Financial Scams
People have a great amount of concern for money, and finding means to get money quickly becomes almost a necessity. It is this need for quick income and also no work that leads folks to be drawn in to great, at times historical financial scams. However, you can always use historical bonds which is the finest example.
You see, back ‘in the day’, there were quite a few gold bonds released for a multitude of motives. A way for the government to obtain money with the promise to return it with interest. These kinds of bonds were payable in gold, and after a certain maturity time could be cashed in. The problem is that after a particular date they became useless. Nothing more in comparison with a piece of history waiting to be preserved in a museum.
It is these relics or mock-ups of them that are sold to you by the conartists. Usually with quite official looking documentation and also after you’ve been roamed from bank to bank, you find out that it is in fact worth nothing at all except possibly several sentimental collector’s value. This may in fact prove to be a genuine bond and luckily you get compensated with a little cash by the museum where these are reserved. This is truly a great demo of one of the historical financial scams.
Another great example is the Viactuals Frauds. The pretense is that you get someone’s life insurance policy, doing small investments. When they die you get the full death benefit from said policy. You also walk away pleased knowing that your investments made a sick person’s life a bit better… right? Well just like any child in school there are people out there who will fake sickness for the attention and the money. Your capital can simply be pocketed and also you’re left all the poorer. Then of course there are scammers that will take your investments to buy their own wants and luxuries rather than using it on the policy you wanted.
Plus the earth goes round. The best way to avoid these historical financial scams is to stay away from any offer that looks too good to be true unless you have the help of a real attorney or somebody who really knows what they are talking about. Scam artists are mostly experts at their trade, thereforewill not usually be found out.
Writer is a quantitative researcher with specialization in derivative pricing, quantitative risk analysis and trading strategies – he kindly invites you to visit his blog – Quant finance for the latest development of financial engineering industry.
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