Thursday, July 30, 2009

Buy Gold on Dip today

After waiting for the Gold Price to drop, i decided to open a Gold saving acct this morning at UOB .
Price has dropped from $44.60 to $43.43 today. After waiting for about 30 min at the counter account opening since there is only 1 desk counter available. When it is my turn , the lady Miss Wong is very friendly and knowledgeable to my question.
Unlike... you know, some CSOs are not experience and every question you ask, they will say pls hold on, i check with ......
Glad to have increased my Gold investment. Will plan to go for some physical Gold again if price dip further a bit.
At this point of time writing, Gold price has increased from USD927.00 this morning to USD936.30 night time 22:50 Singapore Time.
How about you ?

Citigroup Stock Continues Its Advance

Citigroup shares continued their march higher Wednesday, closing above the $3 mark in heavy trading.

Three trading days after the completion of an exchange offer in which the company swapped new common stock for preferred securities, Citi announced in a release that Wednesday would be the settlement date for the public exchange offers.

It is also the recording date for determining holders of common stock that are entitled to vote on the company's common proxy statement, which includes a proposal to issue as many as 60 billion shares, up from 15 billion. The increase to the standing authorization to issue shares is designed to give the company room to maneuver above its current number of shares outstanding. Citi's total shares outstanding were expected to jump to as much as 23 billion from the completion of the exchange vs. 5.5 billion at June 30.

Citi's stock closed up 8.4% to $3.22 with more than one billion shares changing hands in Wednesday's regular session. The stock's three-month average trading volume is 291.4 million.

The exchange offer, announced in February, swapped roughly $58 billion worth of preferred shares and trust preferred securities for common stock. The private and public offerings included a total of $25 billion preferred securities owned by the U.S. government. The exchange transaction has made the government Citi's largest stakeholder, holding roughly 34% of the company's shares.

Analysts and investors will now be focused on how long it will take before Citi can get out from under the government's grasp. Other big financial firms including Goldman Sachs, Morgan Stanley and JPMorgan Chase were able to repurchase their preferred stakes during the second quarter.

Unfortunately Citi's businesses are still struggling -- and more so than its large bank counterparts. The company's attempts to reshape itself during the worst financial crisis since the Great Depression through a deleveraging of risk, expense cuts, restructuring of core businesses and management changes, has taken a toll on its revenue. Citi has a large consumer loan book that remains troubled. It also keeps fidgeting with its executive management team and board of directors to add more commercial banking experience. Most recently the company added, including the former superintendent of the New York State Banking Department.

Shares of common stock to be issued in the public exchange offers will be delivered to the voting trust Wednesday and then delivered to the Depository Trust Company on Thursday to be issued to participants, the company also said. Additionally, shares of common stock that were issued in the public exchange offers will be "subject to an irrevocable proxy issued by the voting trustee in favor of all of the matters covered by the common proxy statement."

Wednesday, July 29, 2009

Gold Declines to One-Week Low as Stronger Dollar Reduces Allure

Gold fell in London and New York to more than a one-week low as a stronger dollar dimmed the metal’s appeal as an alternative investment.

The Dollar Index, a gauge of the currency’s value against six counterparts, climbed for a second day, paring this month’s loss to 1.1 percent. The currency’s advance contributed to declines in all precious metals, oil and copper.

“The key driver is very much now the currency movement,” Suki Cooper, an analyst at Barclays Capital, said today by phone from London. Gold may trade little changed through August as investors in Europe and North America take their summer vacations, she said.

Gold futures for August delivery fell $5.20, or 0.6 percent, to $933.90 an ounce as of 8:40 a.m. on the New York Mercantile Exchange’s Comex division. The contract earlier traded at $932.80, the lowest level since July 17. Bullion for immediate delivery in London dropped 0.4 percent to $934.05 an ounce.

Demand may pick up in September before the Indian wedding season begins in October, Cooper said. India is the world’s largest consumer of the precious metal.

The next support level for the metal, indicating clusters of buyers based on technical charts, is at $931.60 an ounce, Credit Suisse said in an e-mailed report today.

Gold holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, fell 3.36 metric tons to 1,083.25 tons as of July 28, according to the company’s Web site.

Spot silver lost 0.9 percent to $13.6150 an ounce. Platinum declined $24.30, or 2 percent, to $1,176.20 an ounce and palladium shed $4.65, or 1.8 percent, to $256.10.

Saturday, July 25, 2009

The Economy Has Hit Bottom

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How's the economy, you ask? I have the proverbial good news and bad news, but in this case, they're exactly the same: The U.S. economy appears to be hitting bottom.

First, the good news. Right now, it looks like second-quarter GDP growth will come in only slightly negative, and third-quarter growth will finally turn positive. Compared to the catastrophic decline we recently experienced -- with GDP dropping at roughly a 6% annual rate in the fourth quarter of last year and the first quarter of this year -- that would be a gigantic improvement.

Furthermore, there is a reasonable chance -- not a certainty, mind you, but a reasonable chance -- that the second half of 2009 will surprise us on the upside. (Can anyone remember what an upside surprise feels like?) Three-percent growth is eminently doable. Four percent is even possible. Surprised? How, with all our economic travails, could we possibly mount such a boom? The answer is that this seemingly high growth scenario isn't a boom at all. Rather, it follows directly from the arithmetic of hitting bottom.

Bear with me for two paragraphs while I do some numbers. In recent quarters, several critical components of GDP have declined at truly astounding annual rates -- like minus 30% and minus 40%. You know the culprits: housing, automobiles and business investment. (Also inventories, about which more later.) Eventually, those huge negative numbers must turn into (at least) zeroes. Notice that the move to zero doesn't constitute a boom, not even a dead cat bounce, but merely the cessation of catastrophic decline. In fact, hitting zero growth and staying there would be a disaster scenario. We'll almost certainly do better.

But watch what happens when -- and remember, it's when not if -- the arithmetic of bottoming out takes hold. Housing, which is down to 2.6% of GDP, will serve as an example. In the first quarter, spending on new homes declined at a stunning 39% annual rate. If that minus 39% number turned into a zero in a single quarter, that change alone would add a full percentage point to that quarter's GDP growth (because 2.6% of 39% is about 1%). If the move to zero were to happen over two quarters, it would add about a half point to each. Many people think housing may in fact bottom out in the third or fourth quarter. Autos may already have passed their low point. And business investment will follow suit.

Now back to inventories. Recent quarters have seen an almost unprecedented liquidation of inventory stocks, which means that American businesses were producing even less than the paltry amounts they were selling. That, too, must come to an end. As inventory change turns from a large negative number into just zero, GDP will get another a big boost.

