GOLD

[hanz079]

Sifu Hanz079, dun u think the recent raid was politically motivated?

What's make u think this got to do with politics?

Genneva did well n will continue to do well for sure...
B4 the raid...

Y?
Bcoz they paying all their customer...
They can afford to pay as long as

1. Gold price go up
2. Their customer base growth...

But I doubt their are genuine gold seller
With guaranttee return of 2% a month...
One yr compounding + overhead + sales agent commission + margin
They need gold price to increase more than 30% to sustain
In reality, nothing go up every yr > 30%

According the some expert, if they didnt do money laundering...
Looking at their business model, it's hard to proof them wrong...
They sell price above market but with guaranttee return n they pay their customer as promise
Shd b no case until they run!!!

But if bank negara can proof they try to fraud by
- their account is loosing money, with the high guaranteed return scheme they offered... N they still continue to growth their business this way n using future money to pay... They BNegara may b able to proof a point... But not strong though

N they can escape by saying... I like to loose money... My strategy mah... After killing my competitor only I cut down the promise return cannot meh?
Or he said my advisor said gold price will go up 50% next yr n I trust him...

Good point there chris.
I was about to ask which part is it that is politically motivated.
And moreover, if the raid is or is not politically motivated does not mean that the business model is flawless.
I have seen my posts last year and i just noticed gold prices have not gone up at all... Might have fluctuated in the middle but as of today, retail price of gold is still only rm202 per gram.

[IWCking]

I must conceive that i dunno the company well. But I suspect they work like some sort of pyramic scheme. Please feel free to correct me if you have more information.

[hanz079]

I must conceive that i dunno the company well. But I suspect they work like some sort of pyramic scheme. Please feel free to correct me if you have more information.

I believe you're absolutely right.
Get rich quick scheme, pyramid scheme, ponzi scheme... whatever else it's called.
Genneva Gold is definitely in that group.
It's funny how when they are raided now that investors come out in droves to complain.
For me, there are no happy endings here.

Scenario 1.
Authorities raid them now... people crying foul that this is a legitimate company and legitimate business.

Scenario 2.
Authorities raid them when they're all packed and gone... people crying foul that how come such a scheme is not detected earlier and shut down earlier before more damage is done.

I am hard pressed to think of another of these schemes being shut down BEFORE the company have already packed up and gone and damage done. Enlighten me if I am wrong.

Agents for these schemes only sing the company's tune as long as they get their comissions and fees and whatnot...
End of the day... it's the greed...

[dpkong]

End of the day... it's the greed...

Isn't that what attracted the "investors" and "sales consultants" in the first place? Nothing solid about the "investments" other than profit

If Malaysians weren't so greedy, cash-rich and gullible, why are the Nigerian scams so successful here?

[hanz079]

End of the day... it's the greed...

Isn't that what attracted the "investors" and "sales consultants" in the first place? Nothing solid about the "investments" other than profit

If Malaysians weren't so greedy, cash-rich and gullible, why are the Nigerian scams so successful here?

Not only Malaysians... Humans in nature are generally greedy... 

[tonykpk]

We shouldn't jump to conclusion since we don't know what is really happening. It will do more harm to the people who have invested if the co is legitimate .Remember this is boleh land..fr tony.

[dpkong]

We shouldn't jump to conclusion since we don't know what is really happening. It will do more harm to the people who have invested if the co is legitimate .Remember this is boleh land..fr tony.

Why did the Singapore office get raided on the same day by Singapore authorities?

There are no conclusions to jump to. No legitimate investment scheme can provide the kind of returns promised.

[Anfield]

Tony gave a very reasonable & unbiase piece of thought.

Why raid this particular co; there are in existing over 30 similar co!

Why Singapore did the raid simultaneously? ........... remember what had happened to the then MXX president in the '80, did he done anything wrong compare to other CEO listed co in the similar position? Why single him out? If he remained in power. I strongly believed the political landscape in bolehland will change, if he was to pass on the helm to lion Lxx, rather than to kowtow Lxxx!

I just smell a rat here with GE13 coming!

[terrenceterrence]

kill on to scare a hundred mar.

seriously, i do not know why ppl think that are so many fat pigeons jumping around the street. 20%> returns?! no one in this world would be poor. Might as well do some leverage and put all "sai lang" and go head in and no one in this world ever need to work again.

nothing in this world comes easy lar... if it's too easy then it's fishy lar...

[Anfield]

Chris, if they arent legitimate, agreed money laundering or pyramid scheme may sound reasonable.

I believed u r in the properties line, definately had came across a lot of d former gigs. Nearing to our front, isnt anyone wonder why those shops selling luxurious household items still operating in VXXX despite poor business. Obviously, those clothing taikors in Kxxxxxx are behind this to balance their books lah!

Terry, dun u think they wanted to kill the bird in opposite camp; conti to feed their own birds? This is bolehland lah

[terrenceterrence]

I guess it's just like imperial china days. Back the wrong prince as emperor and get your whole family including pet dog and koi fish beheaded. 

But seriously these schemes sounds too good to be true and legitimate.

