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Posted: 07 Nov 2012 06:38 PM PST

Whether these gold investors (or rather traders as what Genneva diehard fans would like to be known) actually poured merely RM30,000 or as high as RM285,000 each into the scheme is immaterial. The fact is most of these investors emptied their life savings believing Genneva scheme was a revolutionary and innovative business model – a blue ocean business strategy that could easily put McDonald and Apple Inc. business model to shame. Naturally, these street-smart Gennevarians cried foul and ran amok when their golden goose was slaughtered – by the authorities. They are crying for blood and refuse to wake up from their slumberland.

They are upset the Central Bank took away their cash cow. They are furious they cannot milk their golden cow anymore. They would curse and whack you till kingdom come for suggesting Genneva Gold scheme was actually a brilliant and sophisticated Ponzi scheme. They are crying because their children, parents, grandma, kitten, hamster, goldfish and whatnot are dying because they can't afford the medicine after the Central Bank robbed their gold and monthly Hibah gift money. They are suggesting jealousy and cooking up tons of conspiracy theories as being the motive because Genneva was so successful that the company's gold bullion could easily dwarf the Central Bank's reserves (*woohoo*). In short, it's everyone's fault but theirs.

If the 14,000-plus Facebook Genneva Supporters Likes is any indicator, between 20% to 40% of Genneva gold traders (they don't like to be called investors *tongue-in-cheek*) were painfully affected by the raid. This numbers can also means the high rollers or kings (of MLM and get-rich-scheme regulars) have long gone leaving these desperate leftovers running like headless chicken. While many greedy yet arrogant traders actually pawn everything including their undergarments and even took loans from financial institutions, a certain sector of illiterate yet ignorant rural folks bet their life savings on the scheme – all because of 1.8% to 2.5% monthly gift money.

You can also bet your money that a portion of these Facebook Genneva Supporters actually do not have the physical gold bullion in their possession – they left it with Genneva for safekeeping because renewal every 3-months required the gold bullion to be presented to Genneva – a successful trick by Genneva deliberately inconvenience the buyers. While the more fortunate buyers have at least their physical gold bullion as consolation prize, the "unfortunate" risk takers have only a piece of certificate of ownership as their trophy.

Latest update from the authorities revealed (from seized records) many investors who had paid had yet to receive any delivery of gold. The statement also said the total amount of gold seized during the raids from all the companies (Genneva Malaysia Sdn Bhd, Pageantry Gold Bhd, Caesar Gold Sdn Bhd and Worldwide Far East Bhd?) is approximately 142.7 kilogram, and monies in bank accounts and cash amounts to RM101.92 million – a puzzling figure considering Genneva alone is said to have monthly turnover of RM2 billion. So what happened to all the glittering gold bars and billions of ringgit allegedly robbed by Malaysian Central Bank?

At yesterday's gold price of US$55.51 (RM169.39) per-gram or US$55,513.41 (RM169,359) per-kilogram of gold (the gold price has been trending down, mind you), there should be 11,809 kilograms of gold in Genneva's vault, based on RM2 billion of turnover. Either there should be 11 tons of gold bars or RM2 billion in Genneva's bank accounts (and cash). Now, let's give the Gennevarians the benefits of doubt. Let's assume there were indeed tons of gold bars and billions of cash prior to Central Bank's raid. What can the Genneva buyers do to get back their hard-earned gold and money?

Posted: 07 Nov 2012 06:18 PM PST

At the forum, Lembah Pantai MP Nurul Izzah Anwar had said that there was "no compulsion in religion" when responding to a question from a member of the audience on whether religious freedom also applied to Malays.

This was reported by Malaysiakini under the headline, 'Nurul: There should be no compulsion in choosing faith.'

NONE Nurul Izzah had also said, in her reply to the question, that she was "tied to the prevailing views" in the country.

On Monday, Utusan Malaysia attacked Nurul Izzah for her comments at the forum in a report on its front page, and quoted the Malaysiakini report in the article headlined 'Melayu perlu bebas pilih agama?' (Should Malays be free to choose religion?).

Subsequently, Nurul Izzah was accused of advocating apostasy among Muslims - a claim she has vehemently denied and has threatened law suits against both Utusan Malaysia and Berita Harian.

Deputy Prime Minister Muhyiddin Yassin, who also stepped into the row through a Bernama report yesterday, questioned why the Lembah Pantai MP was suing the two dailies, but not Malaysiakini.

Here, Malaysiakini produces the transcript of the event, during the period Nurul Izzah responded to questions from the floor.

She took the questions ahead of other speakers because she had to leave early.

Question 1: It's heartening to know that you just cannot coerce someone into believing your beliefs, right? On any matter.
Now, I do want to ask a very controversial question, so what then the LGBT (lesbian, gay, bisexual and transgender community) here or the sexual minority here?
I'd like your views on that because there are people who feel that just by being able to love the same sex goes against their religion or beliefs, but we don't believe that.
Our own beliefs are such that we are answerable to God, yes, but let us be answerable to God. Thanks.