Now the key point: None of these events are probabilities; they are all certainties. The only issue is timing, about which we can only guess. But if several of these GDP components happen to bottom out at roughly the same time, we could be in for a big quarter or two.

Feeling a little better? There's more.

Remember the fiscal stimulus that everyone seems to be complaining about? One of the critics' complaints is that little of the stimulus money has been spent to date. OK. But that means that most of the spending is in our future.

And remember all those interest-rate cuts the Federal Reserve engineered in 2008, in a futile effort to stem the slide? The Fed's efforts were futile largely because widening risk and liquidity spreads negated any impacts on the interest rates real people and real businesses pay to borrow. Now those spreads are narrowing, which allows the Fed's rate cuts to start showing through to consumer loan rates, business loan rates, corporate bond rates, and the like. In short, monetary stimulus is in the pipeline -- a pipeline that was formerly blocked.

So why, then, is everyone feeling so blue? That brings me to the bad news: The U.S. economy is hitting bottom.

If things feel terrible to you, you're not hallucinating. Economic conditions are dreadful at the bottom of a deep recession. Jobs are scarce. Layoffs abound. Businesses scramble for penurious customers. Companies go bankrupt. Banks suffer loan losses. Tax receipts plunge, ballooning government budget deficits. All this and more is happening right now, in what looks to be this country's worst recession since 1938. At such a deep bottom, few people have reason to smile. (Bankruptcy lawyers maybe?)

What's more, GDP is not terribly meaningful to most people. Jobs are -- but they will take longer, maybe much longer, to revive. The last two recessions, while shallow, illustrated painfully that job growth may not resume for months after GDP bottoms out. And the unemployment rate won't fall until job growth rises "above trend" (say, 130,000 net new jobs per month). That's a long way from where we are today. So, even though the economy may be making a GDP bottom about now, the unemployment rate will probably keep rising for months -- which is bad news for most Americans.

One last, obvious, but unhappy, point: The bottom of a deep recession leaves the nation in a deep hole. Our economy now has massive unemployment and vast swaths of unused industrial capacity. It will take years of strong growth to return to full employment.

After the last big recession bottomed out at the end of 1982, the U.S. economy rebounded sharply, with a remarkable six-quarter spurt in which annual GDP growth averaged 7.7%. That spurt induced President Ronald Reagan, running for reelection in 1984, to declare "It's morning again in America." Nobody thinks we can repeat that today, hampered as we are by a damaged financial system, decimated household wealth, rising foreclosures, and traumatized consumers who have suddenly learned the virtues of thrift.

So, yes, the good news is also the bad news. The economy is hitting bottom, but it's a long, uphill climb to get out.

Mr. Blinder, a professor of economics and public affairs at Princeton University and vice chairman of the Promontory Interfinancial Network, is a former vice chairman of the Federal Reserve Board.

5 Ways to Double Your Investment

There's something about the idea of doubling one's money on an investment that intrigues most investors. It's a badge of honor dragged out at cocktail parties, a promise made by over-zealous advisors, and a headline that frequents the cover of some of the most popular personal finance magazines. Where this fixation comes from is anyone's guess.

Perhaps it comes from deep in our investor psychology; that risk-taking part of us that loves the quick buck. Or maybe it's simply the aesthetic side of us that prefers round numbers - saying your "up 97%" doesn't quite roll off the tongue like "I doubled my money." Whatever the source though, it is both a realistic goal that investors should always be moving towards, as well as something that can lure many people into impulsive investing mistakes. Knowing some of the most trusted avenues to doubling your money is something that all investors should have in their toolboxes.


The Classic Way - Earn It Slowly
Investors who have been around for a while will remember the classic Smith Barney commercial from the 1980s, where British actor John Houseman informs viewers in his unmistakable accent that they "make money the old fashioned way – they earn it." When it comes to the most traditional way of doubling your money, that commercial's not too far from reality.


Perhaps the most tested way to double your money over a reasonable amount of time is too invest in a solid, speculative portfolio that's diversified between blue-chip stocks and investment grade bonds. While that portfolio won't double in a year, it almost surely will eventually, thanks to the old rule of 72.


The rule of 72 is a famous shortcut for calculating how long it will take for an investment to double, if its growth compounds on itself. According to the rule of 72, you divide your expected annual rate of return into 72, and that tells you how many years it takes you to double your money.



Considering that large blue-chip stocks have returned roughly 10% over the last 100 years, and investment grade bonds have returned roughly 6%, a portfolio that is divided evenly between the two should return about 8%. Dividing that expected return (8%) into 72, gives a portfolio that should double every nine years. That's not to shabby, when you consider that it will quadruple after eighteen years, and octuple (8 times) after 27.


The Contrarian Way – Blood in the Streets
Even straight-laced, even-keeled investors know that there comes a time where you've got to buy. Not because everyone is getting in on a good thing, but rather, because everyone is getting out. Just like great athletes go through slumps when many fans turn their backs, the stock prices of otherwise great companies occasionally go through slumps because fickle investors head for the hills.

As Baron Rothschild (and Sir John Templeton) once said, smart investors "buy when there is blood in the streets, even if the blood is their own." Of course, these famous financiers weren't arguing that you buy garbage, at any price. Rather, they were arguing that there would most surely be times where good investments become oversold, which presents a buying opportunity for brave investors who have done their homework.

Perhaps the most classic barometers used to gauge when a stock may be oversold, is the price-to-earnings ratio and the book value for a company. Both of these measures have fairly well established historical norms for both the broad markets and for specific industries. When companies slip well below these historical averages for superficial or systemic reasons, smart investors will smell an opportunity to double their money.


The Safe Way
Just like how the fast lane and the slow lane on the freeway eventually lead to the same place, there are both quick and slow ways to double one's money. So for those investors who are afraid of wrapping their portfolio around a telephone pole, bonds may provide a significantly less precarious journey to the same destination.

But investors taking less risk by using bonds don't have to give up their dreams of one day proudly bragging around the lunchroom about doubling their money. In fact, zero-coupon bonds (including classic U.S. Savings Bonds), can keep you in the "double your money" discussion.

For the uninitiated, zero-coupon bonds may sound intimidating. In reality, they're surprisingly simple to understand. Instead of purchasing a bond that rewards you with a regular interest payment, you buy a bond at a discount to its eventual maturity amount. For example, instead of paying $1,000 for a $1,000 bond that pays 5% per year, an investor might buy that same $1,000 for $500. As it moves closer and closer to maturity, its value slowly climbs until the bondholder is eventually repaid the face amount.

One hidden benefit that many zero-coupon bondholders love is the absence of reinvestment risk. With standard coupon bonds, there's the ongoing challenge of reinvesting the interest payments when they're received. With zero coupon bonds, which simply "accrete" or grow towards maturity, there's no hassle of trying to invest smaller interest rate payments or risk of falling interest rates.


