[pags11]

by the FBI agent speaking...was at the Atlantis at a seminar on protecting yourself from identity theft and thought it was interesting that they brought this up...said that paypal was to be trusted, but neteller was a scam from the beginning...

[Santo]

FBI, Iraqi information minister..

About the same confidence in what they say.

[pags11]

interesting you say that santo...too bad it's getting worse for current neteller users...just glad I was lucky enough to get my money from those scammers before it started to go down in flames...

[goldengoat]

everything was fine til the USA change in legislation

i don't think neteller was a scam from the beginning at all

they were very successful and then things went to hell when the U.S. government started putting the heat on

this is just a smear campaign IMO

[Mudcat]

Either the agent doesn't know what a Ponzi scheme is or he hoped/assumed he was speaking to a group of ignorant people.

Neteller is nothing like a Ponzi scheme. Do I need to explain what a Ponzi scheme is? Maybe. It's a fraudulent scheme where investors are promised an exorbitantly high profit in exchange for investing. But because there is no actual earnings, the system relies on ever increasing investment to keep paying out. Eventually, because the pool of investors is not infinite, it is doomed to collapse with the people at the top having made a good profit and the people at the bottom having nothing.

I have never heard of Neteller doing anything like that.

Speaking for myself. Neteller always did exactly what it said it was going to do. It never promised any wild returns on investment. It had a list of fees for various services which I had a choice to accept or reject. I used Neteller for a few years and it helped me make a lot of money. In return, they made a good chunk of cash from me in fees. When they decided to stop doing business in Canada they gave me ample warning, then returned my funds to me.

Pretty straight forward business relationship in my book.

And they continue to do business that way in many countries.

I realize things with the States have not been so smooth. I don't know the exact cause of those problems. I assume, since Neteller showed they can pull out of the Canadian market in organized way, that the glitches in the US must have other causes. US authorities perhaps??

I really don't know the exact cause but in any case, it's nothing like a Ponzi scheme.

[freebie]

another term "Pyramid scheme"

Neteller was never a scam. I was just telling my wife how much I missed the easy Neteller *************** deposit. Now I have to wait for a fuking bank check to clear (going in 6th days now).

[kalmikrazy]

Neteller made life easier PERIOD. Using that DC at Home Depot, Walmart and Best Buy? Priceless!!!

[gotsteam]

What joke to say the least.

I have a suggestion.

Lets see what happens when every single Depositor at a USA Bank, pick ANY USA BANK you wish, as the end result will be the same

If Every single depositor would go and close their account and remove their funds, then you would see a true scam/ponzi scheme.

The banks DON'T have the money. Every single bank in the USA WOULD FOLD, like a cheap suit, if a run on the bank happened, WITHOUT EXCEPTION

People who live in glass houses shouldn't throw stones!

[increasedodds]

Banks are legally allowed to "USE" the money. It's a nice little break they get allowing them to be ponzi schemes.

sean

[increasedodds]

Banks are also able to borrow enough to cover from the Fed reserve - meaning they would be able to cover.

[gotsteam]

Originally Posted by increasedodds

Banks are also able to borrow enough to cover from the Fed reserve - meaning they would be able to cover.

Yes, they can borrow money overnight.

but realistically speaking, with a fractional reserve banking system, where less than 90% of depositors funds are actually, physically in possession of the bank, the fed would not and could not lend enough to cover.

now imagine runs on the banks ( 10 or 20 of them ), the US banking system would collapse.

[slash]

A guy said that and you didn't tell he him was a dumbass?

[gotsteam]

Originally Posted by slash

A guy said that and you didn't tell he him was a dumbass?

WTF???

[Korchnoi]

Originally Posted by gotsteam

WTF???

I'd be very tempted to call the guy out, but I probably wouldn't cause he's a Fed. There's rarely any reason to ever have an argument with a cop or a fed.

[RickySteve]

Originally Posted by Mudcat

I realize things with the States have not been so smooth. I don't know the exact cause of those problems. I assume, since Neteller showed they can pull out of the Canadian market in organized way, that the glitches in the US must have other causes. US authorities perhaps??

Neteller is using the huge sum of U.S. deposits as working capital while they desperately scramble to see if they can actually salvage their business sans North America. If things go belly up, they have the mountain of U.S. customers' cash to run with.

Canadian money was mere peanuts. They didn't have a convenient cover story (e.g. U.S. government) to attempt to steal it, and no real incentive for such a relatively small amount.

[BuddyBear]

Thanks Pags for the great post.....

[tacomax]

Originally Posted by Mudcat

Either the agent doesn't know what a Ponzi scheme is or he hoped/assumed he was speaking to a group of ignorant people.

Well we now know that there was at least one ignorant person present.

[tacomax]

Originally Posted by RickySteve

Neteller is using the huge sum of U.S. deposits as working capital while they desperately scramble to see if they can actually salvage their business sans North America. If things go belly up, they have the mountain of U.S. customers' cash to run with.

Canadian money was mere peanuts. They didn't have a convenient cover story (e.g. U.S. government) to attempt to steal it, and no real incentive for such a relatively small amount.

Where did you hear that BS from? Was it an FBI agent speaking at a luncheon?

[tacomax]

Originally Posted by pags11

by the FBI agent speaking...was at the Atlantis at a seminar on protecting yourself from identity theft and thought it was interesting that they brought this up...said that paypal was to be trusted, but neteller was a scam from the beginning...

What was on the menu?

[Shortstop]

freebie has 8 points.

[tacomax]

BUT WHAT WAS ON THE MENU?

I think it was bullshit for starters followed by a main course of horse shit. Pags11 cleaned his plate both times. And then licked it to make sure.

[The Genius]

Never had a problem with Neteller and never will.

Legitimate business that has only slowed down.

[moses millsap]

good bump, im having lunch with a few FBI agents myself today

[daggerkobe]

That pags has more stories than Mother Goose herself.

But my favorite fairy tale of his is how he never pays juice. He always gets the best lines at + juice even tho all his followers have to pay extra juice like -135 to get the same lines.

No wonder hes down just 7 units this season while all his followers are down double digits.

[Richkas]

I remember Neteller sent me a letter from a Ohio attorney for some money I owed them. I had my attorney send a letter back and havent heard about the 5k since.

[MartinBlank]

Yeah, Pags rolls like that. He NEVER pays juice.



Maybe the FBI gets him his lines.

[moses millsap]

Originally Posted by MartinBlank

Yeah, Pags rolls like that. He NEVER pays juice.



Maybe the FBI gets him his lines.

you don't pay juice when you work in big 2k syndicates

[tacomax]

great thread guys...

[durito]

Taco,

I was just looking for you in the private zone

[tacomax]

Don't worry, all my posts get there eventually.

[pags11]

daggerbroke,

my favorite fairy tales about you are the weeks you actually win...get yourself a matchbook account and have some discipline to stay around a computer and you can get reduced juice games...you are probably just too lazy...

martinblank,

what were you thinking when Purdue covered last Saturday? did you actually think I was going to let your sorry ass off the hook? nice pick f\*g boy!