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Pyramid scheme

| Author Money

From Wikipedia, the free encyclopedia

A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, without any product or service being delivered. Pyramid schemes are a form of fraud.[1]

Pyramid schemes are illegal in many countries including Albania, Denmark, Australia,[2]Brazil, Bulgaria, Canada, China,[3]Colombia,[4]France, Germany, Hungary, Iceland,[citation needed]Iran[5], Italy,[6]Japan,[7]Malaysia, Mexico, Nepal,[citation needed]The Netherlands,[8]New Zealand,[9]Norway[10], the Philippines,[11]Poland, Portugal, Romania,[12]South Africa,[13]Sri Lanka,[14]Switzerland, Taiwan, Thailand,[15] the United Kingdom, and the United States.[16]

These types of schemes have existed for at least a century some with variations to hide their true nature and there are people who hold that multilevel marketing, even if it is legal, is nothing more than a pyramid scheme.[17][18][19][20] There have even been charges by people like economist Thomas Sowell that the United States Social Security program itself is nothing more than a legalized pyramid scheme.[21]

  • 1 Concept and basic models
    • 1.1 The “Eight-Ball” model
    • 1.2 Matrix schemes
  • 2 Connection to multi-level marketing
  • 3 Notable recent cases
    • 3.1 Internet
    • 3.2 Others
  • 4 See also
  • 5 References
  • 6 External links

[edit] Concept and basic models

A successful pyramid scheme combines a fake yet seemingly credible business with a simple-to-understand yet sophisticated-sounding money-making formula which is used for profit. The essential idea is that the mark, Mr. X, makes only one payment. To start earning, Mr. X has to recruit others like him who will also make one payment each. Mr. X gets paid out of receipts from those new recruits. They then go on to recruit others. As each new recruit makes a payment, Mr. X gets a cut. He is thus promised exponential benefits as the “business” expands.

Such “businesses” seldom involve sales of real products or services to which a monetary value might be easily attached. However, sometimes the “payment” itself may be a non-cash valuable. To enhance credibility, most such scams are well equipped with fake referrals, testimonials, and information. The flaw is that there is no end benefit. The money simply travels up the chain. Only the originator (sometimes called the “pharaoh”) and a very few at the top levels of the pyramid make significant amounts of money. The amounts dwindle steeply down the pyramid slopes. Individuals at the bottom of the pyramid (those who subscribed to the plan, but were not able to recruit any followers themselves) end up with a deficit.

[edit] The “Eight-Ball” model

Many pyramids are more sophisticated than the simple model. These recognize that recruiting a large number of others into a scheme can be difficult so a seemingly simpler model is used. In this model each person must recruit two others, but the ease of achieving this is offset because the depth required to recoup any money also increases. The scheme requires a person to recruit two others, who must each recruit two others, who must each recruit two others.

Prior instances of this scheme have been called the “Airplane Game” and the four tiers labelled as “captain,” “co-pilot,” “crew,” and “passenger” to denote a person’s level. Another instance was called the “Original Dinner Party” which labelled the tiers as “dessert,” “main course,” “side salad,” and “appetizer.” A person on the “dessert” course is the one at the top of the tree. Another variant, “Treasure Traders,” variously used gemology terms such as “polishers,” “stone cutters,” etc. or gems like “rubies,” “sapphires,” “diamonds,” etc.

Such schemes may try to downplay their pyramid nature by referring to themselves as “gifting circles” with money being “gifted.” Popular schemes such as the “Women Empowering Women”[22] do exactly this.

Whichever euphemism is used, there are 15 total people in four tiers (1 + 2 + 4 + 8) in the scheme – with the Airplane Game as the example, the person at the top of this tree is the “captain,” the two below are “co-pilots,” the four below are “crew,” and the bottom eight joiners are the “passengers.”

The eight passengers must each pay (or “gift”) a sum (e.g. $1000) to join the scheme. This sum (e.g. $8000) goes to the captain who leaves, with everyone remaining moving up one tier. There are now two new captains so the group splits in two with each group requiring eight new passengers. A person who joins the scheme as a passenger will not see a return until they advance through the crew and co-pilot tiers and exit the scheme as a captain. This requires that 8 others have been persuaded to join underneath them.

Therefore, the bottom 3 tiers of the pyramid lose their money if the scheme collapses. Consider a pyramid consisting of tiers with 1, 2, 4, 8, 16, 32, and 64 members. The highlighted section corresponds to the previous diagram.

If a person is using this model as a scam, the confidence trickster would make the lion’s share of the money. They would do this by filling in the first 3 tiers (with 1, 2, and 4 people) with phoney names, ensuring they get the first 7 payouts, at 8 times the buy-in sum, without paying a single penny themselves. So if the buy-in were $1000, they would receive $8,000, paid for by the first 8 investors. They would continue to buy in underneath the real investors, and promote and prolong the scheme for as long as possible in order to allow them to skim even more from it before the collapse.

Other cons may also be effective. For example, it is fathomable but not cited or reported anywhere that rather than using false names, a group of seven people may agree to form the top three layers of a pyramid without investing any money. They then work to recruit eight paying passengers, and pretend to follow the pyramid payout rules, but in reality split any money received. Ironically, though they are being conned, the eight paying passengers are not really getting anything less for their money than if they were buying into a “legitimate” Eight-Ball scheme which had split off from a parent. They truly are now in a valid eight-ball, and have the same opportunity to earn a windfall if they can successfully recruit enough new members and reach captain.

It is clear by the above description that the Eight-Ball model is, in fact, not a pyramid scheme. As stated in this section, there is no one at the top. Rather, the “captain” leaves and is able to re-enter as a “passenger” if he or she decides to.

