08/02/2011. GreenBackShares Review and Daily News from the Industry

BEWARE! THIS PROGRAM HAS STOPPED PAYING! PLEASE DO NOT INVEST!

Hi all! Before we get to tonight’s news updates I want to look at the third new HYI program that was added to MNO over the weekend, and in many ways I think I’ve been saving the best till last. It’s called GreenBackShares and it’s impressed me greatly, though I have to say it’s probably one for the more serious investors. After looking through it for the last couple of days and checking them out for myself I’m left thinking that the admin has a very clear intent to make this a huge hit over the coming months and has a vision and well planned strategy in place for achieving it. Well, that’s my first impression of them anyway.

Now, the first thing I need to make perfectly clear to you before we go any further is that GreenBackShares will NOT work if you are using Internet Explorer. Personally I was never a big fan of that browser anyway and haven’t used it in years, and the GreenBackShares admin seems to be in agreement. It’s simply not safe, is widely regarded as being unsafe by just about every independent expert including government appointed ones, and yet bizarrely and inexplicably most PC users continue to favor it anyway. So just to avoid any confusion, if you are using Internet Explorer and cannot access GreenBackShares don’t worry. There are many alternative web browsers available, all with a much higher standard of security. You simply need to switch to for example Mozilla Firefox, Google Chrome, Opera (my own favorite) or Safari if you’re a Mac user.

So, getting back to the program, GreenBackShares is a long term investment with a series of plans that all run for approximately seven months, though each has it’s own individual payment schedule. In comparison to a lot of other online investment programs it’s not cheap to join which is one reason I say it’s geared more towards the serious players. No doubt this will put the brakes on the program growing too fast in the early stages, but that’s no problem because it isn’t a bad thing at all when it comes to longer term HYIPs. Long term it will also make the program more stable as it begins to draw in more members as GreenBackShares establish themselves as a reputable name in the industry as we move from spring to early summer and beyond.

I’ll get to describing the individual investment plans in just a moment (there’s three of them) but they work more or less on the premise of buying shares. Not exactly unique in the industry but not exactly a widespread concept either. It doesn’t matter which plan you want to join as you will be required to “purchase shares” in it, whatever it may be. The price of one share is varies from plan to plan, but at the moment are priced at $50, $100, and $200 each. On joining you will first be required to deposit funds in your account balance. Then you will need to redirect the money from there and buy shares in your favorite plan. After you have joined your preferred plan you should then note that it doesn’t have an expiry date in the traditional sense. Yes, your principal will be returned, but only after you have been a member of GreenBackShares for a certain minimum period. Once that period has expired you may either choose to withdraw you principal and leave the program, or if you prefer just leave it in place and continue collecting your interest payments. The choice is yours entirely and depends on your own circumstances when the time comes.

The first plan is called The Daily Express. The plan runs for 150 business days (30 weeks) during which GreenBackShares will pay you a daily interest dividend on your investment five days (business days) per week, Monday to Friday. The minimum requirement to join is the purchase of one share priced at $50, and there is no maximum to the number of shares you may purchase. So in other words the minimum investment is $50 and you may then continue investing in “blocks” of $50, ie you can only spend $50, $100, $150, and so on.

The interest payments made to you in return will then depend on how many of these shares you have purchased. If for example you buy anything up to nine shares (invest anything up to $450) you will get paid 1% interest par day, five days per week. That adds up to 5% per week and 150% by the end of the cycle.

For purchases of between 10 shares ($500) and 99 shares ($4950) the daily rate goes up to 1.4% per business day. This allows you to collect a cumulative total of 7% per week and 210% by the end of the 150 business day lock in period.

And then for anyone purchasing 100 shares or more (ie investing $5,000 and upwards) GreenBackShares offer 1.8% interest per business day giving you 9% per week and 270% by the end.

How much you earn after that of course is entirely up to you. The initial 150 business days as I said already do not indicate the expiry of the plan. Not unless you want it to, anyway. It just means the end of the lock-in period for your principal. You are free to cash in your shares and take your principal back if you wish, or if you are happy with the performance of GreenBackShares up to this point leave it in place and continue to get paid.

