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Cash4Crap: Japan Sewage Yields more Gold than Top Mines. Cash4Gold is Crap

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February 03, 2009 – Comments (5)

This is the #2 viewed story on Reuters. I am not sure what this says about people. They like crappy stories or gold? I hope this creates a mania and a new bubble, of people panicking into buying crap. Might be time to get the Asian persuasion and put them in diapers.  

This might create a great OTC or pink sheet. Crappy Conversion CRAP.OB. Or Black Gold – ROFL.OB

Japan sewage yields more gold than top mines

Fri Jan 30, 2009 8:21am EST

http://www.reuters.com/article/newsOne/idUST8310320090130?rpc=64 

TOKYO, Jan 30 (Reuters) -

Resource-poor Japan just discovered a new source of mineral wealth -- sewage. A sewage treatment facility in central Japan has recorded a higher gold yield from sludge than can be found at some of the world's best mines.

An official in Nagano prefecture, northwest of Tokyo, said the high percentage of gold found at the Suwa facility was probably due to the large number of precision equipment manufacturers in the vicinity that use the yellow metal.

The facility recently recorded finding 1,890 grammes of gold per tonne of ash from incinerated sludge. That is a far higher gold content than Japan's Hishikari Mine, one of the world's top gold mines, owned by Sumitomo Metal Mining Co Ltd (5713.T), which contains 20-40 grammes of the precious metal per tonne of ore. The prefecture is so far due to receive 5 million yen ($55,810) for the gold, minus expenses. 

It expects to earn about 15 million yen for the fiscal year to the end of March from the gold it has retrieved from the ashes of incinerated sludge.

THE REST IS Here:

http://www.reuters.com/article/newsOne/idUST8310320090130?rpc=64

Speaking of Crap and OTC, Tastylunch planted this "nugget" on my blog

I guess Ed McMann is morally and fiscally bankrupt? j/k

The Consumerist has this post on Cash4Gold.I cannot speak on the validity, but the consumerist posts their names on the blogs, so I guess they are not afraid of getting sued.

10 Confessions of A Cash4Gold Employee

By Ben Popken, 11:51 AM on Mon Feb 2 2009,

83,746 views

From the acid-cloud haze of the Cash4Gold processing center steps forth a shadowy figure, fingers stained with orange testing fluid. It's an ex-Cash4Gold employee and in-between tuberculosic wheezes he manages to pass you a yellow legal paid with 10 confessions about how his former employer taught him to rip people off.

Then he evaporates leaving behind a pile of gold dust. You dip your finger in it and touch it to your tongue. Just as you thought: fool's gold. If you decide to investigate the creaky clock tower, turn to page 4.If you decide to read the confessions, to the post inside. Spotted on ComplaintsBoard: "I would like an article to be posted pertaining to the refinery Cash 4 Gold, located in Pompano Beach, Fl.

I am a former employee, who would like to alert/warn the public on the scamming process involved with this company. There are many of us who would like to vouch on behalf of this fast growing scam. We would like to get the word out to everyone on this step by step scam which involves so many people in this country and their valuables. 

Below I have attached the full details on the scam involving this company. We know this first hand, because this is how we were trained. Please take note of this information and do what you can to get the word out there, especially in a time when the economy has truly affected everyone for the worst. Thank you! I am a former employee of Cash 4 Gold. I did not know much about the company before being hired. On my first day of being hired, I was taught the "Cash 4 Gold Scam" from beginning to end. 

1. The "refiner's pack" that is used for you to put your jewelry is "insured for UP TO 100 dollars, " according to how much they determine from a description from you, the worth of your items to be, NOT an actual fully researched appraisal.

2. We receive your "Refiner's Pack" within 3-4 days, BUT we are instructed to tell you that it takes "7-10 business days, for us to receive your pack, ALTHOUGH many times, your package has already arrived.(All cash4gold customers who have called customer service to track a package can vouch for this)

3. Your jewelry gets appraised by hand, a magnifying glass, a plastic container, a small weight pad, and a bottle of ORANGISH fluid, which your items are then determined a value for. Not million dollar equipment or specially trained jewelry experts. The company was temporarily closed recently due to health and code violations. I have witness testers being transported to Medical Centers, due to the testing department environment. There is literally a cloud of smoke in the air from acid and other testing material. If you were thinking it was some state-of-the-art testing facility, you thought WRONG. 

