What the Heck are “Scandinavian Income Certificates?”

By Travis Johnson, Stock Gumshoe, June 15, 2010

This ad from Jim Nelson for his Lifetime Income Report caught my eye, in part because most of my ancestors came here from Sweden a few generations back to farm the upper Midwest and, apparently, strike stern poses for photographers.

Today, though, the “Scandinavian Income” we’re being teased about is from the really wealthy part of Scandinavia: Norway, with it’s North Sea oil wealth and huge national investment fund. And Nelson implies that there’s some way for us investors to get a taste of that oil wealth through these so-called “Scandinavian Income Certificates” … a mysterious investment that he’ll uncover for you … just as soon as you subscribe to his newsletter.

Or, of course, you can come along for the ride here, gratis, and see if we can’t figure out what on earth he’s talking about.

The tease has a good taste of the scare-mongering (not that it’s not true, at least partly) about Social Security and the lack of actual security in those future promises …

“Legally Collect Thousands of Dollars Each Year… From the Other Government-Backed Retirement Program

“Starting September 30 this year, America’s Social Security ‘safety net’ will officially shrink…

“So why not let this other government-backed ‘pension program’ pay you thousands of dollars each year instead?

“It’s official…

“Even though you’ve paid into Social Security all of your working life… and even though they promised to pay you back… you can no longer count on getting what you’re owed.”

And the predictions get more dire, including this quote:

“Take a look at this from the New York Times: ‘This year, the [Social Security] system will pay out more benefits than it receives… accumulated revenue will slowly start to shrink, as outlays start to exceed revenue… [and] by law, Social Security cannot pay out more than its balance in any given year.'”

That NY Times article, by the way, is here — just in case you don’t want the full-on fearmongering. The subtle implication from that paragraph excerpted above is that Social Security will stop cutting checks later this year when outflows exceed inflows, but of course that’s not true … they are legally required to cut benefits or stop payments when the so-called “Trust Fund” is exhausted, but that won’t be for another 25-30 years (coincidentally, the latest projection has that date hitting in the same year that I’m eligible for full retirement benefits).

Of course, the “Trust Fund” is just a pile of IOUs from the government, since we’ve been borrowing that money to pay the bills and run our wars and make more promises. Still, as long as they’ve got those IOUs the bean-counters predict that the system still “works”, though with depleting “assets,” until 2037.

But that’s neither here nor there — we know that Social Security is in trouble, though it’s far less troubling than Medicare. And I don’t want to spill the beans before I’ve dug into this one all the way, but I’ll bet you that these “Scandinavian Income Certificates” have nothing whatsoever to do with government pensions or social security. Let’s find out, shall we?

Here are some of the clues about these “certificates:”

“The ‘Other’ Pool of Government-Backed Retirement Cash Nobody Told You About

“How about letting a different government-backed ‘pension’ float you thousands of dollars in extra income instead — one that has no connection with the Social Security Administration whatsoever?

“In fact, unlike Social Security or even Medicare, this is a ‘program’ no D.C. bureaucrat can touch, cancel, or pillage. Yet, it remains a second source of government-backed cash.

“And by the way, a source most Americans know nothing about. Even though many retirees have legally collected from this source since 1972!

“If you’re just hearing about this for the first time, I’m not surprised.

“It’s not something anybody in Washington would have told you about. I doubt you’ve ever gotten a letter announcing it. And you can’t collect unless you know about it.

“But even if you’re late to the party, you could still collect thousands of dollars. And it only takes about five to ten minutes to get this set up to collect.

“By the way, you don’t need to be retired.”

And yes, like all good copywriters who make up terms the tease is peppered with quotation marks — which you can usually read as “not really” … as in, it’s not really a “pension”; it’s not really a “program.”

And as we can gather from the “Scandinavian” part, this has nothing to do with the US government:

“You see, the reason those weasels in Congress can’t take away this second stream of benefits… and the reason they can’t steal from this retirement cash pool either…

“Is because even though this alternate ‘pension’ is decisively government-backed… it’s NOT the misdirected, muddling, money-wasting American government that’s backing it!”

And these aren’t, apparently complicated investments or “certificates” … here’s more:

“You don’t have to do anything special to make this work.