[edit] Matrix schemes

Matrix schemes use the same fraudulent non-sustainable system as a pyramid; here, the participants pay to join a waiting list for a desirable product which only a fraction of them can ever receive. Since matrix schemes follow the same laws of geometric progression as pyramids, they are subsequently as doomed to collapse. Such schemes operate as a queue, where the person at head of the queue receives an item such as a television, games console, digital camcorder, etc. when a certain number of new people join the end of the queue. For example ten joiners may be required for the person at the front to receive their item and leave the queue. Each joiner is required to buy an expensive but potentially worthless item, such as an e-book, for their position in the queue. The scheme organizer profits because the income from joiners far exceeds the cost of sending out the item to the person at the front. Organizers can further profit by starting a scheme with a queue with shill names that must be cleared out before genuine people get to the front. The scheme collapses when no more people are willing to join the queue. Schemes may not reveal, or may attempt to exaggerate, a prospective joiner’s queue position which essentially means the scheme is a lottery. Some countries have ruled that matrix schemes are illegal on that basis.

[edit] Connection to multi-level marketing

The network marketing or multi-level marketing business has become associated with pyramid schemes as “Some schemes may purport to sell a product, but they often simply use the product to hide their pyramid structure.” [23] and the fact while some people call MLMs in general “pyramid selling”[24][25][26][27][28] others use the term to denote an illegal pyramid scheme masquerading as an MLM.[29]

The FTC warns “Not all multilevel marketing plans are legitimate. Some are pyramid schemes. It’s best not to get involved in plans where the money you make is based primarily on the number of distributors you recruit and your sales to them, rather than on your sales to people outside the plan who intend to use the products.” [30] and states that research is your best tool and gives eight steps to follow:

  1. Find — and study — the company’s track record.
  2. Learn about the product
  3. Ask questions
  4. Understand any restrictions
  5. Talk to other distributors (beware shills)
  6. Consider using a friend or adviser as a neutral sounding board or for a gut check.
  7. Take your time.
  8. Think about whether this plan suits your talents and goals[31]

Some believe MLMs in general are nothing more than legalized pyramid schemes[17][18][19][20] making the issue of a particular MLM being legal or not moot.

[edit] Notable recent cases [edit] Internet

In 2003, the United States Federal Trade Commission (FTC) disclosed what it called an internet-based “pyramid scam.” Its complaint states that customers would pay a registration fee to join a program that called itself an “internet mall” and purchase a package of goods and services such as internet mail, and that the company offered “significant commissions” to consumers who purchased and resold the package. The FTC alleged that the company’s program was instead and in reality a pyramid scheme that did not disclose that most consumers’ money would be kept, and that it gave affiliates material that allowed them to scam others.[32]

WinCapita was a scheme run by Finnish criminals that involved about â‚ 100 million.

[edit] Others

In early 2006 Ireland was hit by a wave of schemes with major activity in Cork and Galway. Participants were asked to contribute â‚ 20,000 each to a “Liberty” scheme which followed the classic eight-ball model. Payments were made in Munich, Germany to skirt Irish tax laws concerning gifts. Spin-off schemes called “Speedball” and “People in Profit” prompted a number of violent incidents and calls were made by politicians to tighten existing legislation.[33] Ireland has launched a website to better educate consumers to pyramid schemes and other scams.[34]

On November 12, 2008 riots broke out in the municipalities of Pasto, Tumaco, Popayan and Santander de Quilichao, Colombia after the collapse of several pyramid schemes. Thousands of victims had invested their money in pyramids that promised them extraordinary interest rates. The lack of regulation laws allowed those pyramids to grow excessively during several years. Finally, after the riots the Colombian government was forced to declare the country in economical emergency in order to seize and stop those schemes. Several of the pyramid’s managers were arrested, and these are being prosecuted for the crime of “illegal massive money reception.”[35]

November 2008: The Kyiv Post reported on November 26, 2008 that American citizen Robert Fletcher (Robert T. Fletcher III; aka “Rob”) was arrested by the SBU (Ukraine State Police) after being accused by Ukrainian investors of running a Ponzi scheme and associated pyramid scam netting $20 million in US dollars. (The Kiev Post also reports that some estimates are as high as $150M USD.)

[edit] See also

  • Advance-fee fraud
  • Autosurf
  • BurnLounge
  • Cobra Group (company)
  • High-yield investment program
  • Holiday Magic
  • Make Money Fast
  • Multi-level marketing
  • Ponzi scheme – A similar type of fraud, which involves making payment to a central originator, who pays returns to investors from their own money or money paid by subsequent investors, rather than from any actual profit earned.
  • Success University

