Monthly Archives: January 2013

Responding to Duck Tales

DuckTales-logoLike any mischievous creature, DONALD DUCK is no exception. Yesterday he made another appearance and we knew then that he was very selective to whom he speaks to. For some reason he chooses to be in the Chinese medium, so this time he preferred to bask in the comfort zone offered by the Oriental Daily News.

As in the previous occasion, the MCA owned news agency, The Star, had ignored in picking up his story. Strange though because The Star used to be very eager to report anything about Genneva Malaysia and the newspaper won’t miss any chance to run it to the ground.

Whether significant or not, let’s see what the duck had to say. For people who can’t read Chinese, this article breaks down his quotes which are then translated into English. Note that translation is not 100% but close enough to be understood.

1.   The Duck says:- “Gold is still one of the most reliable investment portfolios to have and for this he attributed to a host of reasons including the instability of major currencies including the US Dollar, the unresolved international debts, the Chinese RMB, etc. He quoted the world gold stocked up 170,000 tons worth about $500 billion with China and India being the major gold consumer. He said the Ministry of Finance had begun preparations last year for the establishment of a gold trading platform and for this a Mercantile Exchange shall be set up that is going to follow similar blueprint as the Hong Kong Gold Exchange. He says if all goes well, this plan is expected to be finalized by September 2013. The Mercantile Exchange will be place under the Malaysian Securities Commission who will then supervise the sale and purchase of gold. It will provide a secure investment platform for investors and he believes it can attract Southeast Asian investors”.

Comment: Duck’s message is plain and simple, gold is the way to go and his government is aware of this. By his very own words, the duck has spilled the beans. His government has big plans and ambition for the gold trading industry, enough so to set up a Mercantile Exchange. Only problem facing them is Genneva Malaysia Sdn Bhd (GMSB) because unlike any other seen before, GMSB has a solid footing in this industry with at least 5 to 6 years ahead in lead time. It is truly a market leader in this field and as such GMSB is standing in the way of the government’s ambition.

Once the Mercantile Exchange is formed, the government through the Malaysian Securities Commission is able to play the game in any which way they want and of course licenses would only go to crony controlled parties.

But it is not easy for any newcomer to penetrate such market if GMSB has already cornered a sizeable market share in virtually the whole of Malaysia including the eastern states of Sabah and Sarawak. So it is not stretching one’s imagination to say that the government requires (or perhaps even ordered) its watchdog, BNM, to clean up the industry as it is still unregulated up to the present day. As he said, the only way is to ban them literally. For achieving this they will not hesitate to use any tool available in any which way they can.

We all know of course that they are only good at sticking to the usual tried and tested way, i.e. to drum up some charges under the AMLATFA or BAFIA and see whether any sticks. It is the same way as how they wanted to stick sodomy charges up somebody’s ass one too many times. Sadly for them there is a saying that if you cried wolf too many times, your credibility goes rolling downhill, all the way.

Interestingly though the government has opened itself to conflict of interest. It has stripped its intention bare for all to see and if so any judge in a judicial review would have no trouble whatsoever spotting the naked allegations against GMSB a mile away. Of course to concerned Gennevarians that prospect is still a small cause to celebrate.

Donald LimOn the same note, there is wind circulating around that the duck has taken flight overseas to sniff out big gold players with the objective of laying the foundation for them to set up shop domestically. Click to view Photo 1 and Photo 2.

If that has any element of truth in it, then it is not wrong to say that such a policy is contradictory of PM Najib’s objective of nurturing home grown entrepreneurs to lead the way in contributing to the domestic GDP.  Remember PM Najib’s eight strategic reform initiatives that he said Malaysia would be focused on? In case the duck does not remember, they are:

  • Re-energising the private sector to lead growth;
  • Developing a quality workforce and reducing dependency on foreign labour;
  • Creating a competitive domestic economy;
  • Strengthening the public sector;
  • Putting in place transparent and market-friendly affirmative action;
  • Building knowledge based infrastructure;
  • Enhancing the sources of growth; and
  • Ensuring sustainability of growth.

To cut off domestic players such as Genneva Malaysia and to make way for foreign ones so that the government may glorify itself by claiming success in “attracting Southeast Asian investors” into the country under a Mercantile Exchange platform seems not only foolish but anti-patriotic too as it undermines home grown entrepreneurship at the expense of political expediency.

2.   The Duck says: BNM has appointed two audit companies, KPMG (KPMG) and Pricewaterhouse Coopers (PwCooper) to assess and audit GMSB’s assets and liabilities.

