No Bullshit HYIP Blog, A Part of No Bullshit Network

In 2005 there was a famous letter from a HYIP ring that explained how they opened up HYIPs for the sole purpose of stealing the member’s funds. Yesterday a new letter was posted at MMG in the ITrade4U thread. Could it be the same ring? The letters are similar. If it is, then they are still fooling most of the people and stealing huge amounts of our money!

First, the ITrade4U.biz website is for sale. They boast running FAPIC, INVEX, E-BASTION, TROYBANK, ITRADE4U, and OPENTRADE. You can see the advertisement here.

Next the letter to Invex Group members that outlines how they run their scams…

Dear Invex Ltd. Players,

This is a long message and will be the last news you will hear from us… until we open our next HYIP. We want, kindly, recommend you stop losing your time by looking after us. Anyway, for the cyber detectives, here is how we worked.

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Popularity: 8% [?]

Read the full post of Disgusting HYIP Ponzi Ring – FAPIC, INVEX, E-BASTION, TROYBANK, ITRADE4U, OPENTRADE, etc.

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After I read about the club-FX disaster I feel I need to write down what I know about protecting e-gold funds. I know its too late for the club, and I should have wrote this article quicker but sadly I can’t change the past or what has happened.

Read the full post of Create a Live-CD, protect your e-gold funds

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After posting a comment to Jude’s late January post about A3Union, I was again struck by the ongoing and unanimous success it and the more sophisticated HYIP scams like it experience. Once a novelty, such programs have become much more commonplace over the past year or two as scammers adapt the working of their craft to a (only slightly) more discriminating and educated potential member pool. The outspoken advocate of investor - or gambler, if you prefer - education that I am, I think recognizing what it is that certain programs have in common, loosely categorizing them and analyzing them on that basis is of paramount importance for understanding the world of HYI (a generic label that encompasses HYIPs, surfs, and so on). Profit - and survival, for that matter - do not come without understanding, so anyone looking to make money online by unconventional means will have to do some considerable thinking. So, put your thinking cap on for a moment and follow me into the slick and sordid muck of what I call legitimation scams.

Read the full post of The New School of Scam: Part I

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The term “ponzi scheme” reminds me of pond scum. It may look like a pretty green shade of feed, but in reality it is toxic and sucks the life out of the fish trying to swim in the pond. How long are we going to let the pond scum of the HYIP/Surf world suck the life out of those of us trying to swim?

I know that I’m going to get flamed for this article with people wanting to know why I’m trying to bite the hand that feeds us. After all 99% of all HYIPs/Surfs are ponzi schemes. Well, I am not the only one sick and tired of these scammers and it’s time to take a stand against them. They are illegal, because they are toxic to our funds. If we aerate the HYI pond with knowledge and understanding, we can kill off a great number of these pond scum.
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Popularity: 6% [?]

Read the full post of Ponzi Scheme – Pond Scum

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Thanks to an alert poster, 24oz, you can add International Financial Services Commission to your DD resources. Among the programs on notice are AMF1989, Tropico LTD, Mentor Investing Group, E-Gold Investments Online and many others. The warnings are because these programs are not registered and/or not licensed to do business in Belize. They also warn when a given Belize address is fake and fraudulent, among other warnings.

Read the full post of International Financial Services Commission, Belize – Warning Notices

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Jude just posted that a few of us were talking in a conference. One of the things we were discussing was Leo’s excellent advice on “The Problems With Forums. Why You Should do Due Diligence on Posters in Threads”, located in DrunksWorld. (Read it! It’s extremely useful when you are trying to decide on joining a program or re-investing in one.) We were also discussing the SEC investigating Global Online Deposit news. Read the full story here. That lead to a conversation on how programs call investing different terms, like “loan”, “deposit”, “membership fee”, “ad pack”, etc.

Read the full post of Is It A Duck?

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I alluded to staying away from referral hounds in the “Pick Your Upline” article and even gave my brief definition. Well two others have done a much better job defining “referral whore.” It’s a slow day in HYI news, so go have a laugh…

Referral Farmers Exposed
To The Referral Whores Out There (Note to Chris: ROFL!! Too funny!!)

Read the full post of Referral Whores - Just Say No!

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Ok, so you’re in the HYI/Autosurf arena to play/invest. You’ve decided on a program to join. Do you just join using the referral link that got you there? Or do you wait and try to find the right upline? I’d be willing to bet that most of you join using whatever referral link got you there, regardless of whether it was from a friend or just a link you found. I know that there are some of you that take your time and shop for a good upline and some sell their referral commission to the upline that bids the highest. I’ve seen your posts asking for an upline.

Upline shopping can be just as important as hunting for the elusive “best” program. There are many reasons why someone chooses (or ignores who they choose) and I listed the two most common ones in the first paragraph. I know that I can’t possibly list all of the reasons, but here are some of them:
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Read the full post of Pick Your Upline

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People are always blinded by the huge returns of HYIP’s. Scammers are most often very convincing. They have a nice site layout. They give good returns. They can proof(with fake documents) they truly trade and that they are registered. Sometimes they even provide you a link to the government claiming they are registered with them(europtrade). They claim to be years old by referring to their domain(which can easily be bought).

Read the full post of Why people avoid LYIP

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We always hear diversification is a key to winning in HYIP. In some level, I’m with it, but not, most of the time. It might be overated in fact.

A quote from The Tao of Warren Buffet which I introduced weeks back.

Read the full post of A different perception on Diversification

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HYIPs, including autosurfs, have to get money from somewhere in order to make payments. They can get it from inside the program or from external income sources. 99% of HYIPs use inside money, even though some claim to have an outside source(s) like Forex trading. There are a few that actually have an outside source of income.

Inside Income Source

These programs use new member’s money to pay old members (and maybe some money from sales of a service, like advertising.) They are referred to as ponzis, pyramid schemes, games, etc. Any way you describe it, they are illegal. Some come right out and tell you that they are a game, while others try to hide the fact with glitzy rewording, a service and/or skirting the issue. The worst are the ones that out right lie to you and tell you they are trading in Forex, doing import/exports or some other source, when they aren’t.
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Popularity: 2% [?]

Read the full post of Inside vs. Outside Income Sources

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In this article I’m going to tell you what I’ve learned about HYIP games and why I’m no longer playing the game. Although I’m going to write as if it were fact, please remember that this entire article is strictly my opinion. Some of what is in the article is in Jude’s article “In the Game… or Out.” You can consider this article a follow-up to that one. However Jude did not read this prior to publishing, so I’ve no idea whether his opinion mirrors my own. Program owners are not going to like what I write. Readers please form your own opinions from your own experience and many sources.

HYIP Games Defined
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Popularity: 4% [?]

Read the full post of HYIP Games, How to Win and Why DD Doesn’t Matter

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It’s silly and stupid, but its a fairly simple tutorial for you. (Bad for the administrators of programs if you’re running a ponzi like program).

I’ve discovered this ONLY last year after realizing my money was increasing and decreasing at a rapid rate in E-gold (and that’s the only time that I realised, Gold is a piece of weird metal - safe haven some says)

Read the full post of The Gold Trick on your Yielding Programs

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ChamberOfGold recently has launched a new ‘hyip grapevine’ feature which, using ajax, shows the latest news in the hyip industry. NOBSHYIP is one of the news sources, so be sure to post on NOBS and get your story featured on ChamberOfGold.com!

Popularity: 3% [?]

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Some food for thoughts from the book The Intelligent Investor,

Read the full post of Your Money and Your Brain

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