The Speculative Way
While slow and steady might work for some investors, others may find themselves falling asleep at the wheel. They crave more excitement in their portfolio and are willing to take bigger risks to earn bigger payoffs. For these folks, the fastest ways to super-size the nest egg may be the use of options, margin or penny stocks.

Stock options, such as simple puts and calls, can be used to speculate on any company's stock going up or down. For many investors, especially those who have their finger on the pulse of a specific industry, options can turbo-charge their performance. Considering that each stock option potentially represents 100 shares of stock, a company's price might only need to increase a small percentage for an investor to hit one out of the park. Be careful and be sure to do your homework; options can take away wealth just as quickly as they create it.

For those who want don't want to learn the ins and outs of options, but do want to leverage their faith (or doubt) about a certain stock, there's the option of buying on margin or selling a stock short. Both of these methods allow investors to essentially borrow money from a brokerage house to buy or sell more shares than they actually have, which in turn, can raise their potential profits substantially. Again, this method is not for the faint-hearted, since margin calls can back your available cash into a corner, and short-selling can theoretically can generate infinite losses.

Lastly, extreme bargain hunting can quickly turn your pennies into dollars. Whether you decide to roll the dice on the numerous former blue-chip companies that are now selling for less than a dollar, or you sink a few thousand dollars into the next big thing, penny stocks can double your money in a single trading day. Just remember, whether a company is selling for a dollar or a few pennies, its price reflects the fact that other investors don't see any value in paying more than that price.


The Best Way to Double Your Money
While it's not nearly as fun as watching your favorite stock on the evening news, the undisputed heavyweight champ of doubling your money is that matching contribution you receive in your employer's retirement plan. It's not sexy and won't wow the neighbors at your next block party, but getting an automatic 50 cents to $1 for every dollar you deposit is tough to beat.

Making it even better is the fact that the money going into your 401(k) or other employer-sponsored retirement plan comes right off the top of what your employer reports to the IRS. For most Americans, that means that each dollar invested really only costs them 65-75 cents out of their pockets. In other words, for every 75 cents, most Americans are willing to forgo out of their paychecks, they'll have $1.50 or more added to their retirement nest egg – not too shabby!

Before you start complaining about how your employer doesn't have a 401(k) or how your company has cut their contribution because of the economy, don't forget that the government also "matches" some portion of the retirement contributions of taxpayers earning less than a certain amount. The Credit for Qualified Retirement Savings Contribution reduces your tax bill by 10-50% of what ever you contribute to a variety of retirement accounts (from 401(k)s to Roth IRAs).


If It's Too Good to Be True…
There's an old saying that if "something is too good to be true, then it probably is." That's sage advice when it comes to doubling your money, considering that there are probably far more investment scams out there than sure things. While there certainly are other ways to approach doubling your money than the ones mentioned so far, always be suspicious when you're promised results. Whether it's your broker, your brother-in-law or a late night infomercial, take the time to make sure that someone is not using you to double their money.

Thursday, July 23, 2009

IMPORTANT UPDATES : 21st July 2009

Message From GENNEVA Web Site


This serves to inform all our Valued Customers that Bank Negara Malaysia has commenced an investigation into GENNEVA Sdn Bhd on 21st July, 2009 under suspicion of conducting illegal deposit taking activities.

In view of the above investigation, our bank accounts have been frozen and our cash and Gold stocks have been sealed temporarily. Our director’s personal bank accounts have also been frozen.

GENNEVA is cooperating fully with Bank Negara Malaysia on the above investigations and we would like to assure all our Valued Customers on our commitment to protect their purchases with our company.

The Management would like to extend a big thank you to all Valued Customers for their kind understanding and we apologized for any inconveniences caused in relation to the above investigation.

We look forward to be of service to you again soon.

Meanwhile, please do not hesitate to contact us via email at genneva3@gmail.com should you need any clarifications on the above.

Please continue to visit our website www.genneva.com for news update.

Thank you
The Management

Bank Negara probes two firms after complaints

PETALING JAYA: Bank Negara Malaysia (BNM) is investigating Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd on suspicion of conducting illegal deposit-taking activities.

The central bank said in a statement posted on its website yesterday that it raided the premises of Genneva and Etika Emas in Klang Valley yesterday following public complaints.

Officials from the two companies say that they are giving full cooperation to the central bank investigators.

Etika Emas president Mohd Amin Supian said he was surprised when Bank Negara officers’ visited his company.

He said that he was told that the visit was a routine check on the business operation.

He added that Etika Emas was a legitimate business dealing in physical gold.

A Genneva official, who did not want to be named, declined to comment except that his company was cooperating with Bank Negara.

Last week, Genneva senior general manager Tony Yao in a response to a StarProbe article said that his company’s business model is not a Ponzi scheme.

He explained that the company sold gold coins and bars to the public at a 5% discount to the prices set by the Federation of Goldsmiths and Jewellers Asso­ciations of Malaysia.

The US government and Federal Reserve would like you to believe that the US dollar has inherent value. . . that it's stable. . . that it's a store of value. . . that it is, and will always be, the world's preferred currency.

But, as more and more people are learning everyday, that is all just a fairytale. . . a fantastic misrepresentation of reality. The truth is. . .

The Value of the US Dollar is Gone

A dollar, once redeemable for physical gold or silver, is only backed today “by the full faith and credit of the United States government.”

That means the US dollar is given credit and strengthened by the government's ability to levy taxes or borrow from a separate entity, like the Federal Reserve or a foreign government.

Think about that for a minute.

First of all, no entity, not even one as large as the United States government, has unlimited credit.

The American government, just like you or me, is limited by how much it can borrow. And with the national public debt already approaching $11.5 trillion — and growing by an astonishing $3.8 billion per day — the nation must be quickyl reaching its credit limit.

Perhaps more frightening is the government's guarantee to back the US dollar through its ability to tax the American people.

If you don't pay your taxes, you may be fined, your paychecks may be garnished, your property may be seized, and you may even be thrown in prison. . . federal prison!

In other words, the government's guarantee of the dollar ultimately rests on your fear of incarceration.

What once derived its value from gold now takes its strength from state-sponsored intimidation.

It's true, we've fallen quite a ways from the days when the greenback meant something. And what's really scary is that. . .

The US Dollar's Value Has Eroded in Just a Few Decades

At the close of WWII, with just around 5% of the world population living in the US, the nation nevertheless produced 75% of the manufactured goods consumed globally.

It was an astounding achievement that set the stage for what many historians dubbed “America’s Century.”

