Chapter 82 [Sharing relatives’ LINE to cheat and play futures]

Source:https://www.facebook.com/100063294665283/posts/733748825411600/

James’ Origin and Today] Chapter 82 - [Sharing Relatives’ LINE Scam and Playing Futures] (11/14/2023)

Hello, Mr. James:

After I listened to your idea, I quickly decided to invest in 00662. My child is now over three years old, and he invested all his money in 00662. I also shared this concept with my mother, but I thought she was unlikely to listen to me, so I simply mentioned it to her and then sent her the video link.

Maybe she didn't watch the video at all, or maybe she watched it but couldn't accept it. Anyway, I later found out that she was betting and lost about NT$500,000 to 600,000. One day recently, she suddenly and urgently asked me if I could lend her 1 million, saying that she was playing futures default delivery, and if she failed to make up the money, she would be punished and could be jailed. I thought I couldn’t watch my mother go to jail...so I immediately sold NT$1 million worth of stocks. After selling the stocks, I asked her what happened. She said that she had joined a Line group and was playing in US dollar-denominated Bitcoin futures. She kept telling me that it was really not a scam. Later she told my uncle, my aunt, and her friends about it. She didn't believe my uncle and aunt when they said it was a scam. In the end, she went to report the crime after listening to her friends' advice (she had never listened to her family's advice, and only her friends' advice had a chance to make her accept it). The police told her not to send any more money. So I didn't use the money and immediately bought all 00662 the next day. It seems that it's a good thing that I didn't remit the money to my mother, otherwise the million would definitely be gone.

I know I can't change her. The question I want to ask you is, if a similar incident happens again, should I tell her that I have no money and refuse to help her? After all, I have my own family to be responsible for.

What does the teacher think about this? Thanks

James replied:

No matter if it is a friend or family member who wants to borrow money from you, you cannot help, absolutely not.

Unless you wait until they live on the streets and give them food to eat, they will eat whatever you eat.

He will be reduced to borrowing money, which means he has no concept of financial management at all. This is to let him learn on his own. Lending him money will harm him even more, making him more in debt, just like a gambler, the more he gambles, the bigger he gets! The more you borrow, the more you borrow.

Anyone borrow money from me! I always say "no money". I already owe money to the bank, so how can I lend you money? I'm the same as my brothers and sisters, I don't borrow. I also give my father a fixed amount of money every month. No matter how much my father wants, he just won't give it.

Lending money to others is the greatest harm to yourself and others. When you help her once, he will ask for it a second time. If you continue to help, one day you feel that you no longer want to lend him money, then he will not be grateful, but will hate you, and will hate you for the rest of his life. Therefore, if you lend money to others, you are harming him and yourself, and causing this person to hate you for the rest of his life. If you have money, buy index funds. Buy at any time, don't sell. 】