It was coined as the biggest and most glamorous event of the year: the highly promoted “Gold Independence Day” event in Las Vegas on July 4, 2019. In the end, it turned out to be a complete and absolute disaster. Coordinated by the fraudulent duo, Harald Seiz and Josip Heit, the corrupt team behind Karatbars, Gold Standard Banking, White Rock and the worthless KBC and KCB coins, the event and thus the whole “KB Universe” turns out to be a big scam. You know, the same types referred to as Ponzi or pyramid schemes apply here.
Recalling the bold promise of the rogue Mr. Seiz, the coin would be valued at $0.40 as of July 4, 2019, or 100 coins worth one gram of gold. Be sure to watch Seiz’s “personal guarantee” to be able to exchange 100 KBC for one gram of gold on July 4, 2019 (see here> (https://youtu.be/B_eZckZMW-o). Thousands of innocent people invested a few hundred or even a thousand dollars in the coin, because admittedly when you hear all this, you think that nothing can go wrong – quite the contrary, everything that could go wrong went wrong.
A day earlier, on July 3, 2019, many well-believing Karatbars affiliates campaigned for the event (https://youtu.be/Am9KD4ribNE). The hype sent the KBC Coin up to $ 0.11 before crashing to $ 0.07 on July 4, 2019, and to just $ 0.05 on July 7. Where a hype is, the scam is not far behind.
Frenetically, the exchange of 100 KBC coins for one gram of physical gold was advertised, for weeks, even months. And then came the 4th of July, the day on which all investors shamelessly duped, were sold for stupid. Suddenly everyone looked old. There was no gold nor did the KBC Coin generate the guaranteed 40x return. When the cat was let out of the bag, the promised exchange of 100 KBC to one gram of gold turned out to be worth less than the bag. The would-be entrepreneur Seiz and his companion Josip Heit, who had no less ambitions to revolutionize the financial world, had in the several months before event day, “forgot” to note that the coin exchange rate is limited and each can only receive one gram of cash gold per day. With 10,000 coins, it would take you 100 days to exchange them into 100 cash gold bars of one gram each. Whoops, a big thing to forget, don’t you think guys?
Instead, the event participants were given the “Gold Savings Plan” (from 5:00> https://youtu.be/aST5h965geM), a savings plan for a “better tomorrow” and “for children”. On the Karatbit Exchange, KaratGold coins could be exchanged for a cryptocurrency called ‘Bonus Univals’, or BUNV for short. For 100 KBC coins, investors would receive 10 BUNV, which equals one gram of CashGold. The Vault Savings Plan, divided into five categories, plans to provide 4% BUNV on 100 saved BUNV, at its lowest denomination. In practical terms, this means that one would need 1,000 KBC to get to the usable 100 BUNV, otherwise you leave empty. The big event promise to exchange 100 KBC in one gram of physical gold was just cheap talk, an utter scam no likes of those of Bernie Madoff. The BUNVs can, as explained above, either be saved or theoretically pay out. The KBC white paper states on page seven, “With the KaratGold Coin and the KaratGold Ecosystem, everybody can pay for goods and services anywhere and anytime.” Mind you, only theoretically, because the practical application of CashGold does not exist. At about 70,000 Karatbars networkers, known as “Affiliates”, no one has yet to managed to pay with CashGold for a car let alone a pack of gum in the supermarket. The Karatbars Proof of Concept actually fails before it starts because of this simple practical feasibility. Remember the laws of supply and demand, the price of an item is only worth what someone else will pay for it. Since these CashGold metrics aren’t accepted for a stick of gum, the value of nothing is nothing.
Any Karatbars affiliate wishing to convert the KBC to USD on an exchange will only get $0.064882 today (July 8, 2019), one year after the non-existent bank was promoted in Florida. For comparison, the KBC price for the ICO launch in February 2018 was $0.05. As of July 7, 2019, it was only $0.05; The KBC Coin has experienced no increase in value in more than a year and a half after the ICO. Investors expect to make a profit when the currency later rises in price after an ICO and then their shares are worth more than at the time of purchase. However, this is clearly not the case with Karatbars.
But why the whole staged event? Instead of investing in KBC Coins, why not buy CashGold right away? By going this route, one would not have to follow the cumbersome direction to change the KBC Coin in BUNV on the Karatbit Exchange, which still does not achieve any physical cash gold. Not to mention that you cannot pay with the CashGold notes in practice. Even if there were acceptance points, why pay with a coin that guarantees a supposed annual increase in value? Even from this purely financial-economic point of view, the whole Karatbars concept makes no sense.
