Comments on: Suckered by a pyramid scheme http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/ Money Magazine looks at a wide range of personal finance issues and asks for your feedback. Tue, 22 Dec 2009 00:19:01 +0000 http://wordpress.com/ hourly 1 By: Chris, Wilmington, DE http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13937 Chris, Wilmington, DE Fri, 19 Dec 2008 16:26:49 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13937 DREW, Do you believe that everyone that disagrees with your opinion an idiot? Also, please do not talk about someone's education level while you make grammatical/spelling errors in your comment (i.e. “Dont make any sence does it?”). DREW,

Do you believe that everyone that disagrees with your opinion an idiot?

Also, please do not talk about someone's education level while you make grammatical/spelling errors in your comment (i.e. “Dont make any sence does it?”).

]]> By: Drew, Dallas, TX http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13936 Drew, Dallas, TX Mon, 01 Dec 2008 22:31:14 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13936 One more thing I forgot to mention. This is for the guy who said if its too good to be true it must be, YOU ARE AN IDIOT! Have you ever heard anyone say its too bad to be true? Dont make any sence does it? Who tought you that by the way, your broke parents? If it sounds too good to be true, do the research and get your info from a good source.(not Uncle Jim who works at the local wal-mart) Thats why people fail financially, its because they get thier advice from other broke people who dont know nothing about nothing when it comes to business or making and investing money. They learn things like "If its too good to be true it must be" and "money is the root of all evil". How can you have something that you think is evil? One more thing I forgot to mention. This is for the guy who said if its too good to be true it must be, YOU ARE AN IDIOT! Have you ever heard anyone say its too bad to be true? Dont make any sence does it? Who tought you that by the way, your broke parents? If it sounds too good to be true, do the research and get your info from a good source.(not Uncle Jim who works at the local wal-mart) Thats why people fail financially, its because they get thier advice from other broke people who dont know nothing about nothing when it comes to business or making and investing money. They learn things like "If its too good to be true it must be" and "money is the root of all evil". How can you have something that you think is evil?

]]> By: Drew, Dallas, TX http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13935 Drew, Dallas, TX Mon, 01 Dec 2008 22:20:30 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13935 who ever said 10% should raise red flags is an idot! There are s&p stock index mutual funds that have averaged 13% over the last 30 years. Its not the timing in the market its the time in the market. Most of the people that post on this site really need to do some research and get their information from someone who really knows what they are talking about. Instead most people just state thier opinion. Thats why most people are broke! who ever said 10% should raise red flags is an idot! There are s&p stock index mutual funds that have averaged 13% over the last 30 years. Its not the timing in the market its the time in the market. Most of the people that post on this site really need to do some research and get their information from someone who really knows what they are talking about. Instead most people just state thier opinion. Thats why most people are broke!

]]> By: Omaha, Ne http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13934 Omaha, Ne Mon, 27 Oct 2008 18:13:34 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13934 I would be leary to invest in any company with a CEO named "Fluker"... I would be leary to invest in any company with a CEO named "Fluker"…

]]> By: Jan Bellevue , Ne http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13933 Jan Bellevue , Ne Sun, 26 Oct 2008 19:35:24 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13933 The scams are more prevelant than ever before and the suckers that the scam artists are preying on are the millions of cash strapped people from all economic income levels out there looking for a quick fix to get out of debt . Buying into these scams will only bury you deeper into debt . They're even aware of the people who were smart enough to haved saved their money hoping to get them to part with their retirement or any other savings they have preserved . I just pulled one of many repeat mailings out of my mailbox a few hours ago titled , " how to turn my portfolio into a perpetual money machine " . These scam artists are very clever and creative . I'm clever enough to shred their offers in my paper shredder . I'm debt free and will retire comfortably within 5 months . I paid off thousands off $$ of debt by working hard and have stayed out of debt by paying my bills and not living beyond my means . I avoid the scams that reach my mailbox and delete the offers as spam that are in my email . There's not much room for trust in this society especially in times that are upon us . The scams are more prevelant than ever before and the suckers that the scam artists are preying on are the millions of cash strapped people from all economic income levels out there looking for a quick fix to get out of debt . Buying into these scams will only bury you deeper into debt . They're even aware of the people who were smart enough to haved saved their money hoping to get them to part with their retirement or any other savings they have preserved . I just pulled one of many repeat mailings out of my mailbox a few hours ago titled , " how to turn my portfolio into a perpetual money machine " . These scam artists are very clever and creative . I'm clever enough to shred their offers in my paper shredder . I'm debt free and will retire comfortably within 5 months . I paid off thousands off $$ of debt by working hard and have stayed out of debt by paying my bills and not living beyond my means . I avoid the scams that reach my mailbox and delete the offers as spam that are in my email . There's not much room for trust in this society especially in times that are upon us .

]]> By: Chris M., Torrance, California http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13946 Chris M., Torrance, California Sun, 26 Oct 2008 09:16:00 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13946 The correct term is a Ponzi Scheme not a pyramid scheme. A little knowledge is dangerous...do some research before you call a spade a spade! Oh yeah...The guy is still an idiot for believing in a 25% return! The correct term is a Ponzi Scheme not a pyramid scheme. A little knowledge is dangerous…do some research before you call a spade a spade! Oh yeah…The guy is still an idiot for believing in a 25% return!

