jambutty

Welcome to the continuation of The Investors Corner thread.

The original thread has been made ‘sticky’ for easy access or you can click http://goldentalk.com/t19532-10-142.html to get to it.

jambutty

Carlo – you haven’t made a comment on or an attempt to refute one of my previous posts, so here’s your chance again to do so.

Sequence of changes.

Members should open their eyes and see what has happened with AP/TIC/TGE during the last few months. Many will have an uneasy feeling and can’t quite bring it to the fore so let me help you.

The first change was back in 2006 when the duration of the various plans was changed from weeks to days. Thus a 72 weeks plan of business days became 360 days. In itself rather innocuous and it did sort of help with the various public holidays. But it did open the door for the next phase to be implemented.

And that was when admin decided that instead of the principle being available for withdrawal at the end of a plan term it would be repaid daily. That couldn’t be done quite so easily if the plans’ durations were still listed in weeks. Thus for example in a 360 days plan - one 360th of the principle would also be repaid daily together with the day’s interest. Again a rather innocuous change and it did mean that we got more of our money back each day. For example with a principle of $10,000 paying 1.2% per day you would only have $120 available to withdraw each day. But with part of the principle being repaid each day you would have $147.78 available to withdraw.

I wondered about this because it just didn’t make economic sense. Even though the actual principle was being reduced day by day it was still paying the same daily interest as if it had not changed. It was this change that rang a warning bell for me.

This paved the way for what was to come later. Compounding would be re-defined by Carlo to fit in with the above change. Or was the above change made to fit in with Carlo’s definition of compounding? I guess we shall never know but it was about this time that we were reminded that compounding was not allowed even though there never has been the opportunity to compound.

I can’t quite remember when the capping bombshell was promulgated but it used all previous plans, the interest earned and principles in the calculations for whether any current open plans would be capped or not. In other words the rule changes were applied retrospectively.

Then came the next bombshell when we were informed that all open plans that had got to above the cap would be closed although we had the option of keeping them open if we opted for the interest to be set aside for shares. It was about this time that we were informed that all plans that had been opened with funds from the available balance would be nullified because the cash used to open a plan was interest that would not have been gained because of the capping. Carlo’s definition of compounding also came into the equation.

It now became clear why it had been decided to repay the principle on a daily basis – so that Carlo could re-define compounding. If part of the principle is repaid daily together with interest earned Carlo argued that if that part principle which was used to earn the interest was used to open a new plan it was compounding. And he accused me with playing with words. Now that really is CREATIVE ACCOUNTING.

Compounding is when the daily earned interest is added to the principle that earned that interest. You can compound on an hourly basis, or daily, or weekly, or monthly, or annually or any timescale but in all cases the interest is added to the principle that earned the interest. It is not compounding when part of a principle and interest from one plan is used to open another plan. Not in bona fide banking circles it isn’t.

With hindsight you can see the carefully orchestrated changes so that we arrive at the current situation. Where members have little or no chance of getting any money out of TIC and those that can get something will have to wait years to do so.

Putting it into simple English, we have been led up the garden path whilst making it seem that it was all being done for the viability of the company. Not forgetting that if the worst comes to the worst, as it surely must, it is we the members who will be to blame not management.

jambutty

Just to refresh your memory Carlo I also posted and you have not made any comments about it.

Well as far as I’m concerned one 72 Weeks Gold Plan funded with $1,100 direct from my E-Gold account on the 12th July 2006 (Transaction ID 64512581) has ended up as earning for shares only because it was threatened with closure or opt for shares. Closure meaning loss of $1,100 principle that came direct from my E-Gold account. It will be at least 36 weeks before I will find out if I get that $1,100 back. After all principles are supposed to be guaranteed.

One 72 Weeks Gold Plan funded with $1,100 from profits from all the other plans has also ended up as earning for shares only because it too was threatened with closure or opt for shares. It will be at least 42 weeks before I will find out if I get that $1,100 back. After all principles are supposed to be guaranteed.

One 360 Days Basic Plan funded with $630 from profits from all the other plans has just disappeared, as has $55.15 accrued interest. How can I get that guaranteed principle back if it has been removed from my TIC accounts? I class that as being STOLEN.

7 previously matured and paid out into E-Gold plans have been used as part of the calculations to determine if my account had passed the cap as it applied to my account. That’s what I call CREATIVE ACCOUNTING or more bluntly CHEATING, SWINDLING, CONNING.

All I get from Carlo is a load of double talk and as I have made an overall profit of 26% I shouldn’t be complaining.

An attempted withdrawal of $150 of profits from the 360 days Basic Plan to E-Gold before it disappeared has ended up as a $150 in the Pool Beginners Plan and has earned me $0.0565 in six days. That’s an average of $0.009416667 per day or 0.006277778%. It will take 1,593 days (nearly 4½ years at 7/7 payments or just over 6 years at 5/7) to achieve 10% profit.

If I’m going to take a gamble with my money I would want far better returns than that.

jambutty

How about a response to this post Carlo?In the email dated 2nd April 2007 with “RESULT OF THE SURVEY AND NEW SYSTEM” as the subject, it reads in part:How you can get nearly 80% voted from those figures is a mystery to me. If you average out the percentage yes votes you get 66.63% voted yes out of 337 votes cast per question. Tell me again how you can possibly see 66% as nearly 80%.

The modern term is spinning but in old world language it is telling outright lies.

And of course not everyone voted - just 377 out of an active membership of approximately 480.

So out the actual number of votes cast (1572) an average of 224 voted yes and that is less than 50% of the total active members.

kaloksi

Still waiting for Carlo's reply to this one :

Islander

And dont forget it'd be interesting to know how the Special Plan can pay 0.85% daily whilst the Standard plans pay 100 times less than that - seeing as profits for both plans depend on profits made in TGE. (Don't they??)

dabrozio

It is really sad to see that what started out to be like a real legitimate investment program is now turning out to be a real scam. I personally had lots of confidence in Carlo's program in its early beginnings because I thought he had a good business model (ecurrency trading) to support the high interest rates he offered. I still think that if he and his cohorts had done a competent job at running the business it may have been quite successful. Unfortunately this was not the case. Carlo and his group of incompetent managers screwed up royally and thus we are where we are today.

jrjmkey

I don't agree with the above comment at all.... having said that...

I highly agree with the comment above.. I think that carlo would do himself and all the investors and employees a huge favor and stop allowing himself to be baited by Jambutty this is NOT the place for any serious business to spend their time defending themselves against public opinion.

I mean seriously there has been more than one time that jambutty has been proven to be wrong in how he read something or things he missed while reading the intention of an update, just as there have been plenty of points he has made that are valid.. the bottom line is that this is NOT the AP/TIC/TGE support system and as such every single time Carlo or any staff member allows themselves to be baited and posts here in anger they just hurt themselves and the public perception of their business.

I also strongly agree that Jambutty being a MOD and investor should have long ago removed one of those hats but I'm not the owner of this forum so I have zero say in the matter. But the point remains repeating the same questions over and over again to try and goad Carlo into answering is really pretty lame IMHO.... the only hope any of the AP companies has is to put this behind them and move forward like a real business... I highly doubt you'd ever see the CEO of Paypal for example posting in HYIP forums in fits of anger...

Time to move on, let the naysayers speak their minds as is their right but for god sakes Carlo et all, just ignore it and respond to official helpdesk requests only.

Take the above for what it's worth...

jrjmkey

But this isn't the AsianPay or TIC or TGE support forum... open a ticket... I would think any questions such as this should be 100% totally ignored in a public forum... .it just encourages more back forth among the zealots and the non believers... time to keep support issues in the support system...