Is This A Golden Age of Fraud?

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I appreciate you putting Grant Cardone as the thumbnail. Too many people worship this clown and have no idea what a shady grifter he is. Blows my mind.

My aunt was an MLM queen and then a cryptocurrency seller. And there came a point where I absolutely believe she got swept away in the easy money, which she cleaned using real estate that she then rented. She made good money, but the trail of destruction she left with people who bought into her pitch was sad. One guy, an elderly Latino man who couldn’t even speak English, invested $64,000 with her, his life savings, and was totally wiped out. He died, and my aunt just walked away while the guy’s daughter struggled to raise funds for his funeral. So sad.

I love the line, "he must have gotten tired of the passive income..."

I work with people who have unsolvable debts in the Netherlands . More and more young people end up having huge debts before they reach 30, because they trusted scammers. People often forget the 'most start up businesses fail 'part . Because most people who failed obviously don't feel like sharing out of fear being called a 'loser' , all attention goes to those who succeeded. This creates a false narrative. A lot of young people that are successful often have rich parents (or other financial backup) to try and fail a few times before succeeding . There's this social media induced illusion that everyone and their mother can start a business and become financially independent without too much problems.. This is when the scammers come in with sweet promises and no guarantees .

I had three spam calls from India before this video even finished.

You can’t apply to a job without exposing yourself to scammers now

Being raised honest is a major problem nowadays. Scammers are making fortunes and there's so many that they drive up prices for everyone. This is how economic systems fail. When people eventually don't believe in the system any longer, it falls apart fast.

Fun fact, if the govt or law enforcement doesn’t care that you were scammed, just turn them in for tax evasion instead of the original crime, and watch them suddenly give a crap

Ea Nasir, a Mesopotamian merchant, is famed for having the first written customer complaints against him, with stone tablets proclaiming that he sold bad copper nearly 4000 years ago. As shown by 16:40 he is clearly still with us, having committed fraud against death itself to remain among the living.

I work in retail fraud prevention. 2022 and 2023 have been off the charts across the industry.

Man this video was refreshing. To hear someone reputable actually lay out the reality of how much money is needed to make real ‘full time’ income from investing, as well as recognizing how hard small business actually is. I have a small business, and have worked ungodly hours, while being constantly gaslit by social media and self titled “entrepreneurs” to think that maybe I’m the moron because it’s not been easy, but as time has gone on, I’ve found these types to be frauds and grifters that blow away in a few years.

Fraud is definitely one of the top growth sectors, currently. I think it's due to the ease of executing scams with all the communications technology we now have, combined with laws that have not evolved to keep up. And, at least in the US, the "getting all the money you can" is deeply embedded into the culture. So much that I think most scammers genuinely think they aren't doing anything wrong.

One of my personal favorite "passive income" schemes is doing Drop Shipping. When I looked into it, the first words out of my mouth were "this is just being a Digital Avon rep!"

what has always amazed me is how people who have good judgement on day to day things like comparative shopping for groceries, will have a complete lack of critical thinking when it comes to big financial decisions. It is like their critical brain shuts down when something is too good to be true.

Long before there was an internet, my father told me that there's no way to generate wealth without excessive hard work. And that anyone promising a shortcut is scamming. It's a simple but parsimonious principle

"you have to sometimes do the stuff that doesn't work in order to find out what does". Worked many years in R&D, absolutely back this.

I feel like in my adult life (graduated in 2008) it’s felt like work is almost a scam, like all the things you’re “supposed” to do to have stability and prosperity were just a bill of goods, and I always kind of half assumed that people savvier than me were up to some hustle that was over my head. I never personally fell for any of these investment or passive income scams because I assumed that they required the sort of extroverted, go-getter, hustler personality that you also need for normal sales jobs and I just didn’t have. It’s only in the last few years that I’ve realized how much of that stuff was scams, and how much I was falling for it in an emotional way even if I never lost any money in it. But as the non-scam opportunities for success wither, I suppose this is what you get.

One of the most common things to hear someone say when purchasing a scratch-off lottery ticket is: "Give me a winner!" I look at them and ask, "Why would I knowingly give you a winning ticket rather than keep it for myself?" They then ignore me and start a cycle of buying a ticket, scratching the ticket, buying another ticket, scratching the ticket, etc. This goes on, winning and losing until they have dipped into their funds long enough for them to realize how close they are to having to skip meals or walk to work. I once told a woman, who was handing me a solid inch-thick stack of scan sheets, that if she quit playing the lottery, she could probably retire from her job. Lottery (and scammers) is a tax not on the poor, but on the credulous.

Running a small business is not easy, I took over my father's business in 2001, and I ran it for about 11 years. Running a small business requires a lot of time, at times you will be working 7 days a week 12 hours/day. You have to deal with all kinds of problems, like shoplifting, getting bad checks, taking losses for items that don't move, dealing with a economic downturn, paying fees to the city/state/federal government, etc.