Showing posts with label greed. Show all posts
Showing posts with label greed. Show all posts

Friday, 5 May 2017

Opinion: Trumpcare is Trump cares nothing about you

A son’s promise
I remember my mother. She was 52 years old when she died of ovarian cancer, and you know what she was thinking about in the last months of her life? She wasn't thinking about getting well. She wasn't thinking about coming to terms with her own mortality. She had been diagnosed just as she was transitioning between jobs. And she wasn't sure whether insurance was going to cover the medical expenses because they might consider this a pre-existing condition. I remember just being heartbroken, seeing her struggle through the paperwork and the medical bills and the insurance forms. So, I have seen what it's like when somebody you love is suffering because of a broken health care system. And it's wrong. It's not who we are as a people.” Barack Obama [Wikipedia]
The quote above was the personal life story that inspired what we all know as Obamacare, the heartfelt promise of a son to anyone whose mother, relation or themselves might be faced with the onslaught of illness that they do not have to worry about the bills and forms.
This is the human story
Just imagine, faced with a life-threatening illness and all you can think about is whether you have enough to meet the payments to keep you alive. “She wasn't thinking about getting well. She wasn't thinking about coming to terms with her own mortality.” Yes, Stanley Ann Dunham was struck down with cancer and she was dead within a year of the diagnosis.
When she died in 1995 just 23 days short of her 53rd birthday, Barack Obama had not even begun his political career, he was only married 3 years and she never got to see her grandchildren, they came much later. In what might well be the conspiracy of fate, his grandmother died just two days short of the historic election victory of 2008.
The decline in my health
However, let us leave politics aside and touch on the human stories. By the time, I had finished my contract in April 2009, which was the peak of my career in earnings along with the attendant signs that my health was beginning to deteriorate, I paid no particular heed to the danger ahead.
In the third week of June, I had guests visiting from London and Hong Kong; on Sunday, the 23rd of June, we went to Kinderdijk to see the World Heritage Site of windmills and on our way back, literally, all strength ebbed out of me as we walked from Rotterdam Harbour to the station. When my guests who stayed for a week left on Tuesday morning, I went back to bed and woke up with blisters down my left arm, I had come down with shingles.
That did not stop me travelling to Berlin the next day for the CSD celebrations, but by the time I was ready to return five days later, I was too weak to handle my own luggage, the airline check-in clerk had to come round to place my luggage on the scales, I was taken by wheelchair to the lounge and then by airside vehicle to the plane.
In Amsterdam, staff were on hand to assist me and ensure I just about crawled into my home, exhausted to the point of expiry. Alarm bells were ringing, but I could not hear them. The shingles disappeared within two weeks.
The salvation of insurance
Within 3 months of that, I was admitted to hospital with full-blown AIDS, a culture of self-medication, blind stoicism, religion and just soldiering on had brought me to the very gates of death. Meanwhile, I was earning nothing and chomping through my savings completely oblivious of the entitlements I had earned over almost a decade of working in the Netherlands, what was I to do?
In 2006, the Netherlands introduced compulsory health insurance, a sort of mandated single-payer requirement that was generally affordable. I had the basic cover, but when I fell ill, that basic cover went the whole way to pay for everything needed to get me well again.
As part of my treatment, there was an 18-night stay in the hospital, full-board, 7 sessions of chemotherapy, each chemotherapy dose at today’s prices is 8,735 euros, my pills were about 2,500 euros a month for the first 6 months and insurance took care of everything.
Everyone for the few
That is the mystery of insurance – “a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.”
The idea is that not everyone would need to resort to it, but if the need comes, it is there to bear the burden. Without it, I would have died in 2009. That I have taken out of the health insurance pool more than I have put into it is just a matter of providence and regulatory processes put in by the government that everyone has equal assess to treatment at the point of need rather than with a bag of means.
Everyone who owns a car pays car insurance, not everyone would have an accident, buildings all have insurance, not every building burns down or collapses. The many in caters for the few mishaps. No one balks at the car or building insurance and health insurance is such an unthinkable thing? Really?
It is about a shared humanity, not socialism
There are different implementations of health insurance in the West, but America fares the worst in the provision of such. Some see the idea of health insurance as provided in Europe as the pinnacle of socialism, industry and profits must thrive in the provision of health and healthcare without the dead hand of government directing it and therein is the animosity against Obamacare from the conservatives.
The brother’s keeper concept has been lost, the heart of understanding human privation has been lost to ideology and politics. The politicians themselves are fully catered for health-wise, it is the people who have been seduced by the rhetoric that would suffer, people who would never have the deep pockets to meet the costs if illness strikes.
You can be down, but never out.
Unlike Stanley Ann Dunham, I did not have to worry about any insurance costs, I kept up with my affordable insurance premiums and soon learnt many months after of my social security entitlements that could cover most of my bills. However, that was not before I had suffered other privations pertaining to sustenance. I was back to work just under 7 months after my diagnosis.
Health insurance saved me and that is one of the great successes of the European social model that is under threat of being ripped apart in the UK with the way our NHS is being badly run by the Conservative government.
When I was down, insurance and welfare held the fort until I was able to get back up on my feet. If I all I could do was face bills and fill in forms without the space to think either about getting well or prepare for my eventual demise, a ‘luxury’ never afforded Stanley Ann Dunham, I probably would not be here writing this.
This is evil and greed at work
The desire to repeal and replace Obamacare is manifestly evil, it is borne of rabid ideological extremism to feather the bulging nest eggs of the already stupendously filthy rich whose greed for more wealth at the expense of a more equal humanity can never be sated.
It has not been costed, it has not been risk-assessed, it has not been studied, it has just been voted through to claim a legislative victory without a single care for those who would be most affected. [BBC News]
To quote a headline “The GOP's health care bill is officially a gigantic tax cut for the rich. (USNews)” This is was President Donald Trump is heralding, there is much else to say apart from that fact that the human story of affordable healthcare has been lost to the Shylocks of the 21st Century, they don’t just want a pound of flesh, they want your heart whilst it still beats cooked for breakfast and if you’re still breathing, your brains for dinner.
Trumpcare is Trump cares nothing about you.