[edit] References

  1. ^ Common Fraud Schemes: Pyramid Scheme Federal Bureao of Investigation
  2. ^ Trade Practices Amendment Act (No. 1) 2002 Trade Practices Act 1974 (Cth) ss 65AAA – 65AAE, 75AZO
  3. ^ Regulations for the Prohibition of Pyramid Sales
  4. ^ “Colombia scam: ‘I lost my money’”. BBC News. November 18, 2008. http://news.bbc.co.uk/1/hi/world/americas/7736124.stm. Retrieved April 12, 2010.
  5. ^ Key GoldQuest members arrested in Iran Airport
  6. ^ Legge 17 agosto 2005, n. 173 (in Italian)
  7. ^ ç„ é™é€ éŽ–è ›ã é˜ æ ã é– ã™ã‚‹æ •å ‹ (in Japanese)
  8. ^ Sentence by the High Council of the Netherlands regarding a pyramid scheme
  9. ^ Laws and Regulations Covering Multi-Level Marketing Programs and Pyramid Schemes Consumer Fraud Reporting.com
  10. ^ http://www.lovdata.no/all/tl-19950224-011-004.html#16
  11. ^ [1] Investors in Philippine Pyramid Scheme Lose over $2 Billion
  12. ^ Explozia piramidelor Ziarul Ziua, 12.07.2006
  13. ^ [2] Pyramid Schemes
  14. ^ Pyramid Schemes Illegal Under Section 83c of the Banking Act of Sri Lanka Department of Government Printing, Sri Lanka
  15. ^ à ‚à ‰à à à à à €à žà à ˆà à €à •à à à ƒà ™à à à šà šà ˜à à à à à ˆà ‚à à à •à à ‡à à à à ˜à à à à à ˆà žà à à à à à ” by Thai Direct Selling Association (in Thai)
  16. ^ Pyramid Schemes Debra A. Valentine, General Counsel, Federal Trade Commission
  17. ^ a b Carroll, Robert Todd (2003). The Skeptic’s Dictionary: A Collection of Strange Beliefs, Amusing Deceptions, and Dangerous Delusions. Wiley. pp. 235. ISBN 0471272426.
  18. ^ a b Coenen, Tracy (2009). Expert Fraud Investigation: A Step-by-Step Guide. Wiley. pp. 168. ISBN 0470387963.
  19. ^ a b Ogunjobi, Timi (2008). SCAMS – and how to protect yourself from them. Tee Publishing. pp. 13–19.
  20. ^ a b Salinger (Editor), Lawrence M. (2005). Encyclopedia of White-Collar & Corporate Crime. 2. Sage Publishing. pp. 880. ISBN 0761930043.
  21. ^ Sowell, Thomas (March 23, 2002). “Social Security: The Enron That Politicians Have In the Closet”. Capitalism Magazine (Bahamas 2000, Ltd. published). http://www.capitalismmagazine.com/index.php?news=1505. Retrieved April 10, 2010.
  22. ^ Pyramid selling scam that preys on women to be banned
  23. ^ Pyramid Schemes, May 13, 1998″ Federal Trade Commission
  24. ^ Edwards, Paul (1997). Franchising & licensing: two powerful ways to grow your business in any economy. Tarcher. pp. 356. ISBN 0874778980.
  25. ^ Clegg, Brian (2000). The invisible customer: strategies for successive customer service down the wire. Kogan Page. pp. 112. ISBN 074943144X.
  26. ^ Higgs, Philip; Smith, Jane (2007). Rethinking Our World. Juta Academic. pp. 30. ISBN 0702172553.
  27. ^ Kitching, Trevor (2001). Purchasing scams and how to avoid them. Gower Publishing Company. pp. 4. ISBN 0566082810.
  28. ^ Mendelsohn, Martin (2004). The guide to franchising. Cengage Learning Business Press. pp. 36. ISBN 1844801624.
  29. ^ Blythe, Jim (2004). Sales & Key Account Management. Cengage Learning Business Press. pp. 278. ISBN 1844800237.
  30. ^ Facts for Consumers; The Bottom Line About Multilevel Marketing Plans and Pyramid Schemes Federal Trade Commission
  31. ^ Facts for Consumers; The Bottom Line About Multilevel Marketing Plans and Pyramid Schemes Federal Trade Commission
  32. ^ FTC Charges Internet Mall Is a Pyramid Scam Federal Trade Commission
  33. ^ Gardaà hold firearm after pyramid scheme incident Irish Examiner
  34. ^ National Consumer Agency Ireland
  35. ^ Colombians riot over pyramid scam. Colombia: BBC news. Nov 13, 2008. http://news.bbc.co.uk/2/hi/americas/7726069.stm.
  • The Fraudsters – How Con Artists Steal Your Money Chapter 9, Pyramids of Sand (ISBN 978-1-903582-82-4) by Eamon Dillon, published September 2008 by Merlin Publishing, Ireland

[edit] External links

Scams and confidence tricks See also Fictional con artists and List of Ponzi schemes Terminology Notable scams and
confidence tricks Internet scams and
countermeasures Pyramid and
Ponzi schemes

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10 Niches To Make Money From in 2009

| Author Money

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Yesterday I was reading this article from Forbes about the 10 things that people are still buying even in this down economy. After reading it, I realized that Forbes just outed 10 hot niches for 2009. I thought I’d share them with you and comment on how you might make money with a few of them.

The first thing according to Forbes that we Consumers are still spending money on is Smart Phones. If I was in this niche, I would concentrate on building sites over a specific phone. Say, the Blackberry Storm or a Samsung. The iPhone niche is very competitive and unless you already have a authority website about iPhone’s, I’d stay away and go after one of the other lesser known Smart Phones.

Video Games and Consoles are the second item on the list in the Forbes article. Their theory on why we’re still buying this is that Consumers want a quick escape from reality. I say it’s because Video Games are addictive and addicts buy stuff! Whatever the reason, people are still buying them in droves. Pick a game and build a site around it. Websites about the Wii, PlayStation and XBox are really popular. Unless you can come up with an unique angle, I’d concentrate on picking a game since the Console market is flooded right now.

Gym memberships are also on the list. I’m not sure why people would cut back on their spending then blow bucks on a Gym membership when you can get a decent workout at home or by walking/jogging around your neighborhood, but Forbes says it’s so. I’ll just stick with my Health niches and maybe write some articles on Gym reviews if I need that traffic.

Personal care also made the list of things we keep spending money on. This would be an easy one to implement with Health. You could also start a affiliate site with a lot of persona care items. Just research the niche and try to find one not full of big players like Johnson and Johnson.

Toy building sets also made the top 10. This one surprised me a bit and I’m still not sure if they mean the Toy Building Sets their self or Toys in general. Their theory is that it’s hard to say NO to you kids. There’s a lot of truth behind that statement as I can relate to that! The article says that Lego sales were up 12 percent in 2008! In November, the word “Lego” was searched for over 673,000 times according to the Google Keyword tool. Anyone have a Lego blog?

