Tuesday, February 07, 2006

New! New! 100DailyPro!!

If that headline got your attention, please watch out!

Paid autosurf and investment programs are very popular, right now, and people are joining them in droves. They promise to pay 1% and up, daily to yearly, on the money you put in.

I'm sure you're familiar with them! I am quite positive that most of these programs are no more than PONZI schemes that are only able to pay their members as long as their paid membership keeps growing. I am positive that anyone paying over 2% (and even quite a few paying that much) are scams and will soon disappear.

I have a links file for any company paying 12%+ that I regularly check (and do not join). So far the file isn't very thick, as the sites keep disappearing! Furthermore, as happened with similar sites in the past, the competition even among the ones that may be legitimate and that may last will likely eventually kill off the rest, unless a few have wizards at the helm that are able to generate enough ad dollars to keep them going.

Be careful!! Some of these sites DO pay and run very well. (Note that this DOES NOT mean they're legitimate!) What I have found, though, is that 2% seems to be the line and anything over this becomes increasingly risky. I've joined a few to test them and have started small with all of them. And so far, any over 12% have either not paid me, yet (I'm still waiting for payment from an operating site that has promised to pay - it has been several weeks), or they gone right out of business with no warning and my money!

As I type this, one of the biggest and most successful autosurf companies is embroiled in an ongoing battle with its payment processor leaving thousands of members financially stranded while federal and state authorities investigate both companies.

When you go to join any program, ask the person who introduced you to it if they have been paid! If it offers higher than 2%, be afraid.... be VERY afraid!! Even if your friend has been paid, again, if it offers higher than 2%, be afraid.... be VERY afraid!!

One of the reasons PONZIs work is because the excitement of people getting paid causes them to grow rapidly at first generating a lot of fresh cash and therefore the early ability to pay their members. Once the market is saturated, the funds run out and a lot of members lose all their money.

Obviously when I created the title for this rant it was tongue-in-cheek, but with the absolutely ridiculous percentages some of these "companies" offer, it makes you wonder if perhaps they're on drugs or if that's what they're making their money with!

Also remember that when it comes to ponzis, being a part of a ponzi can, legally, land you in hot water even if you're not the owner. It's unlikely that you'd ever get into trouble, but IS likely you'll lose your money. It's something to think about.

.... and don't even TALK to me about HYIPs!!

God bless,

Dave

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