The Pyramid Schemes
April 5th, 2006
Firearms, angry mobs, and false imprisonment… this may sound like your average Saturday night in Dunmanway, but theres a nasty twist to this particular Wesht Cark tale. Not since the days of Michael Collins has there been such tension among neighbours down this direction. Thankfully, the Gardaà have clamped down by introducing extreme measures such as urging caution. Today, they stepped their efforts up a gear, by appealing for complaints. The ringleaders are surely quaking in their crocodile skin boots now.
Dave’s article generated lots of interest a couple of weeks ago. What has changed since then? Its still spreading like a fungus, and spawning imitations all over the country. How many schemes are operating within schools, with 16 and 17 year olds forking out €800 each to take part? I wonder about the kid who started each of these. To think that I felt guilty about my premiership football sticker syndicate in 1995, which raked in up to €8 per day.
“But its legal, people choose to buy into it.” Some people don’t have a problem with shafting their friends and family; people who trust them. They are right in saying it is not stealing; it is gambling. But there is a reason why gambling is illegal in so many places. These people do not remember the horrors of Albania in 1997, where the worst case scenario did manifest itself, resulting in many deaths, economic disaster, and nearly a civil war. Seven out of ten families in Albania lost their entire life savings when their pyramid collapsed. Granted, such extremes could not be reached in Ireland, but with these statistics I cannot see any acceptable justification for the continued existence of these scams. This cannot be compared to your winning streak scratch cards, or Paddy Power… the potential damage is incomprehensible. A line must be drawn somewhere, and its time the Gardaà stopped ‘urging caution’ and said something worthwhile instead.
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April 16th, 2006 at 20:12 pm
The pyramid scheme is an avenue for people with limited/ to no investing acumen to try and make a couple of bob however those at the top of the pyramid are a whole lot more savy - buying new John Deeres with their riches falling from the sky.
Whether it happened in Dunmanway or Dublin it is a reflection of people wanting to get rich fast - but trouble is a brewing, and boy will it brew when word gets out just how much a select few gained from this farce in a sophisicated Ireland.
Time will tell…..
April 16th, 2006 at 20:17 pm
Oh Dropkick - if people want to throw away their cash, good luck to them. If nothing else it gets this sleepy town in the media spotlight. Now Dumanway and go back and take a nap for another 10 years……….never seems to be any positive news coming from this great Gatsby stronghold.