Car Maintenance is also on the list. Consumers aren’t rushing out and buying a new car now days but they are spending money on the ones the do have. This would be a good niche if you could find some specific products and build an affiliate site around them. Everything from products that clean and beautify your car to performance enhancing products would be good sellers.

Another surprise for me on this list was Dress Casual Shoes. Google shows 33,000 searches for Casual Shoes and 49,000 searches for Dress Shoes. Grab a domain with the words Dress Casual Shoes in it and you have several options to profit from this niche. A blog reviewing Casual and Dress shoes to an affiliate site selling both Casual and Dress shoes would be a hit if you can rank the site on page one of the Google SERPS.

Restaurants was on the list also. Most specifically fast food chains as people are looking for inexpensive meals. I’ve always thought about starting a blog and reviewing the popular menu items at fast food places since I eat out a lot. But I just haven’t had the time.

Movie tickets took my be surprise also. I guess the American Family is looking for alternatives when it comes to entertainment. The article says that attendance is down but profits rose in 2008. I’m not sure how good a niche this would be because I the prices of everything at Theaters are outrageous these days. I also believe services like NetFlix, Blockbuster and Red Box have taken a big chunk of money away from the Theaters. But hey, maybe you can get an unique angle on this niche and make some money from it.

Netbooks is a niche I think some money could be made at. These are relatively new to the market and due to the low price, becoming more and more popular. Review sites and affiliate sites would be a good way to monetize these niches.

If you were looking for something to make money from in 2009, the above 10 hot niches should do you well. Several have been good niches for years and will likely be so in the future. Do some research on them and pick one or two and give them a try!

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More New Ways to Make Money Online

| Author Money

TechPinas : The Philippine Technology Blog

TechPinas – Philippines’ Technology and Gadgets News Blog – News and Reviews that the Global Online Filipino has to know. Gawa ng Pilipino, Para sa Pilipino.

DISCLAIMER: The company logos (Apple, Google) shown in the Popular Categories tab of this site are properties of the companies they represent (Apple Inc. and Google Inc.) while the product photos (ThinkPad, iPhone ,Intel Netbook)shown are properties of the companies that manufacture the products (Lenovo, Apple and Intel, respectively). TechPinas is not in any way claiming ownership of these collaterals.

SPOTTED! Section merely COLLATES photos and/or videos of Pinoy Celebrities holding or near gadgets. These photos and/or videos have already been published previously by other parties online. Note that just because a celebrity is shown with a gadget does NOT mean that he/she already endorses the gadget’s brand – unless otherwise specified. Any photo can be taken down without ado upon request of the Celebrity and/or his/her management and/or the photos and/or videos true owner. In line with the vision of TechPinas, the goal of SPOTTED! section is simply to make every Pinoy feel that everyone can be techie and that technology is not something so far that it can’t be reached.


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Runescape – How to Make Millions

| Author Money

The Basics :

Most runescape guides you read will often tell you that reaching level 99 wood cutting
at level 3 is the fastest way to get rich, THIS IS WRONG, i cant understand how
spending weeks getting a level 3 player to level 99 woodcutting is fast at all. This short
guide will explain a few very simple ways to be able to afford that new set of dragon legs
you wanted in less than ONE DAY!!!.

How To Start :

Firstly You need level 10 construction, even starting from level 1 this is easily done
within an hour and will cost around 20k. After reaching level 10 construction
you will need to complete a very short and easy quest which is the last step before
you can start making your millions. See below for a quick summary of the quest.

The Tower Of Life :

  • To start this quest head to the tower south of ardougne, next to the necromancer’s
    tower
  • Speak to Effigy about convincing his workers to rebuild the tower
  • Speak to Bonafido and ask him to enter, he will complain your not dressed right
  • Speak to every worker around the tower then pickpocket “No fingers” for boots
  • Speak to Guns he will ask for a beer in exchange for his top
  • Speak to gummy, then search the bushes at the south east side of the tower
  • Speak to black eye and answer his questions
  • Speak to Bonafido and answer his questions
  • Go into the tower and collect the following from the crates :
    coloured balls,
    3 metal sheets,
    4 valve wheels,
    6 rivets,
    4 pipes,
    5 metal bars,
    4 binding fluids
  • Fix the pressure machine and complete the short mini game
  • Fix the pipe maching and complete the short mini game
  • Fix the cage and complete the short mini game
  • Back outside to speak with Effigy (then to the top of the tower and back down)
  • Speak to the creature and answer his questions until he is either full logic or magic
  • Quest Complete, Prepare To Make Millions

Preparing To Make The Cash

Depending on your level and how long you’ve been playing you can do this next bit
one of two ways, search around and buy between 1k and 5k cow hides (untanned),
or kill cows (best spot is near lumby) and obtain the hides yourself. You may think
spending money on the hides is expensive but they only cost around 130ea and the
profit you will make per 1 cowhide is over 15 TIMES the value of the hide. After
you have obtained the cow hides head just east of catherby and kill a unicorn for
its horn, after this you have everything you need to start your way…

Earning The Money

Now you have your hides and your completed quest, travel to south ardougne bank
and withdraw 13 of your cow hides and you 1 unicorn horn, if your combat level
is over 50 you will not need any food and only basic armor and a weapon.
Travel back to the tower of life and head down into the basement. Walk to the
northwest room and place 1 cowhide and 1 unicorn horn on the altar of life,
after doing this right click the altar and press activate this will summon a
Unicow, these lvl 26 half unicorn half cows are your ticket to becoming a runescape
millionaire, for each unicow you kill you will receive between 2-4 unicorn horns. How
does this help me make money i hear you ask, simple, Herblaw is a big profit market
on runescape and unicorn horns are very hard to come by using any other method
except this one. You can sell the horns for 2k each easily. It takes around 7 minutes
to complete 1 full inventory of horns (27) and bank them.

