First thing, bank do not buy gold which does not belong to them.
Second, Goldsmith shop especially those listed company do not accept trade in for cash if there is no receipt or receipt is not issued by them. This is to avoid robbery issue and practice good responsibility to the customers and social. So there is trick that people will change it for gold bar then only sell it for cash which will go through double deduction.

Lets say the sale gold price:
Bank: RM165 [cash deal]
Goldsmith shop (PK and Tomei): RM195 [accept cash, credit card, ezypayment 12% without interest for some bar]
Genneva: RM215

Buy back price
Bank: RM158 (dispersion 4% average from RM165)
Goldsmith shop (PK and Tomei): RM170 (dispersion 12% average)


You buy 100 grams from Genneva, can't sell back to them due to some issue. So you go to bank but not acceptable. Go to goldsmith shop trade in for gold bar lose 25% of goldsmith shop price. So from RM215 (Genneva price) became RM146 (we use RM195 - 25%) then trade in for cash minus another 12% only left RM128. So total value disappear around 40%. You prefer to lose 4%, 12% or 40%? You prefer to hold paper gold or physical gold? Are you a risk taker?

This post has been edited by doraemonkiller: Aug 7 2012, 12:05 AM

WOW!! You really got very good imagination, very good analyst, can be a very good financial adviser and excellent investor!!
Keep it up!!

But are you very successful in your investment so far and very rich already or just merely an employee of a firm who is just a small player scratching your head every day to see where is the best place to invest your hard earned money?

Does it matter whether one is a small player?

An investment is an invesment, whether it be Rm1 or Rm1x10^6.

What i can see is he is refering to RIISKS......thats all part of investing, is it not?

You will be surprise if you do know me in real life. Ponzi scheme is not an ethic way to make fast money. Good luck dude

So boss, you think can you can get wealthy by investing in Gennevas' Gold?

Me small ciku.... Want to learn from boss like you.

Isn't it OBVIOUS enough? It is even splashed on The Star today's headline:

77 companies blacklisted by Bank Negara
http://thestar.com.my/news/story.asp?file=...6655&sec=nation


Genneva Malaysia Sdn Bhd is Number 22 in the list:
http://www.bnm.gov.my/documents/2012/Finan...lert_listEN.pdf

If people still want to jump in, GOOD luck to them...

If BNM has BLACKLISTED an company, does that not make their biz illegal? HELP!

It is illegal and no ethics in this Genneva biz. I believe in Zeti Aziz more than most of our politicians...

I am not a lawyer...as such, I am sorry that I am unable to answer your query.

Anyway, the public warning serves its purpose. If potential investors prefer to be ignorant or gullible, it is their choice and $$$.

This is an exact excerpt from the star's quoting:



Customer can also be charged for abetting the operators?

You guys missed me huh?
Genneva Malaysia Sdn Bhd is very much alive.

Check out their BRILLIANT newly launched website at http://www.gennevaworld.com.my

The golden goose is very much alive and kicking!

Wanna buy GENNEVA Gold, feel free to contact me directly at goldgoose.my@gmail.com

Have a blessed GOLDEN day!

This post has been edited by PatEagle: Aug 7 2012, 05:48 PM

ooh...sudah edit website...no more hibah

---

Added on August 7, 2012, 6:05 pmnonono

GENNEVA’s business model is based on the Syariah principle of “Al-Bai” (Sale and Purchase). To make the transaction more attractive, GENNEVA rewards its customers with discretionary payments pursuant to the Syariah principle of “Hibah.”

http://www.gennevaworld.com.my/?page_id=2

This post has been edited by Pink Spider: Aug 7 2012, 06:05 PM

Huah ! "discretionary payment" liao

Now the business model changed ? Terms and condition different already ? Anyone has the latest update on the effective returns ? Maybe now no more 24% per year ?

To comply with Syariah...now do "discretionary payment"...but bcos Genneva performance is so solid, they will "reward" customers every month without fail...

Perhaps you would enlighten us, how genneva generate their income.

oi I'm not Genneva staff/customer lar...can't u smell the sarcasm?

The other day we have this...
http://www.aljazeera.com/business/2012/07/...3513872418.html

Now got one more.....
http://www.aljazeera.com/news/americas/201...5518978631.html

How ??
Err.....is this how Banks generate income to pay you the few percent of interest per year ???!!!

Looks like banks are more into illegal business now....better withdraw all your money before they

This post has been edited by pokemonkiller: Aug 8 2012, 07:18 AM

i wanna my Syariah compliant product..............

Son, you are very funny....

1. None of the banks in malaysia have not been declared contravening any laws by BNM (whereas BNM has warned us about Genneva)

2. Other people break the law doesn't mean that you can break the law. Are you saying after you kill someone, and you show proof that there are other killers also kill someone, it will make you Ok to kill ?

Son, don't waste your time to compare Genneva with banks lah. Banks are trusted, listed co, big paid up capital, decades of operation history, protected with PIDM.

Genneva paid up capital is only RM50k. Start business only a few years. Its predecessor Genneva Sdn Bhd still have court case with BNM ongoing. Last month BNM warn the consumers. Islamic Authority declared you not halal. Consumer Association lodge police report.

What will consumer think ?

End of an Era of Gold Investment
Very Interesting on Gold.... Read through ok...

http://seekingalpha.com/article/779521-end...-gold-investors

The real price of gold is near the highest price it has been since the price was allowed to float in 1969. The last time gold was this high, the metal spent the next 12 years declining and did not hit bottom until it has lost 82% of its value in real terms. There is no really good reason to believe that the same exact pattern will be repeated this time, but we can be fairly certain that many of the factors that drove gold to the current heights are either unsustainable or that there exist other hedging instruments that are both cheaper and more effective. Gold might still go higher, but it is no longer a one way ticket. In the next decade, investors will need to hold a wider variety of alternative assets to hedge their traditional investments, and they will need to trade more frequently than in the past decade.

Please click on the link yeaa.... and don't invest in GMSB.... I know something that u don't...