I just received the following e-mail from Agloco. It basically announces that their viewbar is ready! We've waited a long time for this, so now is the time to start getting paid for browsing the net.
If you're not a member of Agloco, then click HERE! Happy surfing!
-- start of quote --
Dear alan,
We are pleased to report that your AGLOCO Viewbar has been released and is ready for you to download now. Since you signed up with AGLOCO, our community has continued to grow even larger, stronger, and more active. With the Viewbar software, we are excited for each Member of the AGLOCO community to begin earning their share of the wealth generated on the Internet.
Here is how to download and launch your Viewbar:
1. Go to the AGLOCO website at https://www.agloco.com/c/portal/login and login to get to your Member Account page. There is now a “Download the Viewbar” button on that page.
2. Simply click the Viewbar download button and follow the download directions. Please click “Run” when offered to Run, Save or Cancel.
3. You will need to enter your Account ID# (or email address) and your AGLOCO account password to activate your Viewbar.
4. After you download the Viewbar, you can launch it for first time by going to your Windows Start Menu and clicking on the AGLOCO Viewbar Icon.
If too many Members are downloading at the same time you may not be able to get immediate access to the Viewbar (a “timed-out” or “no access” page may appear). If this happens, please try again after a short while. If you have a Norton firewall you may be asked to allow access to “viewbar.exe” and “update.exe” (please check “Permit Access Always” for proper installation of the Viewbar).
The Viewbar is currently available for Windows 2000, Windows XP, and Windows Vista and will work with IE (Internet Explorer) or Firefox browsers. When ads start to appear on your Viewbar, please be aware that the Viewbar ad targeting system will not be fully active at first (this will not impact your accumulation of AGLOCO hours).
If you encounter any problems during the download process, please send your questions to help@agloco.com so that we can assist you.
Dan Jorgensen
Member Coordinator
--end of quote--
Jun 4, 2007
Agloco viewbar is finnaly done! we can all start earning now!
BullionVault: The #1 way to own gold
Good day everyone. I'm back with another review. This time I'm reviewing BullionVault, another great way to own gold - the best way I've found so far. I won't go into the reasons why you would want to have direct (allocated storage) ownership of gold, let me just say that the truly rich will know all the reasons why gold ownership is so important. So without further ado, let me give you some more detail about BullionVault.
Now please bear with me, this review is going to be probably the lengthiest I've ever done. I've taken a lot of the information from BullionVault's website simply because there is no point in paraphrasing them when they say it in such a clear and concise manner already.
Oh, I should also mention before I get into the review that BullionVault will give you 1 FREE GOLD GRAM!!
What is BullionVault all about ?
It used to be very difficult for private individuals to find a simple, safe and cost-effective way of buying, storing, and then selling gold.
The main problem was the sheer size of the investment you needed to make to access the best prices and there were extra complications with integrity and storage too.
Big gold bars & the professional bullion market
- The most competitive gold prices in the world are enjoyed by the participants in the professional bullion market: large gold dealers, refineries, government agencies and bullion banks.
- This professional market only deals in what are known as Good Delivery bars. If you're not trading these bars you are excluded from their market - and their very competitive prices.
- Good Delivery bars are cast by a small group of metals refiners accredited by the professional bullion dealing communities in London, New York and Zurich. They are accurately assayed and guaranteed always 99.5% pure gold or better. The market trades their pure gold content, known as fine gold, so you don't pay for the impurities.
- From the day they're first manufactured, Good Delivery bars are kept in bullion vaults recognized and monitored by the local gold dealing community. Every time bars are moved a careful record is maintained, showing continuous storage through trusted hands. This guarantees gold bar integrity in a way that keeping gold at home, or even in safety deposit boxes, simply cannot match.
- The result is that professional buyers accept deliveries of these bars direct from the seller's vault without re-checking their purity - and that greatly reduces bullion dealing costs. This is why they're called Good Delivery bars.
- Good Delivery bars are large � usually 400 troy ounces each (12.4kg). The professional market doesn't allow you to own part of a bar.
- But having enough money to buy a whole bar or two would only solve half the problem. You still need that relationship with a formally recognized vault to look after the gold while you own it. The starting balance for an accredited storage account is 15 to 20 of these 400-ounce bars, and the agreements take a lot of time, cost and effort to set up.
- These barriers keep private users out.