Comment: A lot of people would agree that this story is stretching one’s imagination too far. Logic begs the question as to the need to appoint the world’s two major audit houses to do the same job. If what he says has any truth in it, is this going to be a case where too many cooks spoil the broth?

Or is BNM not going to be bothered whether the end result is broth or soup because either way, they have orders to wipe out GMSB as per reason given in (1) above?

3.   The Duck says: According to the preliminary report from BNM, GMSB loss RM757 million in 2011, and that loss further increased to RM1.6 billion in September 2012. At the same time, GMSB has liabilities of RM14billion, but only has RM111.3 million assets.  He says the report also points out that relative to GMSB’s cash and gold reserves, the possibility is very low that GMSB can meet its obligation to pay back its customers’ cash and gold.

Comment: The duck is still continuing to spin the same old story, with the exception that he spiced up the liability from RM10 billion to now RM14 billion. A little bird told me that in 2011 GMSB not only didn’t make any losses but paid quite some hefty income tax to Inland Revenue. With Judicial Review in place, we will be able to find out just how much tax GMSB paid in 2011, won’t we? I believe once we exposed a single lie, all other lies will naturally be purged too.

4.   The Duck says: If BNM had not immediately interfered, GMSB gold investment plan in 2012 may lead to more victims where it is estimated that the number involved may reach 14 million people; and the amount of investment with the trend as calculated has a total investment of more than 30 billion ringgit.

Comment: What duck says is purely conjecture and hypothesis. In fact his statement is rather contradictory and flimsy. Let’s examine what he said. On the one hand, he said in paragraph (3) above that GMSB made severe losses in 2011 (RM757 million) and even greater losses in 2012 (RM1.6 billion). But on the other hand, he said had BNM not stopped GMSB on 1st October 2012, the company would have got 14 million more victims who would have poured in a total investment of more than RM30 billion.

These allegations simply do not add up and anyone could see through that. If it is true the company had already gone broke in 2011, how did it manage to grow exponentially in 2012 to reach a total customer base of about 60,000 people? Wouldn’t it be the reverse case if I say that the company being bogged down by a hefty loss of RM757 million in 2011 could not have possibly survived year 2012 let alone being able to scam another 14 million victims if not for BNM’s intervention? Is his story convincing to you? If not then I’d say let the court be the judge of that.

5.   The Duck says: The report also found that some people involved in money laundering activities through such investments.

Comment: There is nothing very much GMSB can do about it because every purchaser who comes along literally pays cash to buy the gold from the company. Is it practical for BNM to place the onus on GMSB to verify the source of money pertaining to each of its customers?

Bringing comparison of this issue with the instance where some people buying stocks or shares from KLSE (or Bursa Saham), is it fair to impose the burden on Bursa Saham to check and verify that each client who buys equity from the market is not involved in money laundering activities and does not bring in dirty money into the system?

Is there any system that can be put in place with such efficiency in the first place? Is BNM prepared to raid Bursa Saham, cease its operations for months and find out through a lengthy audit how many people are involved in money laundering activities? Would you not expect Bursa Saham to be pleading the same mercy as what GMSB is doing now?

So why do we see BNM practicing double standards then?

By Dee Casey, Genneva Malaysia Supporters

Follow Comments at GMS FB

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Foul Play by BNM – We Can Prove It!

InjusticeReading the news onAllegations not criminal, police report an intimidation tactic, says Bank Islam economist, it rang a bell as I continued reading the first paragraph that reported the besieged Economist, Azrul Azwar Ahmad Tajuddin has defended himself against his employer Bank Islam Malaysia, saying today the bank’s police report against him is an intimidation tactic and their allegations are a civil matter and not criminal in nature.

Do not be intimidated.Now that sounds familiar right? Only exception is that we are using the same old tactic as they are but the difference is if there is foul play by BNM and we can prove it, then the matter is no longer civil but criminal in nature.

Coupled with the spontaneous action of bringing such evidence to the attention of the judge in the High Court for Judicial Review of such abuse of authority, we should be on track to push our way through and get back what is rightfully ours.

The only concern I have at the moment is that my fellow Malaysians have been intimidated by the government and its so called authorities for far too long and so much so that I dread to think quite a few Gennevarians simply don’t have what it takes to intimidate back.

This is food for thought but darn we don’t have the luxury of time. Like it or not, don’t ask others what to do, simply use your own instinct, common sense and intelligence.

Make Your Police Report NOW!For you have only yourself to fight for your rights and not depend on others to do it for you.

If you don’t do it, nobody is going to do it for you. So go and get out there and JUST DO IT.

