Barter World, what do you know about it?

Dave H · #1 Jan 24, '10, 1:34 pm

Hi Folks:
Lots of financial scams out there, is this one of them?
The organisation is called Barter World and they take the money you donate to them and they in turn donate to charity groups they are involved with.
Somehow these donations (because they are in different currency compared to the dollar) yield a higher return come income tax return time.
Here's an eg. donate 5000$ get back 15000 to 20000 back.
Some of my union brothers have done this, been audited by the gov't and Bob's yer uncle. No problem at all.
More importantly what does the Church teach us on ethical investments and is this ethical?
Dave H

cmscms · #2 Jan 25, '10, 6:01 pm

Never heard of it but it sounds like a scam to me. It is my understanding (and this is Canadian law) that when you give to a charity, it is so they can provide a social service and it is a GIFT ! you do not get a return on it because it is not an investment. How can you give $5000 and expect to get a tax return of $15,000. That is tripling your money ! Where would the government get the money to give you?

If it was true everyone would quit their job, give all their money to this organization and triple they cash every year!

Sounds bad

timothy bauer · #3 Feb 14, '10, 11:51 am

Caveat Emptor!!! Remember if it walks like a duck, talks like a duck, and walks like a
duck-then it is a duck!!!!

Always remember P.T. Barnum's famous saying-"There is a sucker born every minute"

Also remember Bernie Madoff and other Ponzi type scammers.

Find a legitimate charity. There are many you can research for free on the internet.

Timothy Bauer
Reno, Nevada