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.