Common Cents

NSFG: Down and Out

noreply@blogger.com (spectre) — Thu, 23 Aug 2007 18:47:00 +0000

I'm personally speechless here.

Sounds like a whole load of crap to me. It only goes to show that these clowns had no idea what they were doing. Or perhaps something even more sinister, since their last update held even more crap.

The only silverlining I can take out of this is that I was seriously really close to opening a managed account about a year ago. If that had happened and the news is true, I would've been wiped out, or at least close to it, according to the update.

Here's the update in the Gold-Horizon forum:

Yesterday evening our broker in London, BGC, made a margin call on all our accounts after a drop in equity made it impossible for us to maintain the large open negative positions we have been holding for a while. It forced us to liquidate all open market positions, including both arbitrary trades and the hedged position for an all out loss. The large negative P&L had been built up as the global equity markets plummeted following the serious credit concerns and it caused a major unwound of the carry trades, not only in the Yen pairs but also in the Swiss Franc crosses. Attempts to trade around these arbitrary positions failed and we are forced to close down the company following this margin call since we have no liquidity left. Hundreds if not thousands of hedge funds and investment firms around the world have severely suffered from this global incident and we regret not to have been able to pull ourselves through the credit crisis unharmed.

This liquidation has serious consequenses for everyone involved. Personally, I have lost my own private trading account and are now forced to sell my house and liquidate my personal assets to be able to cover expenses until I can move and I will most likely end up with a serious amount of debt to banks and credit institutes. Along the way NSFG has been confronted with obstacle after obstacle and although we have tried our very best to stear clear of these obstacles, this last financial crisis killed our dream. There is no way we can regain what has been lost and the sensible thing to do is pull the plug now and get things closed down for good.

Ken, on behalf of NSFG Ltd

July Update - Singapore-based E-gold Exchangers

noreply@blogger.com (spectre) — Fri, 20 Jul 2007 08:03:00 +0000

I know I've been dragging my feet in mud updating this blog. The reason being that there's nothing really noteworthy to write about.

However, after reading the latest entry in Digital Money World on the e-gold exchangers still in business, I feel that it's time for another update on the local scene. I've not gotten much feedback in the recent months so I'm not entirely sure if some of the exchangers are even alive anymore. Much of it is probably due to the fact that most of the local readers of this blog have already moved away from Hyips and Autosurfs, hence have little or no use for e-gold anymore.

Anyway here are the 'updates', as well as a new exchanger that recently emerged.

Entelnova - Possibly the oldest in Singapore and still working.

Snapgold - Probably has the best rates in the market for Singaporeans. Definitely still exchanging.

Wyngold - Still around.

JR Exchange - Probably still working. No recent feedback.

SG Exchanger - Probably still working. No feedback.

Active Gold - Very new, a few days old. No feedback.

June 07 Results

noreply@blogger.com (spectre) — Sun, 01 Jul 2007 11:45:00 +0000

Well, there hasn't been much to say lately. With the whole e-gold issue going nowhere fast, the entire industry is coming to a standstill. If you're looking to outexchange e-gold, right now might be a good time to do so as the rates have gone up slightly with the local exchangers.

Hyip scams are still running rampant but no one's really putting in much money. The pool dries up pretty fast when it reaches 5 figures.. I suspect quite a few of the perceived larger ones are putting up false statistics. I can't believe that the industry players as a whole are collectively stupid enough to put in 6 digits, then again, never underestimate human stupidity.

Autosurfs have practically hit the ground. In the autosurf folder of the whore capital of the world, MMG, new topics in the autosurf folder have fallen dramatically. The topics as well as the players have all fallen. Surfs do well to rack in 5 digits and 200 members. I'm glad I've left this particular part of the industry since my last article on it : Death of Autosurfs. Every once in a while patting myself on the shoulder does wonders to my ego. Just wish it'd do the same to my e-gold.

The entire climate is in such doldrums that even the pathetic leeches known as monitors are finding it hard to carry on. Visit Talkgold and MMG and read their hyip/autosurf program folders and you'd think that monitors are the only people left playing this game. Afterall they seem like the only ones posting. The sooner these leeches die off, the better it is for everyone involved.

And for the results this past month:

Infinity Shares
Well, the results haven't been spectacular, but it's still a small profit of 1.19%. The good news is that they have reopened e-gold deposits. Not too sure how that translates to real value going to their brokers since most reputable exchangers are still charging an arm and a leg to outexchange it to usable currency in the real world.