]]> By: Armin, Dallas, TX http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13947 Armin, Dallas, TX Tue, 30 Sep 2008 23:41:14 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13947 What's the deal? "A promise of an outsize return on an investment should set off an alarm in your head." Did you read your own article? Look at your sponsor link: Sponsored Links Own Your Own Oil Field! Earn 50% + Tax Benefits. We do the work, You get paid! Min $25k Inv DirectEnergyInvesting.com I didn't click on this... I'm sure there are qualifiers and "fine print", but don't blame your readers if we get confused about what to believe anymore! What's the deal?
"A promise of an outsize return on an investment should set off an alarm in your head." Did you read your own article? Look at your sponsor link:

Sponsored Links
Own Your Own Oil Field!
Earn 50% + Tax Benefits. We do the work, You get paid! Min $25k Inv
DirectEnergyInvesting.com

I didn't click on this… I'm sure there are qualifiers and "fine print", but don't blame your readers if we get confused about what to believe anymore!

]]> By: Ed Tulsa,OK http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13945 Ed Tulsa,OK Sat, 27 Sep 2008 01:27:05 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13945 it should set off an alarm that your reply of 10% a year over time in the market is the new pyramid scam it should set off an alarm that your reply of 10% a year over time in the market is the new pyramid scam

]]> By: Chip, Washington, D.C. http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13944 Chip, Washington, D.C. Fri, 26 Sep 2008 17:47:50 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13944 <b>You're an idiot!</b> Did you really think you can get a legitimate return of 25% per month? You're probably one of the same idiots that we are bailing out in this financial mess because you bought a house you can't afford and you did it with an interest only loan with a variable rate! You're an idiot!
Did you really think you can get a legitimate return of 25% per month?

You're probably one of the same idiots that we are bailing out in this financial mess because you bought a house you can't afford and you did it with an interest only loan with a variable rate!

]]> By: Chris, Philadelphia, PA http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13943 Chris, Philadelphia, PA Fri, 26 Sep 2008 16:07:58 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13943 Fleeced while attending a meeting at his local church. Classic. Like Chief Wiggum once stated, "Where's your messiah now?" Fleeced while attending a meeting at his local church. Classic. Like Chief Wiggum once stated, "Where's your messiah now?"

]]> By: Mike, Austin, TX http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13942 Mike, Austin, TX Fri, 26 Sep 2008 14:20:39 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13942 I'm sure you've heard the expression, ‘If something sounds too good to be true, it probably is.’ Well, in the investment world, I say, ‘If something sounds too good to be true, it definitely is.’ [1997 Washington Times 3 June B7] I'm sure you've heard the expression, ‘If something sounds too good to be true, it probably is.’ Well, in the investment world, I say, ‘If something sounds too good to be true, it definitely is.’
[1997 Washington Times 3 June B7]

]]> By: Jim, Lindenhurst, Illinois http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13941 Jim, Lindenhurst, Illinois Fri, 26 Sep 2008 13:33:54 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13941 When I read the headline 'Suckered by a pyramid scheme' I thought that Al Gore's carbon credit nonsense was finally recognized for what it is. Silly me. When I read the headline 'Suckered by a pyramid scheme' I thought that Al Gore's carbon credit nonsense was finally recognized for what it is. Silly me.

]]> By: common sense, ohio http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13940 common sense, ohio Fri, 26 Sep 2008 12:55:04 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13940 Ask yourself this very simple question, "If I can get 25% a month (300% for the year), by investing with these guys, why isn't everyone on the planet doing it?" What's more likely, that you found a secret gold mine or that your gullible? Have you ever heard the concept of "If it's too good to be true, it probably is." Maybe you should have your money taken from you to learn this lesson. Ask yourself this very simple question, "If I can get 25% a month (300% for the year), by investing with these guys, why isn't everyone on the planet doing it?" What's more likely, that you found a secret gold mine or that your gullible? Have you ever heard the concept of "If it's too good to be true, it probably is." Maybe you should have your money taken from you to learn this lesson.

]]> By: Paul, Montgomery, AL http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13939 Paul, Montgomery, AL Fri, 26 Sep 2008 12:43:31 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13939 For what it's worth, this is called a Ponzi scheme. For what it's worth, this is called a Ponzi scheme.

]]> By: kjad,lksdm,NY http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13938 kjad,lksdm,NY Fri, 26 Sep 2008 12:43:05 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13938 Any investment that "guarantees" returns even close to the stock market's long-term average return of about 10% is also suspicious. Any investment that "guarantees" returns even close to the stock market's long-term average return of about 10% is also suspicious.

]]> By: IDixon, Columbus, OH http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13949 IDixon, Columbus, OH Fri, 26 Sep 2008 04:24:59 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13949 A pyramid is when the top guy makes all the money and the bottom guy gets pennies ?? what about your job? do you make more than your CEO...?? I put my money in a investment firm and they collapsed. The only difference is it took them 30 years. MTE 6 months. Investment firm invested in the same thing as MTE claims they did... I wonder if MTE was still around would they ask for $700 Billion??? A pyramid is when the top guy makes all the money and the bottom guy gets pennies ?? what about your job? do you make more than your CEO…??
I put my money in a investment firm and they collapsed. The only difference is it took them 30 years. MTE 6 months. Investment firm invested in the same thing as MTE claims they did… I wonder if MTE was still around would they ask for $700 Billion???

]]> By: Dawn, Denver CO http://moremoney.blogs.money.cnn.com/2008/09/25/suckered-by-a-pyramid-scheme/#comment-13948 Dawn, Denver CO Thu, 25 Sep 2008 23:57:28 +0000 http://moneyhelps.wordpress.com/?p=36#comment-13948 These pyramid schemes always go after religious people because they have that "blind faith" thing going on and are more gullible. Sorry, I think this guy who fell for it is pretty dumb. Pyramid schemes have been a joke since the 80s. These pyramid schemes always go after religious people because they have that "blind faith" thing going on and are more gullible. Sorry, I think this guy who fell for it is pretty dumb. Pyramid schemes have been a joke since the 80s.

]]>