Anyone else Noticing a Steady Increase in Scams and Ponzi Investments Being Marketed?

TerrifiedBargainer on 14/04/2021 - 22:08

I'm seeing a steady increase in marketing activities by people selling ponzi schemes and other dubious investment products. This to me seems like we have reached the top and it will be about to explode.

I remember investing in ponzi schemes as a child and back then I had over 5 years investing in various HYIPs. It was one of those things you did, you sold your runescape gold for e-gold and later liberty reserve and then you invested it in ponzi schemes because frankly you couldn't figure out how to cash out, or you spent it on paying someone for an adult website password. Back then if you were under 18 you could open an e-gold account and everything was good because they never checked; until one day the US government closed the site down and well the rest is history; you were told to make a claim for the funds but how would you do that if you were underaged?

Nevertheless, the history of ponzi schemes and HYIPs as we called always show this peak before the crash. You can always time the exit out of a ponzi scheme. It's usually when they start marketing to the masses that you know the game is up. That's why I believe currently we are going to experience some massive ponzi scheme blow ups soon. I'm seeing a lot more aggressive marketing techniques from pyramid/ponzi scheme operators. I guess we could also include cryptocurrencies in this space too if you want to stretch your imagination.

So what does a Ponzi scheme look like?

I've got an example more recently called Banners Broker. Take a look at how everything is glossed up and how the product is made to look beautiful when the underlying product is basically useless or trash.
https://www.youtube.com/watch?v=hNNbfnCgeSg
I remember their website was really slick but it's now gone, but I'm sure a lot of people here would remember how it worked. The site at its time was really futuristic and they might have had some minor links to advertising, but the underlying product never really existed in any meaningful manner. I never got around to reading their case but I think you get the story.

Another famous one was 12dailypro. I'm not sure if people remember this one, but it got big slowly and it wasn't until it was being advertised all over the web in many forums did it start to basically cease to pay and ultimately it blew up because you couldn't find someone to zero-sum the investments. The music stops.

Ultimately, you may not derive any utility from this post as it may not be written for you.

Financial

Comments

  • Muzeeb on 14/04/2021 - 22:20
    +4

    Ok

    • trongy on 15/04/2021 - 07:50

      The major red flag here is the contents of this rambling post do not match the subject line.

      It seem to be a veiled attempt to get people to click on youtube link, presumably to game the youtube algorithm. I'm definitely not clicking that link.

    • DashCam AKA Rolts on 15/04/2021 - 08:35

      TLDR.

  • [Deactivated] on 14/04/2021 - 22:25
    +8

    You mean like rubbish homes that people are falling over themselves to overbid for on the same day they first view it?

  • lunchbox99 on 14/04/2021 - 22:37

    I'm offering newcomers a once-in-a-lifetime opportunity to buy into my Ponzi-Prevention System at the introductory price of $99.99

    • UrMumsOnlyFan on 14/04/2021 - 23:31

      Discounts for referrals?

      • lunchbox99 on 15/04/2021 - 06:10
        +3

        Congratulations, you are now the district manager of the PPS for your area. Send $1000 to receive your official certificate and commemorative pin.

  • SF3 on 14/04/2021 - 22:48
    +1

    Ultimately, you may not derive any utility from this post as it may not be written for you.

    Is this a new type of chain mail?

  • orangetrain on 14/04/2021 - 23:10

    My brain is smooth, how do I send you my savings?

  • [Deactivated] on 15/04/2021 - 00:13

    Well, with low interest rates it's bound to happen.

  • Cave Fire on 15/04/2021 - 00:42
    +1

    I read about this when looking up the depression in the 1920's. Because people were desperate, they were willing to scam others. On the other hand, the marks were desperate for something to help them out of a bad financial situation. The things that solved it were taskforces to catch scammers and the economy improving. Another symptom is hyperinflation of asset prices, which I noticed as well.

  • Windows7forever on 15/04/2021 - 03:50

    The victims are generally dumb people with too much money.

  • Cheaplikethebird on 15/04/2021 - 10:03

    It's just on trend with the general public right now after the recent bitcoin boom and the GameStop saga.

    I got an FB ad the other day for a 'social & environmental impact tech startup'. They're just reeling in suckers with buzzwords now.

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