http://www.bnm.gov.my/microsites/fraudalert/0301_status.htm

in tis site, genneva malaysia s/b name is there. i'm interested in this, but is sceptical as it is too good to be true!!

Another thing...seems their selling gold price is based on the price advertised here

http://www.goldbeam.org.my/

which today is RM183 p gram. Is this their selling price or another premium on top

Now compare that with public bank account which is now quoted selling price per gram as Rm148.41

Thats 183-148.41=34.59 which is 23.3% over spot prices!

Any other premiums?

---

Added on April 27, 2011, 10:21 amThanks. Cant locate this....

Genneva become SamudraGV, then Genneva Malaysia again? i am confused, are you?

This post has been edited by prophetjul: Apr 27 2011, 10:21 AM

Prophetjul

You Da Man!

I think the Genneva (or consultants) may be hiring lawyers to sue you soon for "libel."

The amount? All the gold you have on you!

i am only interested as an investor.......therefore i ask QUESTIONS before i invest.
i am not driven by greed but by transparent profits and returns on investments.

So if they cant answer them questions, i dont invest. End of.

This is called DYODD

This post has been edited by prophetjul: Apr 27 2011, 10:27 AM

A friend said in 1998 gold (916) price per gram was RM44. Now it is around RM145 per gram> So if you walk into a jewellery shop, would you get the market sell rate for gold? btw, what is the difference between 916 and 999 gold? Just did some research 916 refers to 91.6% pure gold. Likewise for 999 (99.9%)

This post has been edited by ascend: Apr 27 2011, 10:48 AM

No. Jewellery shop will slap a heavy premium on workmanship , etc.

Maybe like the 25 to 30% on top of spot gold prices.

Simple. Take the gold to an independent assayer to verify the purity of gold as we did.
View the Certificate of Confirmation at http://mygoldgoose.wordpress.com/2011/04/1...ood-to-be-true/

On your "strong feeling they are gold plated tungstens, which are able to surpass most counterfeit test"... can you verify that? Any proof?

Having browsed through numerous websites, blogs, discussion forums and having read hundreds of comments on the net on Genneva Gold before investing myself, I’ve yet to find a police report or evidence claiming Genneva Gold is fake; nor anyone wrote they've been “scammed” or “cheated” by Genneva Malaysia. Not even one report.

Instead, I only found rumours, assumptions or predictions by naysayers, skeptics, Self-Appointed Prophets of Doom and Narrow-minded People Stuck in Old Economy Mindsets (i.e. old conservative ways of making money).

Perhaps I’m not thorough enough. If you come across any solid evidence –– I invite you to post here.

Cheers!

Any website provide the price of gold from all the bank in Malaysia?

Hi Propherjul, you're missing the whole point why people choose to invest in Genneva Gold Bullion.
Please read this page again - http://mygoldgoose.wordpress.com/about/

Let me try to explain in another way. Go to the row of goldsmith shops at SS2, PJ. Same product i.e. gold, but price per gram varies from shop to shop. Each set their own price. In addition, do they give you any returns per month be it 916 or 999 PAMP gold builion that you buy? An obvious no.

Think out of the box. Investing in Genneva Gold is similar to placing your savings in Fixed Deposit, i.e. you lock in a certain amount for a certain period of time and you get an assured return be it 1-mth, 3-mths, 6-mths or a year. You have your miniscule return at current FD rates and your capital is protected 100%.

The same applies with investing in Genneva Gold. Whether the price of gold goes up or down, your capital is protected 100% with 1.5% return every month (for a tenure of 6 months); and you get to keep the gold in hand. This also means 18% returns per year, while you hold the 999 pure gold in hand.

At the end of each tenure (6 months) you can then return the Gold Bullion at the same price you bought at, or go for a second contract at the current daily gold price as you saw at http://www.goldbeam.org.my/

Your last point, you're only confused as you have not done enough background research and dug deep enough as we did.
Hence our respect and high confidence this company is here to stay and will succeed.

FYI, Genneva SB, Samudra-GV SB and Genneva Malaysia SB are three separate companies. While Genneva SB was being investigated by BNM, their assets and bank accounts were frozen. The directors ensured their investors continued to receive their monthly returns through Samudra-GV SB. Genneva Malaysia SB has fulfilled all Bank Negara’s requirements as a scheduled Institution under Section 21(1) of the Banking and Financial Institution Act, 1989 (BAFIA); and classified under First Schedule of Anti-Money Laundering and Anti-Terrorism Financing Act, 2001(AMLA) as a “Reporting Institution”... and has since been growing from strength to strength.

