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Child Item

What Scams have you only just Realised?

AlphaRed

I'm going to say energy saver light bulbs and gyms.

Energy saver light bulbs because they have never made a difference to my electricity bill, they don't last longer and they are way more expensive. They perfected the light bulb a long time ago, leave it at that.

The gym because so many gyms are filled with machines and machines do not built muscle, and in order to do muscle building compound movements you have to be trained on how to do these and the instructors don't do this. They only give you crappy programs that don't help you in achieving your goals

It is in the gyms interest for you to fail. A gym has a theoretical limit to how many members it can hold, which means it has a limit to how much money it can make. However, if the gym is signing people up but those people are not attending, there is no limit to how many people the gym can sign up and so no limit to how much money it can make.

How many people attend a gym for 3 months and then give up because they don't see any results? And then they have to keep on paying the membership fee. This is what the gym wants. This is why they don't show people how to diet properly or how to use the equipment properly to get results.

The gym is a scam.

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Saipanne

ComfortKid wrote: »

Dont be talking the truth lads or this will be moved to Conspiracy theory forum

That would be the wrong place for such a topic.

EazyD

M50 Toll. Nowhere else in Europe would you have to pay the equivalent, such a joke.

Greenmachine

Op is guilty of clickbating me.
Most people who, think they have been scammed don't know the meaning of the word.
The best way to scam someone, is when they don't realise they have been scammed. "Can I interest anyone in a fine leather jacket"

keithclancy

EazyD wrote: »

M50 Toll. Nowhere else in Europe would you have to pay the equivalent, such a joke.

We pay 31.60 to Drive from Roscoff to Eindhoven one way (French Tolls)

Visiting Switzerland you have to pay 40 euros for a year pass, even if you only go for a few days.

The Liefkenshoektunnel in Antwerp is 6 Euros.

On top of that the Motor Tax on my Dutch Registered 2 Liter Diesel Volvo is 1368 per year.

I thought i'd avoid the M50 once, took me one hour longer on my journey.

The barrier free thing saves you a load of time, in France and Belgium you have to stop in a traffic queue and fart around with Tickets and Machines.

M50 is totally worth it.

DuffleBag

TV licences

KomradeBishop

Nucular Arms wrote: »

It's actually sad how uninformed most people are about the operation of the financial system.

When the government needs more money in the supply, let's say, 2 billion euro, they approach the central bank and trade government bonds as a form of security to the central bank on a loan of the 2billion.

As you know, loans are susceptible to interest. And yet, if the central bank is the only entity that can affect the money supply, and seeing as this latest loan is for money not already existing in the money supply, the key thing to consider is.. how is the government supposed to pay off the interest of the loan? As, by definition, there is no more money in the supply in order to do so.

So where does it come from? Tax. That's where from.

You can see the effects of this fractional reserve banking even in the creation of irish water. The IMF and the eu, acting as the central bank of the nation, basically agreed to loan money to the irish government on condition that it would be paid back with interest.

Where does the interest come from? USC, Irish water etc, etc, etc

Well, it works fairly different to that but you touch on some important points alright: Nearly all money (about 97%) is created through loans (there is no fractional reserve banking, neither is there a money multiplier - it's just created from nothing), which means that new Debt is created at the same time as money, at a 1:1 ratio.

As you say though, Debt carries interest over time - but if all the money in the economy is created through loans/debt, where does the money to pay the interest come from?

Answer: From more loans (that also carry interest...), as that's the only way to create more money in the current system - it's effectively rolled-over forever, or until the economic system crashes (as it does every 30 years or so).

If you count All Money in the economy and All Debt, then - assuming we start off at a 1:1 ratio of 'All Money':'All Debt' - due to interest, the total amount of Debt in the economy is greater than the total amount of Money, and keeps on growing!

So, over time the ratio of 'All Money':'All Debt' will become 1:2, 1:10, 1:20 etc. (all of that carrying interest, creating an ever-greater burden on the economy), unless something brings that ratio down closer to 1:1 - obviously this is completely unsustainable, and this is a big part of what causes the 'economic cycle'.

There are a few ways of reducing the total ratio of Money:Debt, such as:
1: Give out more loans (creates Money:Debt at a 1:1 ratio, pulling the overall ratio of 'All Money':'All Debt' closer to 1:1 - problem is, nobody wants to take out loans now)
2: Defaults/writedowns (reduces overall Debt)
3: Have the central bank give money to government, or directly to the people (increases overall Money, without having to rely on banks)

Usually '1', giving out more loans, is what is done to keep stability - but if Private Debt is allowed to grow too large, and loans are invested unwisely (e.g. into a housing/construction bubble, leading to a crash later on), then the entire system becomes stuck as soon as a big enough economic crash is hit, because people have too much debt already, and don't want more loans.

Economies then get stuck in debt-deflation, where trying to pay down the excessive amount of Private Debt (which removes Money from the economy as well as Debt) without adding more Money to the economy to help pay for this, holds the entire economy down in long-term stagnation.

murpho999

EazyD wrote: »

M50 Toll. Nowhere else in Europe would you have to pay the equivalent, such a joke.

Are you serious? There are toll roads all over Europe and often dearer than the M50.

KomradeBishop

Nucular Arms wrote: »

The crazy thing is that it isn't even a conspiracy! This is just a statement of the acknowledged policies and practices of the world's banking system. Apparently everyone just thinks this is all ok?

I mean komrade Bishop above linked to a document published by the bank of england ffs! There doesn't need to be a conspiracy precisely because nobody really gets finance / economics spiel bar trained financial / economic personnel.

You know, the ones making obscene profits from the system they have created that no one understands bar them and which no one has a choice but to fall in line with?

