I used to think that people didn’t understand how these new sou sous worked or the dangers involved and if they did they wouldn’t take their hard earned money and put it at risk like that. I used to believe all that was necessary was to educate these people and they would see the folly in their ways. However, that kind of naivety is like them old men believing the gyal who name rhymes with Masha Mingh loves them or that Movado watch you bought from the “piper” on Frederick Street is not in fact a “thousand-tick” Movadio.
In reality I have come to the realization that the vast majority of these “investors” know they’re taking a big chance. They’re “trying a ting nah”. They know it’s risky but still get involved in case they are one of the lucky ones who “get through” or GT. There are even some of them who actually believe that the people running these schemes, with no substantial financial expertise or background, have somehow found the Da Vinci code to investment management with astronomical returns. They believe everything is as it should be and only the jealous banks and elites are fighting down the average man. Yeah that last group are true “tin-foil hat wearers” who rank in the same category as flat earthers believers and climate change deniers.
What all of them have in common though is greed and a disregard for their fellow man. They aren’t concerned with who else might lose their “hand” as long as they GT. As long as they could get in and out before the whole house of cards comes crumbling down then crapo could smoke everybody else pipe. It doesn’t matter if they get a history lesson about what happened in Jamaica with OLINT and Cash Plus. Stanford and Madoff are abstract notions to them. All they know is that Joel from on the corner and Cheryl from by the hairdresser GT and swear that everything “safe like Selassie I briefcase”.
Then you have the authorities who are all guilty of dereliction of duty. I’ve been asking the same questions since the explosion of these schemes. If these are indeed investments as they are purported to be then don’t they have to be registered with the SEC? If they’re deposit taking programs then aren’t they supposed to be regulated under the Financial Institutions Act? Are these schemes tax complaint if they are legitimate businesses? Do they pay NIS etc. for their employees? What is the role of the CBTT in regulating these things? If we in fact have no laws against these ponzi and pyramid schemes then what are we doing about that?
Then there is the alleged connection to rogue law enforcement personnel, politicians and members of the armed forces. There’s even hints of involvement of the underworld in some sort of diabolical money laundering super criminal enterprise. Something only The Brain from Pinky and the Brain or Marty from The Ozarks could come up with. I’m not saying there is evidence of any of that. What I will say is there is an old saying “the absence of evidence is not evidence of absence”.
Anyway, I give up. Yuh big and yuh hairy, allyuh sou sou or don’t sou sou. Just don’t blame anybody if the ponzi fall apart and yuh money jumping up.