That century is now over, literally and figuratively.

Although our economy was once responsible for a constant flow of steel, cars, ships, high-tech equipment, and all varieties of household goods. . . although our nation once fought off the Nazis and supplied the Allies with the goods and capital required to defeat the forces of evil and build the modern world up from the ravages of global war. . . today, American's number one product is debt.

And the mountains of debt we accumulate on a daily basis will only keep growing because our industry and exports simply cannot keep up.

We've all felt it, from the common citizen to the biggest corporations.

Unfortunately, the Fed’s main tactic for combating this mounting crisis is adding to the money supply, which they’re doing at an unprecedented rate today.



Economist and executive editor of Shadow Government Statistics John Williams began tracking the total supply of money in circulation after the Federal Reserve refused to continue publishing the figures in 2006. Today, Williams estimates the total supply of US dollars — including large time deposits, institutional money-market funds, short-term repurchase agreements, and other larger liquid assets — is approximately $15 trillion.

This is a shocking 250% increase to the supply of US dollars in the past 15 years alone!

Of course, you know the result of this approach. . .

Every dollar the Federal Reserve prints, when not supported by an equivalent growth in productivity, just leads to a devaluation of every dollar in circulation. That includes all those dollars you’ve slaved to put away for your household improvements, your kids’ college fund, and your retirement.

Inevitably, as the Federal Reserve's hunger for capital increases, and the individual value of each dollar decreases, the taxpayer — the true backer of the US Dollar — will be coerced into paying ever-increasing chunks of precious income to keep the machine alive.

Eventually, something will have to give: either your ability to earn or Uncle Sam's ability to take it from you.

You make the call which will outlast which.

There is a way out, however. You can still salvage your savings and secure the value of your assets, as they're valued today, before it’s too late.

But for that, you’ll have to return to the antiquated practice our national economy dropped back in the early 1970s.

You can take your faith out of the future prospects of the US economy and put it back into something inherently valuable. . . something that maintains and even increases its worth just by existing.

The political machine that has ravaged our economy has had its chance, and has blown it every step of the way. Take your financial future into your hands today and learn why now is the best time in American history to invest in the metal that was once the backbone of an empire. . .

Gold!

They're Running out of Storage Space for Gold

Today we'll look at some of the myths and misconceptions these same institutions want you to believe, along with the down-to-earth realities that will put your mind to rest about the unique benefits of owning gold.

Gold #1: Stocks always outperform gold

Fact: This is a misrepresentation popularized by institutions whose job it is to sell you stocks for commission, regardless of whether you see gains. But the truth is gold has increased by as much as almost 3,000% since the US abandoned the gold standard and the metal was allowed to trade freely on the open market in 1971. Meanwhile, the Dow Jones Industrial Average has only increased by about 900% since that time. Even at the top of the market, when the Dow Jones was over 14,000, the index had only gained 1,500%.

Gold #2: Gold is a risky investment

Fact: Gold is the opposite of risky. In fact, it's one of the safest investments you can make. And that's simply because gold can never be considered as a liability. Companies can go fall to zero.

Of course, every investment carries some degree of risk. The price of gold is subject to supply/demand fundamentals, currency fluctuations, government and central bank actions, etc. But the value of physical gold can't disappear in the middle of the night with a crooked investment manager or in the wake of a collapsing government.

Gold #3: Gold is a poor hedge against inflation

Fact: Gold is actually one of the best hedges against inflation. Consider this. . . In 1971, the factory sticker price for a Mustang Boss 351, Ford's final muscle car masterpiece, was $5,198. If you decided to hold onto your cash and buy a car today, your $5,200 would only make for a good down payment. The lowest MSRP of any vehicle sold in the US today is about $11,000—and that's for a tiny plastic death trap. But say that you bought gold instead of holding cash. At the time, $5,200 would have also bought you about 150 ounces of gold. Those same 150 ounces of gold are now worth over $140,000 at today's gold prices. With that kind of money, you could buy a brand new, fully loaded BMW M6. . . plus have an extra $20,000 leftover to put towards gas.

Gold #4: Gold ETFs or gold mining stocks are a better investment than bullion

Fact: This is another myth touted by institutions interested only in commission. It's true that gold ETFs and gold mining stocks are a slightly more convenient way to invest in gold. But as I mentioned in Gold Myth #2, funds can become defunct and companies can go belly-up.

It's also important to note that while gold ETFs do represent shares of the physical commodity, they end up costing you more in the long run because of annual storage fees. Owning and holding physical gold in your house costs you nothing.

Gold #5: Physical gold is illiquid

Fact: It may not be accepted by most vendors in lieu of cash, but the liquidity of gold has increased significantly over the past few decades thanks to the large number of brokers streamlining the process of buying and selling. Today's brokers have made trading gold as easy and attractive as possible by offering nearly instant payments and guaranteed sales prices.

An easy way to significantly increase the liquidity of your physical gold investments is to buy small coins and bars that are minted by a government or well-known refiner. You can purchase gold coins as small as 1/10 of an ounce, and you can buy gold bars weighing as little as small as 1 gram. These small gold coins and bars offer higher marketability than their larger cousins simply because they are much easier for private individuals to afford.

Conclusion

With its reputation for value stability and long-term growth spanning most of recorded human history, gold remains a popular and viable method of preserving and growing wealth during economic downturns as well as periods of prosperity, even today.

Those that will have you believe otherwise argue against gold ownership out of a purely pecuniary interest. Take hold of your future today and make your decisions based on objective fact, not self-interested fiction.

Good Investing

Thousands of Hong Kong investors may get mini-bond refund

A group of Hong Kong banks said Wednesday they had agreed to refund partially thousands of investors who bought complex financial products at the centre of a mis-selling scandal.

The deal covers around 29,000 investors who were sold so-called mini-bonds backed by US investment bank Lehman Brothers, according to a joint statement issued by the Securities and Futures Commission (SFC), the Hong Kong Monetary Authority (HKMA) and the banks.

The deal was brokered by the two regulators and the banks. The refunds could cost the 16 institutions who agreed to the deal up to 6.3 billion Hong Kong dollars (S$1.17 billion).

Martin Wheatley, chairman of the SFC, said the settlement was "a watershed" in the regulation of financial services.

"The scale of the settlement is unprecedented in Hong Kong, if not in other jurisdictions," he told a news conference.

Under the deal, the banks will repurchase from each eligible customer aged below 65 all outstanding mini-bonds at 60 percent of their nominal value.

Those aged 65 or above will be able to recoup at least 70 percent of their investment in the products.

The ultimate payout to investors may be higher if the banks are able to sell the underlying collateral linked to the minibonds, the regulators said.

