I have this friend who does quite well at the Gambling Casino.
Virtually every time he goes, he wins.
He often starts off with $10 or $20 and comes home with $200 or $400 at the end of the night. Of course most people lose, but he manages to almost always win. I used to doubt it, but I went to the casino with him and his claims were legitimate and others corroborated his account.
I used to think that gambling was sinful and part of a depraved lifestyle. But after seeing how so many people dive into the stock market and it also attracts its fair share of seedy characters, what's the diff? Is it because in one endeavor, they don't like the guy with the moustache at the poker table because his breath smells bad due to all the cigars he smokes? But the guy in the pin striped suit at the stock exchange is 'respectable' because he's got the letters MBA from Harvard and the one at the casino doesn't have any?
And what happens to all your hard earned savings you 'invested' that got 'lost' in yesterday's stock market crash? Did it just magically 'disappear', got eaten by a computer which was spitting out the spiralling numbers when the markets fell? At least with a casino, you know where money went. The croupier took it and what you lost went to the House, or the Casino owners. But at least you know where it went. Trouble is inthe 2008 financial crisis we were all told that trillions of dollars, your money, was wiped out over night and companies just had to axe thousands of workers because they had no choice.but then reports surfaced around the same time that places like Silicon valley were flush with cash, but strangely weren't hiring any new workers. What gives? Oh so that's where all your hard earned money went.
Yknow, Leopardsocks/Oberon had a point in his earlier posts that eh stock market is one big ponzi scheme. And if that's the case, then if a person can make just as much or more money at some 'sleazy' gambling casino, then really, what's the difference?
Joe has this friend. :s0451:
Quote from: "Herman"
You're cynical Herman.
Quote from: "Fashionista"
Quote from: "Herman"
You're cynical Herman.
Only with certain people.
Ponzi schemes are are like pyramid schemes in that both rely on newbies to pay the early backers.Investors earn returns on new capital by new investors rather than from profit earned through legitimate sources.
Quote from: "seoulbro"
True enough. Legit company stocks and investment funds have always trended up. Get rich quick scams always leave behind pissed off broke people and hopefully scammers in slammers.
Quote from: "Herman"
Quote from: "seoulbro"
True enough. Legit company stocks and investment funds have always trended up. Get rich quick scams always leave behind pissed off broke people and hopefully scammers in slammers.
If you have a pension, it was invested in the markets.
Quote from: "seoulbro"
Quote from: "Herman"
Quote from: "seoulbro"
True enough. Legit company stocks and investment funds have always trended up. Get rich quick scams always leave behind pissed off broke people and hopefully scammers in slammers.
If you have a pension, it was invested in the markets.
My pension benefits are guaranteed though.
Quote from: "Herman"
You have no idea...... :laugh3: :laugh3:
I should post a found poetry poem from his thread titles...There are a few out there....
....oh well
Quote from: "kiebers"
Quote from: "Herman"
You have no idea...... :laugh3: :laugh3:
I should post a found poetry poem from his thread titles...There are a few out there....
....oh well
Do eet.
Quote from: "seoulbro"
Quote from: "Herman"
Quote from: "seoulbro"
True enough. Legit company stocks and investment funds have always trended up. Get rich quick scams always leave behind pissed off broke people and hopefully scammers in slammers.
If you have a pension, it was invested in the markets.
My provincial civil service pension fund is invested in a lot of things.
It seems even casino gambling can net a profit if you don't get too greedy. You have to know when to quit, or you'll lose a lot more than you bargained for.
I think banks are the biggest gambling institutions that could ever exist.
I got your gambling for profit shit right here. :negative:
Quote from: "shin"
Can you explain that shin?
Quote from: "Wulf"
It's not her mistake though. The casino should pay up.
Quote from: "Wulf"
I think they will not get off with just a steak dinner.
Actually, I think they made a law years back that protects casinos in cases of malfunctioning slots machines and other mishaps that they can claim "favored a sizeable win in error". I read a story a while ago where people kept winning consecutive hands at blackjack and the casino got out of paying the winners.
Quote from: "Fashionista"
Quote from: "shin"
Can you explain that shin?
Banks use the money you have in your account to invest in stocks. Of course, they rarely lose much since they have insider information being fed to their investors. That's one reason they will never go broke paying even people with large account balances interest. they do make a pretty penny charging overdraft fees, also.
I could be wrong, but I don't think I am.
Here are some other news stories where someone got cheated out of what appeared to be successful wins.
http://www.storm2k.org/phpbb2/viewtopic.php?t=81798
http://abcnews.go.com/TheLaw/story?id=3772215
https://www.techdirt.com/articles/20070125/000836.shtml
Quote from: "shin"
I could be wrong, but I don't think I am.
In other words they operate like a pension fund?
I do know Canada has some of the most stable banks in the world..
I hope our resident financial guy, seoulbro wades in on this topic.
Quote from: "Fashionista"
Quote from: "shin"
I could be wrong, but I don't think I am.
In other words they operate like a pension fund?
I do know Canada has some of the most stable banks in the world..
I hope our resident financial guy, seoulbro wades in on this topic.
They're not really supposed to "gamble" your monetary assets, but it gets through a legal loophole and they are able to return your cash, plus interest you have accumulated, so most people wouldn't coimplain.
It's a great way to profit from wealth if you just leave a large lump sum of money in a high yield interest fund account until it gets to be sizeable. Theoretically, you could gather the funds of many willing people into a shared account and split the profits.