The other thing is that weekly updates seems to have grinded to a stop and I've only received a monthly one, not that it matters really. Just to inform anyone who is actually looking to join this one. For more updated information, their trader's blog is still the place to visit.

NSFG
The Jekyll and Hyde behavoir continues with this venture. Apparently they raked in 16% profit this month. While gains are always good, it doesn't mean that these jokers know what they are doing. Given their performances this year, chances are they will lose it all this month. Such is the nature of the beast, unfortunately the people at the helm haven't shown the slightest that they can tame this beast. So look out for a wild swing going the other way for July!

NSFG Trades Up Another Stinker

noreply@blogger.com (spectre) — Wed, 06 Jun 2007 17:45:00 +0000

NSFG
Plain awful if you ask me. They conveniently went on a holiday after another pathetic showing. The month of May brought up a stinker to the tune of -15.04%.

To make things worse with all the on-goings with e-gold, there would be no deposits (like anyone in the right mind would do so) and no withdrawals. Wonder what happened to the bank wire option?

Infinity Shares
After changing brokers and getting used to the new brokers, they have finally started trading again. Nothing much to divulge here since they have gone mostly private. Now, in order to join them, you would have to post in their forum and let them know who introduced you to them.

Again with e-gold and, generally, the US government acting the goat, now is not a good time to join them. Nothing wrong with the trading here, just no deposits until the whole e-gold crap sorts itself out....if ever.

Local Exchangers
Nothing much to report here except the rates to sell are crap. I've more than triple my e-gold hoard with no place to sell them. Any Singaporeans with a UOB or OCBC account (sorry no DBS) is welcome to take it off my hands. I guarantee better rates than the local exchanges out there, only problem is while stocks last (and I don't have alot on hand).

Scam Warning
Stay far far away from this program called PrivateFin. I was conned about $200 almost a month back. The bastards deleted my account and refused to respond to any of my mails. I usually don't give crap, but this one is growing as more ponzi pushers are appearing and promoting this one. Even some of the bad blogs are jumping on the bandwagon for some referral commission. Shame on you guys. So don't get conned.

This brings me to another fine whine from me. Monitors have gotta be the biggest ponzi pushers around. If you have been visiting and voting in monitors (which I haven't), you'd notice that it's so easy to make a 'good' post, while they make you jump thru hoops to make a 'bad' one. No wonder these blatant scams get away with murder.

Rates for Local E-Gold Exchangers Improve.....Slightly

noreply@blogger.com (spectre) — Fri, 18 May 2007 17:07:00 +0000

Since the last update, prices have gone southwards, until I checked today. Prices for select exchangers have improved slightly but it's still at cut-throat rates. Major exchangers around the globe have been waiving all around and charging ridiculous rates for people willing to take a huge discount. Perhaps the word 'profiteering' is more appropriate here. I understand the current situation is not rosy at all, but still does not justify such low rates.

Given the circumstances, I'd rather pour whatever e-gold I have into some hyips, which I have for the past 2 weeks. And frankly I've been doing pretty well. Looks like scammers might also be having trouble cashing out their money, hence 'returning' some of it back to those who are willing to take a risk (well, one can always dream).

Anyway before I digress further, there is some semblance of good news related to local exchangers. Entelnova has resumed purchasing e-gold. Their rates are similar to Snapgold, who is low anyway. WynGold and SgExchanger have the lowest rates in the market so far. Of the four, I'm currently biased towards SnapGold. Bear in mind the rates are still what most people consider 'daylight robbery'. But if you're desperate or scared, it's still an option.

There is good news however. JR Exchange hasn't gone anywhere, just taking this opportunity to upgrade the site. Their problem however lies with being unable to communicate properly.

Of course when there's good news, it's always followed by some not so good news. Goldert has biten the dust. The site is current being parked, which means....well....it means it's no longer around. Probably wouldn't bother very many people anyway, since the site's never updated, so no one knows anything.

Infinity Shares Is Going Nowhere

noreply@blogger.com (spectre) — Fri, 18 May 2007 16:04:00 +0000

In case you're looking for Infinity Shares, they are still around. The website is down at the moment becasue their hosting in USA has suspended the website. Possibly someone reported to the hosting company that this is an illegally run hyip.

Well, we can only wait and see what the outcome is. Anyway, you can read it here.

