QUOTE(ray123 @ Oct 11 2012, 01:47 AM)
to see who gets to ride your d*** i think.
Genneva proven a Ponzi Scheme, BNM says
Genneva proven a Ponzi Scheme, BNM says
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Oct 11 2012, 01:48 AM
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Oct 11 2012, 01:49 AM
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Oct 11 2012, 01:49 AM
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QUOTE(digitalcode @ Oct 11 2012, 01:36 AM) After some more reading, I think the 'catch' is just that you pay for 10 gold bars worth (RM10k), but you only get 8 gold bars (RM8k). Genneva guarantees to pay you monthly interest, and guarantees to buy back your 8 gold bars in the future at the same price you paid (RM10k). so basically speaking, the buyer actually 'loan' a 2 gold bar worth of money to Genneva with interest. And in due time Genneva will pay it back.beside being an illegal fund collection and stuff, its actually quite legit. depending on how much is the interest rate they agreed, Genneva can afford it by investing the capital money and stuff... This post has been edited by aressandro10: Oct 11 2012, 01:50 AM |
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Oct 11 2012, 01:50 AM
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Oct 11 2012, 01:51 AM
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QUOTE(aressandro10 @ Oct 11 2012, 01:49 AM) so basically speaking, the buyer actually 'loan' a 2 gold bar worth of money to Genneva with interest. And in due time Genneva will pay it back. come on la..if people paying you dividends...you expect to know the source of the income right?yet no prospects or annual report is given at all.....beside being an illegal fund collection and stuff, its actually quite legit. depending on how much is the interest rate they agreed, Genneva can afford it by investing the capital money and stuff... |
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Oct 11 2012, 01:51 AM
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1,216 posts Joined: Mar 2009 From: Cut Throat Land |
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Oct 11 2012, 01:51 AM
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QUOTE(aressandro10 @ Oct 11 2012, 01:49 AM) so basically speaking, the buyer actually 'loan' a 2 gold bar worth of money to Genneva with interest. And in due time Genneva will pay it back. problem is: they are rolling it with other sheeps(brainless aunty and uncles that labels themselves as 'investors') money. then you loan me the money, I pay the other fella and so on and so forthbeside being an illegal fund collection and stuff, its actually quite legit. depending on how much is the interest rate they agreed, Genneva can afford it by investing the capital money and stuff... |
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Oct 11 2012, 01:54 AM
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Oct 11 2012, 01:57 AM
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Oct 11 2012, 02:01 AM
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Oct 11 2012, 02:07 AM
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QUOTE(Balaclava @ Oct 11 2012, 01:51 AM) problem is: they are rolling it with other sheeps(brainless aunty and uncles that labels themselves as 'investors') money. then you loan me the money, I pay the other fella and so on and so forth of course... but the question is what did they do with the capital money....if their other further investment can outrate the interest they agreed with then, no problem....funding kroni A level project for the government for example can achieve that.all the gold and stuff are basically a pretty exaggerate supporting document to fool the bank ( read : the sheeps ) for the loans. but it still somewhat sustainable... |
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Oct 11 2012, 02:09 AM
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Oct 11 2012, 02:10 AM
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QUOTE(aressandro10 @ Oct 11 2012, 02:07 AM) of course... but the question is what did they do with the capital money....if their other further investment can outrate the interest they agreed with then, no problem....funding kroni A level project for the government for example can achieve that. They only have 100kg of gold physically, and they managed to sell out more than 150kg of gold for instance. If every investors now insist on gold, where on earth they go dig? all the gold and stuff are basically a pretty exaggerate supporting document to fool the bank ( read : the sheeps ) for the loans. but it still somewhat sustainable... |
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Oct 11 2012, 02:11 AM
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but they tell you they not doing investment, not taking deposit, no generating interest, just give hibah as gift.
how no investment can also give return? gold price appreciation and hedging system can achieve they say, lolwut? |
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Oct 11 2012, 02:12 AM
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QUOTE(pandah @ Oct 11 2012, 02:11 AM) but they tell you they not doing investment, not taking deposit, no generating interest, just give hibah as gift. possible. but when gold price drop abit, they want hedge simi? and looking at the reactions of these 60,000 monkeys. I'd dare to say they went all in(super high gearing) putting all their leverage for the loan to buy these papers/golds. poor sheeps. better luck next time.how no investment can also give return? gold price appreciation and hedging system can achieve they say, lolwut? |
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Oct 11 2012, 02:13 AM
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Oct 11 2012, 02:14 AM
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QUOTE(Balaclava @ Oct 11 2012, 02:12 AM) possible. but when gold price drop abit, they want hedge simi? and looking at the reactions of these 60,000 monkeys. I'd dare to say they went all in(super high gearing) putting all their leverage for the loan to buy these papers/golds. poor sheeps. better luck next time. hedge their way to hell |
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Oct 11 2012, 02:14 AM
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1,157 posts Joined: Jul 2008 From: Petaling Jaya |
QUOTE(pandah @ Oct 11 2012, 02:11 AM) but they tell you they not doing investment, not taking deposit, no generating interest, just give hibah as gift. There are lots of ppl in denial that it was not ponzi scheme. how no investment can also give return? gold price appreciation and hedging system can achieve they say, lolwut? |
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Oct 11 2012, 02:17 AM
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Oct 11 2012, 02:18 AM
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om nom nom nom |
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