TS, I have my own doubts about these investment schemes, but I don't get how your post 'proves' anything? BNM just explaining why they raided. Still under investigation.
Genneva proven a Ponzi Scheme, BNM says
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 Oct 11 2012, 12:31 AM
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Oct 11 2012, 12:44 AM
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QUOTE(randyhow @ Oct 11 2012, 12:37 AM) duh,.. owh. so, BNM already know Genneva is a ponzi, then the subsequent raid and investigation is to find more proof lah...  BNM can check the company asset and their operating account to verify their claim on trading gold or not,... and whether capable of buying back and paying interest to their customer,... how do u hide any bank or money transaction from BNM ??? they are center bank,... they got access to any bank account statement....  I only started reading a little bit about this news, but I was wondering, if people are asking BNM to faster finish their investigation, and then if the investigation finds nothing, then what next? still guilty right? |
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Oct 11 2012, 01:36 AM
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QUOTE(aressandro10 @ Oct 11 2012, 01:13 AM) it think the graphic is halfway... 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).when a buyer paid for 10 piece of gold, not only he get a physical 10 piece of gold, the company also kindly enough to given him RM 4k bonus for six month... beside being too good to be true, i dont see where is the catch... |
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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. 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.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... 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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Oct 11 2012, 08:25 AM
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QUOTE(randyhow @ Oct 11 2012, 02:40 AM) 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... Oh, you mean the investors don't get any real physical gold for all the money they dump in? shaitz.. that sucks |
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