Wheatley said the total amount the investors could receive would be equal to or greater than what they could otherwise recover at today's current market value.

He said although the deal concluded the SFC's investigation into the mis-selling cases, investors still dissatisfied with the terms could seek redress through legal channels.

He nevertheless pledged to continue the SFC?s investigation in unresolved claims.

"In no way are we giving up our right or ability to investigate unresolved cases," he said.

In January, leading Hong Kong brokerage Sun Hung Kai Investments agreed to repay around 85 million dollars to 300 investors in a full refund after the SFC reprimanded its sale of the minibonds.

Asked why the banks could not follow the brokerage's example, Wheatley said Sun Hung Kai's case was different as it involved fewer investors and a smaller amount of money.

Some investors were nevertheless angry that they could not get a full refund and Wednesday protested in the lobby of the SFC office in Central district, where dozens of police officers and security guards tried to maintain order.

Peter Chan, chairman of the Alliance of Lehman Brothers Victims, told AFP: "Although some elderly investors will be able to recover most of their investment, I am very disappointed because the SFC has indicated it will not investigate these cases any more after the settlement."

The value of the products, which were sold as safe investments, collapsed when Lehman went failed last September.

The scandal has rocked Hong Kong's financial centre and led to a string of protests by disgruntled investors, many of whom were elderly and said they did not understand what they were being sold.

In May, the SFC won another victory when a Hong Kong court supported the regulator's request to block the privatisation of telecom giant PCCW amid allegations of vote-rigging.

Wednesday, July 22, 2009

What Is A high-yield investment program (HYIP)

A high-yield investment program (HYIP) is a type of Ponzi Scheme, which is an investment scam that promises an unsustainably high return on investment by paying previous investors with the money invested by newcomers.

HYIP operators generally set up a website offering an "investment program" with returns as high as 45% per month or 6% a day that discloses little or no detail about the underlying management, location, or other aspects of how money is to be invested because no money is invested. They often use vague explanations, asserting little more than that they do different types of trading on various stock markets or exchanges to generate the returns they purport. The SEC has said the following on the matter: "These fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' ('HYIP's) The fraud artists... seek to mislead investors by suggesting that well regarded and financially sound institutions participate in these bogus programs."

HYIPs collect large sums of money for the operators by using the classic Ponzi Scheme method of using second- and third-tier investments to pay principal and interest back to the first-tier investors. This is continued for the first several tiers, generating positive word-of-mouth advertising for the scheme using a variety of dedicated forums. HYIPs may also mirror Pyramid Schemes by offering current investors incentive commissions, for example 9% of current investment, to recruit new investors. Some HYIP promoters, aware of the negative connotations of the term, have begun to use other terms such as "HYIP game" or "HYROL" (High Yield Return On Loan) as well.

The introduction of e-currencies in the late 1990s made it easier for HYIPs to operate on the Internet and across international boundaries, and to accept large numbers of small payments. HYIPs usually accept payments only by digital currency.

Bernanke sees US upturn, seeks to keep easy credit


WASHINGTON: The Federal Reserve is likely to maintain its easy money policy for some time despite signs of improvement in the economy and financial markets, chairman Ben Bernanke said on Tuesday.

Bernanke, delivering his semi-annual economic report to Congress, cited "notable improvements" in financial markets and a somewhat brighter economic outlook but considerable risks led by high unemployment.

"In light of the substantial economic slack and limited inflation pressures, monetary policy remains focused on fostering economic recovery," Bernanke told the House of Representatives Financial Services Committee.

He added that "a highly accommodative stance of monetary policy will be appropriate for an extended period," suggesting that the Fed is in no hurry to end its near-zero interest rate policy or special programs to pump money into the financial system.

But Bernanke also maintained the Fed was working on a so-called exit strategy to unwind the trillion-dollar effort once a recovery takes root.

He said the the vast effort "can be withdrawn in a smooth and timely manner as needed, thereby avoiding the risk that policy stimulus could lead to a future rise in inflation."

The policymaking Federal Open Market Committee "has been devoting considerable attention to issues relating to its exit strategy, and we are confident that we have the necessary tools to implement that strategy when appropriate," he added.

He said some of these tools "will unwind automatically as the economy recovers and financial strains ease" because of the premium charged by the Fed for its programs.

In an effort to address concerns that the Fed could create a new financial bubble, Bernanke said the central bank was prepared to act.

"Should economic conditions warrant a tightening of monetary policy before this process of unwinding is complete, we have a number of tools that will enable us to raise market interest rates as needed," he said.

The Fed noted that the it is preparing for a recovery taking root: "When this process has advanced sufficiently, the stance of policy will need to be tightened to prevent inflation from rising above levels consistent with price stability and to keep economic activity near its maximum sustainable level."

Kathy Lien at Global Forex Trading said Bernanke's comments failed to ease financial market jitters, leading to a rise in the dollar.

"Although the Fed chairman talked about exit strategies, his emphasis was on economic risks and this cautiousness did not sit well with currency traders," she said.

Bernanke also delivered the Fed's latest economic projections, which were made public last week, which called for a resumption of growth in the second half of 2009 after a brutal recession.

He commented that financial markets, which had been severely strained at the the time of his last report in February "remain stressed," with credit sometimes difficult to obtain, but that "on net, the past few months have seen some notable improvements."

He added that better conditions in financial markets "have been accompanied by some improvement in economic prospects" including stabilisation of consumer spending and moderation in the housing slump.

But he argued that the Fed would remain focused on adding stimulus to avert a relapse.

"Despite these positive signs, the rate of job loss remains high and the unemployment rate has continued its steep rise," he said.

"Job insecurity, together with declines in home values and tight credit, is likely to limit gains in consumer spending. The possibility that the recent stabilisation in household spending will prove transient is an important downside risk to the outlook."

The Fed chief also repeated his concerns about a ballooning federal budget deficit that could threaten financial stability.

"Maintaining the confidence of the public and financial markets requires that policymakers begin planning now for the restoration of fiscal balance," he said.

"Agreeing on a sustainable long-run fiscal path now could yield considerable near-term economic benefits in the form of lower long-term interest rates and increased consumer and business confidence. Unless we demonstrate a strong commitment to fiscal sustainability, we risk having neither financial stability nor durable economic growth.

Apple profit up 15 pct, helped by iPhones, laptops


Apple Inc., the closest thing the tech industry has to a luxury brand, said Tuesday its profit jumped 15 percent in the most recent quarter despite the recession. IPhone revenue surged and reduced prices pushed laptop sales higher, even as the rest of the PC industry shrank.

The company, which recently welcomed CEO and co-founder Steve Jobs back from medical leave, said earnings in the quarter that ended June 27 rose to $1.23 billion, or $1.35 per share. Apple's profit was $1.07 billion, or $1.19 per share, in the same period last year.