Cheers!

i have read enough. Perhaps you have not researched the company enough.
i am not confused at all...just extremely cautious due to the very questionable conduct of
the directors of the connected companies, past and present

Gold is a relic and a relic of value storage. It does not need to give interest.

You have not answered

a)How can a product which gives interest be Shariah compliant? Cos you say so?

b) It acquired a defunct franchise company and parked this product there. This particular product is
not explicitly approved by BNM although the company was for a different product

c)

Thats a hefty premium....afterall whats 1.5% p month?

d) Why cant they deliver the goods immediately? Why 3, 6 or 9days?

e) This is the BIGGEST question of all



You CAN! Provided the merry go round does not stop.........

i have provided enough questions.....tis will be my last post on this scheme.
Those who wanna read more...... http://www.lioninvestor.com/the-gold-label...#comment-106549

Those who have ears, let them listen.......

PatEagle

May I state that not everyone in this country is aware of this forum or this thread for that matter.

Even if there was a police report made against you, your family, your friends, colleagues or company, the information would have not been made public until it has been investigated thoroughly, and the police does not have to let you know they are investigating until there is a clear case for prosecution.

The only time anyone finds out about anything is when it reaches the media or when the police make an arrest.

As well, those who have been cheated may not necessarily want to disclose the fact that they have been cheated. If each person who was cheated, raped, burgled, murdered, beaten, libelled and whatnot reported their case, the police would have their hands too full to look after the rest of the public.

Prophetjul has made clear that due diligence is the main criteria, and I would concur with him. If we would only listen to you without due diligence, then wouldn't it be remiss to not cross check the information from other sources? Does it require a police case to be considered illegal?

There are a lot of direct sales companies in this country operating at many levels. You would have to at least be licensed by or be a member of a govt or well known body (like BNM or Direct Sales Association of Malaysia) to at least claim some credence to the legitimacy of your preferred business.

An entity such as Genneva would be perceived by me as a deposit taking entity, but I do believe Genneva does not have a financial institution license. Maybe a goldsmiths license?

The rise of such entities of late outside of the goldsmiths arena can be alarming, simply because there are a lot of fly-by-night operators out there.

One doesn't have to cheat people outright, just give a good first impression before the con begins. That is why the term "con-man" or confidence tricksters exist. Bernie Madoff is one classic case.

If we're all sheeple, you'd be having a field day.

OFFICIAL : FED maintains QE2 & Near-Zero Interest Rate.
Awesome news for gold.
Gold just rising sharply after the announcement (USD1520.60 per oz)

http://www.rttnews.com/Content/TopStories....e=B1&Id=1607806

This post has been edited by FrancescoTop8: Apr 28 2011, 01:47 AM

Lovely isn't it? But silver is still a better choice in my opinion.

guys imagine those who bought last few years ago. hahaha

pub

This morn as i read the headlines in my local papers, one of them is another forex scam

My friend introduced this to me last year. It was operated by a TRUCK driver
who claims

to have mastered a system of trading the forex against the big guns and

WINNING!

He was making 30 to 50% pa for his clients in the last 2 years!

He showed me his returns in a slip showing a return of 120% in 2010........WOWZEEEEEE!!!!!!

The scheme was so well plannned. Investors do not deposit with the fella. They deposit
into a well known NZ investment bank and they will allow this genius to access the funds for trading.

This morning in the papers...

RM37M CURRENCY TRADING RIPOFF

In this world of greed, there will always be.......SUCK-ers

Remember this



Dont be a stat- prophetjul

Gold hit new high:

1,532.30 +15.70 +1.04%

Last year there was a case http://thestar.com.my/news/story.asp?file=...3232&sec=nation


Gold itself doesn't generate any interest.
Unlike bond, stock, they can self generating interest or yield, gold doesn't.

This post has been edited by cherroy: Apr 28 2011, 09:39 PM

with the same amount of money you spend on gold, spending on silver would yield greater in price hike.

can we buy silver in malaysia ...like gold account??

Yup, i also want to know? Silver account or physical silver? Where to get it?