Has been raids before by BNM, BNM oledi "BAN" all their Director from collecting money from people a couples of month ago... But heard before one director got jailed for 24 years & 3 others "sudah cabut" to Hong Kong, this director not sure from with or without Malaysia...

This post has been edited by Oldskolboyz: Jul 12 2012, 09:51 AM

The current one mostly Malay Director which has been ban by BNM cause accidentally I meet them middle last month...

If they give to you a Physical Gold as exchange with the money has been spend should be OK but not good enough without black & white where they stated, >100% they will buying back the physical gold at current price & at any time as you wish.

If they only provide/give you statement showing how many gold has been bought/invest by you than pleased avoid this trading transaction. Cause 200% they don't even have physical gold in hand (this type of scams has been known globally), what ever they have in hand just for showing only to attract their next victims..

Actually they got but keep it all at BNM, BNM monitor the their sale should not exceeds their stock. Stock mean in WEIGHT not RM, my group doing some research with Financial, IPTA student & several Govt Agency group on Gold Trading 2 or 3 years back...

This post has been edited by Oldskolboyz: Jul 31 2012, 12:44 PM

[quote=prophetjul,Jul 31 2012, 01:34 PM]
Where did you get this?

Any link? Thanks

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Added on July 31, 2012, 1:38 pm
U ask link ka? None Central Bank in this world would put it on the net... What for?

[quote=prophetjul,Jul 31 2012, 02:13 PM]
[/quote]
Then says WHO?

Issit a perception or fact?

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Added on July 31, 2012, 2:15 pm
Easy.............ask yer banks who sells you gold in gold accout whether they have the physical backup.

i used to invest in public bank gold a/c. When they first started, they allowed request for physical withdrwals.
Then 6 months along, they stopped the practice. i wonder why?

[/quote]

Why you confused between investment in Gold Stock Market Vs Physical Gold. Bank Gold A/c was investment in Gold Stock Market where invest by their Treasury Division. Similar with Unit Trust, ASN/ASB & etc investment. We are talking physical gold trade either in coin, pallet or etc here. Actually bank stock was in BAR, not even process to coin/pallet shapes yet. When got buyer than they process it, normally in limited edition. If I remember correctly last time got a few bank do sale it like UOB, KFH & BNM.. If bank sale Kijang Coin that one BNM product..

This post has been edited by Oldskolboyz: Jul 31 2012, 02:46 PM

If depend on investor itself, bank just one of the option to inter gold investment with 120% secure rather than through unknown 3rd party trader/source. Mostly people will choose the almost secure way to protect their fund. Before can bought directly, we need some sort of acc like CDS but not many people has CDS account especially rural/village or small town area people..

This post has been edited by Oldskolboyz: Jul 31 2012, 03:03 PM