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> Genneva proven a Ponzi Scheme, BNM says

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pandah
post Oct 11 2012, 02:19 AM

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auntie, the bear looks like mampos loh, now the company oso mampos liao, i hope u dun need to mampos together lor.
ray123
post Oct 11 2012, 02:20 AM

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Muzik untuk tatapan semasa mereka bersendirian memikirkan masa depan mereka.


aressandro10
post Oct 11 2012, 02:21 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.

how no investment can also give return? gold price appreciation and hedging system can achieve they say, lolwut?
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maybe they got the blood gold from slave child miners in africa for dirt cheap price...
digitalcode
post Oct 11 2012, 02:22 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.

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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Imagine that I sell you 8 keping SGD$1 notes for RM25 (SGD$10). I promise to give you SGD$0.20 every month until you want your money back in full.

So in actual fact, I only borrowed SGD$2 from you and willing to pay you SGD$0.20 every month (that's a 10% monthly return, or 120% annualized).

The currency fluctuations will give you a similar idea to the fluctuations in the price of gold. Even if the price of gold double each year, it's still a rugi business... (sorry, 2.22am, maths may be wrong)
HighRoller84
post Oct 11 2012, 02:26 AM

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QUOTE(Balaclava @ Oct 11 2012, 02:18 AM)
user posted image

om nom nom nom
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hmm.gif Not sure if milf or not...
SUSrandyhow
post Oct 11 2012, 02:40 AM

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QUOTE(digitalcode @ Oct 11 2012, 02:22 AM)
Imagine that I sell you 8 keping SGD$1 notes for RM25 (SGD$10). I promise to give you SGD$0.20 every month until you want your money back in full.

So in actual fact, I only borrowed SGD$2 from you and willing to pay you SGD$0.20 every month (that's a 10% monthly return, or 120% annualized).

The currency fluctuations will give you a similar idea to the fluctuations in the price of gold. Even if the price of gold double each year, it's still a rugi business... (sorry, 2.22am, maths may be wrong)
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bro... it just imaginary gold,... some investor got the gold is just for show,... if 60.000 investor go claim for their gold, even Genneva really got money to buy it (which they don),...the market can't supply it, .... go figure...
Polaris
post Oct 11 2012, 02:44 AM

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Malaysians too backward to understand Ponzi
TruthHurts
post Oct 11 2012, 02:50 AM

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So anyway, how about the one who hold the Genneva gold anyway. Since the Genneva company is call ponzi and will be shutting down soon.

Question.

1. How can the person who hold the Genneva gold get back his cash ? Since the Genneva give you gold for assurance, without the company, how much your gold will worth ?

2. Due to Name strap on the gold bar, wont the gold bar value from the company eventually be bought by goldsmith in a low price.

3. Risk buying a gold from Genneva.. Could be tungsten filled assumed by gold smith.. hmm.gif


SUSslimey
post Oct 11 2012, 02:54 AM


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QUOTE(TruthHurts @ Oct 11 2012, 02:50 AM)
So anyway, how about the one who hold the Genneva gold anyway. Since the Genneva company is call ponzi and will be shutting down soon.

Question.

1. How can the person who hold the Genneva gold get back his cash ? Since the Genneva give you gold for assurance, without the company, how much your gold will worth ?

2. Due to Name strap on the gold bar, wont the gold bar value from the company eventually be bought by goldsmith in a low price.

3. Risk buying a gold from Genneva.. Could be tungsten filled assumed by gold smith.. hmm.gif
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gold bar bought at a premium price.
gold price not that high. still lose
TruthHurts
post Oct 11 2012, 03:01 AM

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QUOTE(slimey @ Oct 11 2012, 02:54 AM)
gold bar bought at a premium price.
gold price not that high. still lose
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Its not about the price .. Its about reselling it. Even there is a market price for gold, the person who wants to buy it will want it for a lower price compare to the market.