Sales increased 12 percent to $8.34 billion from $7.46 billion in the year-ago quarter, which is the third in Apple's fiscal calendar.

Apple beat Wall Street's forecast on both counts, which helped send its stock higher in extended trading. Analysts were expecting Apple to earn $1.17 per share on $8.20 billion in revenue, according to a Thomson Reuters survey.

"In a better economy I think we would have sold even more," Apple Chief Financial Officer Peter Oppenheimer said in an interview.

Apple said it sold more than 5.2 million iPhones in the quarter, more than seven times what it sold in the 2008 quarter, thanks in part to a newly released version of the device.

Apple also sold 4 percent more Mac computers than a year ago, with a 13 percent rise in laptop unit sales more than making up for a 10 percent drop in desktops. Meanwhile, researchers recently reported a 3 percent to 5 percent decline for the overall worldwide PC market in the same period.

"Times are tough. Apple continues to post pretty strong numbers," said Shaw Wu, an analyst for Kaufman Bros. "It's pretty incredible. It truly is."

Apple's decision to cut laptop prices during the quarter helped it buck the industry trend, even though the move dragged laptop revenue down 2 percent. Tim Cook, Apple's chief operating officer, said Mac sales picked up after the company announced the cuts, its first major price reductions in the recession.

Cook said Mac revenue was also hurt as businesses that typically buy more expensive models continued to put off technology spending. Other computer makers, such as Dell Inc., have also said customers are holding on to their existing machines for longer than normal.

Wu noted that lowering prices didn't eat into Apple's gross margin, which improved from a year ago and beat his expectations. Apple said component costs weren't as high as anticipated, and Wu said he thinks the Mac remained one of Apple's most profitable businesses.

The main weak spot was Apple's iPod line. Even though iPod Touch unit sales more than doubled, total iPod unit sales fell 7 percent, hurt by declines in what Apple considers its traditional MP3 players -- iPod Classic, Nano and Shuffle. Oppenheimer told analysts on a conference call that such declines are to be expected as Apple "cannibalizes" iPod sales by offering similar features, plus access to thousands of third-party applications, on the $229-and-up iPod Touch and the iPhone -- the cheapest of which is now $99, plus a monthly service contract.

Apple's revenue increased in every region, including the U.S. and Europe. Average revenue in each of Apple's retail stores was $5.9 million, lower than the $6.8 million Apple reported at the same time last year.

Shares of Cupertino, Calif.-based Apple jumped $6.77, or 4.5 percent, to $158.28 in after-hours trading, after slipping $1.40 to close at $151.51.

For the current fourth quarter, Apple said it expects to earn $1.18 to $1.23 per share on $8.7 billion to $8.9 billion in sales. Analysts are looking for a stronger performance -- profit of $1.30 per share on revenue of $9.1 billion -- but Apple's guidance is typically conservative.

Tuesday, July 21, 2009

Bank Negara Malaysia Investigates Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd

Bank Negara Malaysia has commenced investigations into Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd under suspicion of conducting illegal deposit taking activities in breach of subsection 25(1) of the Banking and Financial Institutions Act 1989 (BAFIA).

The raids on Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd were conducted today at their premises in Klang Valley following information received from members of the public.

Members of the public are reminded to be cautious of deposit taking schemes and investment schemes offered through various channels such as the internet, phone calls, or seminars conducted by individuals or companies that are not licensed or approved by the relevant authorities.

Members of the public may refer to the list of licensed institutions authorized to accept deposits which is available on Bank Negara Malaysia's website ( www.bnm.gov.my).

For further enquiries, members of the public can contact Bank Negara Malaysia at the following contact points:

BNMTELELINK (Customer Service Call Centre)
Tel: 1-300-88-5465
Fax: 03-21741515
Email: bnmtelelink@bnm.gov.my

BNMLINK (Customer Service Walk-In-Centre)
Block D, Bank Negara Malaysia ,
Jalan Dato' Onn, 50480, Kuala Lumpur
(Business hours: Monday-Friday, 9.00 am - 5.00 pm)

Bank Negara Malaysia
21 July 2009

How to become a gold investor

GOLD investing is not simply a matter of buying a piece of the metal to lock in a safe place. There are many ways to own gold and, quite often, you do not see the actual thing at all. For instance, Singaporeans can buy gold by using their Central Provident Fund Ordinary Account savings to invest in gold savings accounts or gold certificates. Their value mirrors any rises or falls in gold prices.

Bars and coins

ONE way to get your hands on gold is to buy products such as gold bullion coins and gold bars in various sizes and weights. These investments - unlike a paper gold investment - are subject to goods and services tax (GST) in Singapore, which means an investor will lose 7 per cent of his investment upfront.

Coins are usually available in denominations of one ounce, 1/2 ounce, 1/4 ounce, 1/10 ounce and 1/20 ounce.

When investors sell gold to a bank, for instance, the institution will want to make a profit on the prevailing gold price. That differential starts from about S$120 per kg.

Banks that sell physical gold include United Overseas Bank (UOB) and the Canadian Bank of Nova Scotia.

Certificates

WHEN you buy a gold certificate, you do not incur GST, as you do when you buy physical gold. However, there is an annual administration fee of S$30 per kg of gold.

At UOB, a gold certificate is issued in 'kilobars', which are kilogram bars of gold. In a single certificate, you can buy kilobars of 999.9 fine gold in multiples of one up to a maximum of 30. Gold is rated according to its purity - and 999.9 means extremely pure.

At current gold prices, one kilobar costs about S$35,000.

For die-hard gold investor and retiree Christopher Na, it has been a painful wait to see his investment shine. His foray into gold began in 1993 when he pumped his life savings of about S$200,000 into 11kg of gold, which he bought at US$330 (S$483) per ounce.

He prefers to buy gold certificates as they do not incur GST. He also opted for certificates because he wanted to buy more gold by borrowing money using his certificates as collateral.

So far, he has piled up 29kg of gold in gold certificates from UOB and has taken out bank loans of about $500,000. Based on the current price of US$760 an ounce, his 29kg investment is worth about $1 million.

Mr Na does not mind paying the monthly loan interest of S$3,000. 'As long as the price of gold rises beyond what I pay for the interest, I will keep on buying gold.'

Savings accounts

AN INVESTOR looking for the excitement of frequent trading might want to consider a gold savings account.

You start with a minimum purchase of 5g of 999.9 fine gold. You can then buy or sell in 1g lots.

The customer records his purchases and sales in pocket-sized passbooks as deposits and withdrawals. UOB charges an administration fee that is subject to GST.

