2 ms·
Binary Options aren't fake, they just sell an awful gambling product to dumb people. MMM what? 3M, or Mr Money Mustache's blog? What about Better Place? There
by hopler 8y ago
Binary Options aren't fake, they just sell an awful gambling product to dumb people.
MMM what? 3M, or Mr Money Mustache's blog?
What about Better Place? There wasn't just a startup that tried and failed and paid its insiders too much money?
Madoff is an interesting case, because some of his customers were traditional conservative institutions, not just fools looking for a get rich quick scheme (who deserve what they get), but apparently avoided any auditing for many years?
- zozbot123 8y agoBinary options are "fake" in that they're often promoted by boiler-room operations in a fraudulent manner-- it's not like they're something that's actively traded on the market. If anything, it's more common to use a "collar" strategy in order to get a similar sort of exposure, but benefit from liquidity of the ordinary options markets.
- rkho 8y agoMMM is a ponzi scheme from Russia in the 90s: https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)
- JetSpiegel 8y ago> In October 1994 Mavrodi managed to win a by-election to replace Andrey Aizderdzis in the State Duma, and with it immunity from prosecution.[17] Mavrodi claimed to be the victim of jealous bureaucrats, and that MMM shares would regain their value if he was elected.[18] During the campaign he was supported by Vladimir Zhirinovsky, who hoped that Mavrodi would provide him with future financial backing.[19] After being elected he appeared in the State Duma only once, to vote against an attempt to strip him of parliamentary immunity.[20] This is after the bubble collapsed.