On the 1st of October 2012, Genneva Gold raided by both the authorities in Malaysia and Singapore for suspected offences including illegal deposit taking, money laundering, tax evasion and avoidance, false description (misrepresentations), appointment of agents without licence, and failing to lodge statutory documents.
Soon after, there are a lot of comments and denial by Genneva Gold customers & consultants (agents), and they start to blame the authorities. They are even set up Genneva Support Group on Facebook. In the group, there was a comment made by Richard Chew who clearly explained the scam and the flaw on Genneva business. Unfortunately, the comment was deleted within a few minutes.
I like to share his comment so that everyone understands the reason why Genneve Gold is indeed a scam. Read on his comments below,
Central banks in countries namely United States (US), Germany, France and Italy hold 70% of their reserve in gold. What spurs them to use gold as reserve is their loss of confidence towards the two world leading currencies, the US dollar and Euro. Gold is viewed as a federal reserve and is a counter against the swing of the US dollar.
United States, who is the leader in the world of economy, has been facing one of the roughest times with its shrinking economy and increasing unemployment rate. Since the concluded of the Great Recession 3 years ago, the country’s employment rate has topped 8% for each month with job growth slowed drastically in August. Employers only added 96,000 jobs which indicate a fall from 141,000 in July, far below the 12 million over citizens who are still unemployed.
Recently, one of my friend wrote an eBook about Silver Investing in Malaysia. The eBook “Practical Guide For Investing Silver In Malaysia” explained that silver has a huge potential of going uptrend in 2013 – 2014.
The eBook “Practical Guide for Investing Silver in Malaysia” is the best investment guide when comes to silver investment. The eBook explains the fundamental reasons on why silver investment is such a great opportunity in this decade when all the financial crisis happens globally. The author explained it in clear and simple English from a Malaysian’s context.
As the author himself is actively involve in silver investment, the author shared the many tips and tricks in silver investment. In this eBook, you will learn many different methods to invest in silver. As the title suggests, the eBook is a practical guide. It would guide the reader step by step on how to invest silver in Malaysia. From buying the 1oz of silver until buying more than 1000oz of silver, the eBook would recommended different approach for investing. One of the most interesting chapters is eBook would even teach the reader how to buy silver below market price!
If you are new to silver investment and have not read the eBook “Practical Guide for Investing Silver in Malaysia”, you have no idea what you are missing out!
Find out more information about “Practical Guide for Investing Silver in Malaysia” eBook
The US economy is currently tussling with financial crisis after the Great Depression. Similarly to the previous 1929 worldwide economic downturn, marked with immense bank failures and stock market collapse, the country is once again encircles with unforeseen bankruptcy of huge trusted banks and extreme market volatility.
There are many prime causes that lead to the current US financial crisis and gradually affecting the global economy. During a recent media round table discussion at Public Gold, Mr Pang Bo Fu, the President of International Consumer Federation for Businessmen in China, who foresees US to encounter a drastic economy downturn very soon.
Recently, Maybank launched “Maybank Investment Silver Acccount (MSIA)” which provide an opportunity to investors to invest in precious materials without the hassle of keeping it. Maybank is the first bank in the country to offer a silver investment passbook account, allowing deposits and withdrawals in silver at a daily price in ringgit at any of its branches nationwide.
When investing is precious metals, some people believe that silver investment is better than gold investment due to the fact that silver is more widely used for an industrial purpose than gold and currently the silver production unable to cope with the demand. MSIA will give an opportunity for the investor to take advantage of the situation. Also, when compared to gold investment, silver is more affordable as the price per gram is much lower.
The features of Maybank Silver Investment Account are,