Well, since the majority of the Genneva gold bullion investors are Chinese I suppose this proves that the Chinese are greedy and are driven by lust -- lust for quick and easy money. And since the Chinese have demonstrated that they have this great lust then they must also be having lust for power. And this explains why the Chinese want to kick out the Malay Umno government.
NO HOLDS BARRED
Raja Petra Kamarudin
Genneva involved 35,000 investors, investments of RM10bil
(Bernama) - Some 35,000 investors with total investments clinching RM10 billion were found to be involved with the gold bullion investment company, Genneva Malaysia Sdn Bhd, a deputy minister told the Dewan Rakyat today.
Deputy Finance Minister Datuk Dr Awang Adek Hussin said based on the information received thus far, total investments received amounted to RM4 billion and could swell to RM10 billion.
He said Bank Negara Malaysia needs time to investigate the case based on two considerations deemed necessary to solve the controversy over the gold bar trading scheme.
"Firstly, Genneva Malaysia has been "disguising" behind the gold bar business. Gold is a sentimental attraction. Many people are keen on gold regardless of their background including leaders.”
"They (the investors) feel this is a genuine business.”
"Secondly, Bank Negara has to study the situation. The central bank cannot raid straight away. For instance, if Bank Negara conducts a raid today and starts a probe, the central bank is also scolded at, because of their raid, investors lose their returns.”
"So Bank Negara has to consider, the central bank cannot act very quickly or very late. A balanced consideration is important. I feel all of us will learn from this experience.”
"Hopefully, we can better handle these type of cases in future," he said when replying to a supplementary question from Datuk Ibrahim Ali (Independent-Pasir Mas) during question time.
Earlier, Awang Adek told the House that Genneva Malaysia's liabilities were more than the company's assets and this clearly showed that the company cannot afford to pay the due returns to its investors.
The authorities recently conducted a raid on Genneva Malaysia and its associate company on suspicion of violating the Anti-Money Laundering Act.
Datuk Wira Ahmad Hamzah (BN-Jasin), who posed the original question, had asked the Finance Ministry to unveil measures taken to curb get-rich-quick schemes which indulge in deposit-taking and illegal investments.
In his reply, Awang Adek said Bank Negara was considering imposing a more deterrent sentence on get-rich-quick scheme operators in efforts to wipe out such scams from continuing to cheat the people.
The ministry, in collaboration with related government agencies, including enforcement divisions, was monitoring closely and gathering intelligence, besides getting information from public complaints, he added.
***************************************
Get-rich-quick schemes (Skim Cepat Kaya) such as tontine schemes, Ponzi schemes, etc., have been around for a long time. Tontines (known locally as ‘kutu’) have been around since the 1800s and Ponzi schemes for about 100 years now.
Actually, get-rich-quick schemes have been around since time immemorial. The only thing is the name changes from time-to-time but the objective always remains the same -- make a lot of money from a little bit of money in the shortest possible time.
I remember 40 years ago in the early 1970s the Gemini Chit Fund scandal hit the country. I had actually ‘invested’ in that scheme and made quite a bit of money. I got out just in time, though, before they were closed down and the tail-end investors lost their pants.
Then we had the ‘Pak Man Telo’ Ponzi scheme that first emerged in the late 1970s and ran for about 20 years before the government sprang into action and closed it down. Most of the people caught with their pants down were Malays, a huge number of them rank-and-file police personnel and those from the kampong.
Since the ‘Pak Man Telo’ Ponzi scheme affected mostly Malays it did not become an 'election issue' like the current Genneva gold bullion fiasco. Somehow, anything that affects the Chinese always becomes an election issue. Even giving out white envelopes instead of red envelopes for Chinese New Year can be turned into an election issue. But this would be only if the white envelopes were given to Chinese. If given to Malays then it is not an issue.
The strategy in these get-rich-quick schemes is to prey on humankind’s lust -- lust for wealth, power, recognition, position, etc. Humankind works on the basis of wants, not needs. Hence lust is very crucial in the whole scheme of things.
We need food on the table, clothes on our back, and a roof over our head. Those are our basic needs. But once we meet those basic needs that would no longer be enough. Once we meet those basic needs then our wants take over. Then we want expensive clothes, jewellery, designer shoes and handbags, mansions, exotic cars, power, titles, and much more.