This means in 7 minutes
you have earned 54k, so in just over an hour that would be closer to 550k thats 500k
an hour, just think how many hours you have sat at catherby fishing silly lobsters or
cutting trees for days on end, there is no easier,faster way to make millions than
the method i have described. I hope this helps all you runescape nuts out there

Cost Vs Profit

1000 Cowhides will cost around 130k, your guaranteed at least 2 unicorn horns
for every 1 cow hide. 1 cow hide 150 gold 2 unicorn horns 4k gold. Short and sweet
thats a profit increase of 225% per hide, only Microsoft make that kind of profit,
until now….

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(Make Money Fast At Home)**REVEALED**Omari Taylor

| Author Money

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Free Paid Surveys | Online Surveys

| Author Money

Canadian Paid Surveys

Canada paid surveys are one of the best way a Canadian can make some extra money on the internet.

Imagine getting rewarded just for completing online surveys about the latest Canadian products and services.

If you are a Canadian looking for the best Canadian free paid surveys panel to join, below are list of the top Canada paid surveys.

Sign up free with these Canadian survey panels and you might win cash or prizes for taking internet market research surveys.

Top Canada Free Paid Surveys

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Web Perspectives Canada Research Panel – More than 400,000 Canadians have already joined Web Perspectives Canada Research Panel and are being rewarded for taking their fast and free online surveys

NPD Online Surveys Canada – Join NPD Online Surveys Canada and you can win cash or prizes for giving your opinions.

NPD Online Surveys Canada Women Panel – NPD Online Surveys Canada are seeking Canadian women to join their consumer research panel. This is a specialize research panel aimed at Canadian women products and services.

NPD Online Surveys Canada Men Panel – Canadian mens are invited to join NPD Online Surveys Canada Men Panel and you could have the chance to win cash and prizes just for registering. In addition, you’ll have the opportunity to share your opinion with decision-makers worldwide. This is a specialize research panel aimed at Canadian men products and services.

Survey Club Canada – Find here list of Canadian paid surveys.

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Canada Survey Panel – At Canada Survey Panel they find opportunites for Canadians to partake in market research and earn cash and rewards. Companies and governments in Canada are very interested in the opinions of consumers and citizens like you. They conduct surveys about new products and services and use that information to influence their marketing and projects.

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How to make a lot of Money in Runescape

| Author Money

Friendly Greetings! I am back once again to tell you the secrets of making a lot of money in Runescape. As you know, making money in Runescape can be hard work, especially if you are using an out dated method. Some people might tell you that you have to be a certain level to make millions of gold. The truth is you can make loads of money at level 3! There are tons of ways to make money in this game. All you have to do is work.

Since I am on the subject of making money at level 3, let me go ahead and tell you a method that can be started as soon as you get off Tutorial Island. After you land in the Lumbridge Castle, go kill some cows and pick up their hides. Then, go bank the hides. You can bank them in the Lumbridge Castle bank or in the dessert. Killing the cows will also give you some good experience points. This will help you level up so you can move on to other methods. After you get about 100 go to the Grand Exchange and sell them for the minimum price. The minimum price right now is about 104 gp each. (These prices change practically daily, so to know the exact price you will have to go see it for yourself.) If you have 100 cowhides and you sell them for 104 Gold each, you will have made 10,400 gp. That’s pretty good for 4 trips to the bank, isn’t it? If you saved them up and you collected 1,000 cowhides, you could make 104,000 gp.

Make a lot of Money in Runescape

Now, that’s good money to start you out in the beginning, but getting 1000 cow hides takes time, and 104,000 gp is not a lot. So, if you are a higher level, I suggest doing the Rune Mysteries quest so you can mine Pure Essence. They sell for around 139 each. It is not a lot more, but if you mine 1000 of those and sell at 139 each, you will make 139,000 gp. It’s about 30,000 more gold for a little more time. Of course making millions with this way, or cowhides as well, will take time. Any method will take time. There is no instant method to get rich, they all take hard work.

For Pay to Play members, you could go pick Flax. They only sell at 80 GP minimum price. This is because Flax is faster to pick and bank than Cowhides or Pure Essence. 80 GP is not enough money at all. That’s why you add another step. Spin the Flax into Bow Strings. These sell for a minimum of 167 GP each. If you have 1000 Bow Strings, that’s 167,000 GP. Still a lot of work, but you will get a lot of money as well.

Now, if you want a little bit more money for your work, chop some yews. They sell at a minimum of 440 each. That means 440,000 for 1000 of them. If you want even more money, take those yews and turn them into Yew Longbows. Yew Longbows sell for a whopping 627 each minimum! That’s 627,000 for 1000 of them. It takes awhile to make Yew Longbows, but if you are dedicated to making millions, sell 10,000 of them and then retire. (By the way, 10,000 Yew Longbows = 6,270,000!)

If you want even more money than that, then get out that Dragon Axe and start chopping Magic Trees. Just one Magic Log sells for 1,231 gold! That means if you cut just 1000 of them, you will have 1,231,000! Cut 10,000 and you will have 12,310,000!! Magic trees take a long time to cut. As I have said, if you work hard, you can make millions of gold on Runescape.

Now you know how to make a lot of money in Runescape. It’s easy if you are willing to work for it. Trust me, that Dragon Long Sword is worth all the work. Good luck and happy money making! Haha!

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Cash For Writing Down License Plates (Narcthatcar)

| Author Money

#70 Posted: 7 Feb 2010 23:58 Edited by: TJamMoneyMan


Yes, because “there’s a sucker born every minute!”

There will always be folks who will join in a venture, like this for example, based on the type of exaggerated income claims and blatant ad copy posted here, without doing RESEARCH.
This even though there is information out there, and forums like this one which would save them the loss of lots of money.