That same principal applies to The Weekly Explorer, which is the name of the second plan, though there are some significant operational differences. For a start the share price is $100, meaning that from a minimum of that amount you can only continue in blocks of $100 each. If that’s OK with you then the minimum investment term runs for 30 weeks (after which you can leave or stay as you please). Interest payments will be made on a weekly basis this time, again based on the number of shares you own. Rates are as follows:
From $100 to $900 (1 to 9 shares) you will earn 5.5% interest per week, 165% in total.
For $1000 to $9,900 (10 to 99 shares) the rate is 7.5% per week, totaling at 225%.
And for anything larger than $10,000 (100 shares or more) the weekly payment is 9.5%, adding up to 285% by the end.

The third and most expensive plan, called The Fortnight Strategist, again runs for a minimum of 30 weeks. This time the price of one share is $200 and interest payments are made once every two weeks. At the end of the lock-in period you are again invited to either retrieve your principal and leave GreenBackShares, or allow them to hold it until such a time as you are ready to leave while you continue getting paid. Interest rates are as follows:
Anything from the minimum $200 up to $1800 (1 to 9 shares) will be paid 12% interest once every two weeks, allowing you to earn 180% in profits by the time you are allowed to leave.
If you purchase anything from 10 to 99 shares – that means spending between $2,000 and $19,800 – the rate is 16% every two weeks, which would bring in a total of 240% in profit at the end of the cycle.
And for anything larger than $20K (100 shares or more) the fortnightly rate is 20%, adding up to 300% before you can leave.

Payment options for GreenBackShares members are pretty good compared to the majority of online investment projects. The best feature here is indisputably the fact that they have a Business Verified account with AlertPay. That means that as well as regular AlertPay transactions you can also use credit and debit cards to join the program, as long as you’re going through AP of course. Another respected payment option is SolidTrustPay, whose verification process is if anything even more rigorous and convenient for those holding one of their Debit Cards. Otherwise you can use LibertyReserve, PerfectMoney, or, if you would rather avoid online payment processors completely, deposit via a direct Bank Wire transfer. Payments are automatic and instant, though the admin makes it clear that for security reasons (particularly with regard to LibertyReserve) this will be disabled if there is any danger to accounts and done manually if required. But it does all add up, I think you’ll agree, to making GreenBackShares a very unique and potentially massive hit among more than just fans of long term programs. They do seem to have a lot more mass appeal than just that limited audience.

Please note that all withdrawals are instant except for those to SolidTrustPay. At this point STP withdrawals are handled manually.

The website is running off a licensed script from GoldCoders, though it’s barely recognizable as such. It’s been highly customized to suit the program’s unique requirements. GreenBackShares is also fully SSL encrypted to protect the accounts and DDoS protection and hosting on a dedicated server is supplied by Dragonara making it a secure website overall. In addition to that there is the issue of web browser security which I described at the beginning, so Internet Explorer is not compatible here (a feature I honestly don’t believe I’ve ever seen in any other website before in any line of business).

Any questions relating to that or any other aspect of GreenBackShares you’d care to discuss can be sent to the admin through a pretty decent selection of communication channels. The main one for most of you I guess will be by filling out the support ticketing form on the contacts page and submitting it. There’s also a list of e-mail addresses you can write to directly, each one being related to a different subject. For a more personal touch you can try phoning them (their number’s located in Malta), or writing to their postal address (also in the same country, though I can’t personally vouch for that). They also have a Facebook page.

As well as not being able to validate their address, I also can’t vouch for their business model. However when it comes to online HYIPs the overall original concept of buying shares, trading news and original texts together with their displayed certificate of incorporation and regularly published trading bulletins all give the impression the admin of GreenBackShares is very serious about making his program a huge hit in the future. The only thing not original about them is the company logo (reminding one of a certain international chain of cafes) though even that looks more whimsical than anything. And despite being quite a new venture online just over two weeks already the admin has made huge improvements to the program, and I suspect a lot more to come.

The final verdict is that while I definitely like GreenBackShares, in absolutely no way would I encourage you to spend beyond your means with them. Decide for yourself if you like them too, and if so, stay within affordable spending limits at all times because there’s a calculated risk here just like any other opportunity. And of course always try to keep a diverse portfolio.

DAILY NEWS FROM THE INDUSTRY.

