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> Genneva proven a Ponzi Scheme, BNM says

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Balaclava
post Oct 11 2012, 01:48 AM

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QUOTE(ray123 @ Oct 11 2012, 01:47 AM)
I already said I was right why you people still arguing.
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to see who gets to ride your d*** i think.
Balaclava
post 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.

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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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
Balaclava
post 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.

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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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? smile.gif
Balaclava
post 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.

how no investment can also give return? gold price appreciation and hedging system can achieve they say, lolwut?
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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.
Balaclava
post Oct 11 2012, 02:18 AM

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user posted image

om nom nom nom
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

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