One thing is for sure, this is NOT about getting paid for writing down license plate numbers!
You get paid for recruiting a huge downline.

They only pay you for a max of 10 plates a month so how much money can you earn that way? You MUST have a downline. You must have a group of 12 to get paid.
So although they say “you don’t have to sell anything” you have to SELL this idea to 12 people or you will NOT get paid.

Yes, no doubt there will always be someone to take the bait. Hoping to be one of those at the top of the pyramid.

But any marketer should know that ‘running out of people’, is NOT the argument!
It is market saturation of course.
Even if this ‘information’ were valuable, there are only so many folks who can offer it.
Only so many clients are available who would pay.

But the folks at the bottom of the pyramid will still need to recruit, recruit, recruit.
Which of course creates a new ‘bottom’ with the same recruiting need.

The market is not saturated when you ‘run out of people’ but long before that when there are just too many distributors offering the product, to what soon becomes too few ‘clients’.

Consider this quote from mlm-thetruth.com:
MLM promoters who claim that saturation never occurs are referring to total saturation, which never would or could occur. It is absurd to assume that in a city of 100,000 people, 100,000 MLM distributors would be needed. The city may accommodate 10 or 20 distributors before the market is saturated, in that each new recruit would find it tougher and tougher to recruit more participants. So it is market saturation, not total saturation that is relevant to the analysis.



“The product being sold” means nothing as far as this being an illegal (if it is) pyramid is concerned.
The issue as to the illegal/unethical status of a pyramid has to do with the source of income, and the need for an ‘endless chain’ of recruiting.

Look into product based pyramids at:
www.mlm-thetruth.com
www.pyramidschemealert.org

A quote from one of those sites:

Many assume that since MLM chain sellers offer legitimate products they cause less losses than naked, no-product pyramid schemes. The facts show otherwise. Extensive research correlating the compensation plans with financial reports of leading MLMs and analyses of other classes of chain selling schemes leads to the conclusion that of all classes of pyramid/chain selling schemes, those that do the most harm are MLMs (product-based pyramid schemes) by any measure – leverage, loss rates, aggregate losses, or number of victims.In fact, statistical reports show that joining an MLM makes a bet on snake eyes in a game of craps at Caesar’s Palace in Las Vegas look like a safe bet in comparison.


Yes, “if MLM’s are so bad, what about Amway?”, goes the retort.

Just do the research:
http://www.amquix.info/amway.html

And consider this quote from Forbes Mag:
“One must turn outside the world of business – to religion and
politics – to find people who work as hard for as little
financial reward as most Amway people do.” Forbes Magazine


Yes.

Any sober individual should be leery of the claims posted here and simply RESEARCH before paying into something.

With 15,000 people paying $400 per year – I’d love to know where that SIX MILLION DOLLARS PER YEAR goes!

__________________

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Home Based Business Scams

| Author Money

Don’t get taken by these common work at home
and home based business scams: Internet ScamBusters #61

Help support Scambusters
when you shop here at Amazon

Internet ScamBusters™
By Audri and Jim Lanford
Copyright Audri and Jim Lanford.
All rights reserved.
Issue #61

Hi everyone:

Today’s issue is about a very important topic that we’ve never covered in depth before: home-based business scams and work-at-home scams.

However, before we get going, an important point:

The FBI reports Web fraud claims rose sharply in 2002. In fact, they *tripled* from a year earlier. Not a surprise to Internet ScamBusters readers.

OK. Let’s get started…

Top 10 Work At Home and Home Based Business Scams and How to Avoid Them – Part 1 Home-based business and work-at-home opportunity scams rank very high on the list of the top types of Internet fraud.

In this issue, we’ll focus on the Top 10 home-based business/work-at-home scams. We’ll give you the straight goods on envelope stuffing, mystery shopping, and other common home-based business “opportunities” you may have seen floating around the Net.

Then in the next issue, we’ll give you some important tips you can use to kick the tires of any online job offers or business opportunities you find so you can protect yourself from those that are scams.

Work-At-Home and Home-Based Business Scams

There are two basic types of scams involved here. Scammers using both types are aiming at folks who want to make money from home, either by:

1. Having you work from home, doing envelope stuffing, craft assembly, or other tasks where you are (supposedly) paid by a company as an employee.

There are certainly some legitimate telecommuting jobs, but work-from-home jobs are often just big scams.

Before we go any further, a sobering quote: “There are very few legitimate [work-at-home job] opportunities available,” says Beverley Williams, President and Founder of the American Association of Home-Based Businesses.

2. “Helping” you start your own home-based business, as a mystery shopper, network marketer, or other businesses where the only money anyone sees is the money the scammer pockets.

Certainly, there are LOTS of legitimate businesses that can help you start your own home business. We’ll help you figure out which are real — and which are just scams.

Our goal with Internet ScamBusters is to save you time, money and heartbreak before you fall for the scams. Remember — if it sounds too good to be true… *it probably is*.

Why Are These Scams So Successful?

It all comes down to psychology. Besides the “make money fast” dream that many Internet newcomers fall prey to, home-based “opportunities” scammers mooch off the following groups. Perhaps you belong to one or more of them:

1. The Sick, Disabled, or Elderly: If you are elderly, ill, or have a disability, you may have problems landing a traditional job.

2. The Stay-At-Home Mother: Whether you have a spouse or you’re single, you may be looking to supplement or create an income while raising children.

3. The Low-Income or No-Income Family: You or your spouse may have just lost your job, and you feel desperate and anxious to find work as the bills pile up.

4. The Person Without Higher Education: You’re not stupid or dumb — you just didn’t go on to college or university.

To summarize, these scammers are often preying primarily on the sick, the disabled, the elderly, the unemployed, parents, and people without a lot of money.