Margin trading

CUSTOMERS can also open a margin trading account to trade London gold or gold futures over the phone on a margin basis.

They can even sell short in gold with the account.

Unit trusts

ANOTHER option is to invest in unit trusts such as UOB United Gold and General, which invests in publicly listed companies that mine gold.

As with other unit trusts, an investor is subject to subscription and annual management fees, said IPP Financial Advisers investment director Albert Lam.

Exchange-traded fund (ETF)

FOR retail investors, an ETF offers a convenient way to buy gold with relatively modest sums, and without the custody, storage and insurance charges that typically accompany bullion investments.

An ETF is listed on a stock exchange, and is bought and sold just like shares.

In February, investor Dennis Ng pumped 5 per cent of his investment portfolio into StreetTRACKS Gold ETF. Since then, the value of his investment has risen nearly 20 per cent, to US$75 a share. His initial investment cost him US$63 a share.

Already listed in New York and Mexico, this gold ETF was listed on the Singapore Exchange last year.

ETFs are tracker funds that invest in the component stocks of an index. Investors need not pay a sales charge, unlike with a unit trust. They are, however, subject to a brokerage charge. Overhead costs are typically a fraction of those for unit trusts.

Unlike other ETFs that hold shares or bonds, StreetTRACKS holds gold bullion as its underlying asset. Its annual management fee is 0.4 per cent. A share in the ETF is based on roughly a tenth of an ounce of gold. Buy 10 shares and you own one ounce of gold.

Mining stocks

THIS means investing directly in the shares of mining firms. However, you could be exposed to more risks.

With most gold investments, you worry mainly about the price of gold. With these stocks, other factors, such as how well the firms are managed, come into play.

Gold Investment to rise 'on fears over inflation'


Citigroup analyst David Thurtell predicted yesterday (July 16th) interest in Buying Gold is likely to grow considerably in the coming months.

With central governments continuing to furiously print money in response to the global financial crisis, many market observers are forecasting an eventual spike in inflation.

The yellow metal has long been viewed as a valuable hedge against such a scenario and Mr. Thurtell explained in an interview with Reuters that investors may BuyGold in significant quantities.

He told the news provider: "Gold is basically dollar-driven, but there are expectations that all this monetary stimulus is going to spark inflation concerns and therefore interest in gold.

"There is a view that if world growth is in a gradual recovery trend, that will eventually help fabrication demand."

A similar view was expressed last week by Trevor Law, a director at Solihull-based independent financial advisory firm Montpelier Group.

According to the Birmingham Post, he noted that ongoing concerns over the future of the economy are emphasizing gold's appeal as a store of wealth in tough times.

"It seems that many investors are rushing to the perceived safe haven of gold during the current recession," he told the newspaper.

"Uncertainty over the state of the economy, plummeting share prices, pitiful interest rates and fears over the vulnerability of even the biggest banks have all led investors to return to the old ways of physically holding gold to protect themselves."

To Buy Gold today, avoiding wide spreads and storage costs – but still owning your physical Gold Bullion Investment outright with full legal title.

Forex Trading Course



I have friends that asked me whether it is possible to make money by trading forex, because i have been trading Forex for almost 2 years already.


Every day, you can see advertisements promoting forex trading (or other instruments) seminars with the promise of making a full-time income using the techniques they teach.


I have attended one of the seminars by FX1 Academy that guarantee at least 65% successful rate. ie. when you trade 10 orders , 6.5 orders is a winning trade. After attended the seminar, i signed up the training course, and schedule to attend the night class.


During the night class, we were taught the ABC Strategy that is so called proof strategy. After attended 2 lesson, FX1 instructed us to practice using the demo account for 6 months. However, during the first and second month, my results were already having only 30% success winning trade. But the fx1 told me this is "normal" and told me to continue practice.


After 3 month or so, i contacted FX1 again and complain about their strategy and got no reply and support from them . But they claimed to say they have trainer to have 1 to 1 coaching before i sign up the course. I was so frustrated about the FX1 academy and eventually after 6 month of demo practice, i demand to them for MBG (Money Back Guarantee ) .


However, they give a lot of Terms and conditions that made me even more frustrated. I told them that if they do not return me the MBG, i will raise the issue to CASE to investigate. In the end they offer me back my course fee.


I would suggest that if anyone wants to attend the seminars, pls be aware that most of the trainers are also previously student from some Forex school, and after with a few years of trading experience they come up to organise the trading class. Personally, I think this is all money making without any promise.


When you sign up the class, they are already making money from you. Imagine 1 student cost $4000, 50 student to sign up and attend the night class is $200,000 for 2 lesson or maybe 6 lesson. This is only 1 batch on student, if they were to conduct lesson for 2 batch per week , their income will be $400,000 per week. It is better than trading FOREX. Also, by attending a few class will not make anyone a consistently profitable trader. It takes much more than that.


I would advice anyone to reconsider if he or she wants to sign up for the course. there is no such training and programmes like Guarantee earning or profit from Forex. Furthermore, course fee normally ranges from $2500~$5000. My last attended course fee was $4000, after so called this and that discount like sofware developments, instant sign up offer, Strategy development etc.....


Do not get fool by all this gimmicks and tricks. Think before you sign up , and at this point of economics downturn, Keeping $5000 on hand is KING.


Did anyone of you got and similar experience like me ? care to share your experience ?


Hopefully, i hope MAS will one day start regulating such kinds of advertisements.

Genneva’s gold scheme draws brickbats & bouquets

In Malaysia a strange gold scheme is winning hearts of many customers and it is spreading rumours that the scheme is a fraudulent one because it is logically not sustainable.

However, the business is thriving for Genneva Sdn Bhd, a company that sells gold coins and bars to the public, and more and more people are attracted to the scheme now.

Even though there are allegations that the project is a ponzi scheme, the company denied it vehemently saying that their project is very much safe and it can sustain any market fluctuations.

The group’s arguments is that their scheme is uniquely profitable, viable and sustainable business because its product, which is gold, is a safe haven in any time of uncertainty and is not subject to wild fluctuations in price in the world markets.

Genneva’s business model enables customers to purchase physical gold at a discount compared to domestic market prices. The company also provided a conditional buy-back guarantee for the purchase at the same price that the customer had paid for the gold. Genneva sources its gold needs from the international market, where prices can be lower by as much as 17% compared to the recommended retail selling prices by the Federation of Goldsmiths and Jewellers Associations of Malaysia.

The firm then sells its own issued gold coins and bars to the public at a discount compared with prevailing market prices set by the federation. It still would make a profit on these sales.

The company provides a conditional buy-back guarantee for purchasers who may want to resell their gold after buying it. The company is still able to generate continuous income from its profits made from trading gold to enable it to repurchase gold from the customers if they wish to sell it back to the company.

