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Tuesday, June 28, 2011

The Mali Gold Scam

Native gold   USGS



P. T. Barnum was right there is a sucker born every minute and two to catch them.  I recently received an Email advising me that a gold miner in Mali had 2,500 kg of gold dust that was 96.6% 22k gold.  The price was ridiculous at USD $22,500. This is a good example of the old saying that if it sounds too good to be true it probably is!

How the scam works is by the miner to ask for money to refine the gold dust into bars as it is against Mali law to export gold dust.  Once the perpetrator has your money he vanishes into the woodwork of Mali with your money.

The scam works because there is always an element of greed and cupidity in most people so the best advice is look before you leap!!! 

5 comments:

  1. Excellent point John......the reason these scams DO succeed sometimes is because people yield to the temptation of greed. Anything that sounds too good to be true usually IS too good to be true.

    This article may save someone a LOT of grief and a big pile of cash too. Thanks for posting this story.

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  2. Even better yet, John, the scammers KEEP asking for more money after it is "smelted" including licenses, freight, clearance, etc. As long as the sucker keep sending big money to them, they will keep taking it...and disappear if someone happens to go visit them.

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