Anyone Remember EpaySurf.com?

noreply@blogger.com (spectre) — Wed, 16 May 2007 10:40:00 +0000

It's been over a year since this one reared it's ugly head. There have been murmurings around that Kent has been involved in some other autosurf scams that have plagued this 'industry'. I've, of course, been kept out of the loop with all this information since I've staunchly refused to get close to anyone.

Anyway, there's a video cast on 24Surfmonitor that reveals quite alot about what some people have already suspected, that Kent's been involved in a number of failed programs, and is still involved in some current ones. Make what you will of it. I personally couldn't care less. Kent can do whatever he likes, whenever he likes.

To view the video cast, visit the 24SurfMonitor site and click on the latest video. Mind you, the video's awfully long, and for most parts, awfully boring as well. Coming straight to the point isn't one of Kent's strong points.

Just for the record, I hate to drive traffic to a monitor.

Local Exchangers Taking E-Gold

noreply@blogger.com (spectre) — Sat, 12 May 2007 05:37:00 +0000

Have not really been monitoring the situation. There is a flurry of activity in the rumour mill and no one knows who is right or what to believe. The prudent thing is to exchange your e-gold out to cash and see where to go from there.

As of typing this entry, only SnapGold and WynGold are accepting your e-gold and are certified reliable. As far as I know, SGExchanger is doing so too. However, don't expect good rates from any of them. These are uncertain times and you should be glad that someone is willing to shoulder the risk on your behalf.

As for the rest of the exchangers, JR Exchanger has probably kicked the bucket, which is just as well. Never did feel good about them. The rest like Entelnova and Ecurrenz are not buying e-gold at the moment.

E-Gold Indictment and Response

noreply@blogger.com (spectre) — Tue, 01 May 2007 15:53:00 +0000

E-Gold
As all of you should already know, e-gold was indicted on the 27th and 3 days later came up with this response. I thought the response felt like a statement filled with damaging insinuations that's going to bite e-gold in the arse in a court fight.

There's still alot of uncertainty going on with regards to the future of e-gold, with the situation going nowhere clearer in the next few of months. In the meantime, it's business as usual for e-gold.

I'm personally leaning towards taking the cautious approach and not hoarding much in my e-gold accounts, just enough to make the occasional gamble when the right situation arises.

Club-FXTrader
Apparently 'hackers' got into the account and stole all the money. I don't have much vested here. On hindsight I should have pulled all my money out of this one last month when changes were announced. I've never taken this one as a real program and have always been treating it like a ponzi.

I've never believed any program which promises a fixed percentage to be really trading in anything other than our emotions. The strange thing with this program is that there are alot of so called experts in the field of forex who actually believe that 20% a month can actually be achieved on a constant basis.

In any case, there's going to be loads of explaining to do and plenty of verification and, more importantly, validation to do should the administrator decide to release proof of hacking. All of which should prove to be an interesting drama to sit thru, afterall I've paid for the tickets.

NSFG, IS updates

noreply@blogger.com (spectre) — Mon, 30 Apr 2007 05:17:00 +0000

NSFG
They posted a 10.94% gain for the month of April. While good, still goes a long long way to replenishing what's been stolen.

They also announced that there would be no trading during the last week of May, due to another holiday they are taking.

Just thinking aloud here, but I'm still kinda curious just how many managed accounts they still have. You would expect having a handsome commission on those managed accounts (which allegedly are 90% of the pooled accounts) would go a long way filling the hole that's been dug in our pockets.

Infinity Shares
Looks like they found a new broken and doing the necessary to switch brokers. Trading would resume once the switch is done.

Due to the e-gold situation, deposits have currently been disabled.

Local Exchanges
Speaking of the e-gold situation, it seems the big 3 exchangers in Singapore are going on a profiteering run. The rates to sell e-gold has dropped drastically in the last couple of days, while buy rates remain somewhat still on the high side.

Of course this can be reasonably explained by, what I would expect, a sheer amount of people selling their e-gold.

E-Gold Trouble?

noreply@blogger.com (spectre) — Fri, 27 Apr 2007 17:35:00 +0000

I've recently got alot on my plate and haven't been actively monitoring the 'industry' on the whole. There are things that I've wanted to comment on but haven't had the time to cohesively put my thoughts together. However this e-gold situation is something that can't wait.

