Thread: Picpay Gold

this question gets people burrying their heads in the sand.
if pic-pay was never backed by gold then pips was a you know what from day 1.
how can we find out, anyone know?
:(

The investigators will find out.
Its a very decisive challenge that PIPS is facing.

Hopefuly PIPS will be vindicated..

[quote="Wolf"]

Originally Posted by gameplayer

The idea that picpay was backed by gold is nothing I have ever heard

This is a statement from the PicPay site:

"PICPAY provides the Public and Merchants with a safe, fast alternative to receive and transfer payments online, member funds are secured and backed by gold in our storage facilities in Australia."

If this is not true then we are talking MAJOR FRAUD.

This is pure speculation, but my gut feeling is that no gold was ever bought.

Boatman!

I requested on several occations by email from PIPS and picpay management in 2003 and 2004 whether PIPS Available funds and later picpay was secured by any financial means. I never received any response!....

I also requested the same on the PIPS forum without any response from PIPS management, except that some pioneers was convinced that picpay was backed by gold and that Bryan had said so!....

We can only speculate but again that is PIPS and picpay in a nutshell!....

Quality!!!!!!

hine

Originally Posted by boatman

No speculation here.... Bryan clearly stated Picpay would be backed by gold, every penny.

Is that why we cant get W/D's processed - he went and brought Gold with it all :roll: Given the timeframe (seconds) to transfer from AF to Picpay and request W/D from Picpay, this is highly unlikely.

Originally Posted by Invest007

Originally Posted by boatman

No speculation here.... Bryan clearly stated Picpay would be backed by gold, every penny.

Is that why we cant get W/D's processed - he went and brought Gold with it all :roll: Given the timeframe (seconds) to transfer from AF to Picpay and request W/D from Picpay, this is highly unlikely.

What are you saying?

Look, buying the gold is a good thing, not buying the gold is bad.....is very very bad.

OK?

Yes I agree buying Gold is a good thing, but the Gold storage as I understood was for the purposes of the Cambodian Bank and held by PIPS Financial Services Inc. (registered in Panama), not for the purposes of PicPay.

Originally Posted by Invest007

Yes I agree buying Gold is a good thing, but the Gold storage as I understood was for the purposes of the Cambodian Bank and held by PIPS Financial Services Inc. (registered in Panama), not for the purposes of PicPay.

That is incorrect. This is what i would expect Bryan to say now..

The Picpay site clearly stated on one of the pages that Picpay funds were backed by gold.