I would have thought that Nigerians were the only fraudsters/scammers in the world but who knew scammers are everywhere even better or more sophisticated than Nigerians?
I was working in the bowels of the Wells Fargo mortgage chop shop in 2012, packaging mortgages in default to sell to Fanny and Freddie at $100 cents on the dollar. Most of those loans never should have been allowed. The bank got super rich selling those loans, when the economy blew up in 2008, the Fed and Treasury made them whole, then they made more money selling the foreclosures. The only scam in the history of the world that was greater was/is Covid.
I suspect we are entering a period of increased scams at every level. from poor Nigerians and Indonesians to International banks, as the global rules order continues to unravel. When the global credit system collapsed in 2008, many of us online said if we don't hold those who organized this scam accountable the next bubble will be much bigger. They spent ten+ trillion floating the banks etc in 2009-2014. They spent $10trillion to float the banks etc in less than two years 2019-2021. The greatest transfer of wealth up the social pyramid in history. The next one will probably kill the dollar and institute CBDC.
so true. tbh am expecting more scams to cover the roll out of CBDCs and technocratic AI systems. supposedly "for our own good" or whatever bollocks the MSM (e.g BBC Verify) spins up
Great post, Ope! In my brief foray into online dating (more browsing than dating), I started with Plenty of Fish based on a friend's experience. Because of the low barrier to entry, it had been taken over by scammers. I complimented one guy on the kitten in his photo and he responded, "Yes, as the Bible says, the way to me is through kitty!" I clarified that I was allergic to cats and he said "Just kidding, kitty is dead!" That was when I did some research and found that was the leading source of online fraud and yes, came mostly from Nigeria.
However I've wanted to do a post making your point that legal scams are far more profitable and prevalent. Everywhere you turn, someone's trying to get your money. But in the other cases, they have the police and gov't backing them up and ousting you from your house to take it over.
In the YT I made yesterday, I refer to things that have been going wrong for my daughters. I didn't specify that for my middle daughter, it included having her purse stolen with her phone and credit cards, which has included accessing her iCloud and going through her photos, numerous scams, etc. They are professionals. When I put it on Substack today, I'll link to your article.
And I'll do a future episode on how my caret system makes fraud impossible, both legal and illegal, local and international.
And at least Nigerian hustle culture (I think I first heard that on an Anthony Bourdain episode, a fallen hero) has given us Afro-Beats with the online scams! Sam and Elizabeth just gave us bad hair and fake positivity, respectively.
Thank you Tereza for the detailed comment. I agree the hustle culture is largely good but my issue is that its used as a cover to commit nefarious acts. I don't see why we cannot hustle in a legitimate way. On a sad note about Afro beats, the version that is popular is watered down and promotes degeneracy. Afro beats coined by its pioneer, Fela Kuti used his music to speak and enlighten folks on social/political and cultural issues but that is no longer the case. With regards to the scam, I think what makes the Nigerian scamming seem prevalent is because its illegal, off the books and low class if not it would be protected and have govt protection.
I look forward to watching your YT video later today.
Oh I would never say the hustle culture is good. I don't know if you know Anthony Bourdain, a chef who made very politically astute shows in forgotten corners of the world. I think his knowledge of what was happening in the world is why he suicided. I think he talked about Fela Kuti, if I remember correctly. He's one of the people I dedicate my book to.
Anyway, that need to find a half-dozen ways to make money just to survive is the opposite of the system I propose. Like you say, there should be positive, wholesome, constructive, tonic ways to live a secure and happy life. And thanks for the tonic shout-out, which I mention in the Substack version I'm still working on!
Sorry, I must have misunderstood your earlier point. We are in agreement. The aim is to demonstrate and the imbibe the "tonic" life you propose and live an exemplary life of service.
I was working in the bowels of the Wells Fargo mortgage chop shop in 2012, packaging mortgages in default to sell to Fanny and Freddie at $100 cents on the dollar. Most of those loans never should have been allowed. The bank got super rich selling those loans, when the economy blew up in 2008, the Fed and Treasury made them whole, then they made more money selling the foreclosures. The only scam in the history of the world that was greater was/is Covid.
http://offthegridmpls.blogspot.com/2012/12/fired.html
100% agree! the greatest scam the devil ever pulled was/is Covid!
I suspect we are entering a period of increased scams at every level. from poor Nigerians and Indonesians to International banks, as the global rules order continues to unravel. When the global credit system collapsed in 2008, many of us online said if we don't hold those who organized this scam accountable the next bubble will be much bigger. They spent ten+ trillion floating the banks etc in 2009-2014. They spent $10trillion to float the banks etc in less than two years 2019-2021. The greatest transfer of wealth up the social pyramid in history. The next one will probably kill the dollar and institute CBDC.
so true. tbh am expecting more scams to cover the roll out of CBDCs and technocratic AI systems. supposedly "for our own good" or whatever bollocks the MSM (e.g BBC Verify) spins up
Great post, Ope! In my brief foray into online dating (more browsing than dating), I started with Plenty of Fish based on a friend's experience. Because of the low barrier to entry, it had been taken over by scammers. I complimented one guy on the kitten in his photo and he responded, "Yes, as the Bible says, the way to me is through kitty!" I clarified that I was allergic to cats and he said "Just kidding, kitty is dead!" That was when I did some research and found that was the leading source of online fraud and yes, came mostly from Nigeria.
However I've wanted to do a post making your point that legal scams are far more profitable and prevalent. Everywhere you turn, someone's trying to get your money. But in the other cases, they have the police and gov't backing them up and ousting you from your house to take it over.
In the YT I made yesterday, I refer to things that have been going wrong for my daughters. I didn't specify that for my middle daughter, it included having her purse stolen with her phone and credit cards, which has included accessing her iCloud and going through her photos, numerous scams, etc. They are professionals. When I put it on Substack today, I'll link to your article.
And I'll do a future episode on how my caret system makes fraud impossible, both legal and illegal, local and international.
And at least Nigerian hustle culture (I think I first heard that on an Anthony Bourdain episode, a fallen hero) has given us Afro-Beats with the online scams! Sam and Elizabeth just gave us bad hair and fake positivity, respectively.
Thank you Tereza for the detailed comment. I agree the hustle culture is largely good but my issue is that its used as a cover to commit nefarious acts. I don't see why we cannot hustle in a legitimate way. On a sad note about Afro beats, the version that is popular is watered down and promotes degeneracy. Afro beats coined by its pioneer, Fela Kuti used his music to speak and enlighten folks on social/political and cultural issues but that is no longer the case. With regards to the scam, I think what makes the Nigerian scamming seem prevalent is because its illegal, off the books and low class if not it would be protected and have govt protection.
I look forward to watching your YT video later today.
Oh I would never say the hustle culture is good. I don't know if you know Anthony Bourdain, a chef who made very politically astute shows in forgotten corners of the world. I think his knowledge of what was happening in the world is why he suicided. I think he talked about Fela Kuti, if I remember correctly. He's one of the people I dedicate my book to.
Anyway, that need to find a half-dozen ways to make money just to survive is the opposite of the system I propose. Like you say, there should be positive, wholesome, constructive, tonic ways to live a secure and happy life. And thanks for the tonic shout-out, which I mention in the Substack version I'm still working on!
Sorry, I must have misunderstood your earlier point. We are in agreement. The aim is to demonstrate and the imbibe the "tonic" life you propose and live an exemplary life of service.