Problems with Genneva Payout

[sinvestg]

my friend's agent also gave a copy of letter from Genneva signed by the GM explanation their new operation procedures and their Gold Inspection / data dot process

 

[climber99]

Those are worst case scenarios, they already panic, no point scaring them more with the worst case right.

Can bring here to test. Singapore Assay Office

 

[SuperHunk3488]

we are all here to help

I don't see why we should help anymore less I would be called working for Geneva. Yes there are other options but shall no be bothered to say because this is your problem as some people are so unappreciative and called people names when I have all along been against Geneva. Go solve your own problem. My Last post in this thread.

Chill buddy... no hard feeling...
first of all not because my mum wanna take over some over pricing gold bar I will not bored to ask around and do research.

but the more you find out the more you are involved in this genneva scam..
so makav31... chill out lah... I buy you drink ok?

 

[transform]

Those are worst case scenarios, they already panic, no point scaring them more with the worst case right.

Can bring here to test. Singapore Assay Office

Now, for me the more interesting question is, how do you make a fake gold bar that at least passes the pick-it-up test? The problem is that there are very few metals that are as dense as gold, and with only two exceptions they all cost as much or more than gold.
The first exception is depleted uranium, which is cheap if you're a government, but hard for individuals to get. It's also radioactive, which could be a bit of an issue.
The second exception is a real winner: tungsten. Tungsten is vastly cheaper than gold. And remarkably, it has exactly the same density as gold, to three decimal places. The main differences are that it's the wrong color, and that it's much, much harder than gold.

 

[SuperHunk3488]

Another trap from Genneva!!!

genneva management decided to launch... (another scum plan)
Mooncake Promotion with 6% payout this round!! )
with effect from 1st-14th Sep 2012 (2 weeks to suck more money) Scary.....
for customer who planned to make a New Purchase only!!!

Who will still Purchase??? 阿呆！阿傻！阿笨！

WAKE UP PEOPLE!!!!!!!!!!! HELLOOOO?????????

if wanna buy? buy from me....
(*just a kidding example below)
I sell all brand of cigarettes at S$20/-
(you get to keep the whole box, yes physical...)
every week I will payout 3% yes every week but must show me the box!!!
until I can't payout or jam....
I will come out: Patterns! Postponed! Promotions! POOOOOOOO....不见了！

 

[transform]

genneva management decided to launch... (another scum plan)
Mooncake Promotion with 6% payout this round!! )
with effect from 1st-14th Sep 2012 (2 weeks to suck more money) Scary.....
for customer who planned to make a New Purchase only!!!

Who will still Purchase??? 阿呆！阿傻！阿笨！

WAKE UP PEOPLE!!!!!!!!!!! HELLOOOO?????????

if wanna buy? buy from me....
(*just a kidding example below)
I sell all brand of cigarettes at S$20/-
(you get to keep the whole box, yes physical...)
every week I will payout 3% yes every week but must show me the box!!!
until I can't payout or jam....
I will come out: Patterns! Postponed! Promotions! POOOOOOOO....不见了！

Recall back enough Gold to RECIRCULATE.
Can see how the story link.....
Before there is a delay. Than come out with a strategy (Renewal Contract)
New contract more % return = more new customer = more $$$$ coming in
Than the story goes until there is a hiccup. New Strategy .......................................................................................................................................................

WHAT WILL HAPPEN IF THE KIND HEARTED SOUL STOP SELLING AND JUST KEPT RENEWAL CONTRACTS. Everytime they just renew their exsiting customers contract would'nt affect their monthly commission right.( If Genneva honor their words.

 

[jackong78]

It is actually true. So far i got back pamp suisse, same as per what i have in the first place. Just that the serial number have changed. The strange thing is that only do the mirco dot on one piece and the other piece is not done.

sinvestg, sorry to ask you this when do you get this information from?
are you the one that bring back to genneva to do renewal and this is actually happened to your case?

if this is true fact... is very scary now... they might just sell any gold bar in hand as soon as they can during the 3 days while you return them the gold bar for renewal.... when come to the date of collection they just pass you any gold bar they still have in hand...

which mean those who pass their gold bar for renewal might be a total loss in this genneva scam!!! (provided your information is real situation now)

 

[climber99]

WHAT WILL HAPPEN IF THE KIND HEARTED SOUL STOP SELLING AND JUST KEPT RENEWAL CONTRACTS. Everytime they just renew their exsiting customers contract would'nt affect their monthly commission right.( If Genneva honor their words.

Think one part of how it works is gold price increase. It works if gold price keep increasing and have minimal new customers. But if gold price stagnate, like it has for past 8 mths, they need more new customers to keep it going.

