Hi,

Does anyone know anything about "Electronic Currency Exchanging" or "e-Currency Trading" and how it works. I have seen some sites that offer Training on this subject. Or is this a complete scam?

sam

Sam,

Post the links to the sites you're talking about and I'll be happy to take a look at it. But, in the meantime, if they're telling you that you can make a lot of money if you want to take a big risk, it's probably not a scam. On the other hand, if they're telling you that you can make a lot of money and take little or no risk, then -- of course -- it's a scam.

The risk-free rate of return right now is a little over 4%. Anything above that is going to require risk taking.

Larry

Larry,

Thank you for your quick response.
As a subscriber to your SMR I would not want to get sucked into a scam but it sounded interesting. Here is a list of Training Providers that I found just by googling:

http://www.mazu.com/online/currencyexchange.php
http://www.currencyexchangeprofits.net/

My question is simple. Why would they want to make money by providing training when they can gurantee profits like they claim?

Again and again I very much appreciate your insight.

Sam

Sam,

The first link makes the following comment on its home page...

"In reality, there are global currency exchanges available that will pay you in excess of 20% of your working capital in a short period of time (a week). You are simply making funds available to a global financial network through a number of recognized, reputable e-currencies, like IntGold or E-Gold.

If you find a good program, I would look for one that also incorporates a long-term investment vehicle that not only compounds but earns in excess of 5% of its total value per month. Yes, per month!

Why isn't everyone doing such a program? I have no idea."


Well, I have an idea. It ain't going to happen. Put this one in the "too good to be true" file.

The second one is even more bizarre...

"Easily Earn 2% to 4% Daily Profits!

This may just sound like marginal gains to you but remember we're talking about Daily Profits. You trade everyday and now you multiply that 2% to 4% by 365 and you could pull from 730% up to 1,460% per year!!

And that's with your initial investment of as little as $50. Reinvest your profits to compound your interest and this number could literally explode to over 5,000% annually. Are you beginning to feel the power of this system? And when you learn how quick and easy it is to get started you'll find it hard to sleep tonight."

For some reason, I don't think I'm going to have trouble sleeping tonight. If this guy knows how to earn 5,000% annually, why doesn't he just take, say, $50,000 of his own money (surely he has $50,000) and do it himself? After the first year he would have $2,550,000. After the second year, over $130,000,000.

So to answer you question -- "Why would they want to make money by providing training when they can gurantee profits like they claim?" The answer is that they can't make the money they claim so they try to make money off the get-rich-quick, get-something-for-nothing, fee lunch, tooth fairy crowd.

Sam, there may be a serious business there somewhere. If so, try to find someone who has written a serious article on the subject.

Larry