4. Although the payment (check) for your item is dated within 24 hrs of testing your jewelry, we SOMETIMES DO NOT actually send out the check until up to 3-4 days later. (if you are a customer check the date the check was issued against the stamped date on the envelope.)

 5. We do offer a 100% Satisfaction Guarantee or your jewelry returned, BUT THE CATCH IS, that the guarantee is to contact us within 10 DAYS from when your check is DATED. (This begins with the time it took for the accounts payables dept. to ISSUE the check and also including the TRANSIT TIME for you to receive your check in the mail. **** NOTATE THE COMMERCIALS THAT INSINUATE THAT YOU GET YOUR CASH IN 24 HRS.*** If you request (sign) for FAST CASH (direct deposit) you automatically WAIVE your rights to have your items returned, EVEN if you are not satisfied with amount of your deposit.

6. You generally receive your check around the "7th-10th" business day, AND majority of the time Customers are outraged when they lay eyes on the amount of their check. Some Customer's even receive a check for 0.01 cents.

7. There have been times when we have received your package and MISPLACED or LOST it at the facility. We CLAIM to not have received the items and even try to convince you that it was lost in the hands of USPS. At which point we begin an insurance claim process on your package. We ask you to send us an itemized list of the content of the package, trying to be as descriptive as you possible can (if you can remember everything in full detail) and a copy of your state issud ID.

We then issue an INSURANCE CLAIM for UP TO 100 dollars. GOD FORBID your items are worth more then a 100 dollars. If you call customer service to check on the status of your shipment, and we actually have not received your package, we inform you of the insurance claim process. For those who know that their items are worth more than a hundred dollars, they become very upset and threaten to take action against the company, at that point we inform the customer that if they knew their items were worth more they should have added additional insurance at the Post Office. BUT unless you are paying to ship your items in a completely different package other then the refiner's kit, you are unable to add insurance to the package.

8. For those who do get in touch with us within the allotted time frame, we already know what you are calling about. Customers want their items returned, because there check amount is so insultingly LOW. The first thing a Rep will ask you is "HOW MUCH WERE YOU EXPECTING TO GET BACK?" This way we can know how much to "BONUS" you.

The rest is here:

http://consumerist.com/5144296/10-confessions-of-a-cash4gold-employee

5 Comments – Post Your Own

#1) On February 03, 2009 at 10:08 PM, Tastylunch (29.38) wrote:

WOW

just wow.

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#2) On February 03, 2009 at 10:10 PM, Tastylunch (29.38) wrote:

of interest btw cash4gold.com

http://clusterstock.alleyinsider.com/2009/2/cash4gold-ceo-bad-economy-means-more-high-end-gold

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#3) On February 03, 2009 at 10:13 PM, XMFSinchiruna (27.53) wrote:

Wow... very entertaining post, abit!

First thought... we're entrepreneurial Fools, right?  Let's start a busniess together using your name above, where we send envelopes out to everyone in America to stuff their stool in, so we can melt it down and extract the gold. Maybe you can handle the processing center, abit, and I'll take care of corporate headquarters. :)

On cash4gold... HOPEFULLY no Fool would ever have been fool enough to use such an OBVIOUS scam. Responding to that ad is akin to responding to one of those e-mails asking fo rtransfer millions into your account for some unclaimed estate from an obscure mountain tribe in Africa. Then again, sadly, not every demographic is as swift as Fools, and obviously tons of people are falling victim to the scam or they would never have been able to afford a superbowl ad. Sad statement of the times. I can see how you would take the next step and presume that indicates excessive popular demand for gold that can only result in a monstrous near-term correction, but I think this time you may be very surprised at how quickly a resumption of the dollar's decline can erase such a factor from the equation.

Thanks for posting this though... I always enjoy your posts.

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#4) On February 04, 2009 at 10:01 AM, FoolishChemist (96.93) wrote:

Hehe, now I know what to put in that envelope.  If I'm lucky they'll lose it and I'll get $100!  Although I think there are some postal regulations I might be in violation of.

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#5) On February 04, 2009 at 8:16 PM, abitare (45.20) wrote:

Maybe we can see if Cash4gold will pay for Japanesse crap.

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