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FX United is a scam/ponzi scheme, avoid at all costs

There has been for the last few months another multi-level marketing (pyramid) scam going on in South East Asia and it is going under the guise of an FX trading company registered under the name United Global Holdings (in New Zealand) where insane returns and bonuses are promised if you sign more people under you and have them sign up more people etc. Some simple research and logical thinking would show that this is indeed a ponzi scheme as such incredible returns are really not possible with what they show to be their business model. Some further research will show that their operating address in New Zealand is fake and over 90% of all the websites traffic as of now is coming from Malaysia, which means it's a scam aimed at Malaysians. However, they have moved on to Thailand and they are going to open up an office in Bangkok, Lat prao and are now aiming at Thai investors and expats living in Thailand. They have also moved on to the Philippines.
Bank Negara (Central Bank of Malaysia) and the Financial Markets Authority of New Zealand has already given out warnings against the company:
http://www.bnm.gov.my/documents/2016/20160505_FCA_EN.pdf
http://fma.govt.nz/news/warnings-and-alerts/a-z-list-of-all-fma-warnings/#F
The following link also busts some of the other supposed information and the comments section also has some good info: http://behindmlm.com/mlm-reviews/fx-united-review-300-to-10000-cgat-forex/
Please tell everyone you know to avoid this at all costs.
submitted by willeatformoney to Thailand [link] [comments]

Livestock on the Blockchain

Banks are conservative and on the surface, they are portraying they hate cryptocurrency! Just look at the famous comment by Jamie Dimon who first says that he is going to fire any employee who buys Bitcoin but suddenly has an attack of conscience and now "regrets calling Bitcoin a Fraud". Of course, the firm he helms, JP Morgan Chase, was caught with its pants down buying Bitcoin as Mr. Dimon sent it plunging from US$5000 to US$3,000!! Brilliant move.
So it should come as no surprise if we find mainstream banks clandestinely supporting Bitcoin or Cryptocurrencies. But what I do find surprising is that there is one initiative support by our Maybank, the Malaysian Banking Giant! Now that is super cool, but what really makes it surprising is this initiative is for the UNBANKED, the segment of the population (the bottom 40% or B40 as our Government refers to them perhaps) that does not have a bank account or is simply not profitable as customers
And the initiative is with Sentinel Chain which now aims to unlock the value of the "hidden assets" which most farmers have, which is LIVESTOCK. Have you ever been to a kampung in the heartland? These are good working folks but they often lack the capital to expand their business. Now, if we could collateralise their assets (here it's livestock, or to put it in Crypto terms the Tokenisation of Livestock) then it would provide them with sufficient capital for expansion or for times when money is needed (imagine that it's the start of the school year but the livestock they have is still not in a position to be "monetised" - borrowing against your assets. This will ultimately bring various financial services to the unbanked such as banking, credit facilities, insurance and even crowdfunding. In short, it uses the spirit of Blockchain to attack a niche area in Agriculture (livestock) and attempts to liberate the farmers from the yolk of Poverty.
And considering that the rural folks form the backbone of the voter base of Malaysia (do you that FELDA alone can sway 50 Parliament seats?) this could be a strategic project in collaboration with the Government of ASEAN countries which have a high percentage agrarian base. And bringing these facilities together with ASEAN giant Maybank is a stroke of genius IMHO. Hello, CIMB, are you around to hear this?
Among the Services that Sentinel Chain will provide are listed below, which now looks like a menu from a financial services Supermart. Have you ever heard of crowdfunding services offered by a Bank?
Well, this seems to all fine and dandy and brings us to a farmer utopia world but how are we to identify the livestock (which have legs and wings by the way) which belong to a particular farmer? It uses an innovative Identification tag for Livestock.
In short, the core components are of this entire ecosystem which also features a Private Blockchain are:
Livestock RFID Tag - a tamper proof RFID tag attached to the livestock which provides immutability of ownership (asset tracking). Geolocation and timestamp information is affixed.
Cross Pay Mobile App (A mobile walled based on Android-Good move, since I doubt farmers have Apple iPhones!!) - A cryptocurrency token called SENC which is also attached to an LCT (Local Cross Pay Token) denominated in the users local native currency (there will be an LCT Ringgit for Malaysia, Baht for Thailand and Pesos for the Philippines are some examples). This avoids the issue of Forex conversion rates and makes usage and business transactions seamless across borders. Cross pay will operate across many countries.
B2B Marketplace - This puts all the components together as a Private blockchain so users can access financial services from providers all over ASEAN. There will be multiple Cross Pay blockchain in different countries
Ok, so now I understand. Could Maybank be secretly backing up all these ICOs and emerge as the Blockchain champion of ASEAN in the future? Leaving rivals such as CIMB in the dust as it moves aggressively into an untapped market? This is such a great ICO opportunity that I am surprised that the ruling coalition (Barisan Nasional) has figured out an idea like this. Releasing the rural folks and bringing them financial facilities of the 21st Century through Blockchain.
This is definitely an investable project in my opinion as it will break existing glass walls to the problems of the unbanked in many ASEAN countries. So there, now even farmers can go to the MOON with Sentinel Chain!!
NOW EVEN "DEAD CAPITAL" CAN BE FUNGIBLE ASSETS.
This is a classic example that blockchain is capable of addressing real-world issues and I would certainly love to see more projects similar to Sentinel Chain in the near future. Meanwhile, you can Google them up for more information. They have an active Telegram community: t.me/sentinelchain and you can find further details on their announcement channel: t.me/sentinel_ANN

