WOW?? THIS TOPIC STILL ALIVE !

I wondering is that MSIA dumping gold and cause GOLD market falling?? LOL!

let's have a picture ...



Good Luck Investor ! Glad that you still have 2% per month , otherwise you have to hug the gold for another 20years !

Opps ! Genneva is still in "jail" right? hehehehe

Hahaha I wish Malaysia was so powerful. I believe the gold prices are falling because there is recovery in the US economy and the USD is stabilizing. If and when Europe gets their act together I expect further decline in the price of gold.

I have a very personal view on gold - its price is not reflecting the actual demand.

China has less than 2% (1K tonnes) foreign reserve in gold, whereas USA has 75% (8K tonnes).

China definitely has to secure their RMB with gold ultimately. I guess, they buy the gold smartly, avoiding of stiring up the gold price exponentially. When drop, they take in volume, once price is bounch back, they buy little.

So, the gold price will not be going up exponentially, but gradually. It may not be a good investment option for retail investors.

Don't touch anything related to CHINA....
If China start buying GOLD, we better avoid it....

A shitty example of the CHINA jinx is their share market...
Ever since 2007/8, their market is like shit all the way down.....
even though their economic numbers are good...
maybe they learn from Genneva how to massage their numbers

http://www.facebook.com/GennevaMalaysiaSup...287294641388434

The consultants can't stop fooling their customers and the public...

Can you translate to English ?

In short, those who have been called by BNM for interview, they have got back their gold bars...consutants, thai royal families....

Oh no my GLD ETF. Didn't cash out this week!

So I think they should queue up in front of BNM to be interviewed

Terry, don't u think all these seems so strange? I understand from some postings (not confirmed) that the Thai Royalty had invested heavily into GM, had not gotten their gold and was about to sue GM. And what about those consultants who were interviewed by BNM? Was there some sort of plea bargaining going on. Info in exchange for the gold. Remember that AA's statement yesterday that the info he got after 1 week of interview with the consultants lead them to believe assets were transferred abroad. So the consultants interviewed must have spilled the beans perhaps in exchange for the gold. Frankly I think its pure speculation and rumor mongering.

This post has been edited by Akonn: Nov 3 2012, 11:46 AM

I am glad to note that the discussions have now gravitated from pure bashing to intellectual discourse after a warning from the mod.

They are just buying time these CONsultants. Can you imagine how many phone calls a day they get from their investors not including threats especially those who collected hundreds of thousands from people. So strategy is to keep feeding them with hope - if they can "buy" one week with one spin that is one week of peace

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Added on November 3, 2012, 11:55 amThis forum has always been focused on highlighting the truth and revealing the lies by the CONsultant. We love to hear something intellectual from you Rayma - I mean raynman

This post has been edited by terry8: Nov 3 2012, 11:55 AM

chinese paper really got so much more! english paper latest news still dangling at 30th October latest updates

Nanyang SiangPau news, same like yesterday by ChinaPress but no mentioned of Genneva's fund transferred overseas.

http://www.nanyang.com/node/488876?tid=772

this columnist/economist's title basically say Genneva = Ponzi
http://www.nanyang.com/node/489008?tid=809
those who understand mandarin it is a good read

My Translate edited most of google translates failed. hopefully:

By the Bureau, and came: Genneva 10 billion investment in chaos • Yang Ming Wan

2012-11-03 11:03

When the the authorities raid in early October after a full month of gold investment company Genneva, Deputy Finance Minister Datuk Dr Wang Adek answer Members' inquiries in Congress, finally blew the whistle on this so-called illegal gold investment plan the company's bottom line.

One is just the name of the gold trading flagship company as the main business, about 35,000 people turned out to have an investment account in the company, involving an investment of up to 10 billion ringgit, similar like a small bank.

This is only the BNM has taken action against four one gold investment company, is also asking people to be vigilant of BNM a total of 88, similar to the financial industry in which a company without the BNM authorization.

These 88 companies, including the aforementioned four companies have been banned and the other 84 are still observing.

