Beware of Pretty Girls Selling Gold

Beware of Pretty Girls Selling Gold from Schiff Gold

Every other day or so, I get Facebook friend requests from beautiful women. I would like to think it’s because of my handsome face and insightful commentary on why taxation is theft. But I’m pretty certain that’s not what’s going on here.

Nope. The ugly truth is that these are fake accounts trolling for – well I’m not exactly sure what they’re trolling for. I am quick on the delete button when profiles of “women” with no friends in common, no information about themselves on their profile, and no posts other than a few photos, pop up on that friend request list. So, I’m a little in the dark on the specifics of the game they’re playing, but I’m certain that it is likely something that, if taken to its conclusion, would lighten my wallet and likely damage my pride.

Or maybe porn.

Yeah. Probably porn.

But the scam angle is pretty likely too. I’d say it’s probably a 60-40 shot. Porn or scam.

Before I met my wife, I delved into the world of online dating. There are a lot of scammers there too. Go to sites like Match.com or Yahoo Personals and you’ll find beautiful women from exotic places longing to be your forever love. It’s a dream come true!

Until it’s not.

I’ve read a lot of stories about that dream turning into a nightmare when the buxom beauty starts asking for money.

I shouldn’t have to say this, but you shouldn’t send money to strangers. They are scamming you. There is exactly zero chance that this person is on the up-and-up.  I don’t care how hot her photos are. She’s taking you to the cleaners.

But apparently, a lot of guys are willing to pony up. I mean, it’s hard to say no to a beautiful woman, right?

But seriously – and this is just a little free advice – when some chick you’ve never met in person asks you for cash, say no. In fact, say, “Hell no!” and then run as fast as your legs can carry you. It’s a scam. I promise. That picture she sent you — that’s not the person behind the keyboard. It’s actually a fat, sweaty, hairy Russian dude named Alexi. You really don’t want to give Alexi your money, now do you?

I was perusing the Google for gold news earlier this week when I ran across a story from about a year ago that puts a new twist on pretty girl scams. Apparently, police broke up a gold scam ring in Hong Kong that was using beautiful women to suck their victims in. According to a report in the South China Morning Post, the setup netted scammers well over $2 million.

This once again proves that nothing loosens a man’s wallet faster than a pretty face.

According to police, a well-organized syndicate hired young, attractive girls, and disguised them as “star financial consultants” to fish for victims on social media.

“The girls then sweet-talked the men into paying to trade gold on the London market with low risks but high returns. Some even promised to develop love relationships.”

Here’s another reality shovel to the side of your head. Low risk-high returns isn’t really a thing. You get high returns for taking big risks. When you do the safe thing, you generally get modest returns. So, when anybody – and this includes hot girls from the internet – tells you that they have a low risk-high return proposition for you, beware!

Here’s another quote from police.

Some victims hadn’t even met the so-called financial stars before they agreed to open accounts, signed documents to authorize brokers to trade on their behalf and passed the account password to the girls.”

OK. I have to say it. That was dumb. Just dumb. I mean, I kind of feel sorry for the guys, because you never want to see people taken advantage of. But, come on, man!

So – what have we learned here?

Beware of pretty girls you meet on Facebook selling gold.

If you want to buy gold, I suggest calling a SchiffGold precious metals specialist. I can’t promise you that they’re pretty, but I can promise that they won’t scam you. Just call 1-888-GOLD-160.

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Peter Schiff

Mr. Schiff began his investment career as a financial consultant with Shearson Lehman Brothers, after having earned a degree in finance and accounting from U.C. Berkeley in 1987. A financial professional for more than twenty years, he joined Euro Pacific in 1996 and served as its President until December 2010, when he became CEO. An expert on money, economic theory, and international investing, he is a highly sought after speaker at conferences and symposia around the world. He served as an economic advisor to the 2008 Ron Paul presidential campaign and ran unsuccessfully for the U.S. Senate in Connecticut in 2010.