1mdc which has been a strong bastion for e-gold users had their accounts blocked via court orders. Not much is known with regards to the details and speculation, as usual, is rife. You can visit the 1mdc website for more inform on them.

IceGold, a major exchanger in Europe has also changed their e-gold account. Again, speculation as to why they are doing it, is running wild.

Of course more information of this can be found in DigitalMoneyWorld.com.

Chances are that all these are going to amount to nothing as the US government is weeding out all the illegal transactions and money laundering schemes going on. On the other hand, hitting on the exchangers may have more servere reprecussions for those of us with money in e-gold.

I've been a firm supporter of e-gold and all the previous rumours pertaining to e-gold have not hit such levels of magnitude nor seriousness. Somehow one plus one here doesn't seem to add up. I'm personally not advocating panic, but at the same time I'm not getting good vibes here and have cashed out most of my holdings in e-gold with the local exchangers. Time will tell how this one will unfold.

If it all goes wrong, this entire 'industry' will sink faster than Atlantis, signalling the end of the ponzi-pushing days. All in all, might not be such a bad thing afterall.

For Singaporeans looking to cash out, I would strongly recommend snapgold.com at this juncture.

Buy E-Barrel Makes the Local News

noreply@blogger.com (spectre) — Mon, 23 Apr 2007 15:53:00 +0000

The program 'Buy E-Barrel' was running pretty hot in the beginning of the year and collapsed a couple of weeks ago. This article was printed in the local papers, Straits Times, yesterday.

I saw this one being posted around in the forums I've visited, and luckily didn't put a cent into it. There were just so many reasons not to buy into the hype generated by this one.

I've a good number of friends who are working in the oil industry as traders and such deals simply do not appear out of nowhere. In fact they don't appear at all.
The rates are ridiculous.
The MLM aspect of it is ridiculous. Other than an incentive for the stupid to con other stupid people, MLM usually has no place with real investment.
Heavy Malaysian influence. I have nothing against Malaysia or the people residing there, but given the blatant number of scams that come out from there, this one was a straight no-no for me.

Unfortunately this comes too little too late for all those who have already fallen victim here. But there are similar looking ponzis out there that run along the same modus operandi. So keep yours eyes open and your money in your pockets. If you must gamble, do so moderately.

Another Local Exchanger : ECurrenz

noreply@blogger.com (spectre) — Fri, 20 Apr 2007 15:56:00 +0000

Ok, this one's pretty well recommended. And the rates are probably some of the best I've seen in town. I haven't used them yet, but if you're looking for good rates, this one's definitely the place.

The only downside for me is that OCBC is not represented yet. But if you have other local bank accounts, then this one should be alright. As with all unfamilar exchanges, go small and go slow.

New Local Exchanger

noreply@blogger.com (spectre) — Thu, 12 Apr 2007 08:14:00 +0000

Just a quick update here. Looks like there's another new kid on the block.

SgExchanger

Haven't used them yet, and probably might not in the near future. The usual suspects are still working well for me. Moreover nothing really outstanding about the rates provided.

This new one has a wide banking option to purchse and sell e-gold. It also provides 'instant' exchangers via YIM or MSN.

The thing that raises my eyebrows here is the impending use of paypal. We all know the chargeback function of paypal, and the horror stories of exchanging paypal with e-gold. Will monitor how this develops if I have the time.

As with all new exchangers, go small and go slow.

Not Dead Yet

noreply@blogger.com (spectre) — Wed, 04 Apr 2007 02:11:00 +0000

It's been awhile since I last blogged. To say the least, I've been busy with offline stuff. Just to shed abit of light to the Singaporeans reading this, someone offered me half a mil for my HDB apartment. I never had the intention of selling but the offer's so crazy I had to take a serious look at it and do my sums. So while doing this, I made a disciplined effort to take some time off this blog, although I had plenty of comments to make over various anal issues.

As for my apartment, chances are I'd still hold on to it, afterall the bulk of the money would be spent on another one since I do need a roof over my head. Secondly, my area is in for major developments in the next 3 years. On top of that, I prefer to go the rental route should I eventually move out.

NSFG
Looks like we pool members have been treated like dirt again. No updates, no news, no statements. I had to get this from a managed account user. Read and weep. These guys are either plagued with insane bad luck or the most incompetent bunch of imbeciles I've ever seen. I've personally worked with traders and none have even come close to the level of catastrophes these guys have met, time and time again. Just when I thought they turned the corner too! I'm beginning to feel I'm never going to see the light at the end of the tunnel here, let alone get out of this one unscathed.