Accounting for a deposit of 2% of the total

Genneva RM10 billion investment, equivalent to domestic individuals as of September this year, more than 2% of the 500 billion ringgit in total deposits in the banking system.

Payments made from a gold trading company, and the entire banking system, all banking institutions and all the country's total population individual deposits compared with 2% proportion is staggering.

Imagine if 50 unauthorized companies of a similar size to receive deposits, if the amount is equivalent to the total amount of personal deposit accounts for the entire banking system.

From the tip of the iceberg of Genneva reflects a development of all similar "business" able to form into another alternative financial system without the supervision of the BNM.

Not to mention the BNM lists to promote awareness of these companies as many as 88, as long as each company an average of 5.7 billion in investments or deposits, the total number is equal to another available to personal investments or deposits of the financial system, and rival of the current banking system.

Genneva billion investment cases prove reinvent the wheel, and the establishment of another illegal financial investment system in the name of a store of value for the public money is not impossible.

Take the current regulatory system of the BNM, in the tight control of legitimate domestic banks and financial institutions, the tribe of illegal outside by reminding and asking people to be vigilant, they suspect that the company is listed on its website observed only quiet in the next, until these wings grow older into before taking action against results has tens of thousands of people hurt.

According to the website of the BNM, in 88 companies under observation, 25 operating gold investment, including Genneva and been banned three companies, and 17 to engage in foreign exchange transactions, or unclear business descriptions, but finance-related businesses operating under the license is not obtained.

These by the observation of the company did not clearly indicate that the business is up to 46, more than half of the 88, or more than 52%.

Three types of those businesses all have done their best, the availability of the public trust in the banks low interest rate environment, almost always. From Genneva investors reacted to the government on the ban, can be seen for this type of investment they have established a strong confidence, no timely action, fear would pose a threat to the government to build the system of strict supervision of banks.

Low interest rates financial imbalances

The high rate of domestic savings, low interest rate environment, it is long overdue anticipated this situation will occur.

Tan Sri Zeti, president of the BNM, the beginning of last year, has stressed that BNM to raise interest rates, that the BNM raised interest rates too low in the year after the financial tsunami to normal levels. Otherwise this can be fear that will bring financial imbalances in serious consequences.

In fact, as early as the end of the previous prime minister Tun M era, our economy from the past high growth and high interest rates, steering to low interest rates to stimulate domestic consumption-led economic strategy, financial imbalances had begun .

Genneva gold investment program launched seven years ago, the other gold investment companies also mushroomed set up, reflects the high savings rate, the desire for high returns income, if there is no appropriate measures to curb this desire will cause the current financial imbalances phenomenon.

Therefore, the BNM had at every step, the Monetary Policy Committee next Thursday, cannot just look at the economic situation to mobilize interest rate.

As for Rayman, just like the Mod said, if u have nothing constructive to share pls shut up, we not interested to know how you feel whether glad or sad.

Read from this site that there are also some LYN members joined as consultants. if it's true..wonders what happened to them.


Genneva CONsultant Lowyat page:
http://forum.lowyat.net/topic/1888957/all

That is the infamous Pat Lu everyone loves bashing in here!

CON sultant haha

I think they are running out of steam at the GMS page. I hope reality will soon seep in for them. Anyone can offer a reason why the number of people who like their page consistently go up by a few hundred a day ?

Anyone can hit the like button. Even those without a Facebook account. Quite a few have done so just to slam them.

I was wondering why someone mentioned the Thai royal family in the GMS page. Didn't know it was because they invested heavily. I don't care if it causes a diplomatic incident. We are not compensating them from public funds. However, if bnm wants to pay them back first ahead if other victims, than its none of business.

BNM had already stated officially that all seized assets can only be release through court instructions or through a court order. If indeed they had released any gold/monies to the Thai Royal family or any consultant, it will be a great hypocrisy on their part besides a contempt of court and a total betrayal of the peoples' trust in the Central Bank.

trinity3 warned everyone about this scheme back in June 2011..and question this as "dodgy" scheme eventho at that time,
this company hasn't broken any laws. Trinity said, "It has and will implode on itself sooner or later."

Trinity is proven correct!