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Although it isnt stated directly in the terms and policies, you will find it to be a no-no with ypn and google. I've had 300 proxies, and still have 109. You will lose your account when your competition starts pressing the little feedback link on the ad. YPN makes it clear, no ads even on the main page. Once you've started doing it, it's only a matter of time they catch up with you.
Heres a clip from an email sent to me on the 16th of this month. I've left out the sites in question, but it was a proxy site, and there was some content, no broken links.
paste:
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As you are aware, the Yahoo! Publisher Network Beta Program Policies
require that your site be content based, fully functional and not
contain any broken links. Non-content pages include, but are not
limited to, domain registration pages, proxy sites, welcome pages,
error pages and web content generated in or through software
applications.
During a review, we found that one or more of your web pages were in
violation of this policy:
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G'luck, at least ypn gives kind warning. adsene takes your earned revenue and gives you the boot.
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