Fight the scammers? Repost with My Views
Posted by rabbit on March 16th, 2006
I have to re-post this message because the original one with the copy and paste email from “Herman” — a reader — was affecting the menu bar on the right. You can read the contents of the email here.
MY VIEW
While I think it is commendable for Herman to be doing this, I think the best way to fight the scammers is not to “invest” in their scams at all. He mentioned Secure Land Invest in his message. Now if you visit the site you would see that they are offering 300% in 12 days (their regular plan pays 4% daily). If this is not ridiculous enough, they also claim that they are making this from real estate. Before we put our money in programs like these we need to ask ourselves some basic questions: can these kind of returns be made from real estate? And if this were the case, would it not be better for the admin(s) to go to a bank and get a loan for 8% per annum instead of paying 4% of his / her profits daily to us?
Another thing to note. Herman suggest that we should report report e-gold to the FBI if they refuse to block a scammers account. This would be an unwise thing to do, especially in light of recent developments. Most of you probably already know that 12DailyPro was recently taken over by the SEC. Now EMOCorp — one of my favourite payment processors, is suffering a similar fate. A few days ago they were put into Receivership by the Texas State government. You can read more about this here.
The bottom line is that we need to make sure that we do not throw out the “baby with the bath water” when we are trying to put the scammers out of business. E-gold being shut down by the FBI or another government agency would affect both the good programs as well as the scams.