Tuesday, July 15, 2014
Hi I Am Your Rich Uncle In Nigeria, Is it Legal to Start a Ponzi Scheme Online If All the Participants Sign an Advance Agreement Allowing Themselves to Be Defrauded?
Is it Legal to Start a Ponzi Scheme Online If All the Participants Sign an Advance Agreement Allowing Themselves to Be Defrauded? Reading This Article Can Cause You to Loose a Lot of Money. Lex Loeb Contributor Network . It might be time for a Penny Ponzi Pyramid Scheme on the Internet. One could promise to pay 100% interest on a penny sent to a paypal account . I once had a mail art project where I got pennies sent to me from all over the world . I got a lot of decorated pennies in the mail including some transformed into collage animals with glued on features. The deal was I had to send a penny back. Postage is way too expensive to mail pennies at the price of mailing an envelope. A think a penny pyramid scheme would be really wonderful If I could get it to work with paypal. I called may mail art project LL Penny's Pennies from Heaven since most flew in air mail. A lot of people sent me pennies, pennies and more pennies. Paypal ponzi penny pyramid project? If I offered 2 cents for every 1 cent invested allowing for people to deposit only one cent and no more to the project how long would it take me to go broke if I were honest? It would not be proper ponzi pyramiding if I proposed to pretend I was proper. What fun would that be? What ? You have never been played by a ponzi pyramid plunderer? Is there some way I can list that on Ebay? I did sell Lehman Brothers on ebay but am still not aware that I ever got paid. I saw some small town in Pennsylvania was selling the right to name streets in the town on ebay and had plenty of bidders. Why is Portland bothering with Chavez Street when it could put streets names up for sale in a bid crazy world of ebay? Some Idiot could put up an " advertise here " ebay auction for the right to put an epitaph on people tomb stones . I can see it now. "Joe Smo 1978-2008 --Coke is the real thing" carved on a granite tomb stone." It could even have a carved picture of the classic coke bottle. That would not compare with selling a service generating 100% interest returns on a penny. The problem with most pyramids schemes is they really are not what they are advertised to be, The promoter usually intercepts the puffed up pool of cash long before the final investors have a chance to get their 100% profit. It reminds me of the Bernanke/ Paulson bail out plans where the 700 billion went into banks that immediately stopped lending money as soon as they were solvent again with that new money. That is where I got the idea to sell Lehman brothers. I drew up a certificate and mailed it. i suppose the buyer , who many never have paid me might resell it? I made a big round hole in the certificate with a giant hole punch to demonstrate the value of the underlying assets. You can't beat the federal government for running a ponzi scheme with it's social security promises and no underlying assets....not even Bernie Madoff can compete with a multi-trillion dollar ponzi scheme like that one. There really needs to be a really good inexpensive ponzi pyramid scheme online anyone can afford to loose a few cents in. I was thinking of creating just such a site but suspect it may be illegal. Here is how it might work: Anyone could send a penny to my special designated ponzi penny paypal account. Every fourth penny contributed would immediately be compensated with two cents back the other two cents would be retained by the site when the site has retained ten dollars in cents it will automatically pay the person paying in 1 cent 2 dollars and retain the 8 dollars for my charity called Ducks for A Bad Cause. If you lived in Portland long enough you might know something about Ducks For A Bad Cause or may even own one of our fund raising ducks? Never mind what it is . It is a charitable bad cause. When the pot is paid out, it starts again automatically. The paypal based site would be blind so that those sending in their cents would not know what number of cents proceeds their contribution. That sounds like a pretty good ponzi scheme whose time has come. I would even be a better scam if the big payout was 10 cents when the pot finally reached 100 bucks paying $99.90 to my private account. Every fourth person would get 2 cents for 1 in this scam and other three would just loose a stupid cent. The really luck person would get ten times their money. Double Your Money! Oh yeah. Another great site would be an INTERNET coin flipping site where you could bet on heads or tails with a cent. If it were heads the site would automatically pay you back two cents or give you two additional coin flips. If the coin flip turned out to be tails it would debit your paypal account for an extra cent above your original ante. Roughly, if it were a fair online coin flip, every other flip would offer a 50/50 chance of winning two cents or loosing two cents. After writing this I finally got around to taking advantage of the free $25 to fund a FXCM micro forex currency trading account on the CNBC trading contest site. I quickly lost most of the 25 dollars having no idea what I was doing . I bet their money on trading buying and selling yen and euro us dollar contracts. I started out OK turning 25 dollars into 32 or 35 and then continually bet wrong . After 4 mini margin calls I ended up with less than $4 in the account and it is too little to trade with so I think I am done with currency trading now? Trying to predict short term market movements in currency exchange is harder than predicting the outcome of flipping a coin even with real time charts ticking in front of you. It is worth trying so long as they are offering free funded accounts of $25 each. It is a great real life link to the real time currency exchange that comes in the download. I sill have $3-$4 in the account an am tempted to try again becuse i did win for a while playing the game but then again probably not. Too bad they just don't refund the free money they give you so you can try again. Otherwise they do have practice accounts that may not require any cash of any sort to try it. If the FXCM micro forex currency offer is still available go to cnbc.com and find the million dollar trading contest, Unfortunately it is not a tiny ponzi penny scam but It can be funded for a few dollars for the fun of loosing money and the system is devised such that you get margin calls that wipe you out long before you have to pay in additional funds to cover losses. I do admit that the idea of leverage trading of currencies in this manner makes no sense to me. A better account might be a Zacco no fee brokerage account where if you have enough assets you can trade tiny penny stocks with no commissions. I am proud to have purchased 6 shares of Sirius Radio corporation on the site for 15 cents each just to see it could be done with no commission- If I am wrong about the investment of about 90 cents then the US Pentagon or one of the major political parties will end up owning yet another satellite communications company paid for by private investors and my losses might be 90 cents! Satellite radio is the future of radio even if the company does go broke . So yes you can loose money reading this and it is all your fault if you do. .