Let’s start the news with today’s update from GreenBackShares first. For those who were asking for more payment processors to be included your wish has been granted. The program is accepting SolidTrustPay and PerfectMoney now as well. I have just included this information in my review of the program after seeing this update published on the site of GreenBackShares:
“New payment processors implemented – Feb 9, 2011
Starting today, our members will be able to deposit and withdraw funds through PerfectMoney and SolidTrustPay.
We currently support 4 virtual payment systems: AlertPay, SolidTrustPay, Liberty Reserve and Perfect Money.
Please note that, while PerfectMoney withdrawals are instant, SolidTrustPay withdrawals cannot be automated at this time and they will be dispatched manually.”

As you may have seen earlier today an interview with the admin of MidasGoldFund has been published on MNO (read it here). I hope that it’s a good addition to the review which was published on MNO last week and which you can read here. I remind you that MidasGoldFund (reviewed here) accepts AlertPay, LibertyReserve and PerfectMoney and pays 1.7%-2.7% for 30 calendar days with principal returned on expiry. The admin Warren today issued a short newsletter announcing the recent interview on MNO and of the currently ongoing payment proof contest, the rules of which were described by him in the previous newsletter:
“MidasGoldFund Investors,
Paul at Money-News-Online has posted an interview with me, Warren Lincoln, on his blog. You can take a look at the full interview here: http://money-news-online.com/blog/2011/02/08/08022011-interview-with-the-admin-of-midasgoldfund/
Later this week we will also be releasing our first public press release updating everyone on the status of our company and the use of investor funds. Be on the lookout for that in your inbox.
Remember through this week we have our post payout proof contest that is taking place on the forums and on facebook. Take a look at it on our website here: https://midasgoldfund.com/index.php?a=news#3
Sincerely, Warren Lincoln
President. MidasGoldFund”.

Another program which is paying for 70 days already with no delays is UnicornInv (reviewed here). They offer two investment plans with no expiry date and the option to withdraw your principal after 180 business days. The daily plan pays 1% on every business day forever, while the weekly plan offers a slightly higher 6% weekly return. UnicornInv is accepting LibertyReserve, PerfectMoney and SolidTrustPay and though the first investors to profit won’t be seen for another a month or so, the stable and silent performance of the program inspires cautious confidence that the admin might be here for the long haul and is willing to make his program a big hit in the long run, rather than scam and run with the money. As you know UnicornInv is a regular sponsor of the MNO daily cash contest where you can win $5 to your LR every day by simply answering one question about the program posted on my forum (click here to participate). I will be able to publish the admin’s interview on MNO very soon so watch out for that. By the way, he also sent me some more questions for the MNO cash contest so that will run for at least 10 more days. Just register on the MNO forum for a chance of winning a $5 cash prize every day from UnicornInv in this thread!

EliteAlliance is another program I’ll be hoping to interview soon. There were several points in my review (read it here) which the admin Leon found questionable and I will be glad to discuss that in depth with him. I remind you that EliteAlliance is a program which claimed to be a Private investment club since 2002 and pays on expiry on four investment plans: 111% after 7 days, 125% after 14 days, 160% after 1 month, and 260% after 2 months. The program accepts AlertPay, LibertyReserve, PerfectMoney and SolidTrustPay payment processors and joining is only possible by invitation (you can sign up using this link). In the latest newsletter from EliteAlliance which can only be read in the news section of your member’s area there was another issue addressed regarding the accessibility of members to their private forum to discuss the program more openly. So far access to the forum was restricted to long-time members and best promoters but the admin is eager to hear members’ opinions on whether the private forum of EliteAlliance should be open to a wider audience. Further details on the upcoming poll will be posted in the next newsletter. Meanwhile, existing members of EliteAlliance are welcome to read the latest update below:
“Dear Members,
I am going to try and keep this Update as short as possible, as we have a lot of work these days! Just to let Everyone know… We had a long meeting today (Tuesday) with the top seven people in Elite Group. We spent several hours trying to come up with some strategies that will benefit our Members in both short and long terms.
There are so many questionable points regarding the further development of the Club. One of the major points of confusion we have discovered is the access to our Private Forum, which is currently restricted to Members with either more than 60 days of active membership or those with more than 50 active referrals. This rule needs to be changed and the reason is too many non-active members asking for access.
At first, we decided to simply allow new Members to join the “private community”, but such a move would have created more problems in the future – spammers, cheaters, etc. etc.
The “communis opinio” was that we should let the Members speak their mind. Thus, within the next three days we will set up an Open Poll module inside the Members area of EliteAlliance and every single Member will be able to express his/her opinion concerning the accessibility of the Forum via a simple “Voting Form”. More details will be provided later, please watch for updates.
I have one more thing to address and then I will be getting back to the pending Withdrawal Requests.
As some of you already know, EliteAlliance has been reviewed by MNO blog and though there were some questionable aspects in the Review which I personally will be disputing in the upcoming Interview, I would like to thank Paul from MNO for his sincere efforts to inform people out there what EliteAlliance is all about.
I will be attempting to keep you as informed as possible, so please periodically check the News&Updates section within your Member area for updates. And for now, I must get back to work.
With best regards, Leon Reiter
Elite Group Managing Director”.

