"What About HYIPs Make Them Look Fraudulent"

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What are the Indications of Fraud in HYIPs?

1. They only take e-gold or other such digital currency. It's not traceable and it's not refundable. How can you trust an egold HYIP?

Honest HYIPs Would Accept a Check or Money Order

If your bank charges you an exorbitant fee to cash a check or money order that's in a currency other than your own country's, why not accept Pay Pal?

2. Even assuming the administrator has honest intentions to trade/gamble with your money in a way that makes a profit and then to distribute your share of the profits to you -- it's illegal for them to be offering investment opportunities to the general public, which I believe that publicly accessible websites do. They are supposed to be offering nonregistered securities only to accredited investors.

3. Every legitimate trader -- even including actual, successful poker players -- know that no system guarantees them profitable days or weeks or even months. Every trading system talks of periods of "drawdowns" -- when the system loses money instead of makes it.

Even Warren Buffett constantly warns his investors not to expect automatic returns. The more money he makes for his investors, the more he warns them it can't continue indefinitely.

Even the Best Hedge Fund Traders Can't Consistently Make What the HYIP Sites Claim to

Yet these no-name traders "guarantee" daily profits that put Mr. Buffett and all other mutual fund, pension and hedge fund managers to shame

4. And they don't even want to give you a clue as to how they do it. They might say they invest in gold or forex trading or certificates of deposits or manufacturing -- but they don't go into any specific detail about how this activity guarantees you a daily profit.

This makes no sense if you want to assume the HYIP administrator has honest intentions. They could tell you specifically how they're going to multiply your money. Not the proprietary details which give them a trading edge, but something specific. They'd spend web pages bragging about it, not just refer to a shopping list of every financial instrument ever invented by humanity.

5. If these traders were really so good, why do they need as little as $10 from you? Why aren't they presenting their results to wealthy people? Why aren't they forming hedge funds? Why would they even want to be bothered with people who have less than $US 100,000 to risk?

6. If these traders are so good, why're they spending time putting up web sites, notifying HYIP monitor sites of their existence, opening up e-gold accounts and so on? They should be trading. The forex market runs around the clock. If they're so good, they should be glued to their computer screen whenever they don't have to eat or sleep. Same with playing Texas Hold Em online -- if you really are good, the more you time you play the more money you'll make.

7. HYIP monitoring sites pretend to separate the scammers from the programs that are paying -- but they listed the obvious frauds along with the programs that ostensibly are engaging in legitimate forex trading.

Some HYIP Sites Engage in Prime Bank Fraud

I'd never heard about the prime bank fraud before I did the research for these articles -- yet within a short time of searching for HYIPs on Google, I'd learned about the prime bank fraud. So I'm sure that HYIP monitoring sites know about the prime bank fraud. Yet they still list HYIPs that are obviously engaging in the prime bank fraud.

They list obviously ridiculous HYIP investing sites. Nobody in their right mind would send money to Macao to finance casino gambling there. Or to move up in an imaginary line. Or even to finance a Texas Hold Em player. Poker is a game of skill rather than gambling, I agree, but to finance a player whose skill level you don't know is lunacy.

So HYIP monitor sites will list ANY HYIP no matter how obviously a fraud it is, as long as money is being put into their account

Remember, just because an HYIP monitor site is being paid, doesn't mean that YOU'll be paid! The site is monitoring HYIPs to make money by referring you to them.

HYIP and HYIP monitor sites are both frauds. For all I know, HYIP sites are put up by the so-called monitor sites.

Do HYIP investors think that High Yield Investment Programs are scams.

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