Direct access to the very best prices
- BullionVault.com changes all this. It enables people from all over the world to own professional market gold and keep it in any quantity in officially recognized bullion vaults in London (UK), New York (USA), or Zurich (Switzerland).
- All BullionVault gold is held in Good Delivery form. So when you come to sell, your buyer is able to trust the purity and weight of your gold, which is guaranteed by BullionVault itself because we know that you never had the chance to corrupt it.
- So the dealing spread is typically 0.4%, about one-tenth of the equivalent cost charged to private customers for gold coins and small bars.
- You can buy just a small portion of a 400-ounce bar. You can trade on-line in increments as small as 1 gram - currently about $20.
- BullionVault is not a unit trust / mutual. There is no 5% front end subscription load. When buying gold you pay a commission whose maximum rate is 0.8%, falling progressively when you invest above $30,000 to the spectacularly low rate of 0.02%.
- Storage charges are down to wholesale rates of 0.12% pa ($4 per month minimum) with insurance included. That's less than a tenth of the storage fees charged by retail banks, and less than one-third the annual fees charged by typical exchange-traded gold funds (ETFs).
- BullionVault customers also save money because they deal directly with each other, willing seller to willing buyer, bypassing the gold dealers by using our order board.
- You make a further big saving at settlement time too. You don't have to arrange for expensive armoured courier bullion collections.
Your safety & security assured
- For as long as you own it your gold remains your outright property, stored in specialist facilities reserved exclusively for BullionVault clients and run by accredited professional vault operators who are wholly independent of BullionVault. You choose the storage location :- London, New York or Zurich.
- You are truly isolated from the systemic risks in the financial system. You have taken legal delivery of your gold and you own it directly in physical form. Unlike the huge majority of investment products no company's financial failure can deprive you of this gold. Lloyds, Via Mat and BullionVault could all fail - and your gold is still safely yours.
- Each and every working day BullionVault publishes on the internet the complete register of all its gold owners � with each owner listed under a public nickname known only to themselves.
- This register reconciles exactly to the official bar list published with it. The bar list is produced by the vault operator, independently of BullionVault. No other custody business in the world subjects its records to this continual, daily, public scrutiny.
- BullionVault is also the only gold market in the world which stays open 24 hours a day, 7 days* a week.
- Because you and all other BullionVault users have a right to sell whole bars directly onto the main market - one of the deepest capital markets in the world - you'll always find a buyer paying a fair price when you want to sell.
- You even have the right to withdraw gold from the vault, although the huge majority of BullionVault users leave their gold right where it is. That way they continue to enjoy the benefits of owning Good Delivery gold which - remember - does not leave the professional vaulting circuit. (There may be additional fees, taxes and reporting obligations for bullion withdrawal.)
- Any purchase you make is settled instantaneously - we checked the seller had sufficient gold in your chosen vault before it was sold to you. Any sale you make is settled instantaneously too - again we checked the buyer had deposited sufficient money before your gold was bought from you. BullionVault offers nobody credit, so nobody can let you down after you deal.
- You can withdraw your money immediately after you sell. Your money will leave your BullionVault client account by the end of the next business day (London time). There is no minimum period for investing.
- For your safety � and to obey international anti-money laundering laws � your money is sent straight back to your original funding bank account. Money transmissions to your original funding bank account are fast, safe and low-cost.**
- And we make sure you can't make an expensive mistake either. You won't be able to buy more gold than you can pay for, or deal at a silly price. Firstly that's because the system eliminates all of these obvious user errors, but it's also because we invite you to phone us, and we'll talk you through your first deal one button at a time. We check that everything is exactly as you want it while you're still on the phone. You'll be amazed how simple it is.
This combination of safety, value, accessibility, transparency and service has quickly attracted 17,000 users. It's created a private bullion store owned by the citizens of 68 countries and worth more than $65m, making BullionVault.com the most popular direct gold ownership service in the world.
Why do active traders choose BullionVault ?
For active traders the bottom line is the cost of trading. Traders cannot expect to make a profit if they are always paying commissions and/or the spread. It's as simple as that.
BullionVault allows active traders to choose to behave like a market professional, by quoting prices. This allows the true trader a negative cost per trade, through the opportunity to earn the spread.