senc #sentinelchain #blockchain #livestock #insurance #maybank#fenbushicapital #crosspay #iglobepartners #infocorp #mediashares#crowdo #vechain #proofofsupport

submitted by CamusAlpha to ico [link] [comments]

[Budget] Philippines budget 2042

Class IV Budget
Category Percentage Allocated Funds
Department of Education 18.03% $49,000,000,000.00
Department of Health 13.61% $37,000,000,000.00
Department of National Defense 9.20% $25,000,000,000.00
Defense Research & Procurement 1.38% $3,750,000,000.00
Department of Public Works and Highways 9.66% $26,250,000,000.00
Department of Social Welfare and Development 7.63% $20,750,000,000.00
Department of Science and Technology 7.36% $20,000,000,000.00
Department of Interior and Local Government 5.15% $14,000,000,000.00
Department of Agriculture 3.86% $10,500,000,000.00
Department of Transportation and Communications 3.31% $9,000,000,000.00
Department of Finance 2.67% $7,250,000,000.00
Department of Environment and Natural Resources 2.67% $7,250,000,000.00
Energy Transition Plan 6.16% $16,749,000,000.00
Sulu, Friendship, and Solomon Tunnels 6.33% $17,198,571,428.00
National Battery Banks 2.76% $7,500,000,000.00
Foreign Exchange Reserve Deposit 0.23% $612,722,703.83
Spending of foreign exchange reserves:
$1,660,000,000 to South Africa for purchase of gold
New foreign exchange reserves: $50,922,687,765
Maximum Gold reserves: 2117.9 tons
Maximum M0 : 4,229,226,559,000 PHP
These two values exist in an undefined equilibrium due to the gold standard. Some portion of the printed PHP is temporarily out of circulation after being exchanged for gold, and likewise some portion of the gold reserves is currently circulating in the economy. With growing forex reserves and no balance of payments crisis in the foreseeable future, it is unimportant to establish the exact figures.
As expected, economic growth is beginning to slow, but as of yet it has not conflicted with the tradition of expanding all budget categories at a greater rate than inflation. The Orongan administration predicts that foreign exchange reserves will begin to rise again starting next year, and remains optimistic about regional economic stability due to the peaceful Japanese annexation of Karafuto.
In light of these positive indicators, President Orongan has indicated her desire to proceed with the funding for the underwater habitation and research complex with New Zealand, Papua, and the Solomon Islands - widely considered to be an alpha stage to gather data for a future station on Jupiter's moon Europa in the 2060's or 2070's. A meeting will be arranged shortly with all involved parties to discuss the proposed direction of research during what will likely be a lengthy construction period.
Supporting this endeavor, the government has released a short teaser video demonstrating a hypothetical modification to Japan's Hachimann Landing System which includes a large ice drill. Though conditions continue to improve within the Philippines, the pace may be less than satisfactory for those on the bottom rung of society, and by promoting such long-term visions for the nation the government hopes to stifle potential unrest, especially in light of the growing popularity of the People's Action Party.
Growth rate modifiers are decaying by 0.05 per year. 4.5% new base growth + 0.40% long term growth in construction sector from Sulu Tunnels, Friendship Tunnel, and Solomon Tunnel projects + 0.10% from Third Energy Transition Plan + 0.05% growth in agriculture sector
Population growth rate frozen until next season when I can come up with a better model :/
submitted by varianlogic to Geosim [link] [comments]

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