Skip to main content

A bizzare tale of a scam

The article started as a curiosity:

It is a bizarre tale of a bedding company, a megalomaniac businessman and a make-believe currency.

Then it headed towards a now familiar teritory

suspected of defrauding hundreds of thousands of investors of at least $1.4bn (£1bn) over the past eight years.

Well, this is not much when you have Bernie's big money and his glam clients hogging the limelight. More will come, no big surprise.

Article continues and what it says next totally rocks!

Those who paid at least ¥100,000 (£770) also received an equivalent sum in Enten - or Paradise Yen - a virtual currency Nami claimed would become legal tender in a post-recession era in which he would be "world famous".

I couldn't stop laughing at this. This guy had nerve, too bad that scheme failed.

Wait, isn't that exactly what US and Federal Reserve and Every other Central Bank in the world are claiming. When is their house of cards crumbling? When are they going to be hauled up? What happens to people holding their Paradiso?!

source
Labels:

Comments

Post a Comment

Popular posts from this blog

Cognitive rules of business presentations

In his recent book, Clear and to the Point, Kosslyn explained that the four rules of PowerPoint are: The Goldilocks Rule, The Rudolph Rule, The Rule of Four, and the Birds of a Feather Rule. Here's how they work. The Goldilocks Rule refers to presenting the "just right" amount of data. Never include more information than your audience needs in a visual image. As an example, Kosslyn showed two graphs of real estate prices over time. One included ten different numbers, one for each year. The other included two numbers: a peak price, and the current price. For the purposes of a presentation about today's prices relative to peak price, those numbers were the only ones necessary. The Rudolph Rule refers to simple ways you can make information stand out and guide your audience to important details -- the way Rudolph the reindeer's red nose stood out from the other reindeers' and led them. If you're presenting a piece of relevant data in a list, why not mak...
Post a Comment
Read more

Value of dollar - Part 1

A Simple Perspective Will Do The date is 2000-05-28. Don't you get tired of all the bad news bears reminding you of all these instabilities, excesses, and 'potential' tensions in the global economy? After all, hasn't it always been like that? Yes it has, but not in money it hasn't. Increasingly, investors find it harder to know where to put their savings. What about Government Bonds? Wrong. Their recent record of capital losses have wiped out your guaranteed yields, probably because the stock market keeps crowding them out, and this even in a strong dollar and low inflation environment. Furthermore, there is no reliable liquidity and potentially poor quality debt in the corporate sector. Foreign assets? Wrong. Most of the world's economies are riskier, have been under performing, and also, there is this thing called currency risk. Like how is the average person gonna cope with currency...
Post a Comment
Read more

Depreciation of British Pound 1900-2000

When the Bank of England was formed the powers to create money was finally transferred to private hands. The creation of Fed in US, was just a part of this cycle. Though it is a common knowledge US Dollar has depreciated nearly 100% since the creation of Federal Reserve, the same is the case of all the currencies across the globe. For example, below is the UK Parliament data that highlights the depreciating value of Pound.
2 comments
Read more