Tuesday, August 5, 2008

High Yield Investment Programs

Wikipedia puts it this way:

A High-Yield Investment Program (HYIP) is a type of scam. At one time, it was used to refer to an investment program which may have offered a high return on investment. The term "HYIP" was abused by the operators of scams to camouflage their scams as legitimate investments. Due to this overuse by the operators, HYIP has become synonymous with scam or Ponzi scheme. The usage of the term has evolved to refer to a kind of Ponzi scheme that recruits "investors" through the Internet.

How do I feel about HYIPs? I regard them with utter distaste, the type of disgust and abhorrence Nazi's would be proud of. Why? Because they steal peoples' hard earned money while crushing their dreams. How would you feel if you entrusted the result of your blood, sweat and tears to a company who promised to multiply your capital only to see all your money disappear? I'm sure you would be far less than happy!

Too bad! Whoever entrusts their funds to such entities must be filthy rich and is willing to take that sort of risk. It is highly unlikely that I would fall victim to any such progam as I am too poor to risk my pennies!

Bank of America, Washington Mutual... they have my cash. As for these high yield fancy pants establishments. My patronage extends and ends with this blog post. Full stop!

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