“Just holding these ‘Scandinavian Income Certificates’ entitles you to collect what could add up to several thousand dollars in extra income every year, for as many years as you’d like.”

And then we get into a bit more explanation of what’s backing these “certificates” — Norwegian oil wealth. Nelson talks about the discovery of oil in the North Sea in 1969, and the fact that Norway is now the world’s third largest oil exporter. I don’t know if that’s true — the latest numbers I’ve seen were from 2008 and Norway was number 6, which is still impressive … Kuwait, the UAE, Norway and Iran each export roughly the same amount of oil, so those rankings can fluctuate, though no one else comes close to touching Saudi Arabia and Russia for exporting or production levels. (Except for the US, which produces almost as much as Russia … but of course, we consume it all and more and effectively export nothing.)

And this is a timely ad, as you might imagine — urging this “investment” of whatever kind even though offshore oil is a four-letter word right now:

“Yes, I know what you’re thinking… all these fields are under the cold, black North Sea.

“And right now, for obvious reasons, all eyes are on BP’s big blunder in the Gulf. Does that mean our world can really give up on the huge deepwater oil deposits? Not on your life. Like it or lump it, we desperately need the oil that’s out there. We only need to get to it more safely, am I right?

“Which is why, with over four decades of tapping the rich Norwegian offshore fields, nobody’s gotten better at doing this right than the engineers who have already transformed the Norwegian economy with all that North Sea oil. That’s a fact you’ll hear repeated the world over.

“What BP can’t seem to do, the Norwegians have done with distinction.

“And with extremely impressive results.

“Just one of those big Norwegian fields — the Statfjord deposit — has already been cranking out two million Norwegian kroner’s worth of oil every minute — that’s US$360,388 every 60 seconds — for the last 25 years.”

And apparently, the income from these “certificates” somehow comes from this fund, eh? That’s a little odd, but this is how he puts it in the ad:

“Instead of blowing their oil bonanza (like the British) or divvying it up among government elite (like the Saudis) the Norwegians set up what they called their national ‘Petroleum Fund.’

“Nearly half-a-trillion dollars have poured into this fund so far.

“It’s earmarked for Norway first, doling out huge retirement benefits, free medical care, and free education — all paid for with oil profits. Plus, it’s the money they used to carry them through the last financial crisis… almost without a scratch.

“And it’s this same huge fund I can show you how to tap, without breaking a single law, and with the full approval of the Norwegian government… using the ‘Scandinavian Income Certificates’ we talked about.”

“…what I’m saying is that not only is Norway cash rich… but that there’s now a way you can tap into this same growing pool of government-backed money.

And, you’ll see, they actually want you to do it. As long as you do it using the ‘Scandinavian Income Certificates’ ….

OK … so, we’re going to need some more specifics to crack this one open. How about this bit:

“… already Norway has started to trade their decades of deepwater oil expertise for shares in other gigantic offshore projects all around the world, from the Gulf of Mexico to the Far East and elsewhere.

“But now they’re trading their huge cash position for another advantage too.

“See, by promising to pay a steady stream of future income to ‘Scandinavian Income Certificate’ holders, Norway gets to leverage their already big money stockpile… into an even bigger pile of cash they can use right now to invest in more energy exploration and discovery.

“It’s their way of guaranteeing even more surplus money in the years ahead.

“Norway knows the easy oil and gas assets in the North Sea won’t last forever. So they’re perfecting new ways to draw more out of what they’ve got… and to find new resources to tap….

“What’s already a very big income opportunity is about to get even bigger…”

So what on earth is Jim Nelson talking about with these “Scandinavian Income Certificates?” Well, I hope you won’t be disappointed to learn this, but I’m pretty sure these “certificates” are …

Shares of Statoil (STO)

Statoil is the state oil company of Norway, it was founded in 1972, though for 20 years or so it was completely government owned and controlled entity and you couldn’t invest in it or profit from it — it became a publicly traded company in 2001, and merged with giant Norsk Hydro in 2006 (it briefly changed names to StatoilHydro, but is now back to plain old Statoil).

It is the biggest company, by some measures, in Scandinavia, and among the 50 biggest companies in the world — it’s also been known as the world’s biggest offshore oil company, though I don’t know if that’s still true, there are a dozen or so oil companies that are bigger, but I don’t think any of them have quite the offshore focus that Statoil does.

