Nope. Can't feel sorry for all of them. If you ask me, I think only a handful of them are true believers that Genneva is a valid company after all.. After all, I did take the trouble to read through V1 of this thread and I'm sure Pat Lu herself did so too back when she was still active here. In other words, she got fair warning that she chose to ignore. Basically, every single member of GMS who participated in the first thread have only themselves to blame. Zero sympathy for them.

If you ask me, their thought process is not as deep as you suggest. It all seems like tai-chi to me. The consultants are trying to deflect anger towards BNM instead of themselves.

Its like I have mentioned earlier. I do sympathize with the victims who bought Genneva Gold because they were talked into it by family members or friends that they trust. Some of the consultants themselves likely did not know better too.

However, I am not convinced that Pat Lu is entirely ignorant of their Genneva's operation. Also, quite a few of the folks on GMS work in the banking, finance, or insurance field. Quite a few of them have degrees from prestigious universities. These people are supposed to know better, yet you see them railing against BNM instead of Genneva too.

Those people, I have no sympathy for whatsoever. Accept you made a mistake and move on with your life, I can be more understanding. Blame everyone else for your own problems, you can go dai.

I believe the personal accounts of the directors are frozen as well to prevent flight. After all, it is suspected that they embezzled the money for themselves.

Whoa, check out the new banner for the GMS facebook page. I wonder if Dr. M approves.

I am not going to debate the merits of FRB here because that would be off-topic. However, its not like the introduction of such a system will stop people from investing in ponzi schemes. If anything, it will only exacerbate the problem. In all likelihood, banks will just lower interests paid and introduce new banking charges while increasing existing ones in order to make up the shortfall of profit from decreased loan revenues. This will only discourage even more people from saving in banks and to put their money in dubious schemes that offer higher returns.

So no, your idea does not help one bit.

She was once a potential candidate with Gerakan for the Bukit Gasing state seat. I wonder what her former Gerakan colleagues have to say about the political vitriol she's spewing at BN now. Even if she can claim she's not responsible for any of it, at the very least she's condoning the actions of those who are.

Anyway, if PR somehow comes to power during the next GE, I expect the aftermath will be hilarious.

GMS: We helped vote you in power. Now tell BNM to give us back our gold!
Pakatan: WTF? No.
GMS: Pakatan also corrupt! Down with Pakatan!

Not exactly as much of an inconvenience as you might think. Many of the 'foreign' banks like OCBC & UOB (Singapore), along with HSBC and Standard Chartered have accounts that allow you to withdraw from MEPs ATMs at a RM1 fee.

Even so, the very idea that they seem to think that they are able to hurt the banks in any way is laughable and shows just how little they understand about economics and finance (but if they knew better, they wouldn't have invested in Genneva eh?).

Anyway, they still have so much money left in banks meh? I thought all withdraw already to buy gold? If they have so much money left, why bising-bising say cannot pay medical bill and all that? How come those of you who have money are not offering to help those who don't? I thought you people were a family?

You see on GMS got some guy in a wheelchair say need heebah to pay medical bills. On the other hand, Pat Lu is thinking of buying SGS3.

Samsung Galaxy S3. Either that or she wanted the Note 2. Cannot remember. I just remember she lost her phone while eating lunch at a Japanese restaurant at Berjaya Times Square.

Bullshit free zone mar. Means people are free to bullshit. Anything that is not bullshit will be deleted for not conforming to their rules and regulations.

I'm waiting for that suit against BNM. They keep talking on GMS about suing BNM but I don't see anyone having the balls to initiate it.

I am rather amused to see the princess of Pahang being named as a defendant. The lawsuit would be interesting...

I am truly amazed at the logic of those GMS folks.

FYI, its a no-lose situation for those who sue.

If they win, I am not entirely certain if they this gives them a better claim than the other victims. However, what I am certain of is that they are the only ones to bring a civil lawsuit against the directors themselves. This means that their claim also extends into the director's personal wealth. The rest of you who didn't bother to file the lawsuit will just get to divvy up what BNM confiscated.