And the even more amusing thing is that, as you say, if you were to actually point out the glaring nuttiness of the whole system that you would be the the one to get the funny looks!

The system has worked like this, with banks creating money from nothing, for about 70+ years - but until relatively recently, the vast majority of economists did not know this

(and many economic textbooks, still teach the wrong version of how bank lending and money creation works)

So, the vast majority of economists have been getting wrong, their understanding of money creation, the monetary system, money and banking itself (all the most core/critical parts of the economy), for the best part of 70 years.

Little surprise then, that practically none of them saw the economic crisis coming

Brancott

The government charging 51% tax on anything over €36.4k
You'd feel like a right chump if you were a PAYE worker

Amalgam

Going from being payed to incentivize you to keep money in a bank, to spending your money to.. keep money in a bank.

[Deleted User]

GP's. Many of them don't know what they are talking about, and don't even feign interest to disguise it. But hey, that'll be €60 please

Irishcrx

Brancott wrote: »

The government charging 51% tax on anything over €36.4k
You'd feel like a right chump if you were a PAYE worker

What?

Is it not 40% higher rate.

http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax/how_your_tax_is_calculated.html

[Deleted User]

Irishcrx wrote: »

What?

Is it not 40% higher rate.

http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax/how_your_tax_is_calculated.html

Yeah, the poster was including levies in their 51% number

Joshua5

divorce

emeldc

Joshua5 wrote: »

divorce

Depends which side you're on

Geuze

Nucular Arms wrote: »

It's actually sad how uninformed most people are about the operation of the financial system.

When the government needs more money in the supply, let's say, 2 billion euro, they approach the central bank and trade government bonds as a form of security to the central bank on a loan of the 2billion.

As you know, loans are susceptible to interest. And yet, if the central bank is the only entity that can affect the money supply, and seeing as this latest loan is for money not already existing in the money supply, the key thing to consider is.. how is the government supposed to pay off the interest of the loan? As, by definition, there is no more money in the supply in order to do so.

So where does it come from? Tax. That's where from.

To be clear, the Govt has no or very little control over the money supply, that is the function of the central bank.

KungPao

I haven't just realised it, but those optional "insurance" payments in shops. In Argos the other day buying a mediocre €25 webcam, till girl asks if I want to pay €7 extra, you know, just in case something happens...LOL GTFO etc.

Shops that sell vaping liquid at like €15 for 30mls...LOL, I get them online for a fiver, go on outta that ya chancers.

The price of a single can of beer can be pushing €2 in an offie, but right beside it you can pick up an 8pk for a tenner.

I know I'm stretching the definition of 'scam' here, but these annoy me, it seems in everyday life you really need to keep an eye on prices and the like, or risk a nice fleecing.

Geuze

Nucular Arms wrote: »

It's actually sad how uninformed most people are about the operation of the financial system.

When the government needs more money in the supply, let's say, 2 billion euro, they approach the central bank and trade government bonds as a form of security to the central bank on a loan of the 2billion.

It is sad, yes.

Just to note that the Govt can not, do not, and have not received loans from the ECB.

That is illegal, and does not happen.

The ECB buys govt bonds, but that's not the same, as the ECB have bought them in the secondary market as part of the QE program.

Geuze

KungPao wrote: »

I haven't just realised it, but those optional "insurance" payments in shops. In Argos the other day buying a mediocre €25 webcam, till girl asks if I want to pay €7 extra, you know, just in case something happens...LOL GTFO etc.

If the device is faulty, you are covered by the 1980 Sale of Goods and Supply of Services Act.

donegal.

Geuze wrote: »

If the device is faulty, you are covered by the 1980 Sale of Goods and Supply of Services Act.

is the extra insurance not cover accidental damage ?

still a scam though

[Deleted User]

HandsomeDan wrote: »

LED bulbs use a fraction of the energy, last massively longer, and cost you considerably less in the long run.
.

The last point is not true if its in a location where its used only infrequently.

MrVestek

Irish Water.

Saipanne

MrVestek wrote: »

Irish Water.

You only just realised?

MrVestek

Saipanne wrote: »

You only just realised?

Selfie time:
685608127.png?186

Saipanne

MrVestek wrote: »

Selfie time:

Fail.

the_monkey

LDN_Irish wrote: »

Pyramid scheme.

Yep, total scams, I prefer the Trapazoid model though ...

[Deleted User]

Joshua5 wrote: »

divorce

Wrong! Marriage is the biggest scam going.

leavingirl

Realised this a while back - trying to earn a living in Ireland! God help you if you get sick. The hospital system is a complete lottery!

Public_Enema

Deleted User wrote: »

Wrong! Marriage is the biggest scam going.

Amen to that.

Grayson

donegal. wrote: »

is the extra insurance not cover accidental damage ?

still a scam though

It depends.

Say you buy a laptop. After the second day it stops working. You can bring it back for an exchange.

If it happens after 30 days it's covered by the 12 month warranty.

After 12 months you have nothing. The statutory warranty in the EU coves 12 months.

And lets say you drop it, that's not covered by anything.

However some insurance coves you against that. So say you drop it, they'll still repair it if it's insured. Sometimes they don't sell extended warranties but afher sell insurance that coves it after 12 months. And insurance generally costs more.

(Incidentally, I used to work for a large PC manufacture. One day we had a call from a guy who's computer wasn't working. It was determined the motherboard needed replacing. An engineer was sent out with a replacement part. When he got there he called in. He could smell piss in the computer. The guy who owned it said his room-mates cat had pissed on it one night and that caused the problems. Needless to say, cat piss is not covered by warranties.

)