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18h15 UTC; FRIDAY, 14 MARCH 2014: It's well-known for a fact that scammers have long been known to be the first to take advantage of the newest in investment concepts, the better to take advantage of the vulnerable and the less-sophisticated for quick profits (and, hopefully, attention and notoriety).

Case in point (though Your Correspondent is unaware of any actual exploitatives at the moment): President Obama's recently launching the MyRA retirement savings plan designed to encourage low wage workers to start retirement savings with as little as $25 into an approved MyRA plan. Which, IMHO, may be a way by which investment-related scammers could flog off so-called "High-Yield Investment Plans" (HYIP's) on an unsuspecting and guillable audience of such under instructions to find work as a requisite for continued welfare eligibility, knowing such lack the savvy or the smarts to "ask and check" about the legitimacy of said investment opportunities (mostly out of fear that their "outspokenness" could be grounds for blacklisting or otherwise being banned from welfare for life in certain circles, or in certain parts of the country lacking realistic job or career opportunities and prospects).

Especially so through "ask your neighbour" campaigns in which certain co-workers could be asked to play the role of "recruiters" for such scam MyRA plans in exchange for commissions on new signups, or even through "community potluck suppers" or similar gatherings in lower-income or economically-disadvantaged communities where the MyRA scheme is being targeted all the more.

Which, all in all, may conceal some rather unwholesome possibilities:
  • The "fund managers" probably using assumed names to avoid attracting suspicion because of SEC and/or FINRA sanctions for similar misconduct in past, or otherwise associating with the Dregs of Society.
  • Use of the "sovereign citizen" device (and all its nuanced perversions) by said "managers" to avoid regulatory courtesies, especially such requiring issue of an approved offering circular explaining the fund's objectives, risks, fees and expenses (and using as the patsy that said regulations "are outdated" or otherwise "prevents 'REAL AmeriKKKans' from taking advantage of new and innovative investment vehicles" expected to "promote self-reliance, personal responsibility and thrift").
  • Claims that the returns on investments offered are somehow "guaranteed" to be at least 3% p.a. (as opposed to bank savings accounts and CD's currently paying less than 1% p.a.), with an added "social responsibility" angle (as in pledging to donate part of the profits to social-development projects in the Ronald Reagan Free Trade Area) such as HYIP's love to push.
  • The stateside office address (actually more of a mail drop than anything) excused as "a mere formality", which suggests that the "real" offices of the company are probably offshore (and contending that "tax reasons" require this).
  • Unwillingness to release regular, timely and audited financial statements on fund performance, contending that such a requirement is "outdated and unnecessary" and "drives up costs needlessly" to the point of "diluting" possible returns.
  • Playing up stock anti-Semitic canards about "unhealthy and disproportionate Jewish control and influence" on Wall Street requiring a "Christian Patriot" approach to retirement savings.
Is this any way to empower the "chronically and habitually government-dependent" into taking more responsibility for retirement planning, as if suggesting that State Social Security may not be there when they need it (perhaps because of denationalisation thereof having failed within measurable distance)?

And One Thing More: Something worth asking especially the "Tea Party" brand of Congressperson at "town meetings" scheduled for the spring recess (check your local media for exact times and venues) would have to be that which seeks to know how they expect to finance the United States Government at a nil rate of taxation--and to imagine the response of dumbstruck ignorance such as would make it viral in YouTube without benefit of HLN's new programme Right This Minute, which seeks to identify potential viral videos (and which doesn't seem to have had much luck picking the winners, come to think of it).

En 'n Ander Ding, as they'd say in Bloemfontein:



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