Tuesday, November 23, 2010

Are You Kidding Me?

Are you kidding me? Where in the heck do these alleged 'advisors' find these poor people who fall for this line of bull? Once again, yours truly has been proven correct. Right in my local area, a lady allegedly sold Promissory Notes guaranteeing returns of between 15 and 20% for the last seven years. Are you stinking kidding me? What kind of person (in their wrong mind obviously) would give anyone a penny to invest in something like this? I will let you answer that question.

Remember when I said that Promissory Notes were nothing but Ponzi Schemes? Check the Archives of my Blog for my Do Not Buy List posting.

The Ponzi scheme that I am describing above was alleged to be as high as $100,000,000. Okay, let us ponder this for a moment. One hundred million dollars divided by an average investment of say $100,000. This means that there could have been as many as 1,000 people who invested in this alleged Ponzi scheme. A thousand people! Are you stinking kidding me?

Forgive me, but are there that many greedy people out there? I know. I know. Some of the people who fell for this were simply stupid, but the truth is that most of them were greedy and stupid. Yet, they will be the first in line yelling for their money back. Somehow, I do not feel much sympathy for them. It is not like they invested in the stock of a major corporation or a mutual fund. They should have known that this was too good to be true. Come on, man!

Do not try and tell me that these people were duped by this Ponzi scheme. Totally untrue! They were greedy and believed what they wanted to believe. You will never convince me otherwise.

Another clue for the clueless is when your 'advisor' suddenly owns two houses, expensive jewelry, a new art collection, exclusive pianos, high dollar automobiles and is taking extravagant vacations to exotic places. When you see changes such as these, it may mean that you and your money will soon be parting ways.

Remember, Promissory Notes = Ponzi scheme. Never forget it.