Why Chain Letters Don't Work
The Claim
Chain letters guarantee you a hefty profit for minimal efforts. By definition; chain letters are pyramid schemes. Have you ever received an unsolicited letter in the mail claiming that you can make thousands of dollars by simply participating in their chain letter scheme? The letters will usually lure the readers in with an intro about how a teenage boy made over $70,000 in a little over a month, or how an elderly woman named Betty received enough money through chain letter process to pay for her deceased husband’s funeral. Chain letters reel people in with heart wrenching and inspirational stories of triumph. If your intuition is telling you to dump the letter in the trash because the story is too good to be true, your intuition is correct. These stories are not only fictional, but they are illegitimate and if your name is ever spotted on a chain letter, you could face a hefty fine. The government considers chainmail a form of gambling, therefore it is illegal.
How it Works
Chain letters provide a short list of names and addresses. You then remove the first name on the list, and move each name a spot higher, until the last spot on the list is vacant. You then place your name in the vacant space, send the same letter you received with the specified amount of money to each person on the list and then hope that the letter is passed on to enough people that will be willing to send you money.
The Truth
Chain letters do not live up to their money-making claims for one reason; you have to place your trust and money into the hands of strangers. Most people have enough common sense to know that if they receive a chain letter in the mail, they need to throw it away. Not many people are willing to place their hard earned cash in the hands of strangers, who may or may not keep their word. Think you can only fall prey to scams and pyramid schemes through snail mail? Wrong. Scammers are now applying their fraudulent tactics towards ripping off innocent hopefuls through the internet. One of the biggest pyramid schemes on the net today is affiliate marketing.
Helpful Links
Chain Letter about 15 Year Old Boy
How to Avoid Internet Investment Scams
How to Spot an Affiliate Marketing Scam
How to Avoid Online and Offline Scams
The Red Flags of Affiliate Marketing Scams