To see the power of this examine the net effect of continuous quoting on BullionVault on an unmoving price with a $2 spread at $620 per ounce. The quoter earns rather than pays the spread - just like a market professional. It soon outweighs the cost of commissions :-
| Annual volume | Buy commission | Sell commission | Spread | Net effect | |
|---|---|---|---|---|---|
| First $30,000 | -0.8% | -0.8% | +0.32% | -1.28% | -$384 |
| Next $30,000 | -0.4% | -0.4% | +0.32% | -0.48% | -$144 |
| Next $540,000 | -0.1% | -0.1% | +0.32% | +0.12% | +$648 |
| Thereafter | -0.02% | -0.02% | +0.32% | +0.28% | +0.28%* |
*%age of your trade volume.
There are very few systems in the world which will grant you access to the spread, and you can see why. Spread access is what really gives you the ability to profit from trading, and that's why most businesses keep it for themselves.
But notice that you are not making a profit at BullionVault's expense here. What is happening is that the liquidity you provide is being consumed by a retail client who is taking the price you make, and paying the spread to you and a commission to BullionVault.
BullionVault, in the tradition of a true exchange, is acting as a meeting place. BullionVault's capital is not employed in the transaction, and the resources of both parties are on hand to settle the transaction instantaneously. This is how BullionVault is at no material risk, and why it is satisfied to earn the tiny amount of 0.02% on your side, which is greatly exceeded by the likely 0.8% of commission which BullionVault makes on customer who accepts your price.
We think this is fair. A long term holder who trades infrequently pays a higher commission for a service he uses infrequently, but where he expects to find ample liquidity when he wants to sell. A liquidity provider pays a much lower commission rate which means he can earn a profit from providing liquidity. More to the point - and this is very important - people are entirely free to choose which one they want to be. The commission rate simply reduces automatically as people trade more.
BullionVault's objective is to be the cheapest, safest, and most accessible worldwide market in privately owned gold bullion. There is no safer way for private individuals to deal in and own gold, and there is no fairer proposition to the trader. But always be aware that trading is a risky business because markets can swing against you. When you quote prices you need to be ready to act as markets move, otherwise you will find your prices become unduly attractive to other participants.
Your bullion's physical storage
Your gold is held in one of the world�s strongest and most trusted specialist bullion vaults, operated on our behalf by Via Mat.
You choose in which Via Mat vault your gold is stored from one or more of the following locations:
These three locations cover the three most active bullion markets in the world and give you an opportunity to select an offshore jurisdiction for storage.
You buy your guaranteed quality gold only when it is already safely in the vault. Bars are always insured and they do not move. Even in the course of delivery from BullionVault seller to buyer the gold stays securely in the vault.
You can at any time prove your individual ownership of gold in the vault by comparing the Via Mat bar list to an individually nicknamed list of all BullionVault holdings published on a public page on the BullionVault.com site.
Why is my bullion not stored in a bank ?
You may be surprised that your gold is not stored in a vault run by a bank. Why not?
The short answer is that nowadays banks operate the wrong kind of business to be willing and reliable custodians of your gold.
Modern banks make their money by providing credit, and by executing transactions. They have little enthusiasm for a low margin role as physical custodians of bullion. Very few of them actually manage bullion vaults at all.
They will - nevertheless - be pleased to provide you with unallocated gold which in most cases is probably not the form of gold which properly informed private buyers are looking for. [Click here for a full explanation of unallocated gold]
BullionVault does not provide unallocated gold. BullionVault's gold owners own their gold outright and on their behalf BullionVault seeks a vaulting system and a custodial relationship which meets the following criteria:-
- the vault management company must be long established, substantial, and 100% trustworthy
- the maintenance of physically secure facilities must be at the heart of its normal commercial operations
- the core business must not be based on, or related to, the creation and sale of financial or credit products
- the operators must be very experienced in managing bullion
- the operators must have multiple international vaults under their management
- the operators must be competent to undertake international shipments of gold
- the operators must be fully authorised by their local bullion community to take delivery of Good Delivery Bars, store them, and deliver them up at sale as good delivery.
We believe Via Mat fulfils these criteria to the very highest levels - and we believe Via Mat's Swiss heritage and ultimate ownership provides the most solid and responsible of custody environments.
Protection for your gold
In the vault your gold is soundly protected.
- It is insured.
- It exists under the jurisdiction you choose, so you yourself select the government and legislative structure you trust to protect your property. You can switch jurisdictions in moments.
- Access to your account is protected with state of the art encryption technologies - but BullionVault is designed to allow account access to be compromised and still keep your property safe.
- Withdrawal restrictions ensure value on your account is returned only to you.
- You can at any time monitor BullionVault records to prove they correctly assign vaulted gold to you.
