Thread: Karatbars, invest in Gold, karatbars.com

Originally Posted by omadawn

What if you try to do even a small research

Ok, lest I be branded one more sardonic hater of great opportunities I did just that.

Can only pray each Karatbar comes with a very large tube of Astroglide and something to bite on. Never mind bullshit matrix recruiting stuff that spells scam for sure!

There are three primary scams when buying and selling gold.

1. The price people pay is too high, and the price they sell at is too low in relation to what the market price should be. This is the simplest and most common.

Cash for Gold Scams

2. Cons say they are buying you gold/silver and will store it for you and sell it when the time comes. Often coupled with 1, and in some cases they never buy the gold at all.

3. Outright fake gold coins and bars made with gold coated Tungsten.

Let's start with one and see if the folks at Karatbars are worth doing business with based on pure math.

As of today:

A preferred purchase of a 1 gram Karatbar is Euro 47.42. This equals Euro 1344.33 per ounce. (28.3495 Karatbars)
Needs to be converted to ounces to make the math consistent with where someone can very closely buy or sell on a regulated exchange at Euro 981.10 per ounce.

So for an internet entrepreneur to buy 1oz of Karatbars they will spend 1344.33 for the same purchase they could basically make on the open market for 981.10. A 37% premium. Let's stop there and call shenanigans.



It gets a little better when a lucky network marketer goes to sell. As of today, those generous folks at KB will buy back 1oz of Karatbars for 945.17 (Euro 33.34 * 28.3495). Keeping in mind the same ounce could be sold for close to Euro 981.10 on an open exchange. A mere 4% haircut on your way out.

If you consider a 41% total beating just to play some sort of money game a winning proposition then I suspect KB has a swell deal for you.

Incidentally as I am aware there are some discrepancies in exchange versus private transactions, especially in smaller quantities. 1 gram of Gold on EBAY is selling for Euro 38.61 meaning KB could buy on Ebay, mark the **** up 22% and there is your "preferred price". If you are not a member of the no reach around gold club, the beatings get even worse.

karatbars bullshit math..JPG

Sulu Please.JPG

While I may have been a little hasty with my wit this morning in calling this garbage pushed by every serial pimp in pimpland, we now need to include people who really suck at math.

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But there's more, when you ask for a small amount of research I figures why not. I understand the argument for buying physical metals, but leaving others to "watch over" them can simply trade one problem for another. I''ll be brief.

Why is this important? LBMA is who Karatbars claims certifies their gold. Do they, I have no idea, but if I were buying this overpriced crap I would have some way of verifying the quality other than taking their word. I.E. take physical delivery.

Fake Gold Bars Discovered in HK LBMA Approved Vaults Fake Gold Bars Discovered in HK LBMA Approved Vaults - Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner

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Sure you say, that was a one off. To which I say this looks like a pretty real bar to me. But I know nothing about gold.

Gold Counterfeiting Goes Viral: 10 Tungsten-Filled Gold Bars Are Discovered In Manhattan | Zero Hedge

Fake Gold.JPG

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Sure you say, but its not like there is a Chinese company that makes fake gold bars and coins. And if there were, no one on the interwebs has ever been known to try and pull a fast one.

Get Your Fake Tungsten-Filled Gold Coins Here | Zero Hedge

Notice: Chinatungsten Online (Xiamen) Manu.& Sales Corp. is a very professional and serious company, specializing in manufacturing and selling tungsten fake gold coin and other tungsten related products for more than two decades. We are a professional tungsten fake gold coin manufacturer. Our tungsten gold fake coin is only for souvenir and decoration purpose. Here we declare: Please do not use our tungsten fake gold coin and other fake gold coin products for any illegal purpose. We can provide all kinds of tungsten fake gold coin as your requirements.Our tungsten fake gold coin products are qualified

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Sure you say, but I know this guy locally who is in the city council and runs a coin ship, surely he wouldn't screw me.

Ron Wilson pleads guilty to $59 million, 11-year Ponzi scheme - Story

"I began operating what is generally known as a Ponzi scheme," Wilson's confession says. It says Wilson told clients he would buy silver at low prices and sell at high prices, but "most of the time I did not buy silver."

Whatever though, I am sure you spent a lot of time thinking this stuff through.