Common Scams happpening in India, list the ones you may know

Mr.J said:
Isn't Kimberly certificate has very narrow definition of blood diamond or conflict-free diamond?
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Yup, They have found ways around it but I am pretty sure many Indians have never heard of kimberly certificate. Atleast it will introduce them to the concept of conflict diamonds.

Actually, when I first saw that blood diamond documentary suggested by my friend. I promised myself that I would never buy diamonds.
 
avi said:
^placebo effect.
links for the curious:
http://www.howdoeshomeopathywork.com/
http://www.thelancet.com/journals/lancet/article/PIIS0140673607617061/fulltext
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gauravH said:
Sadly, all of you guys who perceive LIC/ULIPs to be scams were actually taken for a ride by their agents. I still don't consider LIC/ULIP themselves to be a scam:
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A lot of you made the mistake to not understand the policies but at least don't brand LIC and ULIPs as scams... it's always the human-factor to be blamed - either you or the agents. :dead:
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@gauravH:
here's a link to a police case now:
http://www.livemint.com/Money/57wQlkkdLuC8GvifojfdMK/How-to-shrink-50000-to-248.html

Also, since you claim to have made money off it, I request you to share your actuals of
a) UNITS purchased
b) NAV increase
c) Charges on your ULIP units/nav
d) issuer & plan details so I can too check this
 
^^ ICICI guys took away the whole booklet along with the initial offer letter when i surrendered the policy. so, i can't post all the details here but i must have kept their six-monthly letters which might give some details about the value of NAVs at that point of time.

b) don't have those details now. i was tracking it (and other equities) at a minute level but had to stop it as i got overwhelmed with the amount of data collected. but i can find out the intimation letter regarding the change from 'balancer' plan to 'maximizer', which ensured higher returns (but with more risk).
c) ICICI: it was Rs 2000 only, charged along with the 1st premium.
d) ICICI prudential and Canara Robeco. i'll find out the details about ICICI from the letters that i might have. you'll have to wait for 6 months to know about the details of Canara, as all the documents are locked up somewhere.
 
booo said:
again... in scientific terms, carbon is an abundant element in nature, how come diamonds are rare?
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the videos might be true, Might be not. I am sure if this would be true, somebody must have blown whistle. If america can get exposed, so can de beers. The logic that carbon is abundant so diamonds are also abundant is flawed. Diamonds are a form of carbon which forms when carbon is subject to high pressure and temperature for extended periods of time. The efforts needed to detect and take them out is a totally different thing. A similar example i think of is Oxygen and ozone. former is O2 later is O3, both are oxygen, but their form is different and that is what makes O3 rare
 
I think earth has a diamond crust surrounding the core. Not touching it but somewhere halfway between the core. Few thousand km of diamond crust is not rare imo.
I saw it in some discovery or ngc documentary. I think it was called "Journey to center of the earth" or something similar. Some drill type vehicle drills from earths outer crust to the core.
In-between it comes across this diamond crust layer.
Show keeps getting repeated every few months so you should be able to catch it in TV.

Edit: link to some article I found.
http://geology.about.com/od/mantle/a/The-Diamond-Zone.htm
 
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vaibhavyagnik said:
the videos might be true, Might be not. I am sure if this would be true, somebody must have blown whistle. If america can get exposed, so can de beers. The logic that carbon is abundant so diamonds are also abundant is flawed. Diamonds are a form of carbon which forms when carbon is subject to high pressure and temperature for extended periods of time. The efforts needed to detect and take them out is a totally different thing. A similar example i think of is Oxygen and ozone. former is O2 later is O3, both are oxygen, but their form is different and that is what makes O3 rare
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