Wednesday, July 6, 2011

The proverb “No News is Good News” does not apply to HYIP’s.

At this point in time Elite is covered in silence. With no new payment proofs coming in, no replies to support tickets and no updates in the back office it looks as if Elite Alliance is history.

Has this once promising HYIP followed the path of all ponzi schemes?

Seasoned HYIP players/gamblers call a program Scam as soon as it starts paying selectively.This is the case with Elite now. Payments were made to AlertPay and Solid Trust Pay members, while no payments went through via Liberty Reserve yet. This post on MNO blog gives a plausible reason for that.

Diehards, on the other hand, see those payments as proof for their faith in a program. I would say it’s grabbing straws to stay afloat as long as possible. Sure nobody wants to lose money, but when one is into HYIP, losses are part of the deal and have to be accepted.

Ok, so Leon Reiter denied being a HYIP in his interview with MNO.:
I would like to make it clear once and for all that we are not a “HYIP”.

Then why did he list Elite Alliance there in the first place?

By listing EA on MNO Leon contradicted his statement above himself and opened the way for being put on Problem and Scam status in case of payment discrepancies, which sure enough happened far sooner than expected. And instead of an immediate reaction to enquiries from the side of MNO, Leon Reiter ignored MNO (See this MNO blogpost), just as he ignores support requests from his investors, contradictory to his statement under Question 8 of the Interview:
Members can request support via Support Tickets feature within their members area.

Some people still claim that Leon Reiter is honest with his members. By the life of me I cannot see on what facts they base their claims except blind faith in printed and recorded words. None of them have ever seen or spoken to him personally. Most of these have never even tried to contact either Leon or Alex by phone. Yet, even when confronted with reverse facts, they’ll look for and find any excuse to deny them.
They remind me of the picture of the ostrich sticking its head into the sand when danger is imminent. (Not that ostriches do that, by the way.)

It seems to me Leon Reiter, General Manager of Elite, had these people in mind when he talked about “permanent and trusted members”, blind followers, who swallow every word of his as being true.

Conclusively let’s face the fact that it will be a miracle for Elite to reach its former glory, if they ever manage to make a comeback.

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