Skip to main content

It may just be the type of wingnut I know, but the last few emails have had very interesting links on the bottom.

http://www.goldnuggetinvest.com   (Visit)
http://www.geniusfunds.com/
http;//arbsfund.com/

These are all HYIP's(High Yield Investment Programs) in other words Ponzi schemes.  These places are "guaranteeing" 20% monthly returns.  Now I am no investment guru, but that screams fraud. BTW all of the urls had ref's attached to them so the person that directed you to the site could get a commission.  I removed them so there is no chance that person can make money off of this post.

If you take time to do actual research you will see they are clearly illegal, clearly ponzi schemes.  There is little about them on the web, I think part of it may be that when these disappear it is usually the little guy that gets burned.

The savvy investor would have not even looked at it, but the novice thinks they can get rich quick.  Also, I am sure there is a sense of embarrassment when taken in like this.

Gee, if Keith O. ever reads this maybe he might do a segment on HYIP's.

I asked one of my wingnut emailers why he had them on his email.  He truly believes he is going to get rich.  As of now he has invested over $5000 and told me quite sincerely he has made over $7500.  When I pressed him for details the story changed somewhat.

Yes he has sent this company(which claims to be legally registered in Belize)

www.arbsfund.com is owned by Arbsfund Inc, a legally registered company in Belize since 2007

Source
but isnt

International Financial Services Commission,
Sir Edney Cain Building,
Belmopan,
Belize, C.A.

30 December 2009

WARNING NOTICE

ARBSFUND INC.

It is notified for general information that ARBSFUND INC. is not licensed by any competent authority in Belize to engage in online gaming business, asset management, or to offer any other international financial services. The representations made on its website http://www.arbsfund.com to that effect are false and fraudulent.

All persons concerned are asked to take note and exercise caution.

GIAN C. GANDHI
DIRECTOR GENERAL
International Financial Services Commission of Belize

$5000 dollars, they have sent him $1400 and claim he has made another $6000+.  I asked him about his original principal.  He says they still have it.  If he takes it our he wont make any money, and he is rolling most of his profits back because they will give him an even higher rate of return.

Can you say sucker?

This guy truly thinks he is going to make his millions.

But here is the sad part. When I pressed him on how they make their money, he told me they had a secret system on betting on casino wagers.  I won't explain here how this supposedly works, it is on their website and to anyone that knows how economics and casinos work it is laughable.  I explained that the only businesses that make profits like this are illegal enterprises he said he didn't care.  I asked if he cared if the money came from drug trafficking, child porn or whatever he said he didnt care. When I explained to him how this whole thing works, how a Ponzi scheme works by paying back some of the original investment until it all collapses, he said her didn't care.
He didn't care if future investors got burned, because they were taking a gamble just like him.

Classic compassionate conservatism.  This is a guy who ends his email with

Only 2 defining forces have ever offered to die for you....Jesus Christ and the American Soldier.
         One died for your soul, the other for your freedom.

(Don't get me started on that. Maybe another diary)

But doesn't care if other peoples lives are ruined by his actions.

Maybe he is an outlier, but in my experience it is classic wingnut behaviour.

Originally posted to bfuentes on Mon Mar 01, 2010 at 08:40 AM PST.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site