The 8,000 Year History Of Scams
How History Works・17 minutes read
Scammers use various tactics, from street cons to investment schemes, preying on people's desire for quick gains despite the availability of information. Historical examples like Charles Ponzi and Bernie Madoff illustrate how charismatic tricksters continue to deceive vulnerable targets with promises that are too good to be true.
Insights
- Scammers throughout history have utilized a variety of tactics, from pickpocketing to elaborate schemes like the three-card Monty, exploiting the vulnerability of individuals seeking quick gains.
- Notable historical figures like Mary Frith and Victor Lustig exemplify the audacity and creativity scammers employ, demonstrating the enduring allure of deception and manipulation in various forms, from street cons to sophisticated financial frauds.
Get key ideas from YouTube videos. It’s free
Recent questions
What are some common justifications used by con artists?
Con artists often justify their actions with cheeky mottos like "it's immoral to let a sucker keep his money." This mentality allows them to rationalize their deceitful behavior and manipulate their victims into falling for their scams.
How do scams evolve from street crimes to elaborate schemes?
Street cons, like pickpocketing, evolve into more elaborate schemes like the three-card Monty and shell game. These sophisticated scams require showmanship and manipulation, as con artists adapt their tactics to deceive unsuspecting individuals and maximize their profits.
What historical figures are known for perpetrating scams?
Historical figures like Mary Frith, a famous pickpocket from 16th century London, and Victor Lustig, who sold the Eiffel Tower twice, are known for perpetrating scams. These individuals defied societal norms and went to great lengths to deceive others for personal gain, leaving a lasting legacy in the history of scams.
How do scams exploit the allure of quick wins?
Despite the era of information overload, people remain vulnerable to scams due to the allure of quick wins. Con artists prey on individuals' desires for easy money and promises of dreams coming true, manipulating their emotions and clouding their judgment to facilitate their deceptive schemes.
What are some common characteristics of scams throughout history?
The psychology behind scams remains timeless, focusing on charismatic tricksters, vulnerable targets, and promises of dreams coming true. From ancient times to modern-day frauds, scams exploit human nature and societal vulnerabilities to perpetrate deceitful acts for personal gain.
Related videos
Mark Rober
Glitterbomb Trap Catches Phone Scammer (who gets arrested)
BBC World Service
The Billion Dollar Scam - BBC World Service Documentaries
WatchMojo.com
Top 10 Misleading Marketing Tactics
TEDx Talks
The Superpower of the Conman | Alexis Conran | TEDxBerlin
ColdFusion
How This 31 Year Old Woman Scammed JP Morgan
Summary
00:00
"Deception through the ages: scams and cons"
- Con artists justify their actions with cheeky mottos like "it's immoral to let a sucker keep his money."
- Scams range from religious cult leaders swindling followers to street urchins executing three-card Monty flawlessly.
- Despite the era of information overload, people remain vulnerable to scams due to the allure of quick wins.
- The psychology behind scams remains timeless, focusing on charismatic tricksters, vulnerable targets, and promises of dreams coming true.
- Street crime, like pickpocketing, is a staple scam, with pickpockets honing their skills since ancient times.
- Mary Frith, a famous pickpocket from 16th century London, defied societal norms by cross-dressing and cutting purse strings.
- Street cons evolve into more elaborate schemes like the three-card Monty and shell game, requiring showmanship and manipulation.
- Counterfeiting dates back to ancient Rome, with forgers adapting to advanced systems by faking valuable items like decrees and art.
- Real estate scams, like Victor Lustig selling the Eiffel Tower twice, showcase the lengths scammers go to deceive.
- Spiritual deception, from ancient oracles to modern-day mediums, has evolved into pyramid schemes and religious frauds like Jim Bakker.
12:34
Historical Investment Scams and Their Downfalls
- Rasputin, a Russian mystic, gained fame for his alleged healing and prophetic abilities, as well as his reputation in the bedroom, but is now viewed as a manipulative charlatan by historians.
- Investment scams have a long history, with Thomas Tusser's quote from 1557 highlighting how easily people can be deceived, as seen in ancient Egypt where mercenaries devised a fake ransom scheme to swindle the Pharaoh.
- Charles Ponzi's scheme in the 1920s involved promising high returns on investments using new investors' money to pay off earlier ones, ultimately leading to a collapse despite initial success.
- Bernie Madoff orchestrated the largest Ponzi scheme in history, defrauding $65 billion from clients like Steven Spielberg and Kevin Bacon, until his downfall during the 2008 financial crisis when his own sons exposed his fraudulent business practices.