Another newsletter from the admin of SilverDigger (his program was added to MNO monitoring just 10 days ago) was issued today. The admin, Thomas, updated investors about the successfully resolved issued with the Live Chat where you can get fast support and answers to your questions, promised to think about the addition of such popular payment processors like AlertPay and GlobalDigitalPay in the near future (currently SilverDigger works exclusively with LibertyReserve and PerfectMoney) and informed about some badmouthing campaign possibly about to start on forums and monitors soon due to the admin’s refusal to pay extortion money to a group of scammers. I myself feel that the voting features on monitoring sites are very often being abused by such scammers who either submit fake bad votes or are simply paid by an admin to submit fake good votes. Anyway, such voting systems on the majority of monitoring sites cannot be considered credible which is why I took the decision not to have a similar system on the MNO monitor and not to confuse the investors. Instead, it’s much more efficient in my opinion to provide me with some proof that you have problems with a program and I will act on that myself. As for SilverDigger, it offers two investment plans with no expiry date and the possibility to withdraw your principal anytime with a 30% fee – 2%-2.5% on business days, and 11%-14% weekly. For more information on them you can always refer to my detailed review published here. Here’s the newsletter:
“Hello everyone,
We are into our second week and things are going along smoothly with no major hiccups till now. There were some issues with the Live Chat initially but it has been fixed and working fine now. Currently we don’t have 24/7 live chat support – it is available only for business hours from 9AM to 5PM EST on weekdays. As our membership grows we will be extending the working hours to ensure 24×7 live support.
Many members have also contacted us and requested us to add Alertpay. So we are looking into this and planning to add few more payment processors including Alertpay and Global Digital Pay soon.
One unpleasant news was that we received few threat emails from some unknown group who threatened to post bad votes on monitors and forums if we didn’t pay them money. Of course we will not support such criminal activities. So, in case some of you come across such fake votes or posts, this is the reason. I will definitely keep an active eye on all the monitors and forums to ensure that such votes if any are removed immediately.
Regards. Thomas”.

It looks like today we have one more program that bit the dust after exactly 50 days online. I’m talking about AccessTomorrow which has been moved to Problem status on MNO monitoring today. They stopped payouts exactly when it came time to return part of the principal to the first investors who made deposits into 1.8% for 50 days plan. Such scamming tactics simply cannot remain unnoticed by me because it profits only the admin and not the investors. Judge for yourself – even if you joined AccessTomorrow on day one in any of their plans (1.8% for 50 days, 1.9% for 60 days, 2% for 70 days) you would barely break-even on any of them meaning the sole purpose of the program was to rob its members because it didn’t even last for one cycle. I cannot tolerate such an attitude and make sure that the readers of MNO are aware of other similar programs most probably run by the same administration in order to avoid of being scammed in the future. In my opinion, such programs as AccessTomorrow are directly responsible for destroying the industry.

So another program that I’m sure 100% is run by the admin of AccessTomorrow is IncomeLadder. Both programs not only pay together at the same time every day, they have absolutely the same hosting provider and hosting package, a design created by the same company, only LibertyReserve and PerfectMoney accepted and most significantly – they use the same customized script which is not used by any other program in the industry. Well, you might say that you’re already aware that many programs are run by the same admins and the collapse of one program doesn’t necessarily mean the collapse of another. Take EzProfit and GainBucks – the programs are obviously run by the same person but one of the programs is a selectively paying scam, while the other is paying perfectly well. However, by analyzing the patterns of the programs and spotting the tricks used by the admin we might outsmart him and be in profit or at least minimize our losses. Those who read my article regarding the sophisticated scamming tactics used by EzProfit (click here to read it) should know what I’m talking about. So in the case of IncomeLadder (taking into consideration it’s run by the same admin and I have no doubt about that) we can assume that the serial scam will continue here as well. And since the shortest possible plan pays 1.3% for 60 days we can assume that IncomeLadder will not survive two months online. Currently the program has been monitored by MNO for 23 days so we will see if my prediction is accurate within the next 5 weeks. I would not admit that suspicion about the two programs publicly if only the admin allowed some members of AccessTomorrow to be in profit. But if the admin prefers to play dirty I will do the same. He can prove me wrong by the way by running IncomeLadder for over two months which in my opinion won’t happen. So please take this information and use it as food for thought if you consider investing there. As for AccessTomorrow, it’s a scam already and I won’t bother mentioning it on my blog anymore.