Friday, 21 September 2007

Old-fashioned Ponzi Schemes as HYIPs

Making Mo-Sense about money

I have to give credit to Roosevelt at MoThanSkin who has enlightened me on a matter that has quite fascinated me.

I have lately been reading of so-called High Yield Investment Plans (HYIP) in Nigeria where in one instance a bread-winner took her life with rat poison having been swindled out of her entire savings.

The draw of these “Get Rich Quick” schemes that promise outrageous returns not obtainable in any legal business setting is amazing; the person has to suspend belief in financial reality to be involved; though many participants proselytised into these schemes never realise how they are being conned until they have been completely fleeced.

Persuading the greedy

Generally, a person is persuaded to invest a sum for a guaranteed return well above the odds, sometimes 200%, the wary investor tests the waters with a token amount and gets paid in the allotted time.

This emboldens the investor to jump in with both feet, if not borrowing to invest, at which point the investment goes into a black hole and the agency either has tales to tell or the personnel just disappear into thin air.

No shelter for the fool

Considering these schemes do not have regulatory control of financial agencies or customer protection, the need to beware is evident as customers can also be profiled for their greed and gullibility see how much more they can be enticed to part with their money as fools.

The play on words that redefines an old scam as a new financial instrument is interesting, but like I read on MoThanSkin, these are all variations on Ponzi Schemes. At various times know as Pyramid Scheme, Multi-Level Marketing and now the more professionally sounding High Yield Investment Program, Global Currency Arbitrage or Hedge Futures Trading.

They are all like snake-oil remedies that have the bite of a snake and are lethal enough to cause fatalities, both financially and literally.

Playing on trust

The scheme are generally unsustainable over time, relying on new entrants to feed the promised returns of the earlier entrants; eventually, new entrants run out leaving everyone out of pocket apart from the promoters who would have gone to ground and disappeared.

