Quote from carcanaques:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=62221&perpage=6&pagenumber=66
ET member Reaver funded his forex trading account with monies earmarked for education under the GI bill and boasted about here. He thought he was being clever by twisting the regulations that govern the use of GI Bill funds.
Now that he has incriminated himself, the question is did he break the law? I am 100% against any type of larceny, especially if it involves the federal government and Reaver is presumed innocent until proven guilty.
I will learn more about the rules and regulations on GI Bill and speak with the appropriate officials regarding use of funds. I may also, depending on what I ascertain, refer this situation for an investigation.
I think Reaver is probably a decent 26 year old kid who is a bit misguided and used poor judgement. I really hope so for his sake.
haha ha
Okey doke, since you once again have put your foot in your mouth...allow me to show you the err of your ways:
This is the original post you quoted from me when you started the thread:
Actually, the GI Bill is $1200/mo and I signed up for online classes at a community college that my wife did for me, and I put the GI Bill income (which is an extra $900 or so a month after the tuition) into my trading account.
Pretty good idea to me.
Now if you would spend a moment or two actually reading this post and thinking it through, you would notice a few glaring errors in your accusation.
The first one is that in order to receive GI Bill money you have to be enrolled in college. It is paid out on a monthly basis, so long as you are enrolled. So, by definition I was legally enrolled in school. and it was approved by the VA.
Secondly, the VA pays out a certain amount each month, at the time it was about $1200/mo for up to 36 months. My tuition averaged out to about $300 a month.
So, are you with me so far carcanaqeus? I receive a monthly payout from the VA so long as I am enrolled in college. I am only spending about $300 of the $1200 each month. The rest is my money to spend as I see fit. That would equate to about $900 a month extra income. Not that much, but it's helpful when you're getting started up.
Thing is, the VA allows for the extra money for incidentals and things of the sort. Give them a call. See what they say.
Stop making a fool of yourself.
P.S. Did you know that we have to contribute our own money into the MGIB while we are active?
You are making yourself look like an idiot even more than you have already.
Thank you for this opportunity to show how stupid you are.
Carry on selling your Trading Zoo wares and leave the intellectual stuff for the adults. Thanks for coming out.