The Top 10 Home-Based Business/Work-At-Home Scams Note: These scams are not ranked by dollars lost or people scammed. In fact, there’s nothing scientific about the list. It’s just the ten home-based business scams we find the most disturbing.

10. Craft Assembly

This scam encourages you to assemble toys, dolls, or other craft projects at home with the promise of high per-piece rates. All you have to do is pay a fee up-front for the starter kit… which includes instructions and parts.

Sounds good? Well, once you finish assembling your first batch of crafts, you’ll be told by the company that they “don’t meet our specifications.”

In fact, even if you were a robot and did it perfectly, it would be impossible for you to meet their specifications. The scammer company is making money selling the starter kits — not selling the assembled product. So, you’re left with a set of assembled crafts… and no one to sell them to.

9. Medical Billing

In this scam, you pay $300-$900 for everything (supposedly) you need to start your own medical billing service at home. You’re promised state-of-the-art medical billing software, as well as a list of potential clients in your area.

What you’re not told is that most medical clinics process their own bills, or outsource the processing to firms, not individuals. Your software may not meet their specifications, and often the lists of “potential clients” are outdated or just plain wrong.

As usual, trying to get a refund from the medical billing company is like trying to get blood from a stone.

8. Email Processing

This is a twist on the classic “envelope stuffing scam” (see #1 below). For a low price ($50?) you can become a “highly-paid” email processor working “from the comfort of your own home.”

Now… what do you suppose an email processor does? If you have visions of forwarding or editing emails, forget it. What you get for your money are instructions on spamming the same ad you responded to in newsgroups and Web forums!

Think about it — they offer to pay you $25 per email processed — would any legitimate company pay that?

7. “A List of Companies Looking for Homeworkers!”

In this one, you pay a small fee for a list of companies looking for homeworkers just like you.

The only problem is that the list is usually a generic list of companies, companies that don’t take homeworkers, or companies that may have accepted homeworkers long, long ago. Don’t expect to get your money back with this one.

6. “Just Call This 1-900 Number For More Information…”

No need to spend too much time (or money) on this one. 1-900 numbers cost money to call, and that’s how the scammers make their profit.

Save your money — don’t call a 1-900 number for more information about a supposed work-at-home job.

5. Typing At Home

If you use the Internet a lot, then odds are that you’re probably a good typist. How better to capitalize on it than making money by typing at home?

Here’s how it works: After sending the fee to the scammer for “more information,” you receive a disk and printed information that tells you to place home typist ads and sell copies of the disk to the suckers who reply to you. Like #8, this scam tries to turn you into a scammer!

4. “Turn Your Computer Into a Money-Making Machine!”

Well, this one’s at least half-true. To be completely true, it should read: “Turn your computer into a money-making machine… for spammers!”

This is much the same spam as #5, above. Once you pay your money, you’ll be sent instructions on how to place ads and pull in suckers to “turn their computers into money-making machines.”

3. Multi-Level Marketing (MLM)

If you’ve heard of network marketing (like Amway), then you know that there are legitimate MLM businesses based on agents selling products or services.

One big problem with MLMs, though, is when the pyramid and the ladder-climbing become more important than selling the actual product or service.

If the MLM business opportunity is all about finding new recruits rather than selling products or services, beware: The Federal Trade Commission may consider it to be a pyramid scheme… and not only can you lose all your money, but you can be charged with fraud, too!

We saw an interesting MLM scam recently: one MLM company advertised the product they were selling as FREE. The fine print, however, states that it is “free in the sense that you could be earning commissions and bonuses in excess of the cost of your monthly purchase of” the product. Does that sound like free to you?

2. Chain Letters/Emails (“Make Money Fast”)

If you’ve been on the Internet for any length of time, you’ve probably received or at least seen these chain emails. They promise that all you have to do is send the email along plus some money by mail to the top names on the list, then add your name to the bottom… and one day you’ll be a millionaire.

Actually, the only thing you might be one day is prosecuted for fraud. This is a classic pyramid scheme, and most times the names in the chain emails are manipulated to make sure only the people at the top of the list (the true scammers) make any money.

This scam should be called “Lose Money Fast” — and it’s illegal.

1. Envelope Stuffing

This is THE classic work-at-home scam. It’s been around since the U.S. Depression of the 1920s and 1930s, and it’s moved onto the Internet like a cockroach you just can’t eliminate.

There are several variations, but here’s a sample: Much like #5 and #4 above, you are promised to be paid $1-2 for every envelope you stuff. All you have to do is send money and you’re guaranteed “up to 1,000 envelopes a week that you can stuff… with postage and address already affixed!”

When you send your money, you get a short manual with flyer templates you’re supposed to put up around town, advertising yet another harebrained work-from-home scheme.

And the pre-addressed, pre-paid envelopes? Well, when people see those flyers, all they have to do is send you $2.00 in a pre-addressed, pre-paid envelope. Then you stuff that envelope with another flyer and send it to them.

Ingenious perhaps… but certainly illegal and unethical.

In the next issue we’ll share 10 tips on avoiding home-based business/work-at-home scams.

Wishing you a scam-free month!

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Black money scam

| Author Money

From Wikipedia, the free encyclopedia This article needs additional citations for verification.
Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (November 2009)

The black money scam, sometimes also known as the ‘wash wash scam’, is a scam where con artists attempt to fraudulently obtain money from a victim by persuading him or her that piles of banknote-sized paper in a trunk or a safe is really money which has been dyed black (e.g. to avoid detection by customs). The victim is persuaded to pay for chemicals to wash the “money” with a promise that he will share in the proceeds.

The black money scam first appeared around the year 2000. It is yet another variation of what is known as advance fee fraud.