Insurance
In a vault gold is so secure that it is extremely easy to insure, and not expensive.
Via Mat arranges the insurance for us and the insurance certificate is available to be viewed on the website.
The cost is included in your custody charge.
Offshore custody
Government action against gold owners can be a material risk. This is why BullionVault enables you to secure your gold offshore and to transfer its location at minimal effort as risks in given locations change.
It is very difficult for a government intending domestic gold confiscation to apply it on gold held overseas. Conversely it is surprisingly easy where property rights depend on domestic legal arrangements.
With offshore storage it is important that foreign held assets are not subjected to military or political threats. In different ways Britain, Switzerland and the United States of America are marked in their suitability under these criteria.
All BullionVault customers - wherever they live - can benefit from offshore custody by making an appropriate choice of storage location. Residents of these countries also have the option of domestic storage if they prefer it.
BullionVault account access
Your account is protected by some of the most secure cryptographic methods ever devised. These are widely recognised as offering a thoroughly secure means of data communication and are the technical protocols in wide use by banks, governments, and other highly secure users of the internet.
But we do not accept that the ciphers could not in future be broken, or your passwords found out.
Because of these very real risks BullionVault has assumed that against the odds your internet access will be compromised, and we have implemented substantial further safeguards to guard against such an eventuality so as to still keep your gold and your money safe.
-------------------------------------------------------------------------------------------
Whew! That was a LOT of information. I hope you've read through the majority of it in order to get the background knowledge about BullionVault and to see why this is one (I say it is THE best) of the best ways to own gold!
I realize some of you might have just skipped to the end and all you're interested in finding out BullionVault's website. Ok, you'll get what you wish.
Click the link below to find out more about BullionVault or to create an account:
Buy gold online - quickly, safely and at low prices
Infinity Shares - NFP Loss, -1.43%
Infinity Shares came back with a -1.43% loss, on NFP trading yesterday.
"
Good day,
As some members might already know, IS has started trading again this week with our new broker. We did a few profitable tech trades at the start of the week with partial lots, but nothing spectacular. We did, however, decided to end the week with a trade that was 90% sure in our books (as I explained to a member earlier about reports coinciding with technical indicators) After the strong non-farms and ISM reports, plus the overwhelming technical indicators directing a bearish trend for both GBP/USD and EUR/USD pairs, we decided to enter a short position on the EUR/USD pair after both reports and after the euro broke the 1.3400 support. The pair did go down as predicted, but due to a number of events like short-covering the euro ahead of the weekend, plus renewing of EUR/JPY positions led to the pair not only recovering what it had gained from the strong US-biased reports, but even showed the EUR/USD to be testing resistances on the 60/63 level.
To make a long story short, not only did we lose our short-term gains for the week, but ended the week with a little loss. Not to worry tho, we are confident that next week would be another story and we should be back to our normal rythm of trading again.
Results for this week -1.43%
(Share price adjusted from 3.48 to 3.43)"
Jun 2, 2007
PTRKingdom: confirmation of payment
I've confirmed PTRKingdom as a paying PTR program. To join CLICK HERE!
"Congratulations!
Your payment request has been reviewed and money sent to your payment processor.
Payment Details:
Payment Method: e-Gold
Account ID: xxxxx (erased for privacy)
Amount: $0.13
Request Date: 05 31st, 2007
Payment Date: 06 1st, 2007
Thank You Very Much,
PTR Kingdom :-) "
GainPay: new paying PTR program
I just confirmed payment from another PTR program that I was testing called "GainPay". They pay via paypal, and here is proof of payment:
| May 18, 2007 | Payment | From | TSAI WEN-WEI | Completed | Details |   | $1.00 USD |
I guess the name of the gentleman who runs the program is TSAI WEN-WEI. From my understanding he is based in Taiwan.
| Name: | TSAI WEN-WEI (The sender of this payment is Non-U.S. - Verified) | |
| Email: | ad@gainpay.com |
If you'd like to join this program click the banner below! Ejnoy, and I hope you make a lot of money! - more than my $1 lol :)
Jun 1, 2007
Review: Red Hot Silver (invest in silver bullion)
BANNER REMOVED
READ THE COMMENTS BELOW THIS POST AS NOW THIS PROGRAM HAS BEEN REMOVED FROM MY BLOG. I AM ONLY KEEPING THIS POST FOR REFERENCE PURPOSES AND SO PEOPLE CAN COMMENT ON IT AND SHARE INFO.
