danielmeyers
July 18th, 2005, 06:54 PM
My opinion, your opinion, and indeed even the facts surrounding that question do not much matter (more below).
So what does matter? A court verdict.
There will be no definitive answer to this question until someone sues YMMSS. Once that happens, the lawyers will go crazy on both sides, presenting facts and calling in witnesses. Both sides do have some credible arguments, and both sides will be able to call some credible witnesses. And then, in the end, a verdict will be handed down, and the decision will have been made. After that, YMMSS either will be or will not be declared a ponzi scheme.
My own personal predicition is that such a case would end up finding YMMSS to be a ponzi scheme, but really we have all seen cases of "the wrong side winning the law suit" simply due to choice of lawyers or other nonsense.
I did say that the facts do not matter. And I will concede that this is not quite true - of course they matter, but again, I will submit that either important facts can be buried or dismissed in law suits, or the suit can be so confusing to the lawyers and judge that rendering a verdict be made quite difficult. Again, I think there are more than enough cases that demonstrate that not all the facts get brought to light in a given case, and people will lie on the witness stand.
Disclaimer: all of the above is very US-centric. But, it doesn't matter if YMMSS is based in Belize for the purposes of a law suit. US entities can sue non-US entities when the defendant is doing business with US citizens (see page 4 of this document: http://www.zsrlaw.com/publications/articles/PLAIN%20TALK.pdf ). Being based in Belize only protects Kim from US corporate taxation.
So what does matter? A court verdict.
There will be no definitive answer to this question until someone sues YMMSS. Once that happens, the lawyers will go crazy on both sides, presenting facts and calling in witnesses. Both sides do have some credible arguments, and both sides will be able to call some credible witnesses. And then, in the end, a verdict will be handed down, and the decision will have been made. After that, YMMSS either will be or will not be declared a ponzi scheme.
My own personal predicition is that such a case would end up finding YMMSS to be a ponzi scheme, but really we have all seen cases of "the wrong side winning the law suit" simply due to choice of lawyers or other nonsense.
I did say that the facts do not matter. And I will concede that this is not quite true - of course they matter, but again, I will submit that either important facts can be buried or dismissed in law suits, or the suit can be so confusing to the lawyers and judge that rendering a verdict be made quite difficult. Again, I think there are more than enough cases that demonstrate that not all the facts get brought to light in a given case, and people will lie on the witness stand.
Disclaimer: all of the above is very US-centric. But, it doesn't matter if YMMSS is based in Belize for the purposes of a law suit. US entities can sue non-US entities when the defendant is doing business with US citizens (see page 4 of this document: http://www.zsrlaw.com/publications/articles/PLAIN%20TALK.pdf ). Being based in Belize only protects Kim from US corporate taxation.