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Michael Green's 'How To' Forum
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How To Forum
After 36 months of watching.... the whole thing crumbled
Posted By: Josh Anderson In Response To: After 18 months of watching........ (john woodworth)
Date: Friday, 19 December 2003, at 7:03 a.m.
What is the point of this post?
This is rediculous the link to the page shows some guy who has quit his job after earning $14,080.00 in 7 months!
Ok since when did $14,080.00 = stability? If you add 5 months and another $10,000 only = approximatly $24,000.
Besides being a very questionable and unstable potential thinly vieled ponzi scheme proclaiming "Now that I am earnig $24,000 a year I am quitting my job and looking forward to retirement" is quite rediculous.
Do the research. Although a scheme may have been in operation for years it does not mean it is legal. The SEC (in US) once they get around to investigating could rule that the safelist aspect of this particular scheme is only a facade and that in reality people are investing in the pyramid rather than using the highly overpriced safelist service for advertising (which doesn't work).
Do the research and stear clear!
http://www.smithsonianmag.si.edu/smithsonian/issues98/dec98/ponzi.html
http://www.sec.gov/answers/pyramid.htm
http://home.nycap.rr.com/useless/ponzi/
"False Profits" by Robert Fitzpatrick
http://www.pyramidschemealert.org/
Pyramids don't pay. The Federal Trade Commission cautions consumers about clubs or programs that promise quick money for recruiting new members. Don't bank on the pyramid promise that someone else will pay you. For more information on get-rich-quick schemes, visit the FTC at www.ftc.gov. (48 words)
Avoid the rubble of a fallen pyramid. The Federal Trade Commission cautions consumers about the promise of easy money through a downline, matrix, or binary pyramid plan. Don't bank on the promise that someone else will pay you. For more information, visit the FTC at www.ftc.gov. (50 words)
Don't let a downline bring you down. Pyramids are illegal. The Federal Trade Commission caution consumers not to fall for promises of quick money through new member recruiting instead of real product sales. For more information, visit the FTC at www.ftc.gov. (45 words)
This is a public service message suggested by the Federal Trade Commission.
Although it may not be clear whether the program falls in this category it certainly is not a legitimate and respected business providing legitimate and repected services. The people attracted to this opportunity are interested in only one thing...
Being at the top.
Here is a handy little tool that will show you who wins:
http://www.homepage.net/pyramidcalculator/
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