HYIPs and riding the Ponzi

 

People are so inventive.  This is the eye-catching headline for Riding the Ponzi: The Ultimate HYIP Investment Guide .

“Discover How to Take Back the $1000’s You Lost In HYIP Investment by Mastering the Art of “Riding the Ponzi.”

I have been writing about HYIPs (high yield investment programs) for the last couple of weeks. As we’ve learned from the Genius Funds example, people all around the world are falling for these on-line schemes in droves. Promoted heavily on the internet, these high return programs are a type of Ponzi scheme.  

I believe that it is attracting the attention of young people who use the internet for just about everything, including investing online.   

Read the story of this person who fell for an HYIP …“It sounded like a legitimate opportunity with a very high return on my investment. …The website looked professional and well polished.” Now we know why financial life skills training should be mandatory across the country.

This person, who supposedly lost serious change on an HYIP, turns adversity into opportunity by asking, “is there a legitimate way of making money off these scams?” He/she then creates a guide that shows you how to make money and “score big” with HYIPs. The manual gives step-by-step instructions on how to earn thousands by investing in Ponzis, HYIPs and Pyramid schemes. 

What the writer fails to mention is that in a Ponzi scheme, one person makes money at others’ expense. When these schemes collapse and they inevitably do, the people that still have money invested lose it all.  In my opinion, there is no legitimate way to make money with HYIPs.

To read previous posts on this and other topics, click on Let’s talk about investing.