Another Reminder: Don't Let Greed Guide Your Investments
(Minghui.org) The Chinese economy continues to decline, and the reality of changing from a real to a virtual economy is very serious. As a result, the real economy is dying, and people are placing themselves at great risk by flocking to a virtual economy.
Some listed companies do not put effort into business development, but instead rely on false reports that depict the company as a “good” prospect. It seems this is intended to defraud investors.
There is a phrase, “ghosts and animals are everywhere” to describe China. In addition to the Chinese Communist Party (CCP), there are many other evil factors that are destroying people in many ways.
In January, I wrote the article “Practitioners: Don’t Let Greed Guide Your Investment” as a superficial look at a variety of financial scams, including the so-called “financial products.”
Some practitioners have since shared their lessons in this regard. For example, they ended up losing money, or had serious physical illnesses, etc.
When I read the article “Painful Lesson: Losses When Gambling and Playing the Stock Market,” I thought that it seemed necessary to again point out and resolve these kinds of scams.
The differences between this article and my previous one is that this type of scam does not use the approach of “drawing in a number of people,” but instead, defrauders behind the scenes scam you.
Here is typically how it works:
It starts when a stranger suddenly adds you on the QQ or WeChat online chat services. Or some acquaintance contacts you. They start by discussing ordinary topics, but then slowly guide you in the direction of the scam, saying how fast and how much money you can make. One's attachment to greed can be stimulated very easily!
Then, when you want to try it and open an account with their company, they begin by saying things designed to dispel your concerns.
If you have less money, they will tell you to use the leveraged or borrowed capital (e.g., if it is a 5x leverage, with 20 yuan you can do a 100 yuan operation). I have seen leverages up to 200x that would potentially make you more money. But they do not tell you the downside, that you will also forfeit more money than you actually invested if you lose.
If you are not sure how to do the transactions, they refer you to an adviser. These so-called “advisers” are listed with falsified qualifications, and make potential investors believe they are dealing with professionals who will help bring them a fortune.
They ask about your past experience, etc., with the purpose of calculating how much money they can get from you!
If you express concerns, they tell you that you can get insider information, and mention either expressly or implicitly that there are CCP officials behind the scenes to help them.
They typically mention departments that the public is not familiar with, which sound legitimate. For example, the National Security Agency.
After you invest with them, you get caught up with the market’s ups and downs. At the beginning, you earn a little money, which was arranged by them. When you become hooked, and develop a gambler’s mentality, they then start to operate behind the scenes!
They borrow corresponding data from international exchanges to show to investors. However, investors’ funds are not connected with international exchanges, but are actually in the hands of these scammers.
It is the equivalent to a platform (company) or a casino, where you go to gamble.
They also provide you with software, and do all sorts of modifications to the software behind the scenes to ensure that you will lose your investment. They use your money to make money for themselves.
When you complain about the lost money, they say that you hadn’t grasped the market accurately, and/or it was caused by improper operations. And you are encouraged to increase your investment, that is, until all your money is drained.
The above-mentioned process is the most common example. Of course, there are more complicated procedures, but they all work in essentially the same way—to fool investors into finally losing their money.
Now, futures of gold, silver, other precious metals, crude oil, asphalt, etc., are commonly part of this category of frauds. These are different from those that focus on drawing in a number of people. This scam focuses on your “seeing is believing.” You are drawn into the scam step by step. This is a more insidious form of economic persecution, also designed by the old forces.
Dafa disciples vow to assist Master in Fa-rectification and give up attachments to material wealth. When we understand this, and then think about these scams, we see how very insidious they are.
I hope that fellow practitioners can lay down their pursuit of monetary gain. Please sharpen your vigilance and put your hearts in raising your xinxing and helping to save sentient beings.
Again, if there is anything inappropriate, please point it out with compassion.
Category: Improving Oneself