E-gold was a digital gold currency operated by Gold & Silver Reserve Inc. (G&SR) under e-gold Ltd. that allowed users to open an account on their web site denominated in grams of gold (or other precious metals) and the ability to make instant transfers of value ("spends") to other e-gold accounts. The e-gold system was launched online in 1996 and had grown to five million accounts by 2009, when transfers were suspended due to legal issues. At its peak in 2006 e-gold was processing more than US$2 billion worth of spends per year, on a monetary base of only USD $71 million worth of gold (~3.5 metric tonnes), indicating a high monetary turnover (velocity) of about 28 times per year (for comparison, annual velocity of USD is about 6 for M1 and less than 1.6 for M2 ) . e-gold Ltd. was incorporated in Nevis, Saint Kitts and Nevis with operations conducted out of Florida, USA.
e-gold was founded by oncologist Douglas Jackson and attorney Barry Downey in 1996. The pair originally backed the services accounts with gold coins stored in a bank safe deposit box in Melbourne, Florida. By 1998, G&SR (the system operator) was an Affiliate Member of NACHA and a Full Member of NACHA's The Internet Council.
You whipped me I'm hurting
Abused me for certain
And slavery should not exist
Is this what I get a poison kiss
Without you I'm dead meat
I'm a raggedy dog dying in the street
Of a God-forsaken shanty town
Where gangs of children are hunted down
I go wild when you're in my face
I go wild when I taste your taste
I go wild and I go insane
I get sick--somebody stop this pain
You left me I'm braindead
I'm feeling nothing strapped to my bed
On life support tubes in my nose
Tubes in my arms shot full of holes
I go wild act like a goat
And I get sick, lumps in my throat
I go wild
I go wild
I go crazy, I go insane
I get sick somebody stop this pain
And the doctors says you'll be okay
And if you'd only stay away
From femme fatales and dirty bitches
And daylight drabs and nightime witches
And working girls and blue stockings
And dance hall babes and body poppers
And waitresses with broken noses
Checkout girls striking poses
And politicians' garish wives
With alcoholic cunts like knives
I go wild
I go wild
I go wild
I go wild
I go wild when you're in my face
And I'm entranced in a state of grace
I go wild when you treat me bad
I go wild, raving mad
I go wild for you