GENNEVA MALAYSIA, some facts.., READ and UNDERSTAND
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 Oct 2 2012, 09:38 AM
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#1
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Staff
5,568 posts Joined: Jan 2003 From: the lack of sleep  
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QUOTE(ManutdGiggs @ Oct 2 2012, 09:09 AM) I do hope to c the annoying me around to clarify all sort of nonsense he told us for the last few wks. Hope he is still ok. Not beaten gao gao. I believe he's already bid farewell to this forum on the 26th of Sept if you were to trace back a few pages. |
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Oct 3 2012, 09:24 AM
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#2
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Staff
5,568 posts Joined: Jan 2003 From: the lack of sleep
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QUOTE(ManutdGiggs @ Oct 3 2012, 09:09 AM) Bro, nice break down. But I'm not aware that buying gold in bulk can giv us discount??? If u dun mind, can u pm me the details of where to trade forex gold??? Spot gold trading is offered by all forex brokers. Just like trading currency, you are not exactly buying any currency or actual gold but I believe you already know that. Too keep it short and not to derail this topic, you can't do spot gold trading with any company in Malaysia and has to be performed with foreign brokers online. In Singapore, you should be able to trade currency and gold with Forex brokers legally.I hav been trying in singapore but its not easy cos need to sit for test and since I'm not a singa, so a lil diff. Thanks |
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Oct 4 2012, 10:50 AM
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#3
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5,568 posts Joined: Jan 2003 From: the lack of sleep
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I do have one rather interesting question. From what we can read in the media, it's a one sided story. Genneva is a victim of BNM raid. Fair enough, maybe media's wrong. Search the internet and you cannot find a similar complain group like the one in Singapore. Of course BNM said that they raided due to complains by the public but as a public, I see more people defending Genneva than condemning it (except in this topic). So have they actually been a good paymaster the last 3 years that everybody is rallying behind the company instead of condemning it?
I'm just putting this question into perspective. Who are the actual victims here? People are not getting their hibah and commission because of BNM raid, and not because of Genneva not paying them. That make sense for them to rally against BNM. So are there actually any victims in this topic? This post has been edited by sleepwalker: Oct 4 2012, 10:51 AM |
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Oct 4 2012, 11:00 AM
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#4
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5,568 posts Joined: Jan 2003 From: the lack of sleep
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QUOTE(kiasunkiasi @ Oct 4 2012, 10:55 AM) Only stupid or greedy people will say that there is nothing wrong in paying 25% premium on a "product" and getting back a fixed return every month... can't they tell that they are paying themselves? Of course if you look it at that way it is stupid but for people with Genneva for the last 3 years, they did not lose any premium (since they get it back every 6 months) and have been gaining 1.5-2% every month for the last 36 months. That is why I'm still asking the same question and nobody has answered.ARE THERE ANY VICTIMS IN HERE who has been scammed by Genneva and not BNM's raid? |
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Oct 4 2012, 11:29 AM
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#5
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5,568 posts Joined: Jan 2003 From: the lack of sleep
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QUOTE(ebackbone @ Oct 4 2012, 11:22 AM) let me enlighten you. Correct but that is not what BNM is raiding Genneva for. That is why there is so much noise about this raid. BNM is hoping to uncover a ponzi scheme by raiding on the fact that Genneva is not licensed to accept deposits. Now who wouldn't be angry over that.go look up http://en.wikipedia.org/wiki/Ponzi_scheme for TLDR: 1. in the early stages of the ponzi scheme, there is no fear, everyone is celebrating because the promises are being honored (just like the genneva gold situation) 2. once the later stage investors starts to come in and grow to a unsupportable level, the scheme unravels and trouble arises from not being able to honor their promises (like case of genneva where investors start to receive delayed interests and longer periods for retrieving their physical gold) 3. at critical stage, the scheme unravels and all hell breaks loose. government securities are forced to swoop in because too many reports about the promises from the scheme is being unfulfilled and consumers screaming for blood. For BNM's sake, they better expose some major Ponzi scheme linked to some major Datuks... otherwise they are going to end up like MACC... Added on October 4, 2012, 11:32 am QUOTE(anudora @ Oct 4 2012, 11:12 AM) Good question! Correct but as per my reply just before this, they are not going after Genneva for being a ponzi. For the sake of BNM, they better dig up some major ponzi scheme or they are going to face a setback like MACC...I would be honest with you. I donno about that and cannot answer it. However, I have another much more interesting question. In the example of madoff scam, are there any victims that had been scammed by the company in the early years (before the company go bust) ? If the SEC had raid Madoff in early year, who the people are gonna blamed? Blame SEC for raiding OR Blame Madoff? The Madoff scam went undetected until the company bust and then people blamed SEC for not doing the job. So what SEC need to do? Interesting??? This post has been edited by sleepwalker: Oct 4 2012, 11:32 AM |
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Oct 4 2012, 11:41 AM
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#6
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Staff
5,568 posts Joined: Jan 2003 From: the lack of sleep
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QUOTE(Stimx @ Oct 4 2012, 11:39 AM) If ever the company is revived, everyone will cash out..  more chaotic...  |
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