I agree completely. But I am done with banking. I've lost enough money. Plus, I don't not think its a good idea for anyone to bank with a bank that I own, or have any significant ownership interest in. I'm clearly a target, and I would not want to put anyone else in the cross hairs.
Euro Pacific bank is a scam
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That's exactly why I mentioned Dubai, far away from the IRS, Dubai will be extremely happy to have a full reserve bank in their jurisdiction, you've been there recently, you've seen how attractive it's become, and wouldn't it be sweet to take customers away from the useless Puerto Rican jurisdiction and bring them to Dubai, there is such a shortage of full reserve banks, and a strong demand for those types of banks these days, give it some thought, I wouldn't let this experience affect me on future business opportunities, quite the opposite.
I know a lot of us have suffered over the last 8 months and we want to vent our anger and frustration.
Yes some of that has been directed at Peter.
But I think he deserves a lot of credit for not running away after he did the deal with OCIF. He could easily have washed his hands of the whole saga and walked away - but he has come to this forum. We certainly get more information from him than EPB/The Receiver/OCIF.
Time will tell if we ever get our money back.
Yes some of that has been directed at Peter.
But I think he deserves a lot of credit for not running away after he did the deal with OCIF. He could easily have washed his hands of the whole saga and walked away - but he has come to this forum. We certainly get more information from him than EPB/The Receiver/OCIF.
Time will tell if we ever get our money back.
I completely agree, you have to give Peter a lot of credit for that, anyone else would have ran away.
All that we need now is get the money back and for Peter to make a bunch of millions from the defamation lawsuit against 60 Minutes Australia, that would be a sweet end to this ordeal.
Me too. Pure truth. I hope the Commissioner knew what she was doing or did as she was told. Puerto Rico's banking system is finished for me. I won't transfer a cent there either. By the way I have almost nothing to send now so what is the difference. I believe that was the point. No one in their right mind would destroy the banking system in such a spectacular way.
However, I would be careful with choosing another bank like EPB. Assuming that the fault is not on the side of the bank's management board, there can always be someone who wants to lay the bank down. There are many possible scenarios for disaster including inside job. Dubai is currently sleeping on money. This place has nothing above bussiness hub and spots for sightseieng. The geopolitical situation may someday be reversed. We can wake up with hands in the toilet again. I will seriously consider looking for more foreign jurisdictions considering the fact that I will see my money again and depression will not be faster.
I think we should join Peter then and sue 60 Minutes for devastating our lives and bussinesses. In the end we all should open with Peter for those milions new EPB II, but 10 times bigger. That would be perfect happy end.
Last edited: Apr 3, 2023
You can't sue 60 Minutes. You may be able to file a class action against OCIF, but in the end I think everyone will have their money back long before such a case could be tried. So the only damages would be lost interest. Not sure it will be worth the expense to a contingency lawyer.
I would like to provide even more, but have been told that doing so risks even further delay in returning customer funds. Its very frustrating, but I'm cooperating.
It would be a great idea to file a class action against OCIF, pretty much everything the Commissioner said at the press conference turned out to be false, and she didn't protect the interest of the customers, every other option than the one she chose would have been infinitely better, why would a third party like the appointed Receiver be a better option than having the owner of the bank solve the situation, it's absurd! That lady should resign, even though she was a puppet she could have handled this situation much better.
I understand your feelings and what you say. I get it. I just don't think it helps our cause in getting our money back right now.
I know it's caused me suffering and loss but I for one would just be happy to get my money back and move on with my life. Learn my lesson from the whole episode. I would like to move forward and start living the rest of my life again .
I don't want to be stuck in a courtroom for 2 years suing whoever in a court that might not exactly be impartial (Puerto Rico).
I wouldn't consider a lawsuit before the funds are returned, but after that all bets are off, and even if I also want to move on with my life, I do believe in holding people accountable for their actions, this situation is causing me to lose a lot of money, I'm not used to having my money stuck without generating more money, but I agree that finding a fair judge in Puerto Rico is probably going to be a challenge.
The real damage for me is I can not conduct my business at present, I have still some bills to be paid and I am repeating same shitty promises, as EPB/Quenta does, to the people that used to trust me. It is like stack attack now. One leg is broken and everything is going down including my relations with someone who should trust me as long as I am alive. I am able to prove my annual profit from each year of my business. I am able to prove the progress in rising my income. From this point It is easy to show the point where I ought to be today. That is the real loss for me. And taht is the real damage I am suffering. Not money but progress level that I would probably reach if I would not get knife between my ribbs. I will not turn back time.
I think about it all the time. Someone made a mistake here, and that's as sure as the sun in the sky. There is such a thing in life as being responsible for your own actions. Acting to the detriment of not one entity, but many entities is a matter of headlines or a separate interview in a television program. Where someone had eyes or thoughts... I have no idea. Not only other people's interests, chances and dreams have been ruined, but also the future of entire families is under a big question mark. There are certain boundary conditions in life that should be sacred. I understand someone wanted to turn off the lights in the EPB. This game can't last forever. Where are our rights. I have the right to decide what to do with my money, as long as it's mine. If someone acts against this fundamental law, it is called a crime. So for me, it's not like I've suffered damage because someone is the on/off manager and decided to turn off the lights in my company as well. No Receiver and no Commissioner can decide my life. My hands are clean and now the dirt shows up on other people's hands.
"I surrender my rights to sue OCIF for my personal damages as I was told it would expedite the return of customer funds, and minimize the chance that any customer would lose money" - so is that not a breach of the agreement by the OCIF if they have not commtied to thier end of the deal to return cusotmer funds in an expidited manner? In that case could you not sue them for breach?
Not the same at all. Credit Swiss had huge losses on its portfolio of investments. EPB had no losses on its portfolio. Credit Swiss couldn't handle a small run on the bank. In the year that followed the negative publicity EPB lose half of its customers. Very few if any banks could have survived a run of that magnitude. But has EPB kept all deposits in cash, it had no problem meeting all of those withdrawals. Credit Swiss failed due to market forces. EPB never failed. It was put out of business due to government forces.
That comment came from Btc100K, another Bitcoin psycho who is trolling social media while he waits for BTC to go to the moon and it's not even a customer of EPB.
It is interesting, if you listen to Lynetta Zang from itmtrading where she done an interview on Canadian Prepper, she is the view bitcoin is a test case for CBDC - look at when it was introduced just after 2008 crash and the founders identity is still not known.
Agreed, it's just that some in the Bitcoin community are taking advantage of what happend to the bank and its customers to discredit me and my views on Bitcoin.
You must be smiling with the price of GLD hitting $2020 today...., me not so much, I had to liquidate my 25oz GLD in EPB @ $1739 to facilitate this transfer out in August 2022..... OCIF must be held accountable for losses if they are to blame for this.
Luckily I held onto the Gold and Silver, but Qenta discontinued the Gold fund last year right when Miners were starting to pick up, and that really screwed me, the money invested in the funds is still frozen there, the system doesn't let you transfer the money to the current account.
Bitcoin lovers will take every opportunity they can to justify their love for Bitcoin, never have I seen a little army of millennials trying to convince the rest of the world of anything other than this scheme.
Question Peter, is the Gold fund available through a broker such as Charles Schwab or Interactive Brokers, or Fidelity?
Last edited: Apr 4, 2023
Guys keep to topic please ns2. If you want to discuss something off topic like crypto or gold your free to open a new thread.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
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