Monday, August 13, 2007

Steinbeck: Esteblished banks suspicious of Edge.

There are a few great banks in SL, large, powerful and profitable. Some of these successful behemoths have decided to treat Edge as a formidable threat and preferably squash it like a bug under its giant foot. As amusing it may be that giant banks see competition in Edge it is also worrying. Banks in Real Life are known to uphold and maintain economy as we know it by trading with each other, not as best friends but with mutual respect and understanding that the other bank is an essential part in what we call economy.

Edge Financials hereby request that banks and institutions work together, systems could be built to trade risk and to loan money to cover for sudden withdrawals. Who else should be a good trustworthy customer then a bank?

Thursday, August 9, 2007

Steinbeck: Edge opening not related to Ginko collapse

The fact that Ginko is a sinking ship is no longer speculation according to

In the wake of the sinking giant many opportunists will rise and a turbulent time will follow.
At first glance Edge might appear as one of the cons but rest assure it is not and here is why:

1. Edge will not offer interest rates it cannot support which means opening interest rate will be moderate AND will be lowered if needs be.
2. Edge is a pioneering transparent bookkeeping with monthly reports on giant in-world billboards.
3. Edge's capital reserve will start at 50% of deposits compared to alleged Ginko 3%
4. Edge Chairman and Owner will reveal his RL identity at opening of Edge.

Clear warning signs for a fraudulent bank:
* Newly started
* Owner is a new account
* Interest rate over 0.2% daily (only if bank is also newly started)
* Un-professional head quarters
* Does not own land

Wednesday, August 8, 2007

Steinbeck: Bank reserves too low

It has been turbulent times for Second Life banks. Recently the financial giant Ginko kneeled under tremendous pressure and withdrawals were stopped and capped. Although Ginko seems to slowly be sorting their problems out the triggering factor remain in SL finance. Non-liquid assets and far too low reserves.

Ginko is reported (unconfirmed) to have had about 3% reserve in L$ assets in a market as volatile as Second Life. Unarguably Ginko pulled it off for a long time, but seems to have hit the wall. This must serve as a warning for the other banks still standing, increase the reserve.

Sunday, August 5, 2007

K&D Mutual Stock Ratings

As K&D mutual says themselves: Acting upon a tip is something to do with caution and you should always make your own analysis of any investments. One thing to look out for is potential conflicting interests by K&D as well as Edge itself once posting stock ratings. Make sure the issuer itself doesn’t act differently then they advise, as this generally speaking is a way to move markets in their preferred direction. No shadow on K&D for rating stock, but given the lack of security and risk of personal imprisonment etc, Edge advises caution upon acting on Stock Ratings issued by any party unless you can determine the issuer acts accordingly to the tip issued. This warning is not aimed against K&D but is based in the relative ease by which the SL market can be moved.