Pay Processors
Niche market is all I'm going to say here. Too many have been riding on e-gold's coat-tails. The true standouts are those which have found their niche market. Just to give a hint of what I'm talking about:

Paypal - E-bay
NetTeller - Gambling
Moneybookers - Gambling
E-gold - Hyips, AS (or anything looking like a scam to begin with)

So basically a pay processor needs to differentiate itself with a niche market. Acting as e-gold's bitch bascially means you're just an e-gold exchanger. Nothing more, nothing less.

Referral Whores
My favourite whipping boys. I hate these bunch, I really do. Much has been made about them in the not too distant past. The unfortunate thing here is those makng the complaints really ought to take a step back and look in the mirror. You know what they say about people living in glass houses. Enuff said!

DesertSky Marketing

noreply@blogger.com (spectre) — Sat, 10 Mar 2007 06:46:00 +0000

You gotta be kidding me! You seriously have to be! Just after I posted the last entry, DSM announced that it's now part of the CEP family. Unfortunately for all the people who solely used e-gold and alertpay for this one, you just got royally screwed, since only CEPTrust will be used.

Looks like a plan to accept all these programs into under the CEP umbrella and to create a larger audience for that particular pay processor. It's going to be interesting to see how all this develops. The conspiracy theorist in me is going into overdrive.

DesertSky Marketing Programs : The Fallout

noreply@blogger.com (spectre) — Sat, 10 Mar 2007 05:35:00 +0000

I admit I've a mild obsession with what's going on with DSM, despite not being involved in them. As mentioned in previous posts, the fallout from the second closure of DSM would adversely affect the other programs leasing the same script. True enough, most of the programs under the umbrella had to annouce closure or some form of change.

DesertSky Marketing
Yet amazingly enough, DSM reopened and just announced that all upgrades/compounds would remain. The only change being the daily percentages. This is probably good news for everyone involved in the program.

The only question is....where is the money going to come from? I can understand if the principal sums are paid that extra 20%, but to include that to the compounds? That's surely going to be alot of money involved.

In the not too distant past, you could argue that there was extra income coming from leasing the script, but after the fallout, only 2 of the 5 programs are garnering any sort of income for DSM. The other 3 have already disabled upgrades.

4NewbieMarketing
This one received alot of fanfare and grew leaps and bounds, but it had to readjust during DSM's temporary closure. What's happening now is that they are merging with CEP. Upgrades have been disabled and payouts will occurs fortnightly.

The issue here is that everyone's going to be paid via CEPTrust. I can understand the marketing strategy here, but I hate being strongarmed into using something I don't want to be involved in. I had nothing negative to say about the whole CEP umbrella until today, but it looks suspiously like a well oiled ponzi. On closer scrutiny, they all do.

LucreSurfing
Well, they around to honour their terms and payout anyone not in profit. Where it goes from here is anyone's guess. They are taking time off to make a decision. Chances of a closure here is rather high, but you can never doubt how hard these admins will try to make a comeback. Afterall they do what they promised to do, then they probably would have built enough goodwill to have enough sheep bleating on their behalf.

TwilightAdz
This one has implemented a 30% cashout rule. Quite frankly, it doesn't matter if it's a 30% rule or a 50% one, as long as it's a ponzi, the only fact remains is that it will fall eventually. Moreover, as expected, upgrades have fallen by the wayside.

TurnStyleProfitShare
This one's announced a refund of sorts much to the chagrin of all the spoilt brats in the forums. Judging from the fact that it's a cleverly diguised ponzi, I doubt anyone would be getting a full refund here. Afterall referral commissions would have eaten away into everyone's principal.

AlwaysInnovateFirst
This is the only one that's standing pat as of right now. Nothing's going on, it's business as usual, except that upgrades have drastically fallen. Adding to the fact, it was never high in the first place since this one opened right smack when all the drama started. Poor timing all around.

Midas-Surf
This one's not under the DSM umbrella, but I just had a few choice words to comment on this program. Freaking SCAM! I can't believe they have come around and started to scam people again. Avoid at all costs.

NSFG : Good Returns

noreply@blogger.com (spectre) — Fri, 09 Mar 2007 01:19:00 +0000

Well, amidst all the furore surrounding the whole DSM saga, I've been selectively reading my emails and completely missed the ones from NSFG. For some reason the mails ended up in my spam folder, hence this late late update.