Please download a police report template that is applicable to you:

  1. Police Report for Return of Gold – New Purchase
  2. Police Report for Return of Gold – Second Case
  3. Police Report for Return of Money
  4. Police Report for Return of Gold and Docs Withheld by Consultant (New)
  5. Laporan Polis untuk Kembalian Emas – Pelanggan Baru
  6. Laporan Polis untuk Kembalian Emas – Second Case
  7. Laporan Polis untuk Kembalian Wang
  8. Polis Repot untuk Kembalian Emas dan Dukumen Ditahan oleh Konsultan (Baru)

PLEASE NOTE:

  1. Complete the relevant doc with the required details and save to a pen drive. You can then conveniently insert into the actual police report at any police station nearest to you.
  2. After you have made the police report, please scan and email to:
    gennevafamily@gmail.com
  3. All police reports will be treated with strictest confidence so please do not black out details.
  4. Deadline for submission: 31 January 2013.

By Dee Casey, Genneva Malaysia Supporters

Follow Comments at GMS FB

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What TGG “Rescue Plan”?

First, a walk down Memory Lane…

4 October 2012:

Genneva-articles-1

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7 October 2012:

Genneva-articles-2

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29 November 2012:
TGG listed on BNM Consumer Alert List

Fullscreen capture 1252013 23624 AM-001

Click image to view

23 January 2013:

TGG founder disappears

Click image to view larger text

The BIG DIFFERENCE between GENNEVA and The Gold Guarantee:

  1. GENNEVA is the founder of the innovative gold trading platform; TGG and the rest are copycats.
  2. GENNEVA directors are still around and offices still open; TGG directors ran away and offices closed.
  3. GENNEVA website is still up at http://www.gennevaworld.com.my ; TGG’s down at http://www.tggmalaysia.com/
  4. GENNEVA’s Facebook is still active at http://www.fb.com.GennevaWorld ; TGG’s been deleted at http://www.fb.com/thegoldguarantee

Questions:

  1. Why BNM did not raid TGG Malaysia and its business allowed to continue?
  2. Did BNM pass on GENNEVA’s customers database to TGG as many consultants and customers received SMS and cold calls to cross over?

Possible Answers:

  1. BNM closed both eyes and allowed TGG to offer the so called “Rescue Plan”?
  2. BNM SIU Mazlan Ahmad in collaboration with TGG to shut down Genneva?

Related Stories:

  1. The Gold Guarantee’s Lee Song Teck Uncontactable – Channel 8 News
  2. BNM’s credibility questionable
  3. A Conspiracy? Whodunnit?

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The Rahman Prophecy

It was just yesterday that Economist Azrul Azwar Ahmad Tajudin threatened to sue anyone be it bloggers or politicians who tarnished his professional reputation. So you may ask: just who is this guy Azrul Azwar Ahmad Tajudin? He was the Chief Economist of Bank Islam who just lost his job and was sent packing off from the cozy office that he had previously occupied in the Bank.

And you may further ask: what’s his crime for deserving this kind of harsh punishment that was meted out almost instantaneously and without any right of appeal given? Answer: the only wrong he did was to give his honest and candid opinion during his presentation at the Singapore Regional Outlook Forum.

His only wrong was for saying in his analysis that according to his calculation, all the workings ostensibly predicted that the Federal Opposition i.e. the Pakatan Rakyat (PR) can win the General Election 2013 (GE13).

From the swift “sentencing” that had befallen upon poor Azrul Azwar Ahmad Tajudin, it was obvious that his prediction had irked the powers that be. For they very well know that what the prediction meant was only a step closer to affirmation of the RAHMAN Prophecy.

So just what is the RAHMAN Prophecy? I mentioned it in one of my comments recently and someone asked – what was that? Just in case more are asking the same question and for the benefit of their inquisitive minds, let’s take a look at it.

Long long ago, when UMNO set out its path to join forces with its coalition partners (including major ones like the MCA and the MIC) to form the Alliance Party, it’s leaders at that time agreed unanimously that our Bapa Malaysia, namely Tunku Abdul Rahman be elected as the first prime minister of Malaysia. As we all know it, the Alliance Party slowly evolved to become the Barisan Nasional that we recognize today.

Over the years, the political party that we and our forefathers had so revered began its transformation too. Unfortunately, the transformation was not for the better but rather on the degenerative path. It was dogged by self egoism and massive self-induced arrogance.

It culminated in inflicting extensive breeding and spreading of corruption within their own kind and this problem as similar to a sweeping devastation of a deadly disease, saw a quick rise of another epidemic, namely the rise of the dark little napoleons.