Moderator: YB Nurul can you... all right, we'll have one more, just one more question, then she'll answer both then take leave. Yes.

Question 2: I'm very happy to hear YB Nurul speak about freedom of religion. Does she actually apply that to Malays as well in terms of freedom of religion? That is number one.
Number two, I think it is a fallacy to believe that Egypt now is (in) a better condition than it was before. Everybody knows that it is getting worse.
I have a friend in Egypt and she is really not happy about what is going on over there, so I do believe YB is trying to promote the idea of an Islamic state, like you know this which is completely not true.
But mainly my question is, when you speak of freedom of religion, are you actually applying to the Malays as well? Thanks.

Moderator: Well YB Nurul, that's a good way to start the morning.
The audience laughs.

Moderator: You have two questions of great import at two ends of the spectrum. Could you try to answer that, please.

Nurul Izzah: Thank you, Cyrus, I love too.

The audience laughs.

Posted: 07 Nov 2012 04:54 PM PST

Shafie Apdal, the Minister of Rural Development is very much jealous of his counterpart in Sabah, Musa aman and is repeatedly attacking Musa and opposing his candidature for the continuation as Chief Minister. Shafie was responsible for undermining Musa Aman's leadership by instigating Lajim Okim to call for the removal of Musa as chief minister by appeasing Lajim with a RM150 million road project from his Rural Ministry. Shafie also helped form KDM Malaysia to divide the Kadazan Dusun Murut (KDM) community, politically weakening Pairin Kitingan and PBS, hence forming a wedge between Pairin and Musa. Now, Shafie Apdal is masterminding the return of Yong Teck Lee (SAPP) into the BN fold and claiming he has the tacit approval of Najib Tun Razak to negotiate the return, despite word of the Sabah BN components distrusting Yong. Yong Teck Lee, Shafie Apdal and Joseph Ambrose Lee were partners in crime, taking over the RM30-billion timber wealth of Yayasan Sabah through share-swap, in a time when Yong Teck Lee was Sabah chief Minister and Shafie Apdal was Directer of Yayasan Sabah.

Like it or not, it was Musa Aman who was the then state finance minister who rejected this share-swap deal, saving Yayasan Sabah from a pending doom. Shafie Apdal's intention of bringing Yong Teck Lee back into BN will weaken Musa Aman's leadership among BN followers in Sabah due to Musa and Yong's bitter relationship. At this moment of time Musa Aman and all the other BN component parties have got a fantastic working relationship.

SO the big question is: Why is Shafie so jealous of Musa Aman?

Obviously Shafie dreams of being the top dog, for sure, but I firmly see it envy forming due to Musa's many achievements which has catapulted Sabah to the top position among the States in Malaysia.

It is wrong to say that Sabah has registered improvement in one or two areas. In fact there is no area in which Sabah has not progressed. Education, law and order, good environmental practices, forest protection, clean water supply, electricity, agriculture, industrial progress, urban development, rural development, exports, solution to Sabah's illegal immigrant problem, increase for oil royalty – in whatever angle you look at, Sabah attracts deeper attention in every area, registering a surplus in many areas. But Sabah is not satisfied with this achievement. It is not resting on its laurels but is focusing on earning more surpluses. The reason for this attitude is that Sabah does not think only about itself. It thinks for the whole of Malaysia. Sabah is the locomotive engine of Malaysia and is keen to contribute more for Malaysia's growth.

When Sabah attained independence in 1963, Malaysia was born. Right from independence in 1963 to 1985, Alliance- Barisan National ruled Sabah. After 1985, Datuk Harris Salleh was defeated, Pairin Kitingan from Party Bersatu Sabah became the Chief Minister. But even at that time Sabah was ruled by the Barisan National until 1986 when PBS pulled out from BN. In 1994, BN wrested control of the power from PBS when Lajim defected from Parti Bersatu Sabah which won the Sabah election, and his action opened a floodgate of defections from PBS and saw the collapse of Pairin's PBS government. Sakaran Dandai became the first Umno Chief Minister in Sabah in 1994.

In 2003, Musa Aman was appointed chief minister. Musa Aman faced crisis after crisis immediately on assuming office. First the state treasury was nearly negative, Yayasan Sabah was on the verge of going bust, state agency were negative and the financial situation of the state was in shambles. Musa Aman had to prudently turn around the mess he inherited. In 2004, Musa Aman faced assembly elections and captured more seats than in 1999 and became the Chief Minister again. He won again in 2008 with a thumping victory winning 59 out of the 60 state seats. Musa Aman has earned the title as the longest serving Chief Minister of Sabah. Musa Aman is facing elections again expected within the next six months.

Sabah registered remarkable progress in the last ten years of Musa Aman's rule. Nobody including his opponents can deny this.

Kredit: www.malaysia-today.net

Khamis, 8 November 2012

Malaysia Today - Your Source of Independent News

Malaysia Today - Your Source of Independent News

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