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Thread ID: 27965 2002-12-07 20:18:00 money for xmas johnboy (217) Press F1
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104067 2002-12-08 01:11:00 Firstly; I would like to say "Good on ya you Nigerians... Good to see someone having a go :D"

*nz_liam wishes that he could find a way to get people to throw money at him for ‘no good reason’ like the Nigerians can :D

Secondly; If you are actually stupid enough to participate in these scams then you deserve what you get….


Cheers

Liam
nz_liam (845)
104068 2002-12-08 01:32:00 And the interesting thing is that these scammers have made money out of it. Lots of money. There is an inexhaustible supply of greedy idiots. Graham L (2)
104069 2002-12-08 02:01:00 > And the interesting thing is that these scammers have
> made money out of it. Lots of money. There is
> an inexhaustible supply of greedy idiots.

Personally I think 'Lots' is an understatement :D

The Nigerian scam is hugely successful. According to a 1997 newspaper article:

"We have confirmed losses just in the United States of over $100 million in the last 15 months," said Special Agent James Caldwell, of the Secret Service financial crimes division. "And that's just the ones we know of. We figure a lot of people don't report them."

And as they say, "And that's just the ones we know of.", and only the ones in the US... Not to mention Asia, Europe and Australasia... Hell, I even know of a "local" idiot that got done by them...]:)


Cheers

Liam
nz_liam (845)
104070 2002-12-08 04:54:00 >There is an inexhaustible supply of greedy idiots .

It's tempting to generalize this way but I'd actually write it down to "an inexhaustible supply of greedy uneducated people" .

By this I don't mean those who dropped out of school in the 5th form as it can include University graduates who have never learnt the basics of money .

Where do people learn about money? Schools? Tech? Parents? Courses? Reading? Friends?

The school's don't - they'll train you to make money (ie get a job) but they certainly don't teach you how to hang on to the stuff once you get it .

There are a lot of people who happily avoid scams - but then invest unwisely eg - buying shares when shares are booming - then complaining furiously when the market drops off a short time later - or paying top dollar for an expensive house in a seller's market with the intention of selling it in a few months for vast capital gains .

Both of these types of investments work in cycles but people tend to see the upward trend only not the peak and fall back .

The real way to wealth is hang on to a percentage of what you earn, bank it then invest carefully .

If I wasn't busy reducing mortgages at the moment my pick would be the share market - a nice balanced index fund .
Heather P (163)
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