The good news is that they secured slightly over 19% for the month of Feburary. Pardon me if I'm not jumping for joy yet. Combined with January's result, it's a marginal gain of over 1% for 2 months.

The REAL good news here is that I'm in conversation with a managed account holder, and so far March has been a brilliant month. We're looking at gains over 5% in the first week of March. Let's keep our fingers crossed and hope they don't screw this one up.

As for enthusiasm for the program, you've got to bear with my lack of it. Until the amount that was woefully under-reported/stolen is replaced, all these news really mean nothing. It's just paper gains and losses. With the huge exodus of people from the pool accounts and the stellar results, I'm expecting some proportionate replacement of those misappropriated funds. The only question here is that how many managed accounts are really left? The fewer managed accounts, means lesser fees, which in turn means a smaller replacement figure.

Moreover all these 'good news' really means squat to me. If my original amount was there, I would be making money. Unfortunately my original money was used to pay others, hence all these 'gains' merely going towards 'recovering' my 'losses'. Yes, plenty of innuendoes there.

That being said, should they managed to replace all my missing funds, you can be sure I'd play the role of a veteran politician and start flipping....and flopping my opinions on this one. Might even reconsider a managed account with them if things go well. But let's take one step at a time. Baby steps.

Understanding the System: DesertSky Marketing Script Flaw

noreply@blogger.com (spectre) — Mon, 05 Mar 2007 18:28:00 +0000

I've been meaning to post this a couple of days back after my last post, but was insanely busy with a wedding of a good friend, which completely slipped my mind (right....some good friend I am).

In my last post, I mentioned that people were not understanding the product but did not elaborate on it. I'll try to elaborate on it in the simplest terms possible.

The script DSM runs on allows compounding, which isn't a bad thing as everyone thinks. In fact it's a godsent, considering it saves both the administrator and the members transaction fees in e-gold and other processors used. It's something I've mentioned in my simplistic guide on surf programs. People compound anyway if internal compounding is not allowed. They can merely cashout and redeposit, so in itself is not an issue.

However the real problem is that the script does not account for internal compounding as payouts. When you compound internally two things happen:

1. You cashout
2. You redeposit

And it's done in that order. In the DSM script, the redeposits are actively shown, but the cashout portion is omitted, whether consciously or unconsciously. Hence creating a huge gap between daily deposits and payouts, in short the gap between deposits and cashouts are an inflated figure. This causes a false sense of security amongst many of the members, very possibly causing the program to crash at sometime.

The same flaw also occurs in all the programs which have leased the script from DSM. Sooner or later, the gap created will not be sustained and they will eventually crash. Consider this an early warning signal.

And FYI, these are the current programs under the DSM umbrella:

I'm in no way saying the administrators of these programs are dishonest, but they are probably clueless with the potential problems. Let's hope the problem can be retified before further damage is done....if it hasn't already.

DesertSky Marketing Closes It's Doors

noreply@blogger.com (spectre) — Sat, 03 Mar 2007 01:12:00 +0000

Looks like Dustin has decided enough was enough and decided to close the doors on DSM yet again. The signs were not looking good in the past week. Daily returns fell swiftly, outdoing the mini downturn in the equity markets.

Personally I think this was a good move. People were not ready for the product and played it like they would any other normal program. Until mentality changes, the only way to play the game is to get your principle out asap and play with profits. Moreover the product looked like a semi-ponzi at best and cash would eventually run out. At least with DSM, no one loses. There would be refunds to anyone not in profit.

And as usual, the forums were filled with complaints as the vultures circled the dying program, hoping to put their 2 cents worth, enhancing their own reputations. Fact of the matter is people who play 'guru', should've known the nature of the beast. Since they have proven themselves unable to overcome the beast, they really shouldn't be playing the 'guru' role. You know the saying, people living in glass houses shouldn't be throwing stones.

As for me, I'm glad I didn't join the program. By the time I decided it was time to get back into surf programs, I felt this one had already peaked. That said, I did join other similar programs in their infancy. What remains to be seem is if the fallout from this one will adversely affect the others. Only time will tell.

What We're Up Against

noreply@blogger.com (spectre) — Fri, 02 Mar 2007 20:30:00 +0000

I’ve been in this industry for a couple of years, and have learnt a lot (or so I think). The biggest lesson I’ve learnt is to never trust anyone. This is one arena that is filled with the lowest of lowlifes, the type that would sell their grandmothers for the odd dollar. To put things into perspective, I’ve worked for a number of years in a very well known global bank group (well known for nasty office politics) and the level of deceit and distrust is nowhere near the level of scum that resides here.