Hello folks. While browsing around I came across what looks to me like a promising investment opportunity for those that are interested in precious metals. This program is called Red Hot Silver, and I believe it is managed by the same folks who manage EasyBullion (online bullion retailer).
I must admit I'm new to this program as I've just joined it today, so I thought I'd let you folks know about it in the hope that it might meet your investment criteria. Being a big fan of precious metals, I like the program and think it would be a great opportunity to earn a generous return with no work on your part.
Ok, here is how the program works:
You purchase real silver and leave it in trust with RedHotSilver. They issue a silver certificate with a set return price depending upon the plan you choose. Once you have allocated and received your certificate they will get to work developing the profits of the silver bars they purchase on your behalf.
They do this by:
Global Online Buyers Retail/Wholesale
Ebay Buyers
Home Investors
Business Investors
Retail Outlets Offline
Once the investment term is over you can choose to cash out your investment either in fiat money (bank wire, paypal etc) or in silver bullion bars (I like this one :) best).
Here is some FAQs:
-------------------
FAQ's
Will I get my principal back?
Yes. Your principal is included in your re-purchase amount which is payable at the end of your purchase plan term.
Does My Interest Show Online?
NO. We do not pay weekly or daily interest etc. When you make a purchase your order is shown on your account, including your re-purchase amount. This information is also shown on your purchase certificate.
So I get a Product?
Yes. When you purchase you get a Silver Certificate and depending on the amount of your purchase actual Silver bars as well.
What Deposit Methods Do You Accept?
We currently accept:
Bank Wire
EGold
Credit Cards
Debit Cards
MoneyBookers
PayPal
Can I Have Multiple Accounts With Red Hot Silver?
NO. Only One account per person is allowed.
What is The Minimum Purchase Amount?
Our Silver purchase plans start for as little as $25.
What is the Maximum Purchase Amount?
$20000 is currently our maximum for any one person, however if you would like to make a purchase larger than this amount, contact admin for further details.
What about Paying Taxes?
Each individual is responsible for paying all relevant taxes in their country of origin.
Must I be certain age to participate in red hot Silver Program?
Yes, you must be at least 18 years old or at legal age at your country.
Why do you collect my data (Address, First Name, Last Name, Phone Number)?
We do collect data so that we could identify he true owner of the account if any security problems aries.
Can I make multiple plan purchases?
Yes, mutiple plan purchases are welcome, we advice that you should use long term buying multiple cerificates as you can afford as this is secure and long term.
There are four investment plans, and here they are:
Original Investment Strategy:
------------------------------
- 200% guaranteed return
- 14 month re-purchase period (that means the investment term ends in 14 months)
Conservative Investment Strategy:
-----------------------------------
- 300% guaranteed return
- 24 month re-purchase period (2 years)
Balanced Investment Strategy:
--------------------------------
- 400% guaranteed return
- 36 month re-purchase period (3 years)
Aggressive Investment Strategy:
---------------------------------
- 500% guaranteed return ! insanely great but it read below
- 48 month re-purchase period (4 years)
UPDATE: I HAVE DECIDED TO REMOVE THIS PROGRAM FROM MY BLOG FOR FEAR THAT IT MIGHT END UP BEING A SCAM. READ THE COMMENTS BELOW FOR FURTHER DETAILS.
Review: ForexCurrencyClub - Grid trading forex signal provider
Greetings. Today I am going to review a FOREX trading signal provider called ForexCurrencyClub. I have been using this service for a few months now and it has brought me great results. The service is provider by a friend of mine who happens to be a very good forex trader. His "grid trading" strategy gives excellent results. So long as you maintain continuous membership, our introductory fee structure is: WHAT YOU RECEIVE: Upon receipt of your new subscription and payment of fees, we will email you a confirmation, along with the current version of grid trading software you will need to trade our grid signals. Included are instructions for how to install the software and use it with our signals. This software will be yours to keep should you decide not to renew your membership the following month. It can be used for trading grids whether you use our signals or not, or for trading your modified versions of our signals should you so choose. There are absolutely no refunds for membership or software fees under any circumstances. We encourage you to practice setting up and running a grid on a demo account, before going to real money. To that end, we will be sending signals right away, and will make the official start of your 1st month's subscription 1 week after the date on which we send you the software. Thereafter, that day of the month will be your renewal day for continuing membership. We suggest that you open a brokerage account BEFORE you subscribe, though this is not necessary. Brokerages will permit you to open a demo account very quickly (often the same day) with which to practice, and you can always do that as preparation for receiving the software and our signals. Be aware that opening a live trading account can take a week or longer, depending upon the manner in which you transfer your funds to the brokerage. NOTE:When you subscribe, Please select the type of software you need. UGMFX.com 4.0, interbankFx or FXDD 4.0, or interbankFx or FXDD 3.8. Thank you!
