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    High Yield Investment Programs: Fact, or Fiction?
    High Yield Investment Programs: Fact, or Fiction?
    High Yield Investment Programs: Fact, or Fiction?
    Ebook58 pages1 hour

    High Yield Investment Programs: Fact, or Fiction?

    By Brian Igoe

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    About this ebook

    I originally became interested in so-called High Yield Investment Programs, HYIP’s, in 1998 when researching alternative sources of finance for investment in areas seen as a bad risk for geo-political reasons. I wrote a series of articles around that time for a finance magazine, in the hope of attracting criticism and comment – which I did! I have now put these together as a small book, and this is the result.
    At that time I was resident in Zimbabwe, but I have had to relocate, temporarily at least. However I was fortunate in that my job allowed me to function from almost anywhere. Now that I have retired, the same applies!
    This book does not claim to be a treatise on High Yield Investment Programmes. It does not even aver that such investment programmes exist. It is not a "First Steps in HYIP's", like "First Steps in French”. It is nothing more than a compendium of information which has come my way – I leave you to make your own mind up!

    LanguageEnglish
    PublisherBrian Igoe
    Release dateOct 23, 2012
    ISBN9781301628629
    High Yield Investment Programs: Fact, or Fiction?
    Author

    Brian Igoe

    You don’t need to know much about me because I never even considered writing BOOKS until I was in my sixties. I am a retired businessman and have written more business related documents than I care to remember, so the trick for me is to try and avoid writing like that in these books…. Relevant, I suppose, is that I am Irish by birth but left Ireland when I was 35 after ten years working in Waterford. We settled in Zimbabwe and stayed there until I retired, and that gave me loads of material for books which I will try and use sometime. So far I have only written one book on Africa, “The Road to Zimbabwe”, a light hearted look at the country’s history. And there’s also a small book about adventures flying light aircraft in Africa. And now I am starting on ancient Rome, the first book being about Julius Caesar, Marcus Cato, the Conquest of Gaul, (Caesar and Cato, the Road to Empire) and the Civil War. But for most of my books so far I have gone back to my roots and written about Irish history, trying to do so as a lively, living subject rather than a recitation of battles, wars and dates. My book on O’Connell, for example, looks more at his love affair with his lovely wife Mary, for it was a most successful marriage and he never really recovered from her death; and at the part he played in the British Great Reform Bill of 1832, which more than anyone he, an Irish icon, Out of Ireland, my book on Zimbabwe starts with a 13th century Chief fighting slavers and follows a 15th century Portuguese scribe from Lisbon to Harare, going on to travel with the Pioneer Column to Fort Salisbury, and to dine with me and Mugabe and Muzenda. And nearer our own day my Flying book tells of lesser known aspects of World War 2 in which my father was Senior Controller at RAF Biggin Hill, like the story of the break out of the Scharnhorst and Gneisau, or capturing three Focke Wulfs with a searchlight. And now for my latest effort I have gone back to my education (historical and legal, with a major Roman element) and that has involved going back in more ways than one, for the research included a great deal of reading, from Caesar to Plutarch and from Adrian Goldsworthy to Rob Goodman & Jimmy Soni.

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      Book preview

      High Yield Investment Programs - Brian Igoe

      High Yield Investment Programmes – Fact or Fiction?

      Brian Igoe

      Copyright © 2012 by Brian Igoe

      Smashwords Edition

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

      Contents

      INTRODUCTION

      CHAPTER 1. THE THEORY

      CHAPTER 2. CUTTING THE CAKE

      CHAPTER 3. BAKING THE CAKE - INGREDIENTS

      CHAPTER 4. BAKING THE CAKE - PROCEDURE

      CHAPTER 5. THE FEDERAL RESERVE SYSTEM AND THE BANK FOR INTERNATIONAL SETTLEMENTS.

      CHAPTER 6. SCAMS

      Introduction.

      I wrote this little book – well more of a booklet, really ‒ some years ago as a series of articles for a South African Economics Journal. I came across it recently and thought it might be of interest to readers today, but it has NOT been updated. It has simply been reformatted to comply with the publisher’s requirements for e-books.

      A note on spelling and grammar. I was educated in England and I have generally stuck to English usage so far as spelling and grammar is concerned, unless I am quoting from another source. For example the word programme occurs throughout this little book. I have generally spelt it as do the English and French (who invented the word!), but where I am quoting a US source, the final me has been dropped.

      I originally became interested in this subject in 1998 when researching alternative sources of finance for investment in South East Asia, seen as a bad risk for geo-political reasons.

      I have done a fair amount of research into the alleged mechanics of High Yield Investment Programmes, and I have taken reasonable steps to ensure that what I have written is a true record of what I have been told, and that my informants reasonably believed that what they were saying was true. Where time has allowed me to, I have verified the verifiable – the chapter on the Fed (The United States Federal Reserve), for example, is I think correct so far as the institution itself is concerned, but I have neither sought nor received confirmation from the Fed on the exchanges with the Fed which my informants have stated to be routine. The same applies to the BIS, the Bank for International Settlements. So I offer no warranties as to the accuracy of what I write or of the opinions expressed.

      This book does not claim to be a treatise on High Yield Investment Programmes. It does not even claim that such investment programmes exist. It is not a First Steps in HYIP's, like First Steps in French which used to be dinned into English schoolboys when I was one. It is nothing more than a compendium of opinions which I have collected. I offer no warranty, express or implied, on the accuracy of those opinions, but I do warrant that I have not invented them – although others may have! And that the people who have expressed them are, or appear to be, qualified professionals of some sort – there’s a lawyer, an accountant, a banker, and others. Think of this as a work of fiction. But, who knows, maybe there’s a grain of fact in it!

      Chapter 1. The theory.

      First, the theory.. .

      Let’s start with the cast, the Dramatis Personae. We have, according to my informants:

      (a) The United States Federal Reserve System, Or FED.

      (b) The Bank for International Settlements, or BIS.

      (c) The Trading Bank, always one of the top European banks, and allowed by the Fed to issue debt paper denominated in US dollars.

      (d) The Commitment Holder, or Provider, who buys the debt paper from the bank and then sells it, so making a market.

      (e) The Asset Manager, usually a company also involved in other forms of financial consultancy, but

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