Whilst I am not saying people should not invest in these schemes much as the risk of loss is too compelling to do otherwise, sometimes like the gambler in Kenny Roger’s Gambler, those who have made it have known when to walk away and been intuitive enough to know when to run.

However, if the investor is entranced by initial returns, they should reflect on the standard small print on any financial investment document – past performance is no guarantee of future success, even if it is your very next investment.

Looking out for a scam

These are elaborate confidence tricks that earn your trust and confidence to then scam, defraud and dispossess the victim.

Like Roosevelt notes from culling the Wikipedia entry that I have also quoted below; the characteristics of Ponzi Schemes are simple.

* In a Ponzi scheme, the schemer acts as a “hub” for the victims, interacting with all of them directly. In a pyramid scheme, those who recruit additional participants benefit directly (in fact, failure to recruit typically means no investment return).

* A Ponzi scheme claims to rely on some esoteric investment approach, insider connections, etc., and often attracts well-to-do investors; pyramid schemes explicitly claim that new money will be the source of payout for the initial investments.

* A pyramid scheme is bound to collapse a lot faster, simply because of the demand for exponential increases in participants to sustain it. By contrast, Ponzi schemes can survive simply by getting most participants to "reinvest" their money, with a relatively small number of new participants.

Get out now!

Someone somewhere is in one of these schemes who has gained some return from a business model that has no underlying fundamentals and is ready to sell the world to get similar returns but would come completely short and lose everything like the gambler that has gone “all in” against a Royal Flush with just a high card.

Any scheme like this is a sinking ship and you had better bale out or jump like a rat before you go down into a watery grave of the many that belong to the fraternity with the motto – A fool and his money are so soon parted.

Reference

Pyramid Schemes Never Die; Just Evolve

Friday, 15 September 2006

Certifying gullibility in Nigeria

Great opportunities in Nigeria

Somehow, I have always had a sixth sense about when a scam is in the offing. This goes back long way when I was a service technician in the eighties with an IT services firm in Nigeria which had very good initiation ideas but got run down by the happy-go-luck lifestyle of the owners. Quite sad.

I owe a lot in my career to the foothold IT Systems Limited gave me into IT and other interesting things I when on to do with high volume desktop publishing with Deji Sasegbon & Co Publishers who published the Nigerian Supreme Court Cases in 30-something volumes then using PCs and Xerox Ventura Publisher which put us well beyond the work Gani Fawehinmi was doing with older publishing methods.

Almost dazzled with red mercury

So, this interesting day, we got a call that from an office in a Lagos suburb of Ketu to help them fix computers. Hardly had I gotten there, another man arrived trying to get us interested in some deal that involved red mercury and turning black pieces of paper into wet 10 Naira notes.

Red mercury has always been the stuff of unbelievable myths, enough to engage and where you lose your guard you are done.

Somehow, he had 4 million of those notes that he had to pick up from the airport and he needed financial assistance to acquire more red mercury to process the notes, I was to raise 10,000 Naira and would eventually end up with 4 million Naira.

Now, would sound incredible to anyone, but I just knew within me that nobody makes money that easily except in a lottery, the danger was that once the deal was completed, there was so much at stake that rather than flying with the mile-high club, one would steady six feet under with the inheritors being the partners in the crime.

I walked away and thankfully, I had left no details about myself with them, now, in Europe, I would have been off to the police, in Nigeria, it was best to pretend nothing had happened live your life in peace.

Same crime different medium

So, when I started getting emails pertaining to the Advanced Fee Fraud419 scams, it did not take too much to realise this was variation on my earlier experience.

Unfortunately, many are too wide-eyed with gullibility to some extent, greed in others and plain foolish having suspended reason for fantasy, they get their fingers burnt and are fleeced of the pennies and pounds they have saved up all their lives.

Nigeria now has an anti-graft agency called the EFCC, this somehow strikes fear into those who cannot account for how that have come into so much wealth. Sometimes, it is as if everyone is a Cinderella with a fairy god mother who waves the wand and the next day you are rolling in money like it is going out of fashion.

