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Posts tagged Get Rich Quick
Cash Gifting Programs – Can You Say PYRAMID SCHEME?
Dec 4th
Cash Gifting Programs are the latest face of one of the oldest con games and schemes, the Pyramid Scheme. No matter how you dress them up, or how fancy the wording is, they are all the same and destined to fail. There is no magic formula, or secret method, it is mathematically impossible for any such scheme to work. For x number of people to make $10,000, y number of people must lose $10,000, it is just that simple. Whenever such a scheme finally collapses (which they all must do at some time) almost 90% of the people who have entered it simply lose whatever money they put in.
Don’t let the dollar signs and hype fool you. There is no unlimited pool of wealth out there just waiting to come your way. The number of people required to support the payout must increase exponentially. Perhaps the best way to show this is through a simple example, please keep in mind that the con artists who run these scams will do everything they can to try to convince you why this won’t happen with their club of course.
Let’s say Wealth-4-Life Gifting Club offers a $10,000 payout to each member when they reach the top level of their club, the entry cost is $1,000 but you are going to get back 10 times that, so what a windfall this is! So to pay out the first ‘winner’ only 10 people have to join up and gift their $1,000 and pay off the $10,000. Now, for each of these 2nd level entrants to get their $10,000 you need $100,000 so the club needs another 100 new entrants with their $1,000 entry fee. Now, to make sure all these new 100 entrants get their $10,000 you will need $1,000,000, so now you need to have another 1,000 new entrants come in with their $1,000 entry fee. Next, to make sure these 1,000 new entrants also get their $10,000 you need to come up with $10,000,000, now you need 10,000 new members. Next level, 100,000 new members needed, after that, 1,000,000 new members, 10,000,000 new members etc etc.. I think you can see where this is headed.
Just keep in mind that the job of the person running the club is to use whatever methods they can to convince you to join and to assure you that unlike other plans you WILL make money with theirs. They will use all manner of phoney charts, statistics, testimonials from ‘real’ winners etc. If something seems too good to be true, it usually is.
The Rich Jerk
Nov 20th
The Rich Jerk is another get rich quick scheme, promising you untold wealth. The author uses snobbery and insults to sell their ebook to you. Lines like ‘I’m Rich and You’re Not’ and ‘Are You One Of The Losers?’ They then proceed to tell you how they will share their knowledge so you can be rich like them. They have numerous testimonials and even show you sample income statements to prove their wealth and that their system works.
Of course, what it all boils down to is, they are selling you an ebook full of strategies and tips to make money online. I wouldn’t go as far as to call The Rich Jerk and outright scam, because their ebook does contain some valid information, but is also contains some information which is outdated, and some that is dangerous and could get your website banned if implemented.
The main problem I have with these sort of get rich quick schemes is that they offer false hopes. You are not going to get rich quick, while you can make money with many of the strategies offered, all of them take time and money. If you want to see a preview of exactly what kind of information is offered in The Rich Jerk’s ebook just check out this link from wikipreviews: The Rich Jerk Book Preview
If you’d rather find out for yourself, feel free to visit The Rich Jerk Website
The Underdog Wealth System
Nov 20th
The Underdog Wealth System is one of the many gambling system based money making systems around. As with others of this type, they rely on a Martingale gambling system where in it’s simplest form, the gambler is guaranteed of winning based on the strategy that if they keep doubling their losses on a simple bet, sooner or later they will win. For example, with roulette, the system will tell you that if you bet either red or black consistently, sooner or later you will just keep winning. Unfortunately, in real life, these systems can never work. Casinos have betting limits in place just to prevent this sort of system from working, and its a good thing for you that they do. You could lose a ton of money if allowed to double your lost bets for any significant number of times, since the amount of each successive bet goes up exponentially. At a $100 roulette table, you would need $12,400 just to cover 7 lost bets in a row, for 8 bets $24,800, for 9 bets $49,600 and so on, doubling with each successive loss. For a good explanation of why this system won’t work, just visit the following link Martingale Betting System Explained
The only people making any money with these sort of systems are the places like this one who get commissions from the casinos by drawing in customers for them by getting them to download their free software and sign up for an account.