I believe that is why they now got issue, accumulated from the long period of no price increase. Not sure how true but this is just my guess on how it works.

So perhaps they trying to use the promo to get in more customers to "tong" until the gold price start going up again.

 

[transform]

It is actually true. So far i got back pamp suisse, same as per what i have in the first place. Just that the serial number have changed. The strange thing is that only do the mirco dot on one piece and the other piece is not done.

Is the PAMP Gold in it original SEAL ?

 

[climber99]

genneva management decided to launch... (another scum plan)
Mooncake Promotion with 6% payout this round!! )
with effect from 1st-14th Sep 2012 (2 weeks to suck more money) Scary.....
for customer who planned to make a New Purchase only!!!

Wa so now is 6% a mth??? For how many mths contract this time?

 

[climber99]

Is the PAMP Gold in it original SEAL ?

Below 1 kg is those PAMP packaging with serial number. Are those opened to put the datadat?

Kilobars usually not wrapped. Only UOB sell one they wrap and chop sealed by UOB.

So what is the condition it was received back?

 

[jackong78]

Yes, it is in original seal. 100grams

 

[climber99]

Yes, it is in original seal. 100grams

That's good to hear. So we only need to hear from the guy with the kilobar to see if they remove the uob wrapping.

 

[SuperHunk3488]

mooncake promotion!!!

Wa so now is 6% a mth??? For how many mths contract this time?

6% upfront!!! (2% monthly) 3 months contract....

so is still 1 kg gold bar genneva sell at $96k
they buy at special price from UOB at $70k (UOB selling at $71k)
pay 6% upfront to DUMB customers at $5.760k
pay 1.5% upfront to SUCKER Agent at $1.440k
they left with $18,800 to TONG for 3 months...
and when 3 months later (if genneva still there)
DUMB carry 1kg gold bar to genneva and exchange for $96k...
哪里有这么大只的蛤蟆满街跳？？？？

 

[jackong78]

That's good to hear. So we only need to hear from the guy with the kilobar to see if they remove the uob wrapping.

Please keep us posted on the uob bar. So far, have anyone receive money from their selling of their bar or kilobar?

 

[Lucy1324]

Existing Gold Companies

I didn't heard of these two companies so far...
are you able to show some example of people around you involved with them? scary....

MAS listed them so far?

The Gold Guarantee works exactly like Genneva, giving out physical gold... If Genneva is falling now, judge for yourselves if The Gold Guarantee can be trusted...

Asia Pacific Bullion gives out paper gold. Worst than Genneva and The Gold Guarantee as customer risk is 100%... If Lehman had falled, judge for yourselves if Asia Pacific Bullion can be trusted...

Some new companies such as The Gold Guarantee, Asia Pacific Bullion, SG Gold etc will be listed in MAS Investor Alert List soon...

When? Just email Tharman SHANMUGARATNAM to ask...

 

[ruzmidah]

Just my 2 cents on authenticity of gold.

One of the main reasons why I never buy BARs is because its hard to authenticate. Especially Kilo bars. Smaller bars in certicard are ok if not tempered with but again, I will not hoard them (how to guarantee).

My personal preference when buying gold or silver is in coins....
A simple diameter, thickness and weight check and cross-referencing with the data from the mint websites (email them if need be) will suffice.

Again, my 2 cents.

Anyway, panic has set in Genneva. It will spread to others.

 

[Lucy1324]

Just my 2 cents on authenticity of gold.

One of the main reasons why I never buy BARs is because its hard to authenticate. Especially Kilo bars. Smaller bars in certicard are ok if not tempered with but again, I will not hoard them (how to guarantee).

My personal preference when buying gold or silver is in coins....
A simple diameter, thickness and weight check and cross-referencing with the data from the mint websites (email them if need be) will suffice.

Again, my 2 cents.

Anyway, panic has set in Genneva. It will spread to others.

I tends to agree with you.. That is the best optIon... Either invest in coins for long term or go for MAS regulated SPDR Gold Shares...

 

[Dividends Warrior]

I tends to agree with you.. That is the best optIon... Either invest in coins for long term or go for MAS regulated SPDR Gold Shares...

Yup. I prefer coins too.

I have 1 China Gold Panda, 1 Canadian Maple Leaf and 1 Australian Kangaroo.

 

[sinvestg]

my friend's agent also gave a copy of letter from Genneva signed by the GM explanation their new operation procedures and their Gold Inspection / data dot process

I do not have sufficient post count to post images/links, but can see the Genneva letter by adding a "h" in front of "ttp:" in the link below:

ttp://s1054.photobucket.com/albums/s483/sinvestg/