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A comment on Why forex trading is exploding across Africa. Parent comment

Re:Why forex trading is exploding across Africa by ChuckNorris89 on Tuesday March 09, 2021 @10:23AM (#26399616)
>Classic pyramid scheme. It works great in poor countries since people aren't as educated

Bingo! Schemes like these were popular in Eastern Europe after the fall of the iron curtain where some people got rich and a lot were left holding the bags since most had no financial education but were poor and desperate enough to fall for get rich quick schemes as there were no laws against this sort of stuff during the transition phase to capitalism.

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Re:Why forex trading is exploding across Africa by f6v on Tuesday March 09, 2021 @10:27AM (#26399657)
I constantly get ads for these in vk. There's usually a guy wearing good suit, driving lambo in a company of stunning woman. "Wanna be in his place? Sign up for our exclusive course!"
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Re:Why forex trading is exploding across Africa by ChuckNorris89 on Tuesday March 09, 2021 @10:37AM (#26399787)
Bruh, I get the exact same type of ads in Austria on instagram from some German dude.

These fake millionaire lifestyle gurus are everywhere.

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Re:Why forex trading is exploding across Africa by dgellow on Tuesday March 09, 2021 @10:49AM (#26399937)
Im in Germany, since the beginning of the pandemic more than half of my YouTube advertising is some sort of MLM or other very obvious scams! Everybody seems to be selling their fantastic courses and really want to share it with the rest of the world :)
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Re:Why forex trading is exploding across Africa by nannal on Tuesday March 09, 2021 @10:30AM (#26399709)
> these were popular in Eastern Europe

Aside from Albania & the 1997 unrest, where else had these issues?

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Re:Why forex trading is exploding across Africa by ivanche on Tuesday March 09, 2021 @10:44AM (#26399880)
Former Yugoslavia. Heck, we even had banks that offered monthly 10-15% interest on savings accounts in Deutsche Marks. Needless to say, the whole scheme collapsed after a year or so.
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Re:Why forex trading is exploding across Africa by ChuckNorris89 on Tuesday March 09, 2021 @10:38AM (#26399792)
Romania
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Re:Why forex trading is exploding across Africa by Mediterraneo10 on Tuesday March 09, 2021 @10:44AM (#26399870)
Yes, the most infamous Romanian case was "Caritas" in 1992–94.[0]

[0] https://en.wikipedia.org/wiki/Caritas_(Ponzi_scheme)

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