Get-rich-quick schemes are con jobs, period
Writer criticises those willing to lose their small investment, asking if they can afford losing this money, why then complain about high inflation.
By TK Chua
Get-rich-quick schemes should be described as they truly are – a scam to cheat while capitalising on the ignorance and greed of individuals, period. Please don’t add pepper and salt to make it more palatable or acceptable.
I have noticed that many “intelligent” writers are now describing these scams more favourably.
Some say the high inflation rate has caused many to invest in these schemes, and that the high returns have helped them make ends meet.
Some say they have only invested a small amount, so in the event of a loss, it is alright.
Some say the schemes really work, with many actually receiving high returns each month.
Some say the promoters of these schemes are nice and compassionate people. They are humble and do charity, contributing money to schools, temples and the less fortunate. They even refund the money early to “disabled” investors.
Some say the promoters are gentlemen. They have not run away despite not being able to pay back the returns to investors as promised.
Seriously, Malaysia did not become a global hub for scamming without a reason. I think we should stop talking more nonsense because unwittingly we are making more people susceptible to these scams.
Investing in get-rich-quick schemes can’t help us mitigate the adverse impact of inflation. Many are just getting back a portion of their own money each month. Many more may not even see their money again. We don’t manage inflation by taking reckless risks. That is stupidity.
We do not justify our actions by stating that we invest only a small amount and therefore can afford to lose this investment. This is akin to trying to rationalise our greed and foolishness. No one would want to be conned even if it is a small amount. By the way, if it is a small amount, why then does one complain about high inflation in the first place?
Please stop saying the schemes actually work. No, without exception, they don’t.
The schemes only work for the early birds so that word can be spread quickly to attract more investors. Trust me, the schemes will “encounter hitches”, “fail”, “be hacked” or “shut down” once they have reached their optimal size, again without exception.
Why can’t the schemers be nice and compassionate when they have conned us of millions of ringgit? If they have RM150 million in their bank accounts, I am sure they can give one million away to entice more people to their schemes.
Are we supposed to feel happy if the schemers have not disappeared or run away?
This is my fundamental question: have we got our money back? For sure we can’t get our money back if the schemers have run away. But can we get our money back if they are still around? What difference would this make?
For goodness sake, wise up! Get-rich-quick schemes are con jobs, period. We should say it clearly and unequivocally. There is no necessity to justify, soften or make these schemes more palatable.
TK Chua is an FMT reader.
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