Everything you read from the monitors, blogs, info-sites and forums should be taken with a large dose of salt. Not everything presented is as rosy as it is. There are pseudo monitors that have no value other than to rake in referral commissions, blogs filled with referral links (albeit giving good commentary, but still a referral whore, nonetheless) and industrial ‘consultants’ dishing out (bad) advice in forums.

There is always an agenda behind everything that is done in this industry. And for most parts, it always invariably involves money, either directly or indirectly. Learn to read between the lines of what is typed in forums and blogs and decipher the agenda involved.

Just to give you an idea of what we’re faced with, here are a couple of examples:

Paid Postings in Forums

Tech4Money

I remember reading this in some blog a few months ago, but can’t for the hell of me remember where I got it from. It’s a website where hyip/autosurf owners can purchase ‘paid postings’ to:

bump topics to top of folder
instill confidence in readership on payments
create a pseudo environment of many participants

Yes, it’s blatant, and if you look carefully in the forums like MMG, TalkGold and some of the more popular ones, it’s not that hard to sift out the bad apples involved. I'm just pissed I was not invited in this lucrative sideline!

Dirty Monitor + Forums

My disdain for monitors is well chronicled here. There are the worst of the lot. Even the genuine ones, with good intentions can’t tell you the most important thing of all.....if the site will be around tomorrow.

Anyway I don’t really want to type too much here, so I’d leave you with a report done in MoneyMakerTalks forum. Bear in mind the following article has been spammed in numerous forums, and the forum integrity itself suffers from allegations of stat-padding and false membership representation.

However, the article itself is a damn good read, and I have no reason to believe it was falsified to slander. I believe that a lot (not 100%) of what it reveals is really happening in the industry.

HYIPocalypse: slowly we rot…

You can only be amazed at how brazen things have become. Once upon a time, such things were done covertly, now it’s so open it becomes an accepted truth.

I wouldn’t even be surprised some blogs are involved in such dealings either. Some of the blatant cheerleading coming from supposedly intelligent minds leaves a sour taste.

Conclusion

What I’ve covered here is by no means even close to the depth or level of filth that is plaguing this industry. I doubt there is any way to peel thru it all and see the absolute truth. The best piece of advice I can dish out is not to even step into this arena, unfortuntately, if you're addicted like me, we sure need therapy.

Before I end this article, I’ll leave you with a blog post that is entertaining, to say the least.

Welcome to the Masquerade

I don’t agree with it wholeheartedly, but the bulk of it makes sense. Moreover the entire blog itself is a damn good read and bloody controversial, just the way I like.

NSFG : Interesting Bit of Information

noreply@blogger.com (spectre) — Mon, 26 Feb 2007 15:55:00 +0000

I was doing my daily browsing thru the blogs and came across this interesting bit. It's was found on NoBS blog and it's worth a good look if you're in NSFG. The interesting bit is written by a user called 'Per' and it certainly is an interesting bit. Scroll down abit and you'd see it. Heck, I'll copy it verbatim for those who are not net saavy. All the urls provided are not in English.

It’s amazing how two young amateur wannabe-traders can trick people all over the hyip-world!

Did a google on www.google.dk (I’m danish…) - and Kenneth (the trader) apparently works as a sales- or storeclerk with a small wood and cardboardfactory in Farum north of Copenhagen: www.farusa.dk. Also he’s doing some banner-designs from home.. look at www.bannerdesign.dk

Check the photo on NSFG website, its taken at the factory. Then go to www.farusa.dk and see his profile and photo there: http://www.farusa.dk/dk/nyhedsbrev/3/nyhedsbrev.htm

Why will a “topgun-forextrader” still be working at the local cardboardfactory???? THEY ARE AMATEURS, TRADING AT HOME FROM THE KITCHENTABLE…!!!!! LOL!

