Thread: Banners Broker HYIP ponzi scam

fyi... Celebrity Gold Medalist Diver Peter Waterfield Joins Banner Broker - YouTube

Originally Posted by geeeeeeez

fyi... Celebrity Gold Medalist Diver Peter Waterfield Joins Banner Broker - YouTube

haha.. oh god. You'll notice he also uploaded a Robert Kiyosaki video a couple of months back. Ask just about any of these hardcore suckers who jump from scam to scam if Rich Dad, Poor Dad is one of their favourite books, and they'll answer yes.

It shows that just about anyone can be susceptible to the scam bug, even people you'd imagine would know better. In fact, within the past few years some of the biggest MLM scammers out there have put much of their "earnings" towards Scientology... in search of Xenu no doubt. It's funny seeing scammers being sucked in by an even bigger scam. But anyway, that's a separate topic.

Hello everyone.

I've been reading this thread with much interest for quite some time now. As an introduction, I am the author of a blog post that has been referenced quite a few times on here over the last few days: Regarding Banners Broker | A blog.

I actually wrote that blog article for the benefit a few personal associates who have gotten themselves involved with Banners Broker. Originally I was just going to write an email or maybe a .doc file and send it out to them. Instead, I decided to just put it online, as it is more readily accessible and works better with all the links I've put in there. That's why there's absolutely nothing else on the blog - it was never really meant to be public! I knocked it out one evening and I didn't even send it out to anyone, so I was *very* surpirsed to wake up the next morning with a bunch of comments and ping-backs, and to find that it was being discussed here!

It seems that Finch must've discovered it first from a trackback to his blog, and then he put up the link on the Facebook group. I've got no problem at all with it being made public, however. I'm grateful for the positive feedback in fact. I'd like to mention that much of the inspiration came from information that I've come across on this very thread, so thanks guys!

Anyway, I'm considering writing a follow-up, because some of the affiliates that I've spoken to over the past few days have come back with counter-arguments about how the business model is different to how I have explained it. No surprises there, really, but I think I might be able to give the same treatment to any objections they have raised.

The overall purpose is to *help*. These are my friends and associates, and I don't wish to embarrass them or make them feel foolish. The whole idea was that once I had become certain in my conclusion about the true nature of Banners Broker, I would be remiss not to communicate this to them. Then, it is up to them to decide how they wish to proceed. I hope others can use it for the same purpose.

Regards,
Michael

Originally Posted by caecilius

... I'm considering writing a follow-up, because some of the affiliates that I've spoken to over the past few days have come back with counter-arguments about how the business model is different to how I have explained it.

Hi Michael

You may consider posing the question "Why do BB have affiliates?"

As I see it, affiliates only cost BB money, because BB offer to pay them out much more than the affiliates put in. The original claim was to “double your money”.

When BB started, maybe they needed affiliate money for working capital. But according to BB, the company passed the multi-million dollar turnover stage almost 2 years ago. If they didn’t have enough money by then, they could easily have attracted venture capital far more cheaply than doubling the money of multi-thousand affiliates. And with a fraction of the admin costs.

Affiliates do no “work”, they just make a few mouse-clicks. Affiliates bring in no business. In short, affiliates are useless to the company. So why is BB so keen to bring in more and more affiliates, which only cost BB money, but add nothing to the company?

Originally Posted by Alkibone

Hi Michael

You may consider posing the question "Why do BB have affiliates?"

Yes, you bring up a major argument against the legitimacy of their business model. I did touch upon this in my original post, as does Finch in one of his, where he makes the point that if you need capital to start your business, you go to either a bank or a professional investment company; not hundreds of thousands of random individuals. Of course, we all know the real answer to that question.
There are so many holes in the story, it's hard to know where to start. I'm going to focus on the explanation by Terry Stern, because this is his attempt to counter the main criticisms of Banners Broker, and also because it has been cited to me by an affiliate that I know personally.
I'm reading through it now, and getting a bit of a headache as I go. Reading it gives me a similar feeling to the one I get when I have a weird dream, where I *know* I'm not stupid, but I can't seem to comprehend what's going on around me. Or maybe this is what it would feel like to read a technical manual whilst drunk or on drugs.