Note, this is not every everyone, only those who have at least some basic knowledge about forex trading should apply for this service; yes, it's not free - nothing this good ever will be free!
Just to wet your appetite here are the trading results:
2006:
pips percent
Sep +2075 +83.0%
Oct +2145 +85.8%
Nov +1617 +64.7%
Dec +209 +8.4%
TOTAL +6046
2007:
Jan +746 +29.8%
Feb -1250 -50.0%
Mar +492 +19.7%
Apr +606 +24.2%
May +1189 +47.6%
1st month: $79 subscription plus $49 one-time fee for software
2nd month: $79 subscription
3rd month: $129 subscription
4th month and after: $179 per month subscription -- REGULAR PRICE*
If you subscribe, then withdraw, and wish to resubscribe, your rate upon re-subscribing will be the REGULAR PRICE, currently $179 per month.
I am quite pleased with the pricing structure. It is very affordable given the results that our grid trading system produces.
FAQ:
1. How do I subscribe?
- Go to the Disclaimer page, read it carefully, then click the link at the bottom of the page.
2. Do you offer a free trial period?
- No. We offer introductory rates for your first few months, however, and we encourage you to take advantage of these rates while they last.
3. What are the different ways to pay for subscriptions?
- Visa, MasterCard, Discover, or PayPal.
4. When do subscriptions actually start?
- Your subscription will start on the date we email your confirmation and software, and begin sending you signals. Please note that your first renewal date will be 5 weeks after this -- so you receive about one week extra in your first month.
5. Do subscriptions automatically renew?
- Yes. Your first renewal date will be 5 weeks from the date on which we email your confirmation. Thereafter, it will be on the same day of the month as the first renewal date.
6. Exactly what will I receive when I subscribe?
- When we have received your information and payment, we will send you a confirmation email, the trading software, and User Guide. The User Guide will explain how to install and use the software, and how to read and understand the signal emails that will follow as soon as the next one is generated.
7. How do I cancel a subscription?
- Send us an email at least 3 business days BEFORE your renewal date.
8. Can I receive a refund if I cancel my subscription before the renewal date?
- There are absolutely no refunds for any reason for partial months or early cancellation.
Here is how you can subscribe to this service:
step 1: e-mail me at allinvain6 at gmail.com and I will send you a special code
step 2: with the code you will receive a direct link to the subscription page
step 3: once you're subscribed and you've paid for the service you need to send an e-mail to the administrator of this service telling him that I've sent you and mention the special code that I will be sending to you.
Here is the e-mail: info at forexcurrencyclub.com
step 4: follow the grid instructions (received by e-mail) and sit back and watch your account grow :)
-----UPDATE JULY 11, 2007--------
THIS SERVICE IS NO LONGER AVAILABLE!!!!
Feederfund Closing Officially
31 May 2007
It is with deep regret that we have to inform you that FeederFund is closing down. It was set up with the desire to provide an opportunity for small investors to take advantage of high risk, but equally high return unregulated investments as per our Membership and Subscription Terms.
As you know, some of those investments did not do well and the information below is a summary of how we dealt with accounts in those programs once they failed.
ArbClub
Oct-2004. We were able to negotiate an immediate settlement of our account for a small loss, which wasn’t passed onto Members who retained their full profits. (41.5% over 6 months)FSI
Mar-2006. FSI is now being liquidated. No futher interest will be paid to this program. FeederFund Members need to transfer any funds in FSI to another Program. Members retained their full profit (243% over 19 months).CIubInvest
Apr-2006. ClubInvest is now being liquidated. No futher interest will be paid to this program. FeederFund Members need to transfer any funds in ClubInvest to another Program. There have been losses associtated with this Program, but none passed onto Members. Members retained their full profit (108% over 28 months).Club4X
May-2006. Club4X (4X-Club) posted a 33.6% loss as of the first week in May. This was a revaluation based on the write off of their trading account in Refco. This loss was in fact higher, but a substantial amount of capital from the 4X-Club Principals has been added to reduce that loss. Club4X will not be accepting any further members or deposits, but will be continuing to trade existing Member accounts at least to a break even position. Members retained their full profit (55.5% over 11 months).CC
May-2006. ChartCandle was removed as an Associtate Program due to low returns. Members retained their full profit (12% over 10 months).LF
July-2006. LeopardFund was removed as an Associtate Program due to our concern over trust. Members retained their full profit (55.13% less withholding tax, over 9 months).It should be clear from our actions in regards to these programs that we have tried to act in a professional and equitable manner when there have been problems. Recently the losses associated with FXIG and the news of the fraudulent deception by PSHI have caused major concern over the level of loss that might be sustained and the situation with ITS still remains unresolved. To say the wheels have come off the bus would not be overstating the case.