From Malayans to Malaysians of modern day, the people continued to suffer under their authoritarian rule. What they say is the law and the law is determined as what they said, on impromptu day to day basis. What that effectively meant was that the law today may say you are innocent of doing something but tomorrow you may be guilty if you carry on doing the same thing.

Unless of course if you have the Badge of Impunity. This Badge is overwhelmingly powerful and it only carries two bold capital letters, one with a B and another with a N. This badge gives you safe passage to literally anything and everything, from getting unimaginable contracts to getting away with murder, so to speak.

Back to the story, under this evil rule all those little unconnected nobodies in the street with no badges to flash were put under the daily grind for decades and they were no better than slaves for large financial institutions under close supervision of the one and only slave driver, BNM.

Incidentally (or rather coincidentally) the BN badge was recently rebadged and it now sports five bold capital letters. It is now known as the “DEVIL” and this name was aptly given to it by none other than a former top leader himself. Needless to say, where there is evil rule, there is bound to be innocent casualties and sad sob stories. Curses from these innocent and restless souls are bound to have a nett cumulative effect over decades of misrule and evil misdeeds by a self-serving authoritarian regime and naturally so, the RAHMAN prophecy began to swirl around as a timeless legacy, eagerly waiting only to strike.

According to that legacy, it was prophesized that the Barisan Nasional or aka the UMNO government will only survive up to its sixth prime minister. Each letter in RAHMAN signified the initial of each succeeding Prime Minister chosen from UMNO. Obviously the sixth prime minister who takes the last alphabet “N” bears his name with the initial N and we know who he is, don’t we? Upon completion of the sequence, it was said that the government will fall and meet its natural death.

Has the government of the day finally met its nemesis and that black star is known as BNM? Is it only a mere coincidence that the acronym of BNM could also be read as Barisan Nak Mampus or alternatively also as Barisan Nasional Mampus whichever way you look at it? And is it also just by coincidence that with the rise of Barisan Nasional, a child by the name of Mazlan was born to ensure that he is there within BNM to complete such legacy? Seems like everything has been written on the wall, doesn’t it?

The question that BN should seriously be asking itself is whether it could well afford to stir the hornet’s nest by maintaining and continuing with this ridiculous action against Genneva Malaysia Sdn Bhd. That’s because I see BN can ill afford to lose at least 1 million voters just like that.

If the number of “likes” in this FB page is of any indication, it is already reaching almost half of GMSB’s total customers comprising 60,000 people. If each one of this 60,000 people has 5 family members who are voters, a simple multiplication shows a figure of 300,000 angry voters. Of these 300,000 angry voters, if each can influence 5 friends or other relatives to vote the other side, that figure swells to 1.5 million voters.

Working out the math fully, other areas where the BN government could easily have pushed away another couple of million voters may come from BERSIH, a million more due to the Sabah issue, half a million due to the Felda issue and another million or two due to various corruption issues, etc, etc. Collectively, that seems an awful lot of voters to lose and an awful lot of voters for the other side to gain!

Probably PM Najib has already taken cognizance of the fact that the RAHMAN Prophecy is looming ahead, thus his reluctance to step forward and announce the date of the GE13. That certainly makes Mr. No Worries to be a very worried man indeed.

By the way in case you have missed it, Mr. No Worries also starts with the alphabet “N”. Seems there is no running away from what’s written on the wall.

By Dee Casey, Genneva Malaysia Supporters

Follow Comments at GMS FB

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Genneva Consultant Needs Help

DAVID GAN, 49, with stage 5 renal failure was recently discharged from hospital in Melaka after spending 17 days there. He will have to continue with clinic dialysis stuck to a machine for five hours, three times a week.

David is a Genneva customer and subsequently joined as a consultant at Genneva Malaysia Sdn Bhd for the past three years.

Since GMSB was unjustly raided by Bank Negara Malaysia on 1 October 2012, he has had no income for five months. His gold is also stuck with Bank Negara.

Being the sole bread winner of his family with wife and three children ages 8, 13 and 17; David has ran out of savings to support his family with no source of income and accumulating bills and loans to pay.

Financially drained and coupled with the compulsory dialysis three times a week amounting to RM800 a week (RM3,200 a month) the entire family is in dire straits.

Gennevarians or anyone who can lend a hand to save David’s life and help his family make ends meet till David can get back on his feet, please make your contribution directly into David’s joint account with his wife:

Anne Loke/Gan Hin Soon (David)
Maybank A/C: 504115050804

If you require more details, call or text Anne Loke at (014) 232 2255.