The same goes for BentleyClub the admin of which expectedly never got back to me and obviously he doesn’t care that his program is listed now as Not Paying on MNO monitoring. I wonder if he didn’t put my monitoring logo on his site intentionally because MNO monitoring is pretty famous for its quick removal of programs to Problem status if they have some issues. I value my reputation as an honest monitor too much to display a program as Paying for days (if not weeks) as some others do. Please note that BentleyClub is a scam now and it’s been moved already to the category where it belongs!

InvestPlatforms (reviewed here) didn’t credit members accounts yesterday, the day they were supposed to be back to work after the Chinese new year. According to the admin it was unintentional and due to some technical glitch in the script. So payments for two days were credited to my account today and I have requested my withdrawal but was not paid yet. According to the terms and conditions the withdrawals in InvestPlatforms are to be paid within 24 hours of submitting the request. So I will update you on that tomorrow. I hope that everything will be alright and am posting the most recent update I found on the site of InvestPlatforms last night:
“Interest for 7th and 8th will be paid together at 2359 +7 GMT
Dear Investors,
Interest payment for 7th and 8th will be added to your accounts before 2359 +7 GMT.
Gold – 2.4%
Platinum – 3.4%
Interest payment for 9th will be paid out as per normal.
Sorry for the confusion as our Finance department had a database error on 7th but it has since been resolved.
Sincere Apologies, Sandy Lam”.

ECashBroker is not accessible to me today and I can see I’m not the only one. I will be moving the site to Waiting status on MNO tonight due to inaccessibility. From past experience with the program the ECashBroker website is very unstable and is frequently down, but it always returns and pays in full after a few days. Let’s hope it will be the same this time as well.

The following programs from my Premium and Standard listing paid me for the last 24 hours:
ForexTradingTeam, KlickWallet, CorpBayGroup, MidasGoldFund, Escaliva, Businex, ExtraIncome, FutureTrails, GorgonProjectInvest, OilCapital, ReProFinance, IncomeLadder, UnicornInv, FondosMayores, SilverDigger, GainBucks and GreenBackShares (the first instant payments received).

A new program that has been added to Premium listing on MNO tonight is FirstMonetaryFund. The program which is also known as FirstMoney (by the name of its website) started a month ago and has already achieved quite a degree of popularity. FirstMonetaryFund combines the best of both worlds and offers sustainable low-ROI profits combined with medium to longer term investments. Remember that in order to deposit in the program you will have to deposit via LibertyReserve or PerfectMoney into your account balance first and then redistribute the money in any of the four investment plans on offer: 1.1% for 15 business days (starting with only $1 minimum), 1.5% for 30 business days, or 1.8% for 60 business days (if you have at least $10 in your balance) and the most profitable 2.2% for 90 business days plan with a minimum starting from $50. All the accounts in FirstMonetaryFund are credited with daily profits at the same time every day and withdrawals are processed on the following business day. The website itself is pretty interesting by design and the script is very original as I’ve never seen it before. Sometimes it gets hard to navigate your account but to make it easier I will describe everything in the upcoming review. Other interesting features include the safe hosting on a dedicated server provided by Dragonara, SSL-encryption of the site, the ability to get some bonuses on your deposits and the participation in a VIP program with increased rates of interest and a more individual approach to your needs. At first glance though FirstMonetaryFund looks to me like a very interesting program aimed at those who are tired of faceless and unoriginal programs on GoldCoders and would like to try something really original.

That’s about all for today guys. Check out MNO tomorrow for more news and events from HYIP industry. So stay tuned and see you all then!