All’s I can say in all honest is be careful whenever you consider attending a wealth-building seminar or get rich quick event.

There’s this thing called the race for the bottom. I’d like to thank Joseph Heath and Andrew Potter for this, as their book, The Rebel Sell: Why Culture Can’t be Jammed for this insight. They explain it, saying that you’ve committed a bank robbery with an accomplice and the cops know it’s you but they can’t nail it on you. Then, one day, they find both you and your accomplice in possession of drugs, and they take you both in, to charge you and question you. They put you in separate rooms. The tell you that if you agree to testify against your accomplice as the bank robber, you will not be charged for the drug crime. You know they are making the exact same offer to your accomplice. Your choices are thus:

  1. You testify, he doesn’t. Your jail time: nil. He gets six years.
  2. You don’t testify, he doesn’t testify. One year each for possession.
  3. You testify, he testifies. Five years each for bank robbery
  4. You don’t testify, he does. You get six years, he walks out a free man.

The Cold War is another perfect example as a race for the bottom. It goes something like this:

  1. You spend money on weapons of mass destruction and your enemy doesn’t. Optimum Safety, LOW risk.
  2. You don’t spend money on weapons of mass destruction and your enemy doesn’t. Medium Safety, HIGH risk
  3. You spend money on weapons of mass destruction, and your enemy does as well. Lower Safety, Medium risk
  4. You don’t spend money on weapons of mass destruction and your enemy does. Lowest Safety, HIGH risk

Because you can’t be sure that the “enemy” isn’t spending money on the arms race, once you are in, you are in a perpetual climb. And the more you accumulate, the more times you can blow up the world, the greater the risk.

It’s what the Americans engage in with their gun ownership laws.

  1. You have a gun and the intruder doesn’t. Optimum Safety, LOW risk.
  2. You don’t have a gun and the intruder doesn’t either. Medium Safety, HIGH risk
  3. You have a gun and the intruder does as well. Lower Safety, Medium risk
  4. You don’t have a gun and the intruder does. Lowest Safety, Highest risk

It’s why we’re all climbing over ourselves to through $2,000 to $6,000 per seminar to discover “insider secret.”

  1. You seek out the insider secrets and no one else does. Optimum Wealth, LOW risk. This is when you can become a wealth-plus-spiritual guru and charge $2,000 to $6,000 per head to anyone who will come and listen to you. You are accumulating your wealth on the backs of those who desperately want the knowledge and know they can get if they only find the right secret, the proper way of the applying the Law of attraction.
  2. You don’t seek out the insider secrets and neither does the population in general. Medium Wealth, HIGH Risk. Your wealth is medium because you will continue on your career path, earning, getting annual increases, and paying off your house. Your risk is high because you have no guarantees that the Jones’s won’t be going after the secret and perhaps they’ll get rich ahead of you. They’ll borrow the money you’ve deposited at the bank, and they’ll eek the gains, not you.
  3. You seek out the insider secrets and so does anyone the population in general. Lower Wealth, HIGH risk. You wealth will actually decrease as you wind up to take a kick at this can because you will be going into debt to get these secrets (T. Harv Eker charges $20,000 for the full meal deal). Also, according to the world’s best investor, Warren Buffett, “Be fearful when others are greedy and greedy when others are fearful.” If there are sixty to 2000 people in the room, and these seminars are recurring like revolving doors, this is the time to be fearful and suspicious. Simultaneously, your risk will be high because you will not be the only game in town. There’s only so many people who can charge $2,000 per head. I learned from a sub-“teacher”, ie someone who took some of these courses, and they were charging in the hundreds. They are now in deep financial straights, and have taken down a few others along the way, your truly included.
  4. You don’t have the insider secrets but others do. Lowest Wealth , HIGH Risk.

So why the hell am I writing about this? First, to get my own head cleared on the race to the bottom. Second, because on the Cult Education Forum (link to your right) today, there’s this headline: Wealth seminar a front for Scientology recruitment, say ex-members.

The question is, how many people have to bottom out before the madness ends? Bottom out financially, or maybe even pay with a bigger price.

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This entry was posted on Sunday, November 29th, 2009 at 10:01 pm and is filed under On Wealth Seminars. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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