Due to this dire situation, and the risk of legal action by some disgruntled members, the decision had been taken in April to liquidate all the assets of programs that could be accessed and make full balance repayments for these programs, namely SAF, NSFG, JoyFund, ILC and the Cash Account. However, in trying to do the right thing, this action has resulted in our complete undoing.
In April, all these programs were liquidated and just under $300K of e-gold was attained ready for these settlements to be actioned. Then E-gold was indicted and most of the large Exchangers had their accounts seized. The timing was appalling, but at that stage there seemed very little we could now do about the situation and the plan was to continue to make the payment in e-gold to ensure that our liability had been discharged before anything else went wrong. We were quite confident that the assets in e-gold would be able to be out exchanged by the members at some point in the future and we wanted to ensure that settlement of all liquid accounts was achieved. That is now unfortunately not going to happen.
Earlier in the month we transferred all the e-gold to our main E-gold account ready for these settlements to be actioned, but one day later, the account was frozen, preventing the process from occurring.
Below is our discussion with E-gold regarding this action:
>> —–Original Message—–
>> From: ffadmin@feedernews.com [mailto:ffadmin@feedernews.com]
>> To: 7eLO2428_ddu@e-gold.com
>> Subject: [e-gold-ddu] Access to Account … [PR: ZBBTBUDZ]
>>
>> CATEGORY: DDU
>> Customer Name: Matthew Calder
>> Email: ffadmin@feedernews.com
>> Phone:
>> Fax:
>> e-gold Batch:
>> e-gold Account: 1063249
>> Question: Dear Sirs,
>>
>> Access to Account 1063249 has been declined. A substantial amount of
>> e-gold had been acquired to provide full balance payments to all
>> subscribed members. If access to our account is not re-established in
>> the next 48 hours then we shall issue account settlements for all
>> Members and notify them to contact you to make the necessary
>> payment from our account.
>>
>> Yours sincerely, Matthew Calder.
>>
>>
> ——– Original Message ——–
> Subject: RE: [e-gold-ddu] Access to Account … [PR: ZBBTBUDZ]
> From: EG DDU <7elo2428_ddu@e-gold.com>
> Reply-To: <7elo2428_ddu@e-gold.com>
> Organization: G&SR INC
> To:
>
>
> Sir,
>
> Your e-gold account was frozen pursuant to a court order issued by the
> United States District Court for the District of Columbia case number:
> 07-198-M-01.
>
> Thank You,
> Due Diligence Unit
>——– Original Message ——–
Subject: RE: [e-gold-ddu] Access to Account … [PR: ZBBTBUDZ]
From: FFAdmin
Reply-To: FFAdmin@FeederNews.com
To: 7eLO2428_ddu@e-gold.comDear Sir,
This is a truely calamitous situation. That gold was to be used as full and final payment of outstanding liquid liabilities. This now puts us in an impossible situation. We have a UK legal company deal with our affairs normally but we are in the process of finding a US lawyer to see if there is something that can be done. It would be a great help if you could provide us with more information so we have an understanding of what has happened and what action might be taken.
Ideally can you please send us the Court Order which will answer the first two issues below.
First and foremost, we need to find out if this is an injunctive relief or if a judgement has been passed against the company or individuals.
Secondly, we need to find out who is bringing this action? Is this the work of a US government organisation, or a private action being taken by an individual member in what will effectively be a smash and grab raid much to the detriment of all other members. Either way it is a disaster for the members, but in the latter case, it may be possible to ensure that some benefit is gained by them.
Thirdly, if the action is being brought by a single member, what will happen to the assets? How do we find out what account they have been transferred to so a class action may be considered for the benefit of the other members? This is a very large amount of money so what happens to any surplus of their claims as this will certainly be the case?
