| By
Gary Scott
Here are some valuable scam comments
from readers and advisors. The first comes from advisor Larry Grossman.
Valuable Scam Comments #1:
"Gary, I have been reading with
great interest your ongoing information about scams. As you know, I probably see
on average at least 2 a week. One of the things that disturbs me even more, that
you have not mentioned yet, is that several times I have talked to people and
told them they were involved in a scam or a Ponzi scheme and they have had the
following response. 'I know I am in one, but I am in early and consequently am
getting paid and am likely to get a lot more then my money back.' Here is why
this bothers me. The person knows they are in a scam and want to do it anyway.
They know it is a Ponzi scheme, which means they know the only way they can be
paid is with someone else's money. This means they know somebody else is going
to get ripped off so they can be paid. We are talking about pure greed in its
highest, ugliest form. These people need to spend more time reading and understanding,
"Inspired Investing". And you know it does not matter if they call themselves
Christian, Jewish, Buddhist, Muslim, an enlightened one, to the best of my knowledge,
all world religions speak out against greed. Ultimately, these investors support
and encourage scams and themselves become thieves. Sorry if this is hard stuff,
but the truth often is. Regards, Larry"
Valuable Scam Comments reply.
"Larry, You could not be more
correct. Another point that people forget is that they may have some liability
doing this. In one Ponzi deal I observed a class action attorney sued the first
people in the scheme on behalf of the last people who were left holding the empty
bag saying exactly what you said. How would you like to get ripped off and then
sued for it as well!"
Valuable Scam Comments #2:
The next valuable scam comments
come from a very savvy investor I have known for many years.
"Gary: I'm enjoying the articles
on scams. Having been a victim myself some 25 years ago I would offer some comments.
One is that there are no legitimate returns of 10+% per month...NONE. People who
do invest must be prepared to lose their principal, so whatever rate of return
being promised is immaterial. Second, bear in mind that money needs to have more
respect...it's too hard to make and these kind of returns are disrespectful and
eventually very damaging. I would urge that anyone currently invested make every
effort to redeem their position and make it very high priority to do so! Remember:
Greed blurs one's vision!"
Valuable Scam Comments Reply
"I cannot agree more."
My friends, have good, carefully,
thoughtful, socially productive global businesses! Laws of the universe are firm.
For every action there is an opposite and equal reaction. If you make money at
someone else's expense it will come back to haunt someone!
Gary
My novel the 65th Octave looks
at scam protection issues. The hero is a scam catching expert who works for big
banks. The book outlines why scams work and why suckers always lose. I recommend
you read the book. It has some in depth economic information but is also a fast
paced, fun read.
Order the 65th Octave
at GaryScott.com
Sometimes one picture is worth
a thousand words
To avoid scams balance
yourself in nature like this cabin at Gary and Merri Scott's Merrily
Farm where you are welcome to visit and stay Little
Horse Creek. |