And oh, yes — they do pay a nice dividend, which is a major way that they create income for their largest shareholder … which is still the Norwegian state, the government petro fund currently owns 67% of the company. As you may know or can probably tell from the ticker, Statoil does have US-listed shares, you don’t have to trade on the pink sheets to get in bed with the Norwegian government, and they trade with plenty of volume for most folks. STO trades at a pretty average forward PE for a major oil company, roughly 8 times earnings (you can slot it in right between ExxonMobil and Chevron), and the current dividend is about 3.7% … so it will provide some nice income, especially if you reinvest those dividends and expect their income and dividend to grow in the years to come — the dividend is annual and variable and it has already been paid for this year, so don’t rush to get in just for the dividend.

Their dividend history is here if you’re curious — and yes, Norway has a dividend withholding tax that’s similar to Canada’s, so the cash dividend will reflect that, though you may be able to get credit for paying this foreign tax when you do your returns.

The shares have been pretty volatile for an oil major — they tend to follow the same curve as big stocks like XOM or CVX, but often with more amplitude as oil prices and economic expectations send the oil group up or down. It’s also worth noting that Statoil reports in Kroner, and many folks have rushed to the Norwegian Krone as a safe haven during the various currency and debt panics … though to be honest, for US investors the impact should be somewhat minimal, this is an oil company so they likely still sell almost all of their oil in dollars, then convert it to Krone to report, then we convert it back to dollars when we look at the numbers or cash the dividend checks, so to some extent it works itself out in the wash. Put simply, Statoil is an oil play, not a Norway play.

I’m somewhat fond of Statoil, personally — I’ve owned it in the past, though that was many years ago and I currently have nothing invested in the shares. I used to hold a little bundle of state-controlled oil companies because I thought they were undervalued when oil was starting its run in the early part of this decade, including Statoil and Petrobras, though both are much more well-known and valued competitively with other global titans now. Statoil has been extending its reach around the world, using the expertise they developed in the North Sea to work offshore in many other fields, though few environments are as harsh as Statoil’s home turf. And my overall sense is that oil companies in general are too cheap now — I wouldn’t buy BP, but I can see a case to be made for most of the oil majors as the developing world wakes up to the joys of the automobile and the rest of us probably will spend several more decades relying primarily on oil for transportation.

So that’s what I think: Scandinavian Income Certificates are shares of Statoil — does that get you all excited? Or have you bigger fish to fry? (Or smoke, since we’re talking Norway… mmm, salmon). Let us know what you’re thinking with a comment below.

And if you’ve ever subscribed to Jim Nelson’s Lifetime Income Report, please click here to let your fellow investors know what you thought with a brief review. We’ve had only a few reviews submitted so far, but you can see them here if you’re interested.


Related Gumshoe Articles

Leave a Reply

46 Comments on "What the Heck are “Scandinavian Income Certificates?”"

avatar

Charlie
Guest
0
Charlie
June 15, 2010 7:15 pm
Statoil is running out of reserves faster than they originally calculated and they have no current plays to acquire more oil. That said, they provide Canada with oil and have a large reserve to start with. The dividend is substantial if you can catch them while the price is down (it currently is), but one should wait until about a month or two prior to the ex-date before playing them. Since that has come and gone for the year, they are no longer on my radar for the balance of 2010. Royal Dutch Shell is a better oil play, especially… Read more »
tom
Guest
0
tom
June 16, 2010 9:23 am
the mighty thinkolator does it again. I have the Lifetime Income Report as part of a 'complete package' deal at Agora. The Lifetime Income Report is one of those which I have little use for,as it focuses on the giant standard elephants as an investment portfolio. So if you think you will have a safe and hearty asset portfolio from here to kingdom come by owning companies like ,(this representative sample as examples) proctor and gamble,Kraft,J+J,wally mart,what else, not saying these are in the portfolio,but you get the idea, and yes,now STO, which I do like as an oiler to… Read more »
Ben
Guest
0
Ben
June 19, 2010 5:19 pm
Some times I find Agora a little slow off the mark…….I have been with them for 12 months or more. They send out teasers and after googling there teasers you find that other investment newsletters ran the same teaser months before hand. Does anyone think that maybe these investment newsletter companies share there information around with each other to get these stock tips moving UP ! Alot of the time they say that they dont hold shares in the particlaur company they have tipped – Yet I wonder if another newsletter company does hold shares, And then the favour gets… Read more »
Going loco
Guest
0
Going loco
June 20, 2010 4:02 am
A first for me. I guessed what it was before I got to the punchline! I owned Statoil a while back as a quick trade and made a profit. It's on my watch list for the next time the HFTs crash the index. I am a buyer if the price goes below 18, although if that does happen I'll be watching for a bottom to form before going in. Something worth noticing is that for the last 5 years STO has tracked the WTIC (oil price) very, very closely, so if you want to play oil as a commodity STO… Read more »
Derek
Guest
0
Derek
June 21, 2010 9:02 pm
I've been an Agora reader for several years now and I really enjoy The Daily Reckoning newsletter. I started getting it before the big crash in 08' and they predicted pretty perfectly. Their insights are pretty spot on. I only recently started investing in the stock market and had read all of their teasers for the last few years. So when I started investing before subscribing to any of those "special reports" I googled them and according to most of what I've found, including insights from stock gumshoe, is that they are mostly scams or don't really offer very sound… Read more »
melit
Guest
0
melit
July 6, 2010 5:00 am

