A direct question to Roy Sebag concerning physical gold redemption
As you know, I am among your greatest supporters. I applaud your vision for BitGold and GoldMoney. I am one of the earliest US adopters. I am also one of this board's leaders and a recent shareholder by way of BTGDF.
However, I am confused by recent events concerning comments made by you and Katie Sokalsky at the Toronto Town Hall (Time = 1:08), comments made by you in rebuttal to Peter Schiff, and comments made during the Stockholm Town Hall.
At issue is the question of redemption of physical gold via Dillion Gage (BitGold 10g Cubes & Coins | Ship 10g BitGold Cubes to your door). During the Toronto Town Hall you and Katie Sokalsky went into great detail how a physical redemption was in fact the sale of gold in the vault and a repurchase of product from Dillon Gage. Then in the rebuttal to Peter Schiff and in the Stockholm Town Hall you appear to reverse this position.
Perhaps there are two questions:
1) does redemption of physical gold involve the sale of gold in the vault?
2) if the answer to the above is yes, is this a taxable sale?
I realize that BitGold does not provide legal advice. But as you are probably aware, this question has raised a lot of debate on this site and all of us are just looking for answers. We would all very much like for you to respond to this issue, here on the BitGold Community site. Your response would do much to end our confusion.