[tonykpk]

Tan Koon Swan was arrested n charged n sentenced to jail in Singapore decades ago.  Maybe someone else is not doing too well  in the gold trading business  n their eyes are becoming red n sore.  please FIKIR FIKIR .  just n only my opinion tony

Tony gave a very reasonable & unbiase piece of thought.

Why raid this particular co; there are in existing over 30 similar co!

Why Singapore did the raid simultaneously? ........... remember what had happened to the then MXX president in the '80, did he done anything wrong compare to other CEO listed co in the similar position? Why single him out? If he remained in power. I strongly believed the political landscape in bolehland will change, if he was to pass on the helm to lion Lxx, rather than to kowtow Lxxx!

I just smell a rat here with GE13 coming!

We shouldn't jump to conclusion since we don't know what is really happening. It will do more harm to the people who have invested if the co is legitimate .Remember this is boleh land..fr tony.

Why did the Singapore office get raided on the same day by Singapore authorities?

There are no conclusions to jump to. No legitimate investment scheme can provide the kind of returns promised.

[tonykpk]

Sometimes banks in NZ pay out over 20% pa . in interest rate as well ..regards tony

kill on to scare a hundred mar.

seriously, i do not know why ppl think that are so many fat pigeons jumping around the street. 20%> returns?! no one in this world would be poor. Might as well do some leverage and put all "sai lang" and go head in and no one in this world ever need to work again.

nothing in this world comes easy lar... if it's too easy then it's fishy lar...

[hanz079]

kill on to scare a hundred mar.

seriously, i do not know why ppl think that are so many fat pigeons jumping around the street. 20%> returns?! no one in this world would be poor. Might as well do some leverage and put all "sai lang" and go head in and no one in this world ever need to work again.

nothing in this world comes easy lar... if it's too easy then it's fishy lar...

This is exactly what they're doing.
Genneva gold is not the ONLY gold trading company that are offering high returns... there are plenty.
Now that Genneva is raided... what do you think the investors for the other gold trading companies are gonna think?
"Phew, lucky it's not the company I invested in" or "Damn, things are going downhill... better cash out now"
So when majority of investors cash out, company close down... domino effect.
Exactly what terrence mentioned... kill one to scare a hundred.

And cmon... this is all common sense... if there's really such an investment at such good returns that is legitimate... ppl shold take loans from banks and dump it in this investment since it's a sure thing right?

Anyway, I still hope no one here gets burned.

[terrenceterrence]

They also charge you astronomical interest rate as well too

Sometimes banks in NZ pay out over 20% pa . in interest rate as well ..regards tony

kill on to scare a hundred mar.

seriously, i do not know why ppl think that are so many fat pigeons jumping around the street. 20%> returns?! no one in this world would be poor. Might as well do some leverage and put all "sai lang" and go head in and no one in this world ever need to work again.

nothing in this world comes easy lar... if it's too easy then it's fishy lar...

[terrenceterrence]

Yeah If all pulls out do you think these companies would have enough cash for payouts?

Are they regulated by any bodies that would guarantee their invested monies? Burn baby burn, disco inferno.

[Anfield]

Tony, If I remembered correctly, NZ Banks were offering double digits interest rate, but, not amounting to 20% few yrs ago. At that time some Aussie properties agent was trying to persuade me to invest in NZ, claiming that can have rental ROI of >10%. Terry has rightly pointed out that the mortgage rate then was horrendous too, that why I din jump into it.

[tonykpk]

Anfield I think its around 1989 that's when my sister was there doing her third yr in law.  correct me if i'm wrong..tony

Tony, If I remembered correctly, NZ Banks were offering double digits interest rate, but, not amounting to 20% few yrs ago. At that time some Aussie properties agent was trying to persuade me to invest in NZ, claiming that can have rental ROI of >10%. Terry has rightly pointed out that the mortgage rate then was horrendous too, that why I din jump into it.

[Anfield]

it's double digits interest, <15%, see link below:

http://www.nzs.com/new-zealand-finance/interest-rates/1989/

[tonykpk]

Those were the days. You just reminded me how time flies Tq..fr tony..

[terrenceterrence]

woooo....UMNO Youth to the rescue...what a timely act...

anyone remembers the Maika buyback a few years ago 

http://www.freemalaysiatoday.com/category/nation/2012/10/10/umno-to-the-rescue-of-genneva-gold-buyers/

[Anfield]

Nah ............... politic!

[hanz079]

woooo....UMNO Youth to the rescue...what a timely act...

anyone remembers the Maika buyback a few years ago 

http://www.freemalaysiatoday.com/category/nation/2012/10/10/umno-to-the-rescue-of-genneva-gold-buyers/

Yeah right... 

[danny]

Ponzi scheme.

Authorities gotta stop it before more people get hurt.
To see the consequences of inaction by the regulators, look no further than Madoff's case.

 

[chrisyen]

Ponzi scheme.

Authorities gotta stop it before more people get hurt.
To see the consequences of inaction by the regulators, look no further than Madoff's case.

 

Yeah.... This scheme not sustainable...
Gold never appreciate more than 24% a yr so they can nvr pay investor if they nvr use future money.... I think the invrstigator will get this fact from their account
I wonder who is their auditor