Michael

Originally Posted by caecilius

Hello everyone.

I've been reading this thread with much interest for quite some time now. As an introduction, I am the author of a blog post that has been referenced quite a few times on here over the last few days: Regarding Banners Broker | A blog.

I actually wrote that blog article for the benefit a few personal associates who have gotten themselves involved with Banners Broker. Originally I was just going to write an email or maybe a .doc file and send it out to them. Instead, I decided to just put it online, as it is more readily accessible and works better with all the links I've put in there. That's why there's absolutely nothing else on the blog - it was never really meant to be public! I knocked it out one evening and I didn't even send it out to anyone, so I was *very* surpirsed to wake up the next morning with a bunch of comments and ping-backs, and to find that it was being discussed here!

It seems that Finch must've discovered it first from a trackback to his blog, and then he put up the link on the Facebook group. I've got no problem at all with it being made public, however. I'm grateful for the positive feedback in fact. I'd like to mention that much of the inspiration came from information that I've come across on this very thread, so thanks guys!

Anyway, I'm considering writing a follow-up, because some of the affiliates that I've spoken to over the past few days have come back with counter-arguments about how the business model is different to how I have explained it. No surprises there, really, but I think I might be able to give the same treatment to any objections they have raised.

The overall purpose is to *help*. These are my friends and associates, and I don't wish to embarrass them or make them feel foolish. The whole idea was that once I had become certain in my conclusion about the true nature of Banners Broker, I would be remiss not to communicate this to them. Then, it is up to them to decide how they wish to proceed. I hope others can use it for the same purpose.

Regards,
Michael

Michael: Welcome to RS and look forward to keeping us informed with how the affiliates respond to your blog as you respond to their comments. It is always great to have multiple sites exposing BB for the Ponzi it is. Also thanks for your taking the time to educate the people visiting your blog.

Originally Posted by Unknown_S

haha.. oh god. You'll notice he also uploaded a Robert Kiyosaki video a couple of months back. Ask just about any of these hardcore suckers who jump from scam to scam if Rich Dad, Poor Dad is one of their favourite books, and they'll answer yes.

It shows that just about anyone can be susceptible to the scam bug, even people you'd imagine would know better. In fact, within the past few years some of the biggest MLM scammers out there have put much of their "earnings" towards Scientology... in search of Xenu no doubt. It's funny seeing scammers being sucked in by an even bigger scam. But anyway, that's a separate topic.

from diver to nose diver! How stupid are they making this man look, how stupid is he making himself look?

Originally Posted by geeeeeeez

fyi... Celebrity Gold Medalist Diver Peter Waterfield Joins Banner Broker - YouTube

They can't even get that right, Peter Waterfield is a silver medalist not gold.

Here is a good example of BB's recruiting technique - breaking into peoples homes and harassing them while they're on the toilet with no escape. Courtesy of Lindsay Ford, QLD

Originally Posted by geeeeeeez

fyi... Celebrity Gold Medalist Diver Peter Waterfield Joins Banner Broker - YouTube

Ummn,

forgive me, but I seem to be missing the point here.

The guy is a "diver" for goodness' sake.

He jumps off things into water.

He's not an investment advisor or an accountant or even a business guru.

Why would anyone be impressed whether Mr Waterfield does or doesn't believe Banners Broker is a HYIP ponzi fraud ??

Might be interesting if Pete figured it out and did a visible U-turn, or double pike

Originally Posted by littleroundman

Ummn,

forgive me, but I seem to be missing the point here.

The guy is a "diver" for goodness' sake.

He jumps off things into water.

He's not an investment advisor or an accountant or even a business guru.

Why would anyone be impressed whether Mr Waterfield does or doesn't believe Banners Broker is a HYIP ponzi fraud ??

To be fair, he's probably more credible than McCarthy's Irish "celebrity", who I believe handles his own account...