What is really Scandinavian Income Certificate?
I read that such certificate originated or has something to do with Norway, as I am living in Norway, I research on it. I went to different bank offices here in Norway to inquire and to validate the truthfullness of the information. But to my surprise nobody knows or heard about it. It’s pure and simple false information. People like me can be easily fooled, because I trust people to be honest in what information they are writing. Thank you and good day

Reader #9999
Guest
0
Reader #9999
July 15, 2010 9:32 pm
I have been receiving the Agora info for a few years as well, have bought a few of their services, and I also work in the securities industry. I find their sales literature to be very misleading, and it really made me angry in the beginning, but it is what it is… marketing material designed to get you to buy something. They try and disguise mostly public info as though it is something new and 'inside' info. While they readily admit that they don't like to dupe people this way, it is the process that works best, They say it… Read more »
george
Guest
0
george
July 17, 2010 12:49 am

in Jim Nelson's letter herein he states that this is a good time to get in on the Personal Pension Pay Days which are monthly and also more frequently, he illustrates on calendars here in. These payouts, i am led to believe will be made to holders of these Scandanavian Income Certificates. i subscribed on this basis. Do you think i have been mis-led?
george
e-mail:mooreg33@yahoo.com

James Chapman
Guest
0
James Chapman
August 3, 2010 8:15 pm
I do not trust Agora. Addison Wiggins is forever coming with info that is so important that everyone should be told about it. About a year ago I signed up for Capital and Crisis because he promised to send me a huge volume containing all of the most important info which I must know about. The volume was never delivered. It was just hogwash in order to make a sale. I cancelled Capital and Crisis. So, they have my credit card info. Very recently they charged $350 to my credit card for some stock advice service which I had never… Read more »
Karen
Guest
0
Karen
August 16, 2010 9:58 pm

A couple of years ago I subscribed to a couple of their newsletters. I did o.k.-I made enough to pay for the newsletters, and then some. But when my year was up, the newsletters had been reconfigured and combined into strategies I wasn't interested in, so I didn't renew. I currently subscribe to Lifetime Income Report for a particular fund I have with that strategy. I don't buy everything recommentded, but the advice has been good. I did cancel Macro Trader after 2 weeks, when the recommended investment nose-dived. They refunded my money with no problems.

Myron Martin
Guest
0
Myron Martin
August 21, 2010 10:38 am
For those who don't know, Oxford Club, Taipan, Angel Publishing, S.A and many more are all Agora affiliates. , and they all use the same tactics, maybe ebem the same copywriters for all I know. That being said, they all have some good analysts who have made some excellent recommendations, and oh, by the way, they move around a lot from one publisher in the family to another. I give Justice Litle, Chris Mayer, Adam Lass high marks for integrity and generally good advice, but NOBODY gets it right all the time and anybody who "gives up" on a newsletter… Read more »
Myron Martin
Guest
0
Myron Martin
August 21, 2010 10:39 am
Interesting to read th various experiences of Agora subscribers, I agree they use deceptive tactice in their marketing, but so do most of them. My biggest complaint is there blatant abuse of the word "FREE" which according to the dictionary means "with no strings attached" but there always is. Lately they offered a year FREE of one of their services and it was worded to sound like the next 12 months of research, yet when you waded through half a dozen pages of pure HYPE the reality was that you could get a SECOND year free if you subscribed at… Read more »
Sl B Campbell
Guest
0
Sl B Campbell
August 24, 2010 10:43 am

