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Meehn! See as MMM dey oppress Nigerian Senate

From which money?

These people are a joke. I advice people to quit while they are ahead. Where they get you is greed. You cannot keep making money on money that is not invested. Invested money does not even earn return over 10% except you somehow find insider information or you are lucky. Only money that is invested yield's returns. This MMM is a money doubler's trick of greed and deception

This MMM scheme is only shuffling money around, and they