mitch9088,
All we have is belief, faith and trust that it'll be back next year. Without it we may as well post no longer on this forum and move on.
Printable View
mitch9088,
All we have is belief, faith and trust that it'll be back next year. Without it we may as well post no longer on this forum and move on.
that's the problem nobody knows if the money in our accounts is real or not
woody!...it is most likely VIRTUAL money!Quote:
Originally Posted by woody
It is better to realize that this was a huge JIPPO and that it was fun as long as it lasted!....but my advise is:..."be prepared for the worst"!
In case Santa reappears and pops up sometimes in Jan-March 2006, look at it as a bonus!
hine
I agree and I want to know why this happened
I understand!Quote:
Originally Posted by woody
On the surface, PIPS was a rosy story supported and trusted by thousands of members and cheerleaders!...Behind the curtains, PIPS as a multibillion dollar operations was a caos mainly run as a one man show, and a general manager that was a big joke!
Such operations can nerver succeed or survive!...
hine
Behind the curtains, PIPS as a multibillion dollar operations was a caos mainly run as a one man show, and a general manager that was a big joke!
100% agree!!!
You guys have to remember that at the time you loaned your money, it is no longer yours. You have already risked it by lending it, that is why there is a thing called "underwriting" in the lending industry. Pretty simple.
According to my definitions, PIPS was never a borrower!....Quote:
Originally Posted by skhang
Anyway, the difference skhang between a lend/borrow situation and PIPS/picpay is that members had their funds (owed) sitting in AF (Available Funds) and picpay, like in their own bank account. My speculation only is that those funds were never secured (backed) by gold or any financial securities, even if the PIPS/picpay web-site said so.
But your description re. high risk (PIPS) is correct, and in the professional investment market, BONDS it is quite common with payment default!
hine
Hmmm, you sure "underscored" there with your recap for many about to lose their minds on these.... Cheers to your hindsight SKhang!http://img.photobucket.com/albums/v4...ads/Cheers.gifQuote:
Originally Posted by skhang
It sure is whenever I send funds to any other investment site! I feel so helpless and pray all the way thru to time it pays. If it don't ever pay, then I know another thief has persauded me to part with my funds. I have never gave funds without knowing they could just as easily be lost. I have always known that. But many members here have forgotten that fact.
They could not have had a lot of confidence in any of their investments when the company was first beginning. After P*PS was paying for a while, yes, many jumped at the opportunity for high returns. I put more into my account for it to grow a little quicker. Wanted to get some of that big bucks, lol, but the first of this year we learned that the BIG bank, Citi Bank, withheld Bryan's wires, costing him a mega investment and us our december funds, which were many. Guess how much they are probably hoilding. That was what hurt so profoundly. The rest was a repeat of their actions as other banks closed down on funds sent into them for disbursement and investments.
There were people talking in the P*PS forum at the time about calling the bank to ask about late payments and trying to get the bank to process their withdrawals. Also around this time, there were many fraud P*cP*y accounts and fraud P*PS accounts that had to be cleared up, slowing down the girls on staff that were also expected to handle the orders of WDs to banks. It wasn't just bad management. It was a mess that started snowballing out of site as people kept putting in for WDs(some putting in as many as 40 WDs in a month)!
Members don't have some of the responsibility for the mess? Sure they do. But there are those who did not do this as well, who withheld themselves from adding to a growing problem and I applaude them as true PIPSTERS. I tried to encourage many to withdraw some of their WDs to lighten the load, but heck no! They wanted their money at any cost. I had the staff to remove my WDs and decided to just wait to see if the problem could be fixed. Becaues I knew quite sensibly that and overflooded WD situation would possibly bring down the whole ball of wax.
I regret to say that I foresaw most of what has happened. I didn't expect BON to step in the way they did, but feared someone would with all the complaints being made.
As for saying BM could have had better communications, you just saw how any communications from him is treated and has been since Janurary. He used to chat with the members in the forum. He enjoyed communications when he could. But the problems kept him so busy defending the company in so many ways and attempting to negotiate with banks and systems that he had little time to rest, much less take up time to chat or update. It takes more than a few minutes as situations usually require more posts. LOL, me. I'm doing it so long here. I get interrupted like crazy during the early evening so I have a message screen up for a while, LOL.
Well, I want to say more but I'll have to let go here..LOL:biggrin: