utilized to enhance Goldmoney’s long-standing industry position in Precious Metals purchase and storage, please contact its Investor Relations department at 800-854-7418.
Sincerely,
Andy Hoffman
Marketing Director
I have followed you for about year now and have the utmost respect for you. I was taken back on your comments about BitGold as I have recently opened an account and just received my pre pay card. I, like most successful investors, take a chance on something I believe in. Only time will tell if it all works out. I applaud you for your retraction as it is, I’m sure a bit humiliating but we are just men trying to give out the best information, which you are an undeniably expert at. Thank you for, as always, being honest.
Respectfully,
Bob Bright
Bob,
Much appreciated.
a
Andy- An extremely candid and gracious “mea culpa” on behalf of Miles Franklin. Honesty is honesty- no matter the reason. We would expect nothing less from you folks. You did not disappoint. Thank you!
Thanks, Bing.
this is why I do business with Miles and Franklin , Integrity and honesty are qualities that are hard to find in these strange times . I also have allot of respect for James Turk
Glad Andy set the record straight .
Respect
Thanks, Paul.
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I think you were entitled to your opinion and should not have been asked to retract.
This is not precious metals in the hand and even though it is run by good people with integrity, your message (and miles franklin’s) is that only real metal in the hand is going to help us during the coming dark days.
I think your original comments were correct, but hey if the boss made you do it…….oh well.