The gold market could be a scam?

Every minute a sucker is born (PT Barnaum). Let us not be one

From what this post has learned, when you buy gold you only get certificate of gold deposit.  You do not get deliveries of physical gold.   Perhaps a  5,000 units certificate are over a 1,000 on physical gold.  And when you ask for delivery.....

That is why Germany and France (not 100% trusting US) took physical delivery of gold - their reserves from US.   And thereafter, Pres Nixon  in 1973 ended the pegging of dollar to gold as specified in the Bretton Woods agreement of 1944.  The dollar was no longer gold backed.  It became just a fiat, and its value depended on trust at US.   Probably starting the end of US dollar as legal reserve for banks.   

Not many countries think US is trustworthy now...

     1.  Its 38T dollar debt that many think cant be repaid;

     2.  Weaponizing the dollar as in the case of sanctions vs Iran and Russia

     3.   The harsh tariff being imposed by DT vs the world (fortunately US SC has ruled that DT

           has exceeded his power by using an emergency law to dictate an economic policy

Cashless environment is ripe for scams: tapping card for payment; your vault is your CC and cellphone

Every minute a sucker is born (PT Barnaum). Let us not be one

How do they scam you using your card that is activated by tapping.   We all think that everything on line, on the net is legit.    The more you should be careful (mfc technology)

Thieves no longer use knives or guns to take money forcibly from you:   only a cellphone and a device.   And your safe is your cellphone.    They can scan hack your  CC, Debit card from a distance

There was a hotel in Cebu which is notorious for having your CC hacked.  After checking in that hotel, my CC reflected more than six number purchase in UK.  I havent gone to London.  Not interested in the Queen.  

Keep your card in scam proof device

Take care of your phone and your OTP.     

I do not put my bank account in my CP.  

 

New scams to watch for in 2025! Dont be a victim?!

Every minute a sucker is born (PT Barnaum). Let us not be one Very few read this blog. I guess many have been victims

Scams by Pastors; from tithes donations tickets when parishioners cant even pay rent on time

Every minute a sucker is born (PT Barnaum). Let us not be one

Many pastors lived luxurious lives are millionaires.  Donations found their way to luxury car, jets, and multi million dollar homes.   How dare they use name of God to defraud followers.

They belong to prosperity pastors.   That if you gave more, you get more.   God wants you to be rich.  

Dont be a victim. 

The Catholic church through Pople Leo XIV is correct in enjoining cardinals to sell cars, to spend a time in their missions for homeless, to live in ordinary apartments, and sell cars.  

But of course there is resistance from those who live on culture of entitlement

Jeff Carpoff from a mechanic to a venture sydicator

Every minute a sucker is born (PT Barnaum). Let us not be one

Some people are ingenious and resourceful.   How come they can pull off a scam like this, and yet other mortals cant form a company.?

Did his amazing wealth come from top level scam?

Every minute a sucker is born (PT Barnaum). Let us not be one

Gautam Adani ranked 3rd richest person in the world.  Some of the members of the family  figured in corrupt and illegal practices. But none was indicted.   

They were exposed by short seller Hinderburg.   

Why do govts allow such practices to take place.   The coins turned their eyes blind    

Not giving change due to alleged shortage of coins tantamount to estafa

Every minute a sucker is born (PT Barnaum). Let us not be one

I bought a cold coffee in one of the low priced convenience store in the mountains.  I was to given a change of P0.25.  And I was waiting.   

Their other branches habitually do not give change.   We remember before we protested vs stores giving candies as change.    And in Davao City, it was considered a crime if you do not give exact change.  

Giving exact change

This post demanded the P0.25.   There was a study that if done daily and on a year, either the cashier or the establishment hauls in a large sum if they miss giving change.  This is prevalent in new retail stores being put up en masse

Can we call out this multilateral institution funded convenience store for the non giving of change to customers.??  Can they train their staff on integrity.   I discovered in 4 decades in business that all people try to do their own MO to defraud customers.    Despite being Christians.