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FIB - Scams 101 - Ye Olde Archives
Posted By: S. Tanna In Response To: Again, a lack of understanding... (Dave Mauder (eDave)
Tuesday, 21 June 2005, at 5:18 p.m.
> So, just because my portfolio if worth $12,000+ now and can double every
> 30 days or so, that DOES NOT mean I can actually use that much money or
> cash out $12K and head for Hawaii.
I'm still confused... It boils down to (1) where is the money coming from to make such a high rate of return, and (2) if they can make such a high rate of return, why are they bothering to give it to you.
Doubling every 30 days is approx 409,600% interest per year.
Why does the company running the exchange, need small investors (people like you) to deposit small amounts of funds with them? When rather than paying you back these truly incredible interest rates, they could, assuming they are legitimate, get a loan from a bank, pay it back in full with interest in 30 days, and still have the virtually the full amount of the loan after 30 days.
For example:
- If they got a $1 million loan from a bank, and at 26% Annual Interest,
- After the first 30 days, the company would owe the bank about $1.02 million, but they'd have doubled the $1 million to $2 million in the meantime.
- So after 30 days, they could pay back the bank in full, and still have $998,000 to play with.
And...
If somebody was to put $100 in (I'm not advising it)
After 1 year, it'd be worth $409,600
After 2 years, it'd be worth $1,677,721,600 (enough to buy many fortune 500 companies outright)
After 3 years, it'd be worth $6,871,947,673,600 (equivalent to about 6X an entire year's economic output by the whole population of Britain or France or Italy, or about half of the USA)
After 4 years, it'd be worth $28,147,497,671,065,600 (equivalent to several hundred years' economic output by the entire world).
Where is the money coming from to make these kinds of astronomical rates of return?
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