A term used in business journalism to describe investors whose sole aim is – to make a profit as quickly as possible, and – to do so, as a rule, using practices that are not customary on the financial market. – Dishonest providers of financial services who approach potential investors mainly from offshore financial centers via cold calling and e-mails, more rarely by (preserving of evidence) letters, in order to offer them mainly dingo values and insurance contracts. As a rule, value designations in contracts concluded as a result are expressed in “dollars”. What is meant, however, is not the USD, but usually the BBD (Barbados dollar), which has at most half the purchasing power, if not the almost worthless GYD (Guyana dollar) or ZWD (Zimbabwe dollar). – But because the contracts are made out to the places in question – such as Bridgetown, Barbados; Georgetown, Guyana; Harare, Zimbabwe – legal action is futile. Estimates for the U.S. in 2005 were that up to ten percent of financial services provided were done so fraudulently, with a very large amount of loss. – In terms of legal policy, financial vultures bring almost insoluble difficulties, because aggrieved investors join forces via the Internet and recruit avenging angels who track down the financial vulture, burn down his house or even go after his life and limb. – A list from 2007 lists 536 dishonest providers, usually with illustrious names. – See rip-off, agiotage, stock exchange usury, steam room, representation currency, daimonion, darkrooming, deuteroscopy, domicile obfuscation, finance, financial forums, financial garbage, frontrunning, money suckers, glamour stocks, foundation swindle, International Business Company, Internet bidding, cold calling, plain speaking, loan sharking, makeup, market abuse, misochrematics, nonvaleurs, pump and dump, avenging angels, rebbes, risk-return principle, snake trading, schmoozing, super profit, Twitter, consumer complaints, tangibility, angle brokers, lemon trading.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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