Hi Everyone, I found this interesting article and couldn't resist sharing it with you all here at adlands <>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<> HYIP and the "Secret Banking System" Scams <>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<>~<> from http://www.scambusters.org HYIP, which stands for High Yield Invest Programs, are investment scams that are exploding right now. The scam artists focus on greed as well as spinning tales of the (non-existent) "secret banking system." The hype can be very convincing -- and millions of dollars of money is lost to these scammers. Here's how it works: The scammer says that they -- or their employers -- are one of only a handful of traders in the world who can pull of these special kinds of trades. These trades are usually only done at the $100M level, but for some (made up) reasons, you can now invest a small amount of money and quickly get the $100M level. Why do they say that they are not just continuing to do the trades for themselves? They claim they've been doing them for 15-20 years, and they have secretly made hundreds of millions of dollars. So, they've now made enough money and they want to help you benefit some charity. Naturally, you are told your money is not at risk, and that you can earn between 1% to 250% return per day! These high interest rates are tip-offs that the "investment" may well be a Ponzi scheme or other type of scam. Perhaps the most compelling part of these scams to many victims is that they supposedly tap into the (non-existent) "secret banking system" that normally only the very rich can benefit from. That's why they claim astronomically high rates of interest can be achieved. There are many variants of these scams, including those that claim: - There is a major U.S. bank that guarantees these investments. - The U.S. government is covering up this secret banking system. - The program uses International Chamber of Commerce Approved Forms. - These programs are backed by the International Monetary Fund. Action: Delete any email that promises you extraordinary investment returns. Recognize there is no "secret banking system," and regardless of the promises, your money is NOT safe. Don't be fooled by the hype. Remember: if it sounds too good to be true, it probably is a scam. For more on avoiding investing scams, visit: http://www.scambusters.org/investing.html We have more scambuster links on our main site at The Corner 4 Women, http://thecorner4women.com/A.htm Love and Peace John Elliott aka Oaky Wood and Luella May

Hi John and Luella, After reading your article - Boy am I glad that I only sell angels! It's a jungle out there! Love Jenny

Thanks for the heads up and articles. I appreciate you helping to keep us informed.

I don't like the fact that this article lumps all HYIPs in with the secret banking system scam. NOT ALL HYIPs ARE SCAMS!!! In fact many are legitimate and have been operating for years, earning thousands of dollars for their members. It's the ones that claim to earn 800% in 2 days through secret systems that no one else knows about that are likely to be scams. There are plenty of monitors out there that will show whether a HYIP is paying or not, so it's up to the would-be investor to do some research. But don't assume that a high rate of return is necessarily an indicator of a scam program. 2-5% a day is a reasonable rate for a HYIP -- after all, I'm doing surfs that pay at 11-24% a day, and all without any payout issues at all. A good HYIP will tell you where they're putting your money.

I have to go along with Steve, John and Luella. You put a bit of a stereotype on all HYIPs and not all of them are scams. I don't think people should jump in head first and gamble with funds they can't afford to lose though either. Any of these investments, even when done with legitimate financial advisors and brokers are a risk at best. I have been involved in several HYIPs that have worked out extremely well. I have done my due diligence each and every time and I have never invested any more than I could afford to lose- just in case. Scambusters is a great place to start the due dilligence, but not all HYIPs are there and not HYPESs are scams. I am currently involved in a couple of HYPEs and the rate of return has been great - yes they are all different, and not all of them live up to the HUGE promises they make,but that doesn't make them a scam as long as they make good on the initial investment. When going with a new one I always test the waters for the short term with a small amount. So, in a nutshell: HYPEs can be like a roll of the dice and a word to the wise would be never invest more than you can afford to lose. For me they are like a casino, because I don't feel like driving to Atlantic City! Have a Phenominal and Blessed Day!