Thread: PICPAY for CASH

What should be done to the many pipsters who took cash for picpay? These pipsters were encouraging people to bring them cash, even when things were starting to go south.

I really want some true opinions on this. Something must be done.

Pipsters in the Fort Worth Area took Very large sums of cash for picpay. I'm, talking hundreds of thousands of dollars.

I dont think there is much you can do about it. These people could not know what was going down. And no one knows the true story and its ending...

Those people who received mucho dinero must be encouraged to donate a small percentage of that money to the BM Helpfund and they MUST BE ENCOURAGED RIGHT NOW!!!

Wouldn't that be a nice thing? The rest of us could also put together a fund for the pipsters that are having a rough go of it right now.

What do you really hope to accomplish other than inciting people against each other by what you are posting? When this comes out on the other side of the storm, you are just going to be ashamed of the words that you cannot take back.

If you really feel like there is no return of the program, move on. Stop looking for a scapegoat, someone to point the finger at and say, "come on gang, let's get 'em and string 'em up."

This whole thing was built to help people. It seems to have had some set-backs, however that does not stop us from doing what we can to bless others.

If we all just put 1 or 2 dollars of egold into a fund a week, I'm sure that fund could bless some real people in some very real ways.

No, I have never received a cent back on my loan, but I got in for the same reasons that I have mentioned above, to help others.

Let's turn all of these threads positive by helping new people each week. Individually it would be too much of a burden, but collectively, it is a small thing, only 1 or 2 dollars a week.

We can do this.

Thanks,
Lloyd(mmfast)

May HIS best be yours in 2006

My point is they knew things were going bad and still took money from people. How is it fare that they get to run off with hundreds of thousands of dollars. what about paying taxes on that money? YOur turning a blind eye to a huge problem. It's Illegal and morally wrong.

Originally Posted by ragstoriches

My point is they knew things were going bad and still took money from people.(...)

Imho this is a generalisation and as such too easy an assumption. Can you clarify: what did you bring to this conclusion? What's 'Fort worth area'? Who was when bringing which people in, what did (s)he (in your opinion had to) know and what of this knowledge did (and didn't) he tell them? And... in case this person hadn't accepted this exchange... would these people still have joined or not... and if not, wouldn't that have been only because it would have been 'too much hassle' (in other words: didn't he just help them avoiding extra efforts needed to do international wire transfer and transaction fees)?

Fyi: this exactly the way I got in... fall 2004... with just that kind of help of a friend. Didn't see a dime back yet. But it was my decision, my responsability so I am still standing behind him (and I wouldn't be surprised if the majority of those you talk about is just the same kind of people).

Originally Posted by ragstoriches

My point is they knew things were going bad and still took money from people. How is it fare that they get to run off with hundreds of thousands of dollars. what about paying taxes on that money? YOur turning a blind eye to a huge problem. It's Illegal and morally wrong.

well thats up to the individual & circumstances. I wasn't going to take anything out of my account but a friend kept asking (actually more like harrassing for 2 weeks ) me to take out $1000.00 so he could join without sending a money order etc. I tried to get him to waituntil things got straightened out because of the situation of payments but he didn't want to , so as far as giving money back well ???????? what would you do ????

I think ragstoriches is referring to those who actively sought new members for the sole purpose of doing a Picpay for cash transaction. It seems that some of these dealers of Picpay were continuing to do business even when they knew PIPS was having problems.
Also, we know that some of these dealers were dealing in fraudulent Picpay and that it ended up contaminating a lot of Picpay funds. Personally I wouldn’t be at all surprised if it turns out that the fraudulent Picpay issue is close to the heart of what went wrong with Picpay. I’m not suggesting it was the only problem, but I do believe it’s very significant. Sorry, I’m getting off track here!

I'm in the situation were I used my picpay to get some of my work colleagues in to PIPS. The very fact that I went to Hawaii had them clamouring to join. I told them this :-

"This is a high risk investment where you could put money in while having your cornflakes and the whole thing can go up in smoke by the time you get to your mid-morning coffee break"

They still joined. I even ordered more than enough gold in the picpay merchant system to cover their investments but we know what happened there! As an aside - this never gets mentioned that PIPS was still paying merchants up until near the BoN raid (which goes against the mantra of no payments since Dec 04). Abuse of the merchant system is part of the mess we find ourselves in today.

I do have a contigency to pay them back (diversification is a wonderful thing!) but I know for many this is not an option.

BUT, my gut feeling is that PIPS will be back, althoiugh in a much altered form, so hopefully I won't have to put Plan B into action :-)

Cap'n Feathersword

It all boils down to PIPS itself. If the company didnt get all frozen up, do you think we would be worrying about the folks that did exchanging?

Most of what is in this thread is pure conjecture..If this happenined...IF this didn't happen..IF..IF..IF...Well,.....IF frog had wings they wouldn't bump their butt every time they jumped...


Cheers
Roo