Thanks for the info. I checked before buying.

cccooperagency
Guest
0
cccooperagency
August 25, 2010 3:16 pm
Thanks I decided to give them one last listen as several times a week, they are "informing" me of the sinking ship our economy is and how to make money work without working. Seems anti American and anti Biblical to quote: 2 Thessalonians 3:10, "For even when we were with you, this we commanded you, that if any would not work, neither should he eat." Notice that it doesn't say that those who CAN NOT work should not eat. No, we should have compassion on and help out those people. But if someone can work, yet WILL NOT work, then… Read more »
David
Guest
0
David
August 7, 2012 11:41 pm
You need to read the parable of the talents again. Jesus had no problem with people making their money work for them by investing it. He even had no problem with hiring people to invest your money for you. He did have a problem with a lazy money manager who failed to turn a profit because he hid the money instead of investing it. Agora in their advertising does try to make you think all their ideas are going to generate a foolproof 20% return or more without even trying, but if you look at the actual recommendations you don’t… Read more »
MARCUS
Guest
0
MARCUS
September 8, 2010 4:35 pm

THANKS FOR THE HEADS UP! I HAVENT STARTED INVESTING YET BUT THE INFORMATION YOU GUY'S AND LADIES GIVING IS HELPFUL

Melanie
Guest
0
Melanie
September 10, 2010 2:26 am

Yay, ccccooperagency….I am really so tired of hearing about how we need to help others who CHOOSE not to work. I see corners all around Houston TX where I live with grown men hanging out during the work day [way too many to assume they are working a different shift]…mostly Hispanic men [not boys mind you] and since Katrina and all the folks sent here in its aftermath

David
Guest
0
David
August 7, 2012 11:24 pm
“I see corners all around Houston TX where I live with grown men hanging out during the work day…mostly Hispanic men” Those men are probably looking for day work, not being lazy and deliberately idle as you assume in your ignorance. The next time you see such men, take notice of the stores they’re choosing to “hang out” in front of. They’re probably home improvement stores like Home Depot, Lowes, and Lumber Liquidators. They’re there because that’s where people buy do-it-yourself supplies, and they’re hoping that someone will come along who doesn’t want to do it themselves and will hire… Read more »
Melanie
Guest
0
Melanie
September 10, 2010 2:31 am

Whoooo…got carried away there, my point is that we have ALL been looking for a way to get something for nothing and scams encourage that belief that we can. We can't. Or shouldn't.

Work is what works. Let's get to work, not searching out the right scam. Let's set an example so the next generations won't be hanging out on street corners.

Ken P.
Guest
0
Ken P.
September 10, 2010 12:23 pm
I agree with you, except I think you should not make assumptions about people because they are "hanging out during a normal workday." Not everyone works 9 to 5. These could be doctors who work night and evening shifts at a local hospital. Maybe they are waiters or waitresses. Hopefully, you don't look down on the waitress who serves you dinner after your hard day at work because she was "hanging out during a normal workday." I'm a person of color and I have worked hard and saved and invested enough money that I can afford to hangout all day… Read more »
don hanley
Guest
0
don hanley
September 14, 2010 9:30 am

This "scandinavian income certificate" puff piece is even more tendentious than the rest of what the Agora crowd put out. I now send their e-Mails to the spam box.

Edwina
Guest
0
Edwina
September 30, 2010 12:19 pm
Just so confused! Not trying to make something for nothing or not work. In fact, I've spent, and lost, many dollars trying to find the best advice and also spent many dollars trying to get a legit job editing from home since I have several "minor" disabilities, have been a caregiver for a number of people since 1996 and am now fostering our 1-year-old grandson. I am 66 years old and my sweet hubby is 68 — he went into forced retirement last year, then back to work for the past few months. He makes good money but is just… Read more »
Carol
Guest
0
Carol
October 8, 2010 4:16 pm

Reading Stock Gumshoe's dissection of "Scandinavian Income Certificates" was so refreshing. I have emailed and called Agora trying to get some explanations without success. It is a wake up call to read everyone's take on this issue. Bottom line: Agora is a scamming organization. Think I'll stick with good ole Morningstar!

