What are we doing to stop pyramid schemes scammers

lostexpectation

SO I read in the times the someone operating a branch of the pyramid scheme in Cork calledthe gardai because she said she was harrassed and falsly imprisoned and forced to go an ATM and withdraw money by a group of 30 angry fellow citizens.

Boo ****ING Hoo (not that shes shouldnt get some level of protection for her life and limbs)

Then me day tells me my sisters husbands workamte put in and got money out. I got so annoyed just to hear about him screwing hid friends and family,friends and famiies he must be proud!

What are people (apart from gardai ) actively doing there to stop the schemes?

I don't want to hear it serves them right. Im talking public education publicity, free financial advice, public orgs working against such schemes. Union activity against such schemes?

http://www.askaboutmoney.com/showthread.php?t=19114&page=12

Sand

TBH, pyramid schemes are illegal and primary level maths is already provided for all citizens. Theres not much more the government can do to rescue people from stupidity.

dahamsta

Sounds like someone with a similar affliction...

gilroyb

What can be done for a person who thinks that money can come from nowhere? If they consider it at all they know they are screwing people, they just hope the people they are screwing are far enough away from them.

Every investment has risk, the risk here is that your family and friends will hate you.

zuma

Well in Bantry, certain "businesses" have been vandalised and certain "business owners" have been physically assaulted...i.e. fist connecting to face!

Its only a matter of time before theres civil war in west cork.

Ive known about this crap for months....and listening to a silly twat of a woman on Gerry Ryan days ago really pissed me off due to her complete ignorance and stupidoty.
She viewed it as a legitimate business....that she worked hard at the collect her "payment"!!

A certain business owner is actually having a nervous breakdown over it all as word of mouth from her victims wont be a good thing after all this goes to hell!

lostexpectation

how about Credit Unions actively warning against the schemes?

http://www.askaboutmoney.com/showpost.php?p=156074&postcount=84

BrianD

Remember the 'Wmen empowering women' scheme a few years ago? I jnew somebody who was considering investing and no amount of explaining could get through to her and even when it did begin to dawn she thought she would chance it and hopefully not be the base of the scheme. I had to laugh when you hear the 'last people in' going on Joe Duffy and threatening legal action as if they are helpless victims and the wool was pulled over their eyes all along.

The law needs to tightened and I think public examples should be made.

Zardor

Well,

Those 'small' pyramid schemes, the ones in the pub, and in the housing estates and schools, are indeed illegal.

But it is only the small scale ones. The really bigger ones are indeed fully legal, and in fact are the basis for our modern western economy.

If you have a private pension scheme, the value of that scheme is dependent on you and others continuing to invest in it for the next 50 years.
The investment fund managers have already made (and continue to make, at ~1% a year) their cut, and will be the ones to get out first when the thing crashes.

If you have a public pension scheme, the future payout of that is dependent on continuing employment levels, and tax take from those still working when you retire.
The politications have already taken your contributions, and used them to buy back your and everybody elses votes with your own money, and probably your future prosperity.

Say you have taken out a mortgage >300,000 euros for a house, with an intrinsic value of whatever a few hunderd square meters of dirt, a pile of bricks and perhaps 1 man-years labour to put it together.
The future value of that is dependent on SOMEONE ELSE being willing to pay even more than it's intrinsicly worth.
Plus, you, and wveryone else who is mortaged to the hilt, will HAVE TO CONTINUE to pay down FUTURE earnings to the mortgage, or else too many people loose their houses to the banks, the supply increases, the demand dries up and the whole thing collapses.
The builders and landowners have already taken the money and run with it. And you will be paying for it for the next 25 years.
When TSHTF, and the world runs out of money, (or to be more accurate, runs out of available DEBT) do you really think that something like a house, with about a years worth of labour in it, will be worth more than a year's salary?

If you are the USA, spending much more than you are earning, the only way you can pay your costs is to keep printing money and hope that other people and nations will keep 'buying' it off you - Effectivly China is 'buying' little pieces of paper called 'dollars' in return for real goods and services, which people have worked creating.

Theres only one way out - ride the value up, but don't be the last guy holding the can....have a read of this....

http://www.rousselle.com/allan/archives/000415.html

Zardor.....

jd

BrianD wrote:

Remember the 'Wmen empowering women' scheme a few years ago? I jnew somebody who was considering investing and no amount of explaining could get through to her and even when it did begin to dawn she thought she would chance it and hopefully not be the base of the scheme. I had to laugh ................

I remember that scheme..I had to laugh, though, when I heard that a group of female employees of "Business and Finance" magazine were members...(and got burnt)

Mucco

Surely pyramid schemes are a form of Darwinism?

zuma

Mucco wrote:

Surely pyramid schemes are a form of Darwinism?

The sly take advantage of the gullible.....you are CORRECT!

axer

lostexpectation wrote:

SO I read in the times the someone operating a branch of the pyramid scheme in Cork calledthe gardai because she said she was harrassed and falsly imprisoned and forced to go an ATM and withdraw money by a group of 30 angry fellow citizens.

Boo ****ING Hoo (not that shes shouldnt get some level of protection for her life and limbs)

Then me day tells me my sisters husbands workamte put in and got money out. I got so annoyed just to hear about him screwing hid friends and family,friends and famiies he must be proud!

What are people (apart from gardai ) actively doing there to stop the schemes?

I don't want to hear it serves them right. Im talking public education publicity, free financial advice, public orgs working against such schemes. Union activity against such schemes?

http://www.askaboutmoney.com/showthread.php?t=19114&page=12

Why spend money educating IDIOTS! I would rather see money spent on people who have a brain. Like Sand said most Irish citizens have already being educated enough to see through pyramid schemes by the time they leave primary school!

BrianD

I see that local hotels have now stopped letting out function rooms to the pyramid schemers. Funny how a bit of media attention makes them find their morals. Was it the bad publicity or are they worried about their licence renewals?

ballooba

zuma wrote:

The sly take advantage of the gullible.....you are CORRECT!

I was going to mention Natural Selection before I read the whole thread. It's so true though.

ilovemybrick

ah joe duffy. hes the lemming leading the other lemmings off a cliff.
and pyramid schemes are just hilarious. ask about my trapezoid plan its much more effective.:)

dahamsta

ilovemybrick wrote:

ah joe duffy. hes the lemming leading the other lemmings off a cliff.

Popular misconception. Sorry.

bonkey

lostexpectation wrote:

Boo ****ING Hoo (not that shes shouldnt get some level of protection for her life and limbs)

So what exactly are you saying? That you agree that she is deserving of the protection of the law, but you have no sympathy that she didn't get it?

What are people (apart from gardai ) actively doing there to stop the schemes?

Well, for most people, I'd imagine what they're doing is not supporting the schemes. After that, they would seem to have two choices :

1) Leave it to the gardai (who you excluded from the question) as such schemes are illegal
2) Take the law into their own hands

It seems that you seem to be hinting at a level of support for the second option, whilst still acknowledging that the person in Cork was entitled to the protection of the law against people doing just that.

jc

lostexpectation

option 1.5

ballooba

They should neuter anyone involved in the whole sorry affair.

rubadub

lostexpectation wrote:

Im talking public education publicity,

There is a purple dinosaur on the TV that gives excellent financial advice, even has a little song
2 plus 2 is 4, 2 plus 2 is 4.

You could also go down to the chemist and by a bottle of cop-the-fuk-on, 2 spoonfulls daily.