PS: The Danish Financial Authorities denies that they have seized any funds from NSFG.. Its a scam obviously, nothing else…

E-Gold News

noreply@blogger.com (spectre) — Fri, 23 Feb 2007 19:33:00 +0000

Just read this from e-gold:

e-gold Empowers Online Gambling Sites to Refuse Payments from US Persons
On October 12, 2006, the Safe Ports Act was signed into law in the United States. As a result of the Safe Ports Act and the Unlawful Internet Gambling Enforcement Act of 2006 contained in the Safe Ports Act, the facilitation of many forms of Internet gambling by persons located in the United States has become a proscribed activity. With the objective of preventing the use of e-gold by United States persons for unlawful online gambling, e-gold has deployed a feature whereby any e-gold account holder may configure their e-gold account(s) to block incoming e-gold Spends from accounts controlled by Users residing inside the United States or who are accessing the Internet from within the United States. Online gambling businesses using e-gold are now required to enable this new account attribute.

While this doesn't really affect those of us who are not in the US, or playing with HYIPs and such, it's interesting to note that e-gold is pro-active in keeping themselves out of trouble (or in this case potential trouble). That being said, I'm sure the circus is going to come riding thru town with the latest annoucement and the rumours will start all over again......not that it ever stopped in the first place.

Welcoming the Year of The Pig

noreply@blogger.com (spectre) — Sat, 17 Feb 2007 09:28:00 +0000

No news here or thoughts here. It's a day early, but I just wanted to wish everyone a Happy Chinese New Year.

I'm personally looking forward to the year of the Golden Pig. It's been literally the year of the Dog for me this past 12 months of so. Everything that could've gone wrong has/had. I've had near brushes with death and disability, and accidents that have left permanent damage.

On the financial front, this past year has been quietly good due to the bull runs in most equity markets, with the more exciting times actually occurring with the online adventures instead.

Anyway here's to wishing everyone health and wealth. And remember to use a large dose of common cents when making your online 'investment' decisions.

NSFG : Something To Cheer About Or Stalling For Time?

noreply@blogger.com (spectre) — Wed, 14 Feb 2007 18:43:00 +0000

Looks like all my recent posts since returning from a rather eventful 6 weeks have all centred around NSFG in one way or another.

I just received an update from Paul, stating that they gained a profit of 10% by mid-Feb. I suppose this should have come as some good news, but I'm not impressed at all. The miserly 10% doesn't even come close to reimbursing the 66% lost when they took my money and joyfully used it to pay some others. Until that occurs, I doubt I'd be fully satisfied with anything that happens here. To put things in perspective, it doesn't even come close to making up for the 15% lost last month. Moreover I'm very sure many of the MA account holders have already jumped ship, making it more difficult for them to reimbuse us from the fees. To add to that given their recent run of trading losses as well as administrative incompetence, the skeptic in me seriously find it hard to believe they actually made such 'huge' profits.

Alternatively it looks to me like they are stalling for time hoping for a reprieve from members who have already set the ball in motion to prosecute them. I certainly hope this isn't the case and they geniunely made profits, but given all that has happened as well as the inability to recover the money, I simply cannot see NSFG flourishing.

As for me, the bulk of my money is already in limbo, hence I'm not closing my account, nor withdrawing. It's all just paper gains or losses. I'm going to see this one out, either getting all my money back or going ahead with a collective legal action.

Anyway here's the email :

Good Afternoon Everyone, and Happy Valentines Day!

I thought it was high time that we should report something good rather than all the news that we have recently had to report.

As you are all aware, last month we suffered a loss. It forced us to change our plans and bring in and use the trading strategies which we have been developing over the last year or so. Originally the plan was to change to this method at the beginning of this year, however as circumstances unfolded in the later part of 2006, we had to opt for a method that produced results while making money for the company so that we could put this into the pot on top of the trading returns. We all know how that went!

The trading method we have now employed using far less risk and far less volume, from a company perspective this does not generate anywhere near the kind of money which higher volume trading does so we can not put in large sums ourselves as we had planned......let me be clear, we STILL ARE going to be adding to the fund, however it will not be to the degree we once were able.

HOWEVER, this trading strategy is far more consistent from a actual trading return perspective, and after last month we decided that this is the way to go moving forward.

The good news is that since we have adopted this style we have had 5 weeks in a row profits and already have LOCKED IN 10% for February for you guys!!

I firmly believe that if the loss from last month was the cost that we had to pay to bring in this method, then it is a cost worth paying, as going forward into 2007 it is going to make a HUGE difference to the returns we can produce.

I thought that this was news that you would want to hear, so hence this brief update.

Have a great Valentines Day, the month is still only halfway through and I am sure there is much more to come yet!!

Paul