Anyone who believes that CashGold is recognized as a global payment system also believes in the nonexistent gold mines in Madagascar. (We previously reported> https://investreport.home.blog/the-case-of-karatbars-the-biggest-gold-pyrmid-scheme-of-all-times/
The Karatbars fraud system is laid out in such a way to confuse Affiliates, but not inscrutable for professionals. Seiz falsifies his mines to his heart’s content and unabashed – and nobody checks. Until the mine assessment report turns out to be a total copy (As we previously reported> https://investreport.home.blog/2019/06/28/karatbars-scam- fraud warning /). There is no gold producing mine anywhere in the world or a licensed KaratCoin bank in Florida. The KBC and KCB Coin are worth nothing and valued at nothing more than Mr. Seiz and Mr. Heit’s imagination.
Today, after the KBC crash and the complete loss of image, reputation and shameless deception of the Gold Independence Day, the crash of the gold rush system is unstoppable. The tax fraud consequence is huge as any financial dummy would know. But this consequence in full is not yet known. We will leave this to the US and German authorities for further scrutiny. As far as adverse publicity, this opens a wide field that is just beginning to bloom. Harald Seiz, Josip Heit, Alex Bodi, Ovidiu Toma, and Co. can still run with the illegal investigation for a long time. With foreign people to inflate legal tender quickly, that’s not very difficult. What sounds like a coup from a Hollywood comic strip is just a sophisticated fraud system that artificially boosts the value of actually worthless KBC and KCB coins. Seiz and Heit, who like to think of themselves as enfant terrible in the traditional financial world, as provocateurs who want to turn global finance upside down, are nothing more than greedy cheaters who approve of public luxury at the expense of others. The KBC will never replace any countries currency just simply because governments never let themselves to spend these types of currencies. Monetary policy lies in the power of federal governments. You would think that Dr. hon. Harald Seiz would know this.
The primary value of a blockchain is the trustless exchange of values. The KBC or KCB Coin is a long way from this principle. The SEC has neither verified the existence and ownership of the alleged gold mines nor audited their production and value. The auditor of the valuation papers is a simple accountant, who has plagiarized from the publication of Mrs. Svetlana Baurens blatantly 1: 1 and declared the mines, which belong to a Chilean company, as Karatbars mines. Everything is used to pay off investors’ money. Therefore, we can only advise anyone to contact their respective regulatory authority in their country: the SEC in the US, the CSA in Canada, the Financial Sector Conduct Authority in South Africa, FI in Sweden, BaFin in Germany, etc. in Liaison with the respective Criminal Police Office. Josip Heit, Chairman of Karatbars, as well as the CEO of Gold Standard Banking Corporation AG, missed every trace despite announcing the most important event of the year.
There was a video message from Heit published on YouTube four days after the disaster event (https://www.youtube.com/watch?v=i2NthOykI_8). In a ridiculous attempt to stage the video message in press style, Heit spoke into the microphone in a broken and incomprehensible English … except that the microphone was not plugged in at all. To decorate the video image a little more, put a video camera from about 30 cm proximity to the table, although from this distance could only pick up the pinstripe and the inserted white cloth on Heit’s suit. In the camera display, you can see some still image but by no means a recording of the video message. As always, the criminals Josip Heit and Harald Seiz try to deceive and lie, it fits into the scheme. From the third video minute, Heit tries to accuse the Karatbar community that they simply did not understand how to acquire the gold at the event. In a condescending, arrogant way, Heit hacks half-baked sentences that make no sense. After the video, it’s even less clear how KBC coins are underwritten by gold or why they should be accepted worldwide. Indignant viewers commented that the video is difficult to understand not only because of the language, but that Karatbar’s job is to prove the trust through facts. That was too much to ask, and so Karatbars deleted on its YouTube channel all user comments and disabled the whole comment function the following day.
How the Karatbars Ponzi system will go out is well known. Peng! Karatbars is a pyramid scheme that keeps itself through new investors. Karatbars, nor the GSC have no gold-producing mines and therefore the KBC and the KCB have no value. One could certify the Coins are at most play money.
In the network marketing industry, a new million-dollar investment fraud is emerging. Harald Seiz and Co. sell tons of coins with invented value and false profit. The money of the cheated investors flows into luxury cars, real estate, extravagant lifestyle and offshore accounts. Thousands of Karatbars affiliates are worried about their money. The US Securities and Exchange Commission and other relevant authorities are on the track of the millions of frauds, it is their job to center around crooks of the likes of Harald Seiz and Josip Heit. Fraud, greed and reckless enrichment – that’s what most people think when they hear “Karatbars” or “Harald Konstantin Seiz.”