There are many who are getting hounded justly to account in much more detail about the provenance of their wealth, some have even fled the country to avoid being apprehended, but the interesting part to it is how many of the old hands on the oil tiller are getting implicated by these investigations.

An instrument for bias?

Despite all this, the agency is susceptible to accusations of bias and the possibility of being used as a political tool for people who can pull strings in the agency like to Presidency to get at political opponents.

A number of cases have arisen where Nigerian citizens nabbed for money laundering abroad and rather than the Nigerian exercise the kind of interest that would allow for those cases to be dealt with in Nigerian courts and under our justice system, our Attorney General gets carted off to argue cases to keep those culprits abroad.

That ploy has in cases backfired because sometimes foreign justice systems would rather not wade into the murky waters of explaining the intricate matters of the Nigerian constitution or do the dirty work of other vested interests.

The Emperor’s funny certificates

Anyway, what is most interesting is that another scam as a result of the work of this agency is now being perpetrated; some people are issuing corruption-free certificates very much like one might get with a credit reference.

Some people are buying these certificates which they hope would be some sort of absolution testimonial when seeking political office or engaging in some business activity.

Well, what can I say? Does having a corruption-free certificate give me the confidence to deal with someone who has been so easily fooled?

This is the stuff the Emperor’s new clothes is made of and whoever came up with that idea must be both enterprising and a nasty crook, just as we have been educated this week about pretexting with regards to the investigation of Hewlett Packard directors, the clever crooks have been pretexting as EFCC officials with the authority to issue certificates which might be about being corruption-free but that does not make the recipient incorruptible.

Like with every scam, a fool and his money are soon parted.

Saturday, 9 September 2006

Your greed will serve you badly

What is prosperity?

When a good friend sent me this piece of news, I smiled and as he noted, it might interest me, it does.

I have always heard of the Prosperity Gospel, a message delivered in certain Christian congregations of the Pentecostal persuasion, I, for one have not fully appreciated the content or context, but I know what living the good life is all about.

In my perspective it is not about women, wanton living, bling and hedonism, rather, it is about having enough to be liberal in giving, being ready and resourceful to tackle issues and being able to see a way out of whatever situation as well as understanding contentment.

Whilst money is important, wisdom is the principal thing, one has to be smart about the use of time, resources, people, opportunities and trials.

The pastor was a bigamist

The piece of news I am concerned about is that of a Pentecostal priest who apparently died in an air crash in Nigeria intestate.

At death, he was eulogised, praised and lauded as a patriotic and selfless Nigerian, well, the truth has erupted like a long dormant volcano that has returned with vigour.

He had a second wife, so he was a bigamist, that secret became front page news when the first and second wife entered into a tussle about the pastor’s estate as it transpired that he was worth about $55 million.

One can imagine the shock when the first wife realised that she had a rival and surely, she would have wanted to prove that the other woman was an impostor.

But once she had ascertained that this woman was who she said she was, any level-headed arrangement would have allowed for them to come to some sort of amicable settlement and split the loot in two.

All for me and none for you

Well, they did not, because one who have felt deserving of more than the other and their lives flash before them about a life of grandeur with $55 million rather than $27.5 million as hedonistic insurance.

If, these women had listened the beautiful preaching of their late husband rather than sought to practise the acts of the self-same man, they probably would have been wiser and smarter about the corruption of great riches in the hands of those who have worked for nothing.

23 things to accounts for

The legacy of the man has already been destroyed as the evil men do does tend to live after them.

Anyway, their altercation on how to split this largesse came to the notice of the anti-graft and anti-corruption organisation in Nigeria and they waded in and impounded the whole inheritance because not proof could be found of how a pastor and electoral officer came into such great fortune stashed away in hydra-headed bank accounts numbering 23. Short intake of breath.

How is it that in this case too, two fools and their late husband’s ill-gotten money are soon parted? Because your greed would eventually serve you badly.

