Paths To Knowledge (dot Science)

What is actually real in Objective Reality? How do you know? Now, prove it's real!

Scams Rely Upon Belief Systems

Posted by pwl on February 28, 2009

Since the financial market’s own version of 9/11, the collective belief in free market capitalism has taken quite a hit. Not surprisingly, the professional absurdists have shown more common sense than the business press. “The stock market’s just a consensual mass delusion based on fictitious valuing of abstract assets,” noted fictional news reporter John Oliver on The Daily Show. Yet, even now, financial advisors and business press shills are still humming the same old tune, which might as well be Journey’s Don’t Stop Believin’. No matter how bad the financial news gets, the bull market will return one day, we’re told. Two years, say some. Three years, say others – seven years on the outside. Just have faith and buy low.

The central paradox is that bull markets are turbocharged by the very thing that ultimately undermines them: herd behaviour. – Bernie, Buddha, and belief systems, Common Ground Magazine

Keep it secret, keep it safe. - Gandalf

Scams of all kinds reply upon YOUR beliefs as confidence men and women ply their trade skills emptying your wallets using what you think is real to great effect. Madoff lived by Gandalf’s words and it worked to the tune of ~50 Billion Precious Dollars!

2 Responses to “Scams Rely Upon Belief Systems”

  1. lekowitz said

    Is ignorance bliss? People think the bull market will return because of evidence; it has returned from previous recessions and depressions. I don’t understand the point of this post though. Are you saying we shouldn’t believe in capitalism? I’m not being facetious I really am interested in hearing what you are trying to say in this post.

  2. pwl said

    I’m saying that any belief system has inherent flaws when the beliefs comprising that system are not provable with evidence in objective reality but just taken on faith or with thin “evidence” of “oh this system is the best” since x,y,z has proven it.

    Typically most people – in my experience – don’t question their beliefs too much, but they sure defend them to the hilt! This is a major flaw in most people’s defenses against con men of all varieties. It let’s the masses be conned by snake oil salesman making wild health claims for their products, financial ‘investments’ with way too impressive results, invisible friends that give you immortality, anything really. The unquestioned life is under the control of belief systems installed by and mostly run by others. Programmed people walking about ripe for the plucking those looking for marks.

    Any belief system can be used against you by con artists.

    Did you read the linked article? Please do if you didn’t. It’s very interesting.

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