Snake Oil Salesmen of Yore tricked countless unsuspected customers into buying useless products. Though the wares have changed, the tactic remains. Here are some of the new “snake oils” modern-day hucksters are pushing.
Essential Oils
It’s all still oil. Snake oil is out; essential oils are in. Some folks claim essential oils can do everything, from helping you lose weight to curing cancer.
Essential oils smell good. Some might have calming effects or help relieve stress. But they aren’t magic cure-alls for every ailment.
Weight Loss Supplements
No magic pill will help you lose weight. Most weight loss supplements aren’t regulated and don’t have to work the way they claim to. That’s good for the manufacturer because they typically don’t.
Homeopathy
Homeopathy claims that if you dissolve a substance in water, the water carries that memory. The idea that water has a memory you can adjust to make it work wonders in your life conveniently ignores water’s long history.
If water has memory, you can rest assured it’s seen some wild stuff.
Male Enhancement Pills
Nearly every gas station has a grungy-looking stack of enhancement pills. They make outlandish claims designed to target men’s biggest insecurity.
They don’t do anything; they’re just a waste of money.
Crystal Healing
Gems can aid in meditation, but they can’t cure illness. The hype about the healing powers of certain gemstones isn’t grounded in science.
That’s not to say there’s no room for crystals. They’re a crucial component of many spiritual practices. People need to learn the difference between spiritual practices and science.
Get Rich Quick
Everyone’s looking to make a quick buck. The get-rich-quick schemes are ever-evolving, but the central concept remains the same: buy this program, and you, too, can be rich!
Over time, it’s been real estate, pyramid schemes, and crypto scams, but the commonality is most people lose money.
Chiropractic
Some insist their chiropractic makes them feel better, but others aren’t convinced. Many call chiropractors fake doctors, and at least one woman became paralyzed after a chiropractic visit.
NFTs
Are NFTs the future of art? They were all the rage a few years ago, but now they just seem scammy. Why would you want to own a digital copy of an artwork when you can own and display the physical painting instead?
Crypto
Cryptocurrency was supposed to change the financial world. However, most soon learned the dangers inherent in unregulated currency.
Some still get rich trading crypto, but far more have lost fortunes. Crypto may eventually have a place in the world, but most people who push it are scammers.
Andrew Tate’s Business School
Andrew Tate epitomizes a modern-day snake oil salesman. His “business school” claims to teach men how to get ahead, but it’s all misogynistic nonsense that hinders men’s chances of success if implemented.
It’s all by design though, so they go back and buy even more of his garbage.
Influencers
If the above products are snake oil, influencers are the salesman. Though many influencers refuse to engage with nonsense products and only promote things they genuinely believe in, a subset will hawk anything to make a quick buck.
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Melanie launched Partners in Fire in 2017 to document her quest for financial independence with a mix of finance, fun, and solving the world’s problems. She’s self educated in personal finance and passionate about fighting systematic problems that prevent others from achieving their own financial goals. She also loves travel, anthropology, gaming and her cats.