Under the scheme, Genneva’s obligation is to buy back the gold at the same price without discount after a 90-day holding period. There is a week’s grace to sell the gold back to Genneva. Any sale back to Genneva before or after 97 days will be at lower prices to be negotiated.

Genneva gives a discount of around 5% on the domestic market price set by the federation. The discount is paid either at the time of purchase or up to three months after that in instalments.

Genneva guarantees the standard and purity of all gold coins issued by the company as 99.9%. This means customers can also sell their gold coins or bars purchased from Genneva at any goldsmiths that accept gold trade-ins.

Genneva said the company’s business of buying and selling physical gold does not require a licence to operate from Bank Negara.

On June 28, the group formed Samudra-GV Sdn Bhd with a vision to open up the gold market to Malaysians of every race and religion by making the product available to people from all walks of life.

Will Gold Go higher Again ?

Gold has a long-running history as a safety net during times of financial difficulty, a method of preserving and actually growing wealth as other sectors in the economy go into decline. It's a see-saw battle that's been going on since antiquity. Unfortunately, the two sides of the see-saw remain in perpetual conflict as investors have to make either one choice or another.

Right now, that see-saw is clearly swinging in the direction against business and industry. While certain biased sources will tell you otherwise, the choice really is pretty simple. You can either fight the see-saw and lose what you've earned, or use the mechanism to your advantage and gain while most everyone else watches their savings decline in value.

I am satisfied to wish everyone else the best of luck in seeking a better store of value in fiat currencies. I, however, will be owning gold.

Gold Prices Touch a Five-Week High to $955.40

Gold for August delivery hit a five-week high in overnight trading, as a weaker US dollar and higher crude oil prices boosted the metal's appeal as an alternative investment and hedge against inflation.

Bullion for immediate delivery gained as much as 2% to $955.40 an ounce, the highest since June 12.

Crude oil also found strength in the London market, gaining as much as $1.53, or 2.7%, to $65.90 per barrel. This is the highest level for oil since July 6.

Meanwhile, the US dollar fell sharply against most major currencies on speculation that this week's European and US economic reports will show the global recession is easing, sapping demand for the greenback as a refuge. The US Dollar Index, a measure of value of the dollar against a basket of six major world currencies, dropped to a near seven-week low, down 0.7% to 78.925.

In other precious metals, silver climbed as much as 2.6% to $13.75 an ounce, while platinum put on 1.1% to $1189.90 an ounce, and palladium gained 1.4% to 254.50 an ounce.

Sunday, July 19, 2009

Stoic Capital Scam

Below is a report extracted from internet, invest and got scammed . I was also recommended by friends to invest in this HYIP Program. I deposited $30 for 190 days. Immediately, i got payout of ~1.4% for 1 month . During May 15 2009, the program stopped to give payout and slowly no support and reply from the live chat.
Some investors that invested in this HYIP progams lost alot of money like $10,000~$100,000. If you search the net will know that many people got referred by friends and relatives etc to join in the program.
My advice is that HYIP is high risk , High Gain. If you want to invest and involve in these programs, do not put all eggs into 1 basket after you got payout for few week or month.
You never know who to approach if any of the HYIP programs collapse and u will lost every cents. My friends lost about $15K for this program.
How about you ? did you GAIN or LOST in HYIP ?

I’m xxxxx, I was looking for the way how to make online investment in the net, and someday I’ve found Stoic Capital the investment portal.

The main point of online investment was really far from my understanding. It was something new for me, something unexplored. I never thought before that investment can be so easy and simple.

I have spent much time for reading feedbacks about Stoic-Capital on boards and monitoring sites.

And I realized - Stoic-Capital really works and makes a profit for customers. So, I have decided to put some money in. First of all, in April I put $2000 and gain approx. 2 percent daily. I mean EVERY business day. I had $40 daily 5 days a week. It’s $200 per week - not bad for beginning, and not bad for doing nothing. Money been working without my meddling in process.

I’ve never known before and even couldn’t imagine that such slight investment can bring such sizeable profit. City banks and mutual funds surely can not give such profit consider my amount of first deposit. When I’ve got $1000 for a bit much more than a month I certainly decided that Stoic-Capital is serious project honestly paying its investors and taking care of their prosperity. So, I open another deposit. I’ve trusted so much to Stoic and I decided to deposit my savings of $25,000. I’ve just withdrawn it from my Bank of America account with their paltry percents.

Right before putting my deposit I found out that for amounts of more than $20K Stoic-Capital offers VIP plan. It’s 2.2% - 2.8% per every business day depending on day-trading results. These results are e-mailed to investors daily. Then I contacted the support of Stoic, their live-chat, which thanks God works 24×7 online. (It’s really convenient to get advice and explanation). So, right at that time I received information about such tool named COMPOUNDING. Compounding means re-investment of gained profit back to deposit, so it brings maximum profit to the end of deposit term.

That’s why in the middle of May I deposited last $25K of my cash and set up 100% compounding. In the beginning of February 2009 I will have $2,700,677.20 exactly. I calculated it using Stoic calculator.

At the moment I’ve earned profit of approx. $4500, withdrawn and cashed it out. That means that by now my profit return has already exceeded the initial investment more than twice. And I will gain the same amount of profit again till the end of the deposit term of 190 business days (24-12-2008). Profit from the second deposit together with the deposited amount of $25K will become available for withdrawing in 190 days, in Feb 2009, just because I’ve set up the 100% compound. Let all of day profit be added to the deposit for the next day interest be accrued on the bigger amount of deposit every day.

In May I knew about one more tremendous opportunity to make money that Stoic provides - their referral program. And I joined it to invite relatives, friends and mates to get wealthy too. Now I have 77 referrals who have already invested total amount of around $1,800,000. That brought me additionally $90K as referral fee. Not really bad for the beginning, is it?!

Now I know how to make much money. I have stabile income and become wealthy man thanks to Stoic-Capital. Now I feel the illuminative way open to me. The Peace is plentiful - just get in right time in right place! That is the Stoic!


Friday, July 17, 2009

Gold Price Go Higher Again This Week


Today, Gold Price has go higher again to USD 940/OZ. For those who bought Gold ( be it Physical Gold, Paper Gold or Gold Saving account ) last year or several years ago are making big profit for this year.
This is much better than investing in Stock market. for my case , My stock value has decrease an amount of ~60%. Maybe will take few years to recover.
But for Gold Downside Risk is Minimum, but upside again is Huge.
I've read some of the reports online saying that Gold Price will go up to USD5000/OZ in 3 years time, Next target price is USD1500/oz.
What do u think ? Possible ?

Forex