Investments, gullibility and trust

If you have some savings to invest I urge you to first read this fascinating column about a Ponzi scheme in the Philippines.  If you already have invested some savings, including a pension fund, I urge to read the column and evaluate your position.

The column is about he nature of gullibility and trust and what the author calls the inflation of trust.  It is what allows Ponzi schemes to suck in their victims.

The reason I encourage you to read it is that I think it describes the psychology behind the operation of the larger investment industry.  Through the years there have been financial collapses in  which lots of people have lost lots of money.  Regardless of what the financial salesmen might promise there is a high probability it will happen again.  This explains why and how.

 

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