LL’s New “Banking” Policy Should Be Amended to Include Stock Exchanges, Etc.

You are thinking Stocks from a narrow perspective

I'm thinking of them from a broad perspective.

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from a narrow perspective you are right, of course.

from a broad one, I believe I am.

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Investment money is given, a return is made on that money. All the same.

Were not looking through the same sized lens.


This is what I meant when I said Eben was caught up in the details.

It has nothing to do with declaimers or prospectus, which i got dotted, which t crossed.



I have a feeling LL will come at it from a broad perspective as well. We will see.

I'm torn.

1) Fools will get burned. Warn them & let them learn the hard way.

2) Scammers shouldn't be rewarded for exploiting the gullible.

3) Legit money managers shouldn't be punished just because they're vastly outnumbered by fools and scammers.

As far as I'm concerned though, you can call the various kinds of 'money management' that happens within SL whatever you like. It is all, still, effectively 'gambling' unless that form of money management is subject to the laws and regulations of its real world counterpart.

I wonder if we should ban all sales inless the seller has a real world Lic to sell.
In most countrys its breaking the law to sell with out a Lic. and we should make sure everyone has to pay taxes on all monies earned because it also breaks the law if you DONT pay those taxes.

It's not technically real until "real" money changes hands.

Technically, people are only buying and selling L$. What goes on inside SL is mostly unimportant to RL government taxing agencies and laws... unless there are laws that *specificially* address the buying/selling of proprietary 'points/credits/chips/funny-money'. Like, for example, "Online Gambling".


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IANA(tax)L

For the land ninjas, I hope you're wrong, Colette.

Given your sig line, I'm assuming that's your bulge in your cute cheek is your tongue.

Given your sig line, I'm assuming that the bulge in your cute cheek is your tongue.

As I have said before, no matter what you call it, a bank, a stock exchange, and investment club, a fund or whatever; you are giving your money to someone you do NOT know and has no legal obligation to honor any promises they make. Read that again, you are giving your money to someone you do NOT know and has no legal obligation to honor any promises they make.

After all the issues with, so-called, banks in SL you would think people have learned a lesson, but I guess the downfall of human intelligence has transfered to SL from RL.

Anyone that want to give their money to someone and get nothing in return except promises, send me the money and I will guarantee, in writing that you won't get it back and will get no return on investment.

I agree. Any financial institution which would be regulated and overseen in the real world should be banned from SL unless they are a real world, government regulated firm. I got burned by one stock exchange running with my money, two CEOs on the WSE who ran off with the funds and left me with WTF (aptly named) and one bank (Ginko) which was supported for a long time by the WSE (If you look back, you'll notice that the owner of the WSE was managing director of many of the Ginko guy's firms on the WSE). Nothing can be verified and in many cases it is all a scam and probably illegal.

Ban them or amend the new banking/interest policy to include them in that ban. BUT, as some others have said, be sure to allow two or three months before the ban takes effect to let them pay everyone back. Let’s not give these "exchanges" a way to scape goat and run off with everyone's money.

Lindal not realy hehe
I figger I'll help LL kill off the econ here and help Open Sims get thiers going
LL seems to always do what ya shouldnt.. so I'm just giving them a little support hehe

I think they will be just as fair and considerate of all the stated financial complexities that they have been of previously stated gambling complexities.

Poker anyone?

Oh thats right ... Opps

So, are you going to tell us how to rip any script in SL or not? I've got various contributors who've offered over L$100,000 for this.

Which begs the question: Why did you trust them to begin with?

well as I said before it wasnt inside sl..but I didnt something more cinstructive with it.. made a patch for the open sims and left the hole here

Lot of people never wanted to use WSE they were forced too when they made mistake of trusting Ginko.

"them" included Ginko.

They may have had the best of intentions, but it still seemed like a lot of undesireable and unsecured risk.

Being a member in good standing with the SEC and NASD, as a stockbroker and Municipal Tax Free Bond Specialist, I can say that having stock exchange in sl bad ju ju.

Well, they weren't really forced to - in that the bonds were pretty much worthless as soon as they were created, and the only way to get any value out of them was to sell them off to anybody foolish enough to buy them as quickly as possible.

The idea that they were called "WTF"... that was really quite astoundingly blatant, the chutzpah behind that is quite breathtaking.

What? not every RL broker thinks SL stocks are a good idea?

Say it isn't so.

lol.

Clean out your inbox, Colette!

Another in world stock exchange shut down shop and ran with all the in world deposits in the exchange. Two CEOs of the second largest exchange just ran off with raised IPO funds. People are starting them up left and right now and doing the same schemes as many of the old banks did. Most are run by kids or high school dropouts who have no idea of what they are doing or they are scams/ponzi schemes waiting to run with the funds. They are probably illegal anyway.

I agree, Ban them now.