Carol

Myron Martin
Guest
0
Myron Martin
December 3, 2010 7:17 pm
It is easy to blame a whole organization for the sins of a few, or even good analysts for mistakes in investing that are actually PERSONAL in nature. I have a number of "beefs" with Agora myself, but being a Lifetime Reserve member they have on balance made me quite a lot of money by my picking and choosing from their many publications after doing my own due diligence. In respect to Norway and investing in Statoil, I may just have a better idea given that their currency the krone is one of the strongest in the world and the… Read more »
Fabian
Guest
0
Fabian
December 3, 2010 7:20 pm

TOT is down because USD went down. If you invest in another currency, even NOK, you take currency risk. Here I don't agree with our dear Thinkolator about the fact that NOK is not important because they sell oil; they make USD when they sell oil but their expenses (salaries, depreciation, etc.) are in NOK.

Paul R
Guest
0
Paul R
December 4, 2010 8:06 pm
I have been an Agora reader now of several of their newsletters for about 3 years now. In the beginning I was frustrated because I had just signed up for one (Outstanding INvestments) and I kept getting all the sales pitches for more newletters. I naively thought that OI was their only newsletters and that I would be getting all their advice included. Well, thats how new I was to investing. But I have been successful using some of their advice. I do pick and choose which ones make sense to me. But overall,it was really a great education for… Read more »
Diana
Guest
0
Diana
March 22, 2011 3:25 pm

Hi,,I am contacting some of the guys above who have their emails listed to see about getting more information about Agora financial…and their referrals for stocks..etc..thanks Diana

DALE
Guest
0
DALE
March 26, 2011 10:44 am
Agora is by comparison to Oxford club a sweetheart. I subscribed to Oxford club a couple of months back, and before I received a single advisory document, , I added their ACTivist Trader to my folly, complaining about the lack of a single Ocford club promise as I ordered. The respondse by the VIP section responder is that the Oxford club documents for the basic documents take several days by mail. In the meantime, I received by E-mail two seperate solicitations for the Activist Trader. I Cancelled both the Oxford Club and The Activist Trader, and am waitint to see… Read more »
Buddy
Guest
0
Buddy
October 3, 2011 9:46 pm
For general information, I have worked for others only a small part of my life. Now, at 85 years of age, I have the satisfaction of establishing 4 small companies. However, I am only involved in the last one which, at this time, is happily helping to pay for some of my living expenses. You may want to consider what you can start. As you may know, Colonel Saunders was in his sixties when he started KFC. Also, I started my most recent enterprise about 20 years ago (mid sixties), so there’s more opportunity working for the world’s best boss… Read more »
jeddyb
Guest
0
jeddyb
October 11, 2011 4:25 pm

agora is a scam-do not invest-those scndinavian income certificates are worthless-all talk and no substance-don’t be misled-you will lose your money-all empty promises-don’t trust these scammers-keep your hard earned cash-talk is cheap-REmEmBER THOSE WHO RECCOmEND THEm ARE PART OF THE SCAm-AGORA-OXFORD CLUB-THEY HAVE mANY NAmES BUT ALL WANT YOUR mONEY-DON’T BE FOOLED!!!!!!!!!!!!!!!!!!

Aditya Singh
Guest
0
October 12, 2011 6:39 am

cooooooment-i am very impres for u.
It is my first time coment for u.

Ashish kumar ranjan
Guest
0
December 7, 2011 1:39 am

I am student.Class-11

CincinnatiMike
Guest
0
CincinnatiMike
February 3, 2012 5:39 am

A lot of good thinkng here. And some good replies. Thanks.

vinegar and honey
Guest
0
January 15, 2013 11:38 am

are there any really income certicates or fund thru other countries than USA Multiplbe streams of income would be nice especially if they are from different buckets.

otradovec
Irregular
1
otradovec
October 29, 2015 8:54 pm

What is Jeff Clark at S & A Research trying to promote lately with what he calls Scalp trades part of the short report. He”s just trying to make a few bucks for his boss who sitting on a mountain in Argentina writing more investment letters.