Do we need all these? Of course we don’t but we want them anyway.
And that is why get-rich-quick schemes work. Those behind these schemes prey on peoples’ lust or wants. And if you can convince them they can make a lot of money from very little money in the quickest time, they would entrust their money to you -- especially if there are ‘references’ from others who already made a lot of money from the scheme.
To be successful in politics you also need to play on peoples’ wants. Most voters might already have what they need. In fact, most Malaysians already have what they need. No one (except those such as drug addicts, etc., who choose to do so) is sleeping on the streets. We do not hear of anyone dying of hunger or starvation. No one walks around naked. So what more do the people need?
They actually need very little more. They already have what they need. But it is what they want that counts. And they will vote for the government that can provide them these wants.
If it is merely about your needs then you can survive living off the land in the middle of the jungle. You will not need a huge mansion or exotic car in the jungle. You do not need Birkin handbags, Rolex watches, Jimmy Choo shoes, Polo shirts, etc., in the jungle. In fact, you do not even need these if you live in town. But you want them anyway and if you can’t have them then the government is bad and needs to be kicked out.
Oh, but we are not kicking out the government for these reasons. We are kicking out the government because it is corrupt. Take the RM40 million ‘donation’ scandal involving Umno Sabah as an example. That is why we need to kick out the government.
But the RM40 million ‘timber kickback scandal’ involving Umno Sabah is not something new. This has been going on for almost 50 years since 1963. That’s right, it has been going on for almost half a century. And we have been telling you this for almost 40 years since the 1970s (at least I have, anyway).
But this has never concerned you before. The more we tell you about all this the more you vote for Barisan Nasional. In fact, you looked at us as if we were crazy -- barking like a mad dog. Many times you scolded us and told us to just shut up. Now you appear to be screaming more than we are.
So, no, I do not believe you want to kick out the government because the government is corrupt. I suspect that this is bullshit and that you have an ulterior motive. I suspect you are up to something no good. I suspect that this is merely a Chinese conspiracy to grab political power from the Malays. If corruption is really an issue then you would have kicked out the government a long time ago and not wait 55 years to do so.
I know you all are a suspicious lot. Whenever I write something you are always suspicious of me. You suspect that I have a hidden agenda and that I am doing this for some personal benefit.
Well, I, too, am just like you. I too am suspicious. I too suspect that you have a hidden agenda and that you are doing this for some personal benefit. Hence you want to kick out the government not because the government is corrupt -- because the government has always been corrupt for over 55 years and you never cared about it before this. I suspect you are not sincere and this is all about the Chinese kicking out a Malay Umno government.
Well, since the majority of the Genneva gold bullion investors are Chinese I suppose this proves that the Chinese are greedy and are driven by lust -- lust for quick and easy money. And since the Chinese have demonstrated that they have this great lust then they must also be having lust for power. And this explains why the Chinese want to kick out the Malay Umno government.
Hmm…Chinese logic does make sense, does it not? You swim. A duck swims. So you must be a duck. Raja Petra Kamarudin whacks Pakatan Rakyat. Barisan Nasional also whacks Pakatan Rakyat. So Raja Petra Kamarudin must be supporting Barisan Nasional.
I just love what 5,000 years of Chinese civilisation and Chinese philosophy can teach us.
Want to see another example of Chinese logic and philosophy? This is what Malaysiakini wrote:
In the middle of April 2011, blogger Raja Petra Kamarudin, better known as RPK, dropped a bombshell in denying his sensational statutory declaration dated June 2008. He claimed that he had been misled into making a false allegation against Rosmah Mansor, wife of premier Najib Abdul Razak.
So there you are -- another example of Chinese logic and philosophy at work. That is what 5,000 years of Chinese civilisation has given to the world. I don’t know how Malaysiakini came to that conclusion but who am I to argue with 5,000 years of Chinese logic and philosophy?
Deputy Education Minister Datuk Dr Wee Ka Siong (picture) said the ministry would ensure quality of the students would be maintained while the syllabus was not too examination oriented, despite the PBS replacing the Ujian Penilaian Sekolah Rendah (UPSR) and Peperiksaan Menengah Rendah (PMR) examinations.
