18 Major Scams That Shouldn’t Be Allowed to Exist

 Scams are everywhere and can be hard to detect. To get a better idea, someone recently asked, “What are some of the biggest scams to have happened in history?” Here are the top 18 responses. 

Bernie Madoff’s Ponzi scheme

Bernie Madoff_s Ponzi Scheme
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“He had over ten percent of Wall Street’s money. It’s absolutely insane how badly the U.S. Securities and Exchange Commission (SEC) failed the world during his reign.”

“In Texas, we call that stealing. Wait, I’m pretty sure it’s stealing, no matter the state.”

The infrastructure expansion of US Telecom companies

US Telecom Companies Getting 200 Billion To Expand Infrastructure
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“US Telecom companies got like 200 billion to expand infrastructure, which they didn’t do – then used that money to screw us over with the Federal Communications Commission’s (FCC’s) ‘fast lanes.’”

Didn’t make any improvements to infrastructure. Really should have had more regulation around it because that money was essentially stolen.”

The price of printer ink

The Price of Printer Ink
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This is really a thing the EU ought to regulate better. They have introduced USB-C for standardization. Now, please force printer companies to make new models that all adhere to one standard ink cartridge that must be able to accept any 3rd party made ones.”

“We should crack down on lots of this stuff. The more standardized stuff is, the easier to recycle or refill or reuse also.”

Inflated ticket prices on Ticketmaster 

Ticketmaster
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My hate for Ticketmaster is beyond anything in the world.”

“22k for Taylor Swift. HAHAHAHA.”

Expensive college textbooks

College Textbooks
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College textbooks (buying ‘new’ editions every semester when they just rearranged a couple of chapters around).”

“Online college textbooks or ‘e-texts’ are an even bigger scam nowadays. And they seem to become increasingly popular each year.”

American hospital billing

American Hospital Billing
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The minute you ask for an itemized receipt and breakdown, they start removing charges left and right, and the bill gets reduced by ~30%.”

The last time I got a hospital bill, I sent it to my debt consolidation lawyers, and they were all like, ‘Don’t worry about it.’ And they made the debt completely vanish.”

Selling the Eiffel Tower

Fake Selling of Eiffel Tower – Twice
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Victor Lustig sold the Eiffel Tower twice because the first victim was too embarrassed to complain that he’d been stupid. That’s the psychology behind all successful con tricks.”

“Wasn’t the London Bridge sold multiple times too?”

The fake country scam

When Are You Moving Back To Your Home Country
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“Gregor MacGregor tricked a whole bunch of people into moving to a fake country in Central America.”

Terrible person, awesome name.”

Tulips in the Netherlands in the 16th century

Tulips in the Netherlands in the 16th Century
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There was a point at which one tulip bud cost as much as a good house.”

“That wasn’t a scam as much as the market has gone crazy.”

Diamonds

Diamonds
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Diamonds are lovely stones, but I cannot justify the premium price. Moissanite fan for life right here!”

“Materials are often only worth the arbitrary value people put on them.”

Appliances and technology use-by dates

Not Good at Troubleshooting Technology
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I pulled out an old iPad when my main computer had a hard drive fail, and the damn thing apparently couldn’t figure out what the internet was anymore. Now it’s just basically an Angry Birds notepad that can’t keep a charge.”

“I had to take a course last year, so I dusted off my old laptop from when I was in college. It still worked fantastically. But I needed Microsoft Word, which couldn’t run on that laptop anymore because the os was outdated. No problem, I had Word on it before. I’ll update everything. Nope, everything is too old. There was no way I could find to get a word processor on my laptop because it was ten years old.”

Bottled water

Bottled Water
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Research suggests that for most Americans, the stuff in a bottle is not better for you than the stuff in your tap. In fact, a recent report found that almost half of all bottled water is actually derived from the tap, but may be further processed or tested for safety.”

“Nestle pays $1, total, per year to bottle public water in the Sierra Nevada mountains in California. Their permit is valid even during severe drought periods. They’re bottling up the public’s water and selling it to them.”

The war against drugs

The War Against Drugs
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You can get drugs while in jail for drugs. It’s working!”

“Disagree. There was definitely a war. Drugs won.”

Blaming consumers for climate change

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Blaming everyday people for climate change when the real culprits are big companies and industrial countries.”

“As much as you can think you’re not influenced by advertising, you are. We all are. We are all influenced by the consumerist culture we live in, and that is in large part a culture manufactured by big companies’ advertising and lobbying.”

US student loans

Student Loans
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Colleges paying football coaches millions of dollars and giving them private jets is why college is so expensive.”

“Government involvement is 100% the reason college is so insanely expensive. But people get big mad when you say that and demand the government (who caused the problem) absolve student loan debt. Even if they did, it doesn’t fix the underlying issue.”

The gold mine hoax

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“Gold miners Arnold and Slack in 1872 tricked some bankers into buying a fake diamond mine.”

“The diamond hoax was interesting. That geologist was like, ‘Ya, this is dumb.’”

Trickle-down economics

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I don’t care which party you’re in, convincing our parents that by giving rich people more money, they’d get more and somehow getting them to buy that nonsense is the most impressive con I’ve ever seen run.”

“Trickle-down economics is just rebranded from what was previously called horse and sparrow economics. The analogy is that if you fed the horse well, too well, there would be undigested grain in the dropping that the birds could feast on.”

Cryptocurrency and non-fungible tokens (NFTs)

Photo Credit: Rokas Tenys/Shutterstock.

In retrospect, it’ll be crypto and NFTs.”

“Watching people throw their life savings into Crypto, seeing it disappear overnight, and then just having nothing left is so tragic.”

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toxic
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