Comments by "Kevin Street" (@Kevin_Street) on "Is This A Golden Age of Fraud?" video.

Thanks for another very educational video! This one is a bit sobering, since you're looking at fraud as more of a systemic problem rather than just laughing at it. The part that really jumps out at me starts at 18:40, when you talk about how the "bezel" can be slowly eliminated by forcing other people (who often had no participation in the fraud) to pay for it. The example of the Chinese regulators is particularly disturbing. When they forced ordinary bank depositors to pay for the fraud incurred by the banks by setting deposit rates extremely low for a decade, they forced millions of people to pay for the mistakes made by a few, since the low rates meant their savings were being eroded by inflation. The people with the smallest savings effectively paid the highest price. Someone always pays when the scam is exposed and the bezel disappears. But in a just world the cost should be paid by the scammer. In a somewhat less just world the damage should be at least limited to the victims. In the least just world we all end up paying for other people's fraud.
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I think you have to go to Ireland and enroll in the university where he teaches. You might not get rich quick, but you'll definitely learn something.
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The Bezzle does make sense, since it gives a name to something we don't usually think of in definite, quantifiable terms. We know that money is lost in a con, but calling it the bezzle gives us a way of saying that this amount is transferred from the victims (and anyone else bailing them out) to the con artist, along with all the extra spending the victims made when they thought they were richer.
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