This is a truely terrible situation and will result in us being unable to met our liabilities which could result in further legal actions being filed against us. All of this on prima facie evidence which will be impossible to defend against.
From here we will be doing all we can to help all members reach some settlement, but our backs are really against the wall now and we need to protect our own interests as well.
In regards to the action being taken against you by the US Government, we do offer our best wishes. We have found e-gold to be a straight and professional organisation. It is an extremely difficult area to work in with the legal and polital pressures on the one hand and the scammers and hackers on the other. We wish you luck for the outcome.
Yours sincerely, Matthew Calder.
——– End Message ——–
Our answers came soon enough, not through E-gold, but through our own lawyers. The court case reference was the same USA vs E-gold indictment that allows for the forfeiture of E-gold assets by the US government for specifically the operation of any unlicenced exchange operation or any unlicenced investment.
There is not the slightest hope of recovering this money. This action is not an injunction, it is a forfeiture (confiscation) of e-gold assets. The principal targets were the large exchangers, namely 1mdc, Icegold and Omnipay but dozens of large accounts have also been seized. We understand that the US government has already forced E-gold to pay them $11-15 million by exchanging this amount of gold associated with the forfeitures. For any hope of this money to be returned, E-gold would have to be found innocent and despite that being the case, this is not the outcome that will prevail through the courts, in our opinion.
This situation means the almost total ruin of FeederFund and there is absolutely no way that it can either try and recover these losses or on the otherhand, make any further offering with such potential legal issues surrounding it. It is an extremely sad and disappointing end, especially as we had made significant inroads to finding very profitable and stable regulated opportunities. We had high hopes for FeederFund but ultimately it has failed for many reasons, some within our control and others beyond it. We know many Members will be very angry and upset that it has come to this, but there is little more to do apart from liquidate the remaining assets and move on with life.
We deeply regret what has happened and any hardship this may have created for Members. For our part, FeederFund has been a major loss for us as well. We had invested heavily in FXIG and PSHI and have lost significant amounts of capital as a result. We have come out with more experience and some important lessons and hope that Members have likewise.
As you can imagine, we have received numerous emails over the last 2 months covering the full spectrum of emotions and opinions. Some members have refused to accept any respsonsibility for any loss and demanded their full balance of all investments. This is obviously not going to happen. For these members we would remind them that they did agree to the Terms of Membership when they joined and paid a subscription for the private information and services provided by FeederFund. Those terms included:
FeederFund is a private organisation. Membership is only available by referral from an existing Member.
FeederFund provides private information services and also administers various private account management facilities for its Members.
Applicant shall not disclose the terms, conditions, or particulars of FeederFund Membership to any person.
Applicant declares he has not being solicited by FeederFund to become a FeederFund Member.
Applicant agrees to hold harmless and free from any liability, the Proprietors, Directors, Programmers and Staff of FeederFund, from any damages or losses, whatsoever and howsoever arising.
In regards to any investment Applicant may make as a result of information provided by FeederFund, Applicant agrees that:
a. The investment is made of his own free will and he shall take full responsibility for the decision.
b. Applicant shall only use risk capital for any such investment.
c. Applicant understands that past performance is no guarantee for future performance.
d. Applicant understands all disclosed investments are high risk and the value of investments may fall as well as rise.While most members are angry with the outcome, others have been philosophical about the situation and asked us to keep in touch regarding our plans for opportunities based on regulated offshore investments. For those who might be interested in this, please click the link below and let us know.
Click here to stay in touch
In regards to the liquidation, we have appointed a third party organisation to manage this process and have provided access to all assets for them to distribute. With the losses from e-gold wiping out the funds associated with SAF, NSFG, JoyFund, ILC and the Cash Account, these are now only the recovered funds from FXIG, the ITS account and the $19K reserve fund.
Every Member who has made a deposit to FeederFund and not previously closed their account and wishes to make a claim against the remaining assets will need to logon to the new website being provided by this organisation. Members have until the end of August to make a claim against the remaining assets by simply logging into the new website.
The liquidation website is http://www.f-management.com/logon.php.
We re-iterate that you will need to logon to that website using your normal FeederFund Username and Password before the end of August if you wish to make a claim against the remaining assets of the company.
This website, feederfund.com, will be removed at the end of June.
Kind regards,
Matthew Calder,
for FeederFund SA.
