What you will find in this edition
- Scam Alert
- Good Reads
- Swiss Trust Company Acquisitions
Financial Scams – The Iraqi Dinar
Financial scams are in full swing this time of year. One of the most popular seems to be the foreign currency investment scam . Every week our office receives a call from either someone offering the scam or a victim looking for advice. It is easy to dismiss such activity and believe that only very unsophisticated individuals can be taken advantage of by this scheme. We would suggest, however, that is not exactly the case. The pitchmen of such activity can be pretty smooth and convincing. As such, we wanted to make you aware of it. Below is a link and a description from Consumer-Fraud-Reporting.org and a brief video.
From the Consumer Fraud Reporting.org
Click here to review full report
Investments in foreign currency can sound like a great idea, and scammers frequently use real current events and news stories to make their pitches even more appealing. They advertise an easy investment with high return and low risk when you purchase Iraqi Dinar, Vietnamese Dong or, most recently, the Egyptian Pound. The plan is that, when those governments revalue their currencies, increasing their worth against the dollar, you just sell and cash in. Unlike previous hoaxes, you may even take possession of real currency. The problem is that they will be very difficult to sell, and it’s extremely unlikely they will ever significantly increase in value.
Forex contracts provide the right to buy or sell a certain amount of a foreign currency at a fixed price in U.S. dollars. Profits or losses accrue as the exchange rate of that currency fluctuates on the open market. It is extremely rare that individual traders actually see the foreign currency. Instead, they typically close out their buy or sell commitments and calculate net gains or losses based on price changes in that currency relative to the dollar over time.
Forex markets are among the most active markets in the world in terms of dollar volume. The participants usually include large banks, multinational corporations, governments, and speculators. Individual traders comprise a very small part of this market. Because of the volatility in the price of foreign currency, losses can accrue very rapidly, wiping out an investor’s down payment in short order.
The scammers make it sound like a great investment, but it’s a scam. The scammer sells you essentially worthless currency for which you pay real dollars. The hoax is so appealing because, unlike previous forex (foreign currency exchange) scams where victims were given a bogus “receipt” for their money, you can actually purchase these currencies. The problem is that they will be very difficult to sell, and it’s extremely unlikely they will ever significantly increase in value. Many experts have explained why the investment promises are false.
The Iraqi Dinar is the most popular currency used for this scam. But given recent political upheaval in Egypt and the growth of the Vietnamese economy, these currencies are also gaining traction.
This is a fantastic book. It is well-written and compelling. If you are an athlete, entrepreneur or just interested in pop culture – which the Nike shoe company certainly reflects – this book will not disappoint. Within its pages, Knight’s book tells the chronological story of building his company. However, it is much more since he makes you feel his pain, angst and the entire gambit of emotions he must travel through to build an iconic company. We found his honesty the most inspiring and revealing. Often, he acknowledges that there was no great vision but just a desire to keep going. We consider it a must read.
“The cowards never started and the weak died along the way. That leaves us, ladies and gentlemen. Us.”
– Phil Knight, Shoe Dog
Swiss Trust Company Acquisitions
Our goal is to create cutting-edge periodicals and innovative strategies, which create
new avenues of profit.
One of our preferred methodologies is the Swiss Trust Company business model which remains as the perfect alternative to a Captive Bank and grants ownership almost limitless profit opportunities and asset protection. We are the recognized leader, innovator and specialist in the field of Swiss Trust Company acquisition. Offering more than 25 years of hands-on personal experience, the management of Corb7 International has guided more clients to successful endeavors with Swiss Trust Companies than any other alternative source. We will provide you with a true turnkey acquisition – this will include acquiring the company, Swiss administration and a legal retainer with a top law firm located in Zurich – all for one investment. Our Zurich based associates provide superb administrative services in addition to having the all-important in-house SRO license. It is our mission to save you both time and money when it comes to implementing a successful cross-border strategy. The Trust Company you choose will be FATCA and OECD compliant in addition to having been walked through a strict due-diligence process guaranteeing it to be free of any present or past liabilities. Please note: Swiss Trust Companies are not tax shelters.
Swiss Trust Company established in 1962
Swiss Trust Company established in 1975