Tuesday, 25 January 2005

Avarice Anonymous

A business opportunity for the non-thinking expert
For years, a number of enterprising but nefarious and dishonest people have traded successfully in exploiting an abundant resource of gullibility and greed. Surprisingly, this resource has been more abundant in the West than in the Third World where these business deals are hatched from.
It is with amusement that one has watched the re-living of that fable, moral, idiom or ditty - "A fool and his money are soon parted" [1]. Whilst one does not in anyway condone these activities, having an education and being dumb is probably the congenital illness of many who are duped into "Get rich quick - GRQ" schemes.
The only GRQ I tacitly approve of is the moderate activity of minimum funding of a licensed lottery where the fact is you have to be in it to win it, your numbers could come up, but it is not something to invest in and break the bank. One ticket with your chosen numbers is just as good as a thousand with your numbers, only one set of numbers would take the jackpot, if and only if Lady Luck called at your boudoir.
Dear Partner? Are you talking to me?
Anyway, back to this scamming business, I hardly get as excited about email as when someone out of the blue sends me some information with a header like this:
Attention,
Dear Partner
PRIVATE AND CONFIDENTIAL
My name is Owen Kings; I am the credit manager in a bank here in the West Africa.
Then the proposition
I am the account officer of a foreigner named Gerald Welsh who died in an air crash along with his wife on the 31st October 1999 in an Egyptian airline 990 with other passengers on board. You can confirm this from the website below which was published by CNN WEBSITE.
Fine, there is a few million dollars to be made for masquerading as the long lost heir of a deceased Bwana; say William Wilberforce for example or a despot like Sani Abacha, warlord or corrupt African Mandarin, whatever.
In some versions of the letter the amount in words does not correspond to the figures. [2]
Take time to find out
A simple act of detective footwork – that is – searching the Web for either “Owen Kings” or “Gerald Welsh” reveals it is a 419-scam. [3] Otherwise known as Advance Fee Fraud. In my view it is simply Wily Fox meeting Stupid Chicken – the result of that meeting hardly needs extraneous imagination.
The conclusion of this deal normally includes you sending your account details and a fee to help unlock the account. This fee can run into millions of dollars with the hope of earning more millions.
However, you get fleeced, No not robbed; because you willingly parted with money with the inadvertent intent of being an accomplice in a crime that might bring great reward.
The business proposition at times end with this nice sounding part
Because I intend to retire after the conclusion of this transaction. If this proposal is acceptable by you, please endeavour to contact me immediately. Do not take undue advantage of the trust I have bestowed in you by informing you of this transaction from my bank as I will advise you to kindly desist from responding at all if you do NOT intend to render any assistance. Endeavour to respond via my confidential and official email address which is richschol_white@yahoo.com or call me on +234-8034-7444-81 for detail information.
Indeed, your partner intends to retire on your funds and does not take kindly to your further inquiries if you are not gullible enough to respond in the affirmative to the proposal. The cheek!
My Retort
I will help you; we are not stupid people here.
First of all, your CNN reference does not exist.
Secondly, a search for Gerald Welsh on Google reveals that your letter is a 419 scam.
http://www.interesting-information.com/nigerian-money-scheme/kings.htm
Thirdly, I have reported your nuisance to the ISP staff so your account would be removed forthwith.
Finally, get yourself a job and stop this dishonest stupidity, that you have the gall to call me partner in your nefarious scheme is too much of an insult to contemplate an effective response other than a rotten expletive.
Saving people from themselves
What one finds most surprising is the number of sites that offer help to people who have succumbed to their greed just as fish take to water. One wonders what help can be offered for the lacking of basic commonsense in the quest for easy money.
Luckily, I am not in law enforcement, the total redress for this situation is to both capture the scammer and the scammed who in addition to the shame of being humiliated and having lost money should be taken off the street.
These people are the selfsame sort who feed the beast of corruption that makes many Third World societies ungovernable.
Should there be a crime for giving in to your greed? Well not if you are having cheese cake, for the rest, the blame can only be yours - Surely!
References
[1] A fool and his money are soon parted
[2] Foreigner Named Gerald Welsh who Died in an Air Crash along with his Wife on the 31st October 1999
[3] Nigeria - The 419 Coalition Website
[4] 419 Known Operatives - FraudWatch International