Global Bullion Exchange review: scam 8

I have been a client with Global Bullion Exchange since October of 2006. I would strongly disagree with both of the above claims of fraud. I was scared to get involved with any investment at the time as I was very new to the investment world. I must say though, the market has moved both in my favor and in the opposite direction. I have made money and lost money. Heck its an investment and you have to be willing to risk money in order to make money! Through trials and tribulations, I have made a favorable amount of money, and also learned a lot from my broker on investment strategies. The bottom line is if you invest dont just rely on one person. Watch you own account and learn. Its you and the broker against the market. Not the broker and the market against you.

Let me put this scam in prospective for you! They charge 15% of the total metal value, not the money you send in and intreast on the loan they give you for the alleged metal! Plus a 3% spread which means you have to be a complete [censored] to invest with this company! You purchase 1000oz of silver at 10dollars a oz=10, 000 total metal value. You come out of pocket 20% on your inital donation!(Not investment because you are giveing money away) So the minimum you come out of pocket to controll the 1, 000oz is $3, 800.00 Let me put it in prospective for you just out of you inital 3800 dollar investment it is now worth 2300 and that is with absolutly no market movement to the downside or upside! Now we have a 3% spread and intreast, as the market moves up, your account slowly depleats! If you have any questions in reguard to your broker with global bullion exchange, you should! Even though the broker might have best intreast for the clients, once he discovers the calculations on why every investors account is depleating, they will be terminated from the company. Per Matt b/Jamie B campony and of course Adam King! For gods sake the vice president of the company plead guilty back in 1996 on wire fraud and two other felonies, I mean is that realy someone you can trust to send your hard earned money to? Ask youself and your broker who minipulated u to use leverage, why am I that dumb to send my hard earned money to a guy without a college education! I would love to give you the scoup on this scam, But I am still waiting for a email from the state atturney! If you have any questions in reguards to this company please do not hesitate to email me and we can exchange phone numbers! I will tell you in depth everything you want to no abought this company! josephpaniello@yahoo.com

Mr. Joseph Paniello,

You make serious allegations in this post. First, the fact that you were terminated due to gross insubordination and other, documented failures in both your ethics and work performance should have given you pause before you make these claims of fraud. To add to this, I believe that you are currently wanted for arrest both in Florida and federally for fraud and related offenses, including violating your probation for drug possession and distribution, if I am not mistaken. You, Mr. Paniello, show a lack of factual accuracy both with your history with this company and with how we conduct our business. Your allegations are libelous and legally actionable, and may be prosecuted to the maximum extent allowed by law. Instead of further complicating your current legal situation, why don’t you call us and see if we can resolve this misunderstanding before you end up in open court defending yourself against a libel suit. As for others reading this post, before passing judgment based on these extreme allegations, please call us at [protected] and we will be more than happy to answer any and all of your concerns.

Adam King
Client Services
Global Bullion Exchange

hey joseph paniello you are an scandalmonger now?

2006 funny they were not around until 2007 those statements were not made by clients they were made by brokers. Don't take my word for it though google every person in a high position in that company. They all have criminal records. The executives there make maydoff seem like a great guy. Do not under any circumstances invest with this company. If you do I will give you 100 to 1 odds that you lose at least 50 percent of your investment.

College education? Why don't you read that whole paragraph over when you get a chance. It looks like you don't have an 8th grade education. The truth is there is risk involved but hey every investment does entail a certain degree of risk. Just because someone contacts you over the phone does not mean there investment idea can't make you money. I worked as a broker at GBX and I did show some of my clients profits. I have no reason to lie I have not been with the company for over three months. Every investment contains some aspect of uncertainty. If you are a person who wishes to diversify your portfolio by adding precious metals then I would say by all means give GBX a
shot. Most of the negative statements towards this company were written by unhappy brokers who could not excel in this field. A big reason for that is the highly competitive nature that exists in this company can easily irritate a person with a delicate personality. I only respond to these allegations because I did once work for this company and I feel that an insult to this company is in a way an insult to my integrity.

By the way I have personally witnessed the owner of this company amplify his own exposure to the occasional turbulent nature of the market to benefit the company's clients.

I agree with this comment. I talked to one of their brokers who was very aggressive in selling a silver deal. What made me suspicious was argument that checking their company before making my decision is a waste of an opportunity of making huge profit. So, according to him, i should have done investment first and then check them out at my leasure. He didn't say it but meant it of course. As all con artists do they try to convince you that best strategy in investment or any other games is to play with small money to establish "rapport" or "trust" with them. They even can let you make some profit to ignite your thirst for money depending on your yearly income or how much, they percieve, you are worth. Also, my experience with other metals says they are not liquid despite what they will tell you. For example, he said silver would be delivered to my door and at the same time he said this piece would be a liquid asset. But no information about certificate on it, will i get it or it is going to stay with them, what i am going to do with this bulk of a real metal piece, which require some care from being oxygenated. But for them it is not big deal. Of course not, they do not risk their money at all. No wonder they talk a lot and try to bring you back to the scripts to make your greed to overcome your senses. Just remember that there are no brokers in the world who are on your side. The best thing you can get it is them being neutral for a short period of time. You are against financial sharks and brokers are fish who gets their food from those sharks leftovers.