On the other hand, if they lose. Let's say Genneva proves to be legit after all. What makes you think they'll get only dust? The company is still legally obligated to fulfill existing contracts. These 9 have not received their gold. Genneva is still obligated to deliver. Their claim is not diminished by the lawsuit. Their only real loss would be legal fees which are covered by UMNO.

So the smart thing to do is to take advantage of UMNO's offer. You have everything to gain and nothing to lose.

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Added on December 21, 2012, 11:13 amI am honestly surprised that these so-called economic experts on GMS have not bothered to work out the scenario using the Prisoner's Dilemna Game. Its so basic that even pre-U courses are teaching it.

This post has been edited by arubin: Dec 21 2012, 11:13 AM

Yup, they keep harping about physical gold and how banks only sell paper gold yet got this joker trying to sell his piece of paper.

I don't think this forum allows pictures to be uploaded directly. Upload to a 3rd party image site like imageshack or photobucket, than link to it here.

No offence dude, but that photo only shows 2 people in a shopping mall. Can't deduce anything more from it. Its one thing if you caught them walking out of Starhill with bags full of luxury goods, but this is quite normal.

Join the church of Genneva, where they honor Gold and put Heebah in the center of everything (discretionary, of course). Yet they also honor their lea...err, directors, because they are only human and are there to serve themselves.

Church open 5 days a week during office hours at Jalan Kuchai Lama. Everyone is welcome as long as they have money to buy Genneva Gold. Those who are too poor to buy gold are blasphemous heathens who are jealous of your wealth.

What the heck is with their hare-brained logic?

To quote:

Yeah, as if international banks don't do all that as well.

The banking industry is like a fraternity. It just looks like competition on the surface but they're all sharing the same pie in the end. Let's assume that these GMS folks really manage to gather enough people to move a lot of money from a local bank (we'll call it Bank A) to a foreign bank (Bank B) as to substantially effect its liquidity. What's just going to happen is that Bank B will just loan the money right back to Bank A. It'll be business as usual for Bank A except that they now have to pay interest to Bank B for the loan.

Congratulations, you have succeeded in moving a bunch of numbers around on some computer systems. You GMS folks must be feeling so proud of yourselves. What an achievement!

PS. All inter-bank transactions in this country have to go through BNM (the system is called RENTAS - read about it here.) who charge a small processing fee for each transaction. BNM thanks you for the business in advance.

PPS. Well, you do have a way around it. Withdraw all your money in physical form, haul it over to your 'foreign' bank of choice, and make a cash deposit. BNM gets nothing from this except amusement should you happen to be robbed along the way.

They won't dare. The current BN govt is already being perceived as being soft on corruption. If they dare to let Genneva off the hook in for the sake of votes, the negative backlash would be incredible. The rakyat (and I mean the majority who didn't buy into the scheme) would be scandalized. There will be a bigger outcry over this than the cowgate incident.

HSBC to Pay Record U.S. Penalty

Put your money in foreign banks, GMS say...

Well, things seem to be heating up at last. Dee Casey has spoken up yet again but as usual, they are playing tai-chi with the issue of leadership.

https://www.facebook.com/notes/genneva-mala...307250736059491

And get a load of this post:

Someone has an inflated opinion of their value to this country as a voter...

And yet again:

They still think they can get PR on their side? Whats with all this sieving through the whole mechanics of Genneva? I thought it was all top secret info that is more confidential than the formula for Coca-Cola?

Interesting, but does this apply only to Muslim investors than? What about non-muslim investors? After all, this 'hibah' is an Islamic principle.

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Added on December 24, 2012, 7:58 pmBtw, been digging around on the forum and I found this old post:

http://forum.lowyat.net/topic/1826578/all

Do note this particular post by Lulu herself.

Bwahaha, she bought into his claim.

Btw, Pat. Did you know that I am on the board of a fortune 500 company? Which one? ALL of them. Also, I'm Batman!

This post has been edited by arubin: Dec 24 2012, 07:58 PM