MatrixWatch
December 29th, 2004, 06:30 PM
I came across this article (http://www.thenettle.com/doublers/truth.html) entitled, "The Truth About Doublers" and I think that it is a solid analysis of this new phenomena. The author, David Congreave, also posts regular updates at this blog site (http://www.thenettle.com/blog/index.html).
We began tracking these sorts of schemes back in 2003, starting with the "matrix sites". We waged an effective campaign informing the public and suing the pants off any companies associated with them. The campaign was so successful that the matrix sites virtually vanished in the United States and then moved to other countries (and we have since launched new movements there as well to warn those potential victims).
Here in the U.S., the matrix scheme basically mutated into what we know today as Doublers, HYIPs, and Randomizers. Although the names are new, the concept is the same.
This process of micro-evolution has been happening for a long time, and although the names are different the underlying concept is the same-- early investors are paid off by new ones until the scheme becomes so large that it collapses and can no longer pay off their "customers".
This article on doubler schemes traces the process back to the days of Charles Ponzi, the infamous swindler who we name the process after. Although there are differences between pyramids and ponzis, the overall process is the same. The writer of this article has done a good job at making that clear.
These schemes are not all they are cracked up to be, and when these schemes start falling apart and reinventing their names over the next year, those who are still around will see exactly what we are talking about.
I think that it would be great if the author of this article would become a member here and run the 'doubler' forum. If anyone comes into contact with him, please have him contact me (watchdog@matrixwatch.org).
We began tracking these sorts of schemes back in 2003, starting with the "matrix sites". We waged an effective campaign informing the public and suing the pants off any companies associated with them. The campaign was so successful that the matrix sites virtually vanished in the United States and then moved to other countries (and we have since launched new movements there as well to warn those potential victims).
Here in the U.S., the matrix scheme basically mutated into what we know today as Doublers, HYIPs, and Randomizers. Although the names are new, the concept is the same.
This process of micro-evolution has been happening for a long time, and although the names are different the underlying concept is the same-- early investors are paid off by new ones until the scheme becomes so large that it collapses and can no longer pay off their "customers".
This article on doubler schemes traces the process back to the days of Charles Ponzi, the infamous swindler who we name the process after. Although there are differences between pyramids and ponzis, the overall process is the same. The writer of this article has done a good job at making that clear.
These schemes are not all they are cracked up to be, and when these schemes start falling apart and reinventing their names over the next year, those who are still around will see exactly what we are talking about.
I think that it would be great if the author of this article would become a member here and run the 'doubler' forum. If anyone comes into contact with him, please have him contact me (watchdog@matrixwatch.org).