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This is the continuing saga of As The PSX World Turns. It came to a halt this past weekend as all functions, including the forum, were put on hold. Is it done? Not yet. I know that Jude has changed the concentration of this blog, but since I started the PSX saga, I’m going to continue the periodic soap opera episodes. My last PSX update was in July 2006 and a lot has happened since then. No payouts, but a lot happened! LOL For those of you that have kept up with PSX, you may want to skip to the next couple of paragraphs.
In October, PSX launched a new website that is very functional. They loaded accounts with all of the monthly premiums for the long months from March/April to October. They added a new plan and updated the benefits. In addition, they added the ability to benefactor people in by purchasing plans for them from your account balance. The withdrawal requests were opened up in November. They opened up a “fastlane” withdraw option in early December. It allowed people buy an early withdraw by paying a fee via egold in exchange for payment via egold in 24-48 hours. It came with a statement that regular withdraws would be processed right before Christmas.
The previous paragraph sounds pretty rosy, however just like past performance; there were a myriad of problems. First, not all accounts were uploaded. They have been working on getting them updated. Next the “fastlane” quickly turned into “slowlane”, then “nolane”. It’s strange, but PSX was overwhelmed at the shear volume of withdraw requests. No one else was surprised. Within 48 hours of opening up “fastlane”, the payments stopped. The week before Christmas PSX announced that there would be a one time only corporate check withdrawal of $300 and the “fastlane” fees would be returned via the check. Those that got their $300 check request in by December 20th were rewarded with a check being mailed from December 27-29th. In the meantime purchases from account balances continued to mature on time and account balances grew.
Not much new happened in January. First, no one in the world that visits the forum and requested a check has received their check, yet. Many said that it takes 4-6 weeks for Philippine mail to reach North America. However, it doesn’t explain why closer countries haven’t received anything yet. Next, other withdraws were suppose to be reversed and the balance added back into your account balance. This process has been manual and is not complete. PSX took the website down for 2 days (twice) to make major updates. While there might have been several things done in the background, the only thing we could see was a glitch with maturing plans. Plans that were due on January 24-28th matured multiple times. Some of them matured 30 times or more! You can imagine what this did to account balances. WOW! Unfortunately, all of the multiples need to be reversed. (PSX came up with the not so bright idea that members could simply return the over payments via doing a transfer to a PSX account.)
On February 1st almost all PSX functions were put on hold while they sort out the problems. The forum was put on hold at the same time. Does this signal the end? Not hardly. It’s not over until it’s officially gone. An announcement was made about a new exchange site, where people can buy and sell PSX shares. The transitions are to be done via traditional currency exchange, like bank wires, for PSX account balance money. (It’s PSX’s answer to people not getting paid. LOL) Since PSX money is really just monopoly money and it isn’t worth anything without payments, I don’t see how an exchange program is going to work.
So, while we wait for an update from PSX and/or the forum, a $300 check, account balance fixes, the exchange program and a viable payment solution, the PSX world has stopped. Some have talked to Henry and they have high hopes. Others are calling for the demise of PSX if the checks aren’t received by anyone in February. Who, if anyone, will get paid? Will people be able to unload their PSX account balances in the exchange program, if it gets launched? What will be the next installment in As The PSX World Turns? Stay tuned.
JMO,
Sharon
P.S. If anyone is new and wondering what PSX is, I’ll let you know IF PSX ever becomes a viable opportunity or you can search the blog archives.
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Thanks for the update Sharon.
My PSX account says I have about $13,000 in it now! LOL
And I wondered what was going on!!
Cant believe I was silly enough to send this mob another $30 for a fast lane payment.
Sharon,
That is a very precise account of what is going on @ PSX.
There is only one point that I wish to add:
Strangely enough, they are still accepting new members and more importantly their money - even now!!
BTW, and in line with my above comment, new plans can be purchased now, don’t see the point since even the monopoly money has ceased to grow - doubles and monthlies have been stopped!!
Levaz
Sharon no updates looks like this is over .Any further comments ?.Forum is still down and no update since Feb 14.
cashew01
HI Cashew,
They are still limping along. I received an email from the forum today that they are taking everything offline for 48 hours to do the account clean-up. I suspect that they’ll install and hopefully test some script changes, too. Only time will tell! If nothing else, seeing what Henry’s next excuse is has been very entertaining. LOL
JMO,
Sharon
Rest assured that PSX is a total scam. Not one person got a check. All these “good’ members sending their personal information to get their “debit card” smells like identity theft to me. If anyone critizises the program or “sir” Henry, they are booted off the forum and risk losing their monopoly account. And then there are the moderators who in gestapo fashion “moderate”. Are they in on it to keep the masses from going to the authorities? PSX=total scam!!!
dhue: it would seem PSx is behaving that way. Thanks for sharing
HI dhue,
Thank you for your insights. However, I respectfully disagree with you. I’ll be on the fence with PSX until they either pay or fold. They have broken all of the standard rules that HYIP history teaches us. There have been plenty of programs that strung members along for a long time without paying, but PSX doesn’t follow any of those models (at least as much of history that I’ve studied.) They’ve set the latest date as April. There are still 10 days left.
By the way, I will not be posting any more PSX articles as long as they are active.
Thanks,
Sharon
So what do you suggest Sharon… send in the ID info to get the card or not?
I am under pressure to send it from a family member who refuses to believe this is simply a scam still.
Opti
HI HYIP Hound,
They are asking for ID docs to open a bank account in your name. They need the orginal MAF, filled out with black ink, and copies of a government/employer issued ID and a piece of mail from a company. On those docs they need your name, address and signature. They will compare that information with the information on MAF to verify that you are the one that filled out the MAF. They use the second document to verify that you are receiving official mail at the address you gave. All of it is to determine that you are who you say you are and to eliminate false information.
Suggested ID docs are your driver’s license and a utility bill. They do not need other information, such as your driver’s license number and your utility account number. I recommend that you blacken out or cover up all information, except your name, address and signature. If you scan your docs, you can use MS paint to cover of the data and then print it.
I can not suggest whether you should send in your information or not. I sent mine in, but you have to determine your own comfort level. You may opt to hold off until people start receiving their cards, can load them and are getting paid. That way if it happens, you’ll feel safer. If it doesn’t happen, you won’t lose anything. For your peace of mind, it would only cost you a few weeks. Also, tell your family member to quit bugging you and that you’ll send in the docs when you’re good and ready. Tell them that, no, you do not want your account merged with theirs.
JMO,
Sharon
Thanks Sharon,
That’s a very helpful reply. I’ve been saying all along I dont care how long it takes to get verified, if they are genuine then I can do it once I see people getting paid.. or at least receiving the cards.. before I decided.
I also kind of feel a bit silly still participating and imagining they might pay out anything, let alone thousands, for my $90 gamble so long ago. :p
Someone got paid and it has been posted in the MMG forum
Actually 3 people got paid. But read the website above. There might be
hope yet
http://www.moneymakergroup.com/Point-Share-Gold-wwwpo-t52103.html&st=3510