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Author Topic: You cant blame pirate if you shut down after.  (Read 1473 times)
Monster Tent
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September 11, 2012, 04:02:32 AM
 #1

If people are blaming pirate for their "bank" shutting down why did they continue to pay interest after he defaulted ?

Why are they only closing now and stating their money was in pirate when they have still been paying interest out?

Im going to go out on a limb here and say they have been paying out of new deposits from people who withdrew from pirate to find "safer" funds.

Blaming pirate for your shutdown only makes sense if you shutdown when he did not weeks later. If people sent deposits after pirate defaulted the odds are that it was used to pay out old depositors the interest due at least untill it all collapsed with the latest liquidity crunch.


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zyk
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September 11, 2012, 10:26:58 AM
 #2

If people are blaming pirate for their "bank" shutting down why did they continue to pay interest after he defaulted ?

Why are they only closing now and stating their money was in pirate when they have still been paying interest out?

Im going to go out on a limb here and say they have been paying out of new deposits from people who withdrew from pirate to find "safer" funds.

Blaming pirate for your shutdown only makes sense if you shutdown when he did not weeks later. If people sent deposits after pirate defaulted the odds are that it was used to pay out old depositors the interest due at least untill it all collapsed with the latest liquidity crunch.

Yes of course all PPT´s can blame pirate, that their own ponzi´s on top of his ponzi is now seen as what it was and what they are : SCAM´s !!!

and the interest collected accountingwise after BCST default and the real interest looted before for the perpetrator and the oldest accounts, stems from ripping off

the latecomers !  Stop obfuscating please and throw your efforts behind locating pirate and his accounting information..........!

Beware - there are powerfull people in this forum, who have no interest in this !

Cheers Zyk
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September 16, 2012, 01:06:01 PM
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ZYK rallying against scammers.  Haha!   Roll Eyes

Kinda gives the impression that your honest ehhh?
salty
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October 09, 2012, 01:08:23 PM
 #4

If people are blaming pirate for their "bank" shutting down why did they continue to pay interest after he defaulted ?

Why are they only closing now and stating their money was in pirate when they have still been paying interest out?

Im going to go out on a limb here and say they have been paying out of new deposits from people who withdrew from pirate to find "safer" funds.

Blaming pirate for your shutdown only makes sense if you shutdown when he did not weeks later. If people sent deposits after pirate defaulted the odds are that it was used to pay out old depositors the interest due at least untill it all collapsed with the latest liquidity crunch.




Although I agree there may well be some opportunistic defaults going on, the mess created by pirate's closing will have had a trickle down effect that takes time to play out.

For example what if lender A is exposed to pirate, has loan repayments coming in, and enough in reserve to pay obligations for a month. He's going to keep paying interest while he can because he doesn't want to default and maybe he's of the opinion that pirate will still pay out, so he doesn't announce problems until his reserves are nearly wiped out.

Lender B on the other hand had no exposure to pirate, but he had a big deposit with lender A. So he wouldn't even know he was affected until lender A announced his problems, and tries to manage things until another week later when he realises his reserves aren't being topped up by loan repayment C anymore, who HAS decided to use pirate as a convenient excuse to stop paying out.

Once you add in lenders D, E, F, and loan repayers G, H, I, J, K etc. some of whom may well be scamming and saying they were exposed to pirate etc. then it becomes obvious it's not just a case of 'Pirate stopped paying today so I do too.'
mining4fun11
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January 01, 2013, 11:29:09 AM
 #5

Did anyone ever catch up with pirate?
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