SUSslimey
post Oct 11 2012, 03:06 AM


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QUOTE(TruthHurts @ Oct 11 2012, 03:01 AM)
Its not about the price .. Its about reselling it. Even there is a market price for gold, the person who wants to buy it will want it for a lower price compare to the market.
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so? resell then. still lose. same thing
Balaclava
post Oct 11 2012, 03:09 AM

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QUOTE(Polaris @ Oct 11 2012, 02:44 AM)
Malaysians too backward to understand Ponzi
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It's been a long time since I've seen a proper reply from you pola
TruthHurts
post Oct 11 2012, 03:17 AM

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QUOTE(slimey @ Oct 11 2012, 03:06 AM)
so? resell then. still lose. same thing
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Sad for people to hold Genneva gold .. lose both side but at least still get some of his/her money back via solid gold sale than those who dont recived anything at all.

yinchet
post Oct 11 2012, 03:21 AM

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QUOTE(TruthHurts @ Oct 11 2012, 03:17 AM)
Sad for people to hold Genneva gold .. lose both side but at least still get some of his/her money back via solid gold sale than those who dont recived anything at all.
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not all get genneva gold.
seather
post Oct 11 2012, 04:11 AM

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i think those ppl who r making most noise r those who borrowed money to invest.... so now owe ah long/bank/relatives 1mil but only have 750k worth of gold at market value...

those who bought the gold with cash... if got physical gold can still sell at a loss... life goes on after a painful lesson
SUSOptiplex330
post Oct 11 2012, 06:41 AM

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QUOTE(w3er @ Oct 11 2012, 12:02 AM)
U know how long already this genneva has been operating?
And how many complains have been lodged against them???
The gov, police and BNM, not only went silent mode, but did nothing against them for so long

And genneva was growing bigger and bigger each day
No thanks to mamaktir and rosmah help
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Malaysia is a democracy and you are innocence until proven guilty. The alternative is communism whereby they can straight away put a bullet in your head. So which do you want? You seem to put everything wrong on BN. Yes, they did many thing wrong but surely you can't blame everything on them? I bet you also blame them for your kampung chicken not laying eggs. Grow up.

SUSjaymansion
post Oct 11 2012, 07:26 AM

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QUOTE(Optiplex330 @ Oct 11 2012, 06:41 AM)
Malaysia is a democracy and you are innocence until proven guilty. The alternative is communism whereby they can straight away put a bullet in your head. So which do you want? You seem to put everything wrong on BN. Yes, they did many thing wrong but surely you can't blame everything on them? I bet you also blame them for your kampung chicken not laying eggs. Grow up.
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chill bro...good morning biggrin.gif
faizeq
post Oct 11 2012, 07:31 AM

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It's the current scam nowadays.
Government already can sniff this. You all lives in the internet age yet doesn't know squat about whats happening. Read through the world scams and you'll see lots off scam involving gold especially in Europe at the moment.
Nothing is easy in life and people will always try to cheat money at every turn... simple rule of life also cannot see..

snetha11
post Oct 11 2012, 07:40 AM

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QUOTE(ruffaz @ Oct 10 2012, 11:09 PM)
calling genneva troopers to come in and defend
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Added on October 11, 2012, 7:42 amwas listening to BFM earlier today. the agents/customers are still defending genneva tongue.gif

This post has been edited by snetha11: Oct 11 2012, 07:42 AM
zeroonetwo
post Oct 11 2012, 07:59 AM

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QUOTE(snetha11 @ Oct 11 2012, 07:40 AM)

Added on October 11, 2012, 7:42 amwas listening to BFM earlier today. the agents/customers are still defending genneva tongue.gif
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I was listening. The lady kept on "po pek po pek genneva legit. U affect livelihood of 300,000 people, po pek" the Malay guy was at least still calm.

Really kena brainwash damn kao. Either that or becoz they earn too much money from this liao.

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