Here's an interesting article on Ponzi schemes which should be renmed Madoff schemes after Bernie Madoff who was recently sentenced to 150 years.
The last week or so I followed the so called “Ponzi” debacle with amusement and with the lack of sympathy. Why doesn’t it surprise me that after all these years that people still fall for the same trick over and over again. It show that man’s stupidity and commonsense really show when greed comes into the equation. What is more amusing is that this time it is the so called “leaders” of industry that suffer this time. The scheme crossed the borders as far as Europe.
You would think that with years of experience, they will spot a “too good to be true” offer.
How many pyramid schemes have we been through in South Africa in the last few years? Fidentia, Masterbond and now this one. The latest the biggest of all. When will people learn that when someone offer you a return on investment bigger than the average investment, you run like hell. The scheme will only work as long as “fools” keep investing money. How on earth is the person going to make 30-40% return on your investment in just a few short weeks? Rob a bank? How many ordinary people still suffer due to Masterbond and Fidentia? Greed and desperation makes us blind and dull our commonsense. There is no quick way of making money honestly. Forget all these websites that promise heaven and earth how you can make millions in just a year. Concentrate on what you have and not on what you would like to have. Less is more!
Sunday, August 30, 2009
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