It's coming...really really soon...
Cash out now....
QUOTE(EddyLB @ Jul 21 2012, 01:38 PM)
Yes, it is free capital from greedy investors. If gold price going up, no problem. The business model works. In fact, when the customers renew, they have to pay to the company margin of higher gold price --> cash inflow
But if gold price comes down, they offer this guarantee to buy back at ORIGINAL price.
When gold price comes down, customer will insist on cash instead of holding gold. That is the time it will affect their cashflow. How do they service the loss ? You know I know lah
Another important ingredient in this business model (and in all other ponzi scheme) is customers' confidence. If no fresh customers funds + existing customers insist to cash it out, the business will fall.
The company is recently :
1. declared non-halal by Islamic authority
2. in the Bank Negara list of "non-authorised nor approved under the relevant laws and regulations administered by BNM"
3. gold price looks stagnant or heading down (interest 2% still have to service)
4. increase the interest to 3%pm to attract old customers not to cash out (ie avoid cash outflow)
What does that mean ?
But if gold price comes down, they offer this guarantee to buy back at ORIGINAL price.
When gold price comes down, customer will insist on cash instead of holding gold. That is the time it will affect their cashflow. How do they service the loss ? You know I know lah
Another important ingredient in this business model (and in all other ponzi scheme) is customers' confidence. If no fresh customers funds + existing customers insist to cash it out, the business will fall.
The company is recently :
1. declared non-halal by Islamic authority
2. in the Bank Negara list of "non-authorised nor approved under the relevant laws and regulations administered by BNM"
3. gold price looks stagnant or heading down (interest 2% still have to service)
4. increase the interest to 3%pm to attract old customers not to cash out (ie avoid cash outflow)
What does that mean ?
Jul 23 2012, 11:25 AM

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