Terry
Guest
0
Terry
June 18, 2010 10:58 pm
I've been an Agora reader for 5 years, yet never put a toe into anything they have recommended. These ads are why I don't trust them. I like what I read from Byron King, and somewhat from Chris Mayer. I am wary of the biotech info as well. I just thought I'd comment to you because I would really like to be able to separate wheat from chaff with Agora. I've even considered going to Vancouver next month for their conference, just to see what I can discern as legitimate. Any ideas or further comments on Agora? Thanks, Terry (terwamos@gmail.com)
Thor Rovira
Guest
0
September 15, 2010 3:38 am

I know you are from norway so can you tell me where this SCANDINAVIAN INCOME CERTIFICATES COME FROM? PLEASE IF YOU SOMETHING could you tell me? my email is tpmvancan@hotmail.com I wil really aprecciate if you know something thanks.

Gravity Switch
Admin
11
September 15, 2010 9:11 am

Thor, just read the above article — the "certificates" came from the mind of Agora copywriters. The actual investment is Norwegian, but it's just the big Norwegian state-controlled company Statoil, which does pay a decent dividend (thus the "income certificate").

Chris Soderstrom
Guest
0
Chris Soderstrom
September 23, 2010 11:26 am
Agora has been in business selling financial reports for the last40+ years. They are a very successful marketing company but nothing more. As my mother said to me many years ago when I was buying some stock info: "If these people are so smart about stocks why do they need to write newsletters and market them with all these superlatives? They should be so rich that they are retired on the French Riviera." Of course mother was right. I have spent mucho pesos on stock reports and they are right about half the time. The other half the time they… Read more »
thor rovira
Guest
0
thor rovira
September 26, 2010 2:10 am

thanks, but I still wonder if these “scandinavian income certificates” really exists or just is a scam.

DrTravel
Guest
0
DrTravel
October 19, 2010 11:17 am

"Scandanavian income certificates" are STO, a Norwegian oil company stock. They are not a scam. They are just a new name cleverly given by the newsletter for a foreign stock to get you interested.

Dr Travel
Guest
0
Dr Travel
October 19, 2010 11:23 am

well gee George..if you buy STO stock (aka Scandanavian Income Certificates) you apparently will get dividends. Now I reckon if the dividends don't pay twice a month then perhaps you have been misled. I fail to see being misled (more like clever marketing) …it was clear to me listening to the "come on" and "checking this site" (as my due diligence) exactly what was being alluded to. Buy STO stock,..get dividends.

MatthewT
Guest
0
MatthewT
November 5, 2010 10:16 am

The only challenge I'm having is in the documentation provided in the "sales presentation" it was directly stated that payments occur every two weeks, either by check or direct deposit. That's different than the annual dividen payment made by StatOil. So on this one "sticking point" I'm a bit confused…

Either a) it is a direct lie made in the presentation (an actual crime that can be prosecuted by the FTC)

or b) there is another investment to which they are referring.

Am I missing a "letter c)" here?

Dean
Guest
0
Dean
November 8, 2010 2:06 pm
I subscribed at Agora's highest level, giving me access to all of it's services for about a half year. As to be expected, some were better than others, and there were some winning recommendations. But overall, I ended up losing money on every one of them. The WOW service with Adam Lass was the worst. Had I done exactly opposite of what that service recommended, I would've made quite a bit of money. They have since discounted the price of most of their services and changed the names of several others… which means they must be having a hard time… Read more »
Gravity Switch
Admin
11
December 3, 2010 10:02 pm
Good point, though it's also important to remember that Statoil is becoming less and less of a Norway/North sea company — about half of their resources are now overseas including big positions in the Gulf of Mexico and in deepwater projects around the world, as well as in places like the Marcellus Shale. More like 2/3 or so of their current production comes from Norwegian waters, I think, but a lot of those expenses are probably also in dollars (if they contract a rig, for example, those are almost all bid in dollars). Still, you're right that there is an… Read more »
Alex
Guest
0
Alex
August 24, 2012 9:24 am

I may be wrong , but i have a friend from Norway and he once told me that The Norwegan
government uses oil profits to pay into a retirement fund for citizens which ammounts to a lot of money .

wpDiscuz