A few days ago, I saw a Channel 8 news bulletin on Genneva Gold Trading Firm, which is a company that offers gold buyback scheme to investors. Apparently, it is being sued by its customers for not meeting its financial obligations. Quite a number of Singaporeans had actually invested with the company. In the news, one customer even showed the reporter that he had invested hundred of thousands in such scheme but is now desperate to get back his monies. At the back of my mind, I doubt he can ever get back any of his principle investment. Even if he does, the amount he can get back is most probably a fraction of his initial investment.

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I have absolutely no sympathy for Singaporeans who had sunk in their monies and lost their life savings in these gold buy-back schemes. In fact, I think they deserve it. ...