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Cyclers/doublers blatant ponzi schemes

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Posted by: edward

Am I worng, or are Cyclers and doublers nothing more but ponzi schemes which tell people they are ponzis? Doesn't this make them flat out illegal to both run and participate in? Or does the claim that you get advertising for your money change this?

Any thoughts on this matter?


Posted by: Trinary

I don't think you're wrong...


Posted by: forwardone

They would probably say that the fact they state that you are buying some advertising with your funds puts them on the right side of the law.

I suppose in that sense it makes them no different to the majority of HYIP`s which claim to be investing, or trading in some way or another, yet of course they aren`t.

Geoff


Posted by: Hardlyworkin

All cyclers and doublers eventually fall flat on their face. Just take a look at YMMSS and it increasing times since November 2004 despite all kinds of effort to pull it down.
But yes saying that you are getting advertising is a way to at least make it appear to be on the up and up.


Posted by: memorex

I would be inclined to wait and see what transpires with the new upbeat payment system if it ever takes off.
They are supposedley paying out weekly after the big man Kim returns from his Australian seminar.


Posted by: Hardlyworkin

Quote:
Originally Posted by memorex
I would be inclined to wait and see what transpires with the new upbeat payment system if it ever takes off.
They are supposedley paying out weekly after the big man Kim returns from his Australian seminar.


Yes they are paying out weekly but not as much as they were of course say a year ago when the cycle time was less than 90 days. Right now the continued success or failure of the program depends on the new upbeat payment system being lauched by Kim.


Posted by: FutureGizmo

In the strictest sense of the word, a Ponzi is a Ponzi if it relies on future spends alone of other members to pay for earlier maturities. If some product/service is offered and paid for by members, "advertising" normally, that's an excuse for them not to be branded as a Ponzi.

As I see it though, as long as new members and new spends are needed to continusously run a program, whether or not they're selling some product or service, that still is a Ponzi. It's not a Ponzi if the entry of new members and new investements is not necessary to prolong the life of the program.


Posted by: Hardlyworkin

You are absolutely correct Giz. In the case of YMMSS members do purchase advertiseing and YMMSS tries to sell advertiseing elsewhere as well, however, they don't invest in anything so if the purchase of advertiseing slows or stops so does the payout and times increase as then already have been doing for almost a year.


Posted by: betrdanevr

Easy Chair Club was my absolute last!


Posted by: memorex

Quote:
Originally Posted by Hardlyworkin
they don't invest in anything so if the purchase of advertiseing slows or stops so does the payout and times increase as then already have been doing for almost a year.


Thats not quite correct, I am not a real fan nowadays!!.. of this system ,nor the newer upbeat system.
But I do know that Kim has actually stated that they have invested some of the money for future income.



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