Thanking you in advance,
Admin, GMS FB

Related News:

Genneva Customer committed suicide

RIP: It is with great sadness to announce the suicide of a customer yesterday. He had put his entire savings to buy Genneva Gold but unfortunately Bank Negara Malaysia raided GMSB on 1 Oct 2012 before he could collect his gold. Our deepest condolence to the family of the deceased. They do not wish to reveal more details.

FYI, this is the 4th case (death of either consultants or customers) we are made aware of todate. Source: GMS FB and read comments here.

Related News:

Time to bury the Common Enemy together

Dear Gennevarians, today marks another sad chapter for all of us. I am greatly sadden and angered by the fact that we have lost another life needlessly. I extend my deepest condolence to the affected family for the lost of their loved one. We all not only feel but mourn the sadness that you are going through at this moment of grief and no amount of words will do to soothe away or remedy that.

Today I shall not bog everybody down with a long article. Save to say that I am only going to touch on a few important points and they are as follows:-

1.   Suffice for me to say that it is time to move on and put the chapter of adversity with the Steering/Pro Tem Committee behind us. They have come out to explain themselves and I welcome their graciousness in doing that.

As such I would like to say a big thank you to dear Shanti. With that I turn to say to all Gennevians – let’s move on because we have bigger things to tackle. It is also on this topic that I would like to inform Gennevarians that we have kicked off the implementation of “STAGE II”.

Yesterday we have got a prominent legal firm to coordinate our attack against BNM along the lines of JR. From the discussion we had with the lead counsel, the indications are that we had all along been moving in the right direction.

The police reports made will have a big impact (even if no action is taken by the police) on the flow of a series of chain events that has the potential of affecting the outcome when the case is heard by the judge. The reports would most certainly make a clear mark, the mark of resentment and objection by Gennevarians and these collectively sends a huge message to the Judiciary as well as the BN government that the public does not condone and tolerate high handedness by shameless little napoleons to rip them off from their hard earned money.

Make no mistake this message will go down in history as a reminder to any government of the day lording over us to think twice and thrice not to “play-play” with our lives.

In relation to this, I wish to highlight an excerpt from a statement made by Shanthi Masilamoney today when she said:

“from the many meeting that we had with BNM we understand that they look thru our FB diligently. Well done FB friends you guys are doing a great job we understand that BNM fear the FB comments. call a spade a spade”.

What Shanti said today in fact re-affirms and corroborates what information I got from other reliable sources; that it is dead right to say BNM harbors a deep fear of our FB page. That fear stems from the fact that we have been and are still doing a bloody good job in countering the web of deceit spun by the little napoleons of BNM through this great FB page. Indeed we have not budged one inch from our original stance; that the truth is on our side and we are prepared to call a spade a spade.

In truth, it is not BNM who fears us. In reality, our FB page scares the shit out of the current Barisan Nasional government, specifically UMNO for they know that governments of this modern time and age ought not to mess with the FB people. Those who did paid for it dearly and we have seen people like Gaddafi, Saddam and the likes paying with dear life too.

I wish then to remind one and all Gennevians; have you made your police report yet? For Gennevarians who have yet to do it, go JUST DO IT! View http://bit.ly/Zc50y9 and email your reports to: gennevafamily@gmail.com so that the exact numbers can be compiled. People who intend not to do anything should take note; we will abandon you just like how you abandoned us. I am sorry but I have to make it quite clear to you naysayers, you will not get any assistance nor reply from us in future if you choose to procrastinate further. If Admin supports you, I will support you too. Remember our cause is also your cause too.

2.   People have come to realize that Facebook is a double edged sword. It can help tremendously if used properly but it can take life if abused. Borrowing a comment from Yeap Kim Lai, this is what he has to say:

“Words are sharper then a sword for it can kill a person so fast until it s too late when that person realize it and it can spread fast like fire especially in the present advance technology”.

I reiterate the need to weed out people who has no business to be in this FB page and suggest Admin to be more stringent in removing cruel and unwarranted comments that may affect the mental well being of some Gennevians who may not be strong enough to take it or to distinguish the truth from the lies. This is no longer the mere issue of freedom of speech but one that is out of necessity. We do not want further lost of lives due to irresponsible trolls, trojan horses, double agents or simply people who think they are being funny here.

3.   TAKE NOTICE THAT we will proceed on with STAGE III once we have STAGE II in full swing. By then BNM and the little napoleons within UMNO will find that this is no laughing matter and an avalanche is coming their way.

Be warned for it is already clearly written on the wall – http://bit.ly/11yD1yk – Whether or not to turn the RAHMAN prophecy into a reality is a matter of their choice!

By Dee Casey, Genneva Malaysia Supporters

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