  • 1 Phases of the scam
    • 1.1 First contact
    • 1.2 Advance fees: the fraud starts
    • 1.3 A trunk full of black money?
    • 1.4 Victim goes to see the “money”
    • 1.5 Washing a small sample of the black “money”
    • 1.6 More funds needed to pay for washing chemical fluid
    • 1.7 Delay after delay, more fees, no money
    • 1.8 Reporting of the crime
    • 1.9 Terminology used in the scam
  • 2 Chemicals used
  • 3 References
  • 4 External links

[edit] Phases of the scam [edit] First contact

Typically the scammer will send out thousands, if not millions of e-mails to known and random e-mail addresses, hoping for a few replies. The initial message may read something like this:

I am a lawyer in Belgium and I am charged with seeking the rightful heir to certain assets which were deposited many years ago with a security company here in Brussels by a man who died a few years ago. We have made extensive searches to find any living heirs, but without success. A man with your name is named in the Will and Testament as being the only beneficiary of these assets. We believe that you may be the person entitled and are writing to enquire if you have any dead relatives or friends who may have named you as a beneficiary of these assets in their will and testament. If so please let us have their names and any other information so we can check if you are indeed the beneficiary. The amount of the assets is $150’000, and one large trunk, contents unknown. Please reply immediately

Sometimes however, the scammer resorts to directly approaching the victim.

[edit] Advance fees: the fraud starts

As the communications between the two parties continue, it will become necessary for certain fees and expenses to be paid, including government taxes, or death duties. In reality, there are no such taxes to be paid. However the need to pay fees or taxes is used as an excuse to make any free funds vanish, and/or to extract funds from the victim.

[edit] A trunk full of black money?

Eventually by various means and devices the victim will be persuaded that the trunk contains a very large amount of cash which had a legitimate, or not so legitimate, reason for all this money to be in cash. Furthermore, the money has all been stained black to avoid detection by customs. A valid reason for this will be given: “The deceased traded in African artifacts and had to pay for some expensive items in cash before he died. To avoid customs problems and theft the money had to be stained black” The victim is assured that the chemical needed for washing the money is also in the trunk.

The victim may have already coughed up some money to pay fees and taxes, and he may now be invited to pay the shipping expenses of the trunk to his home country. Whether paid or not, the trunk will not be shipped and further sums will be demanded on various pretexts, such as taxes, security company fees, money transfer fees, legalization fees, export permissions, etc. The list is endless.

[edit] Victim goes to see the “money”

When at some point the victim is having doubts, or showing reluctance to pay any more, he will be invited to inspect the contents of the safety deposit trunk himself. With much ceremony and pomp, the box will be opened to reveal the black paper. The victim will be informed that these are banknotes stained black with an almost unwashable chemical but that a chemical exists which can clean the banknotes.

[edit] Washing a small sample of the black “money”

Then the conman will produce a small vial of the washing liquid and ask the victim to select any black bank note at random. This done, the conman proceeds to wash the banknote in the chemical, performing a sleight of hand, substituting real note which is washed. There will be insufficient liquid to wash any more money, or the conman may “accidentally” knock the bottle over on the floor.

[edit] More funds needed to pay for washing chemical fluid

The victim cannot take away the trunk, or any notes, since he is informed that the taxes have not been paid, but once the notes are “washed”, it will be easy to pay the taxes and there will be millions left over. The victim is persuaded that he must buy the chemical to wash the notes, and of course the chemical cleaning fluid is “very expensive”. Once again the victim parts with money to the fraudster. Sometimes the fraudsters will set up a website purporting to be a seller of the cleaning fluid, which obviously has such a unique and unusual name that it can not be found anywhere else. This adds to the credibility of the story and the victim may even contact the website directly to buy the fluid, allowing the conmen yet another chance to con the victim.

[edit] Delay after delay, more fees, no money

The fraudsters will continue to find excuses as to why the victim cannot have his money just yet, but will always promise it after one “last and absolutely final step”, which obviously involves the payment of yet another fee by the victim. The scammers will continue to milk the victim until they are sure he has no more money, and that he cannot get any by begging and borrowing from friends or banks, or until the victim realizes that he is being scammed, and gets the police involved. Needless to say, the fraudsters themselves, and the victim’s money, are usually long gone by the time the police are involved.

[edit] Reporting of the crime

Most such frauds are not reported by the victims for several reasons. Firstly they may feel terribly ashamed that they could be so naà ve. Secondly, many of the scams will involve the victim knowingly agreeing to receive the proceeds of a crime – e.g. he may be informed that it is drug money, tax evasion money, or simply stolen. Sometimes the scammer will have persuaded the victim to incriminate himself, e.g. by falsifying a document, or lying on a tax declaration etc. The victim may thus be reluctant to come forward and admit that he was knowingly participating in what he thought was a criminal scheme.

[edit] Terminology used in the scam

  • The defaced money
    • Anti-breeze bank notes
    • Black Money
  • The chemical
    • S.S.D. Solution
    • Vectrol Paste
    • Tebi-Manetic
    • Humine Powder

[edit] Chemicals used

A Ghanaian native caught perpetrating the scam revealed to ABC News Chief Investigative Correspondent Brian Ross the tricks of the trade:[1] Real hundred dollar bills are coated with a protective layer of Elmer’s glue, and then dipped into a solution of tincture of iodine. The bill, when dried, looks and feels like black construction paper. The trunk full of notes are real construction paper; When the victim picks a “note” for cleaning, it is switched with the iodine coated note. The “magic cleaning solution” is actually crushed vitamin C tablets dissolved in water. In another arrest, ordinary raspberry cool drink was found to be the “magic cleaning solution”.

[edit] References This article’s citation style may be unclear. The references used may be made clearer with a different or consistent style of citation, footnoting, or external linking. [edit] External links

Scams and confidence tricks See also Fictional con artists and List of Ponzi schemes Terminology Notable scams and
confidence tricks Internet scams and
countermeasures Pyramid and
Ponzi schemes

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