Banners Brokers on Joe Duffy

keithclancy

Anyone listen to it ?

I've heard of this scheme over and over again with a different 'investment' method.

How it works is advertised on this guys facebook group:

http://www.facebook.com/groups/492127270816556/?fref=ts

The recurring theme of these schemes is doubles the money you put into it, i.e. 100% profit (minus various admin fees)

To me it looks like a Ponzi Scheme, i.e. the warning signs for all these schemes i've seen are:

• The method of generating is either vague or extremely complicated with a mystery factor.
  
• Double your money.
  
• You get half the contribution of a person you have introduced to the scheme.
  
• The only source of revenue the seem to be up front about is from the members themselves, the rest of the 'investment' strategy is wrapped up in terms that don't really mean anything
  
• They encourage people to sign up, but don't openly say it, (in Ireland this is the illegal part of a Pyramid scheme)

I.E.:

SIGNING UP REFERRALS

To increase your SALES CREDITS you need to sign up new referrals and also help your current referrals expand the number of panels they own and qualify.

The worst part is the guy on this facebook group says:

You don't need anyone referrals to be successful with BB, but if you do recommend anyone the company gives you sales credits.

Yet the link for signup he has in the group is:

http://www.bannersbroker.com/sug**bread

After seeing one of these schemes operating in Cork, people did indeed get money, but it was basically just other peoples money. When the subscriber base was saturated there was no more money left to keep the Pyramid going.

So while you get money, I would urge you not to encourage family members, friends or neighbours to join.

Invariably families and friends end up not talking to each other because someone got X amount of money and another person lost a shed load of cash which creates problems.

Basically with these things, once you've heard about it, its on the verge of falling apart anyway.

Ask yourself, why would this company borrow money from you with 100% Interest, when they can just go to a bank and borrow at 6-8 percent and keep the remainder for themselves.

Fromthetrees

It's a ponzi scheme.

Wacker The Attacker

disgrace joe

Bob the Seducer

Wacker The Attacker wrote: »

disgrace joe

There's a woman from Clontarf on line two...

joydivision

Yeah idiots . What I plan to do is buy a house . Double me money in 2 years. Remortgage them and buy another 2 . Its called the property ladder . Best pyriamid scheme of them all .

Wacker The Attacker

Bob the Seducer wrote: »

There's a woman from Clontarf on line two...

nipple clamps on line three

im invisible

No, its a trapezoid

tin79

joydivision wrote: »

Yeah idiots . What I plan to do is buy a house . Double me money in 2 years. Remortgage them and buy another 2 . Its called the property ladder . Best pyriamid scheme of them all .

This joke has been on every thread for four years. Any chance we could move on?

Lapin

joydivision wrote: »

Yeah idiots . What I plan to do is buy a house . Double me money in 2 years. Remortgage them and buy another 2 . Its called the property ladder . Best pyriamid scheme of them all .

Can you put me in touch with your bank manager !

joydivision

tin79 wrote: »

This joke has been on every thread for four years. Any chance we could move on?

absolutely not

joydivision

Lapin wrote: »

Can you put me in touch with your bank manager !

absolutely .

My name is URL

keithclancy wrote: »

The method of generating is either vague or extremely complicated with a mystery factor.

A boat's a boat.. but the mystery box could be anything. It could even be a boat!

mike65

Anyone remember that pyramid scheme that the stupid of Ireland went mad for about 8 years back?

lazygal

After all these years of get rich quick schemes I'm finally going to get rich. And quick!

mediumrare

seems legit.

TwoShedsJackson

tin79 wrote: »

Any chance we could move on?

Not if you're in negative equity!! BOOM BOOM!!

tin79

joydivision wrote: »

absolutely not

Ah go on.

tin79

TwoShedsJackson wrote: »

Not if you're in negative equity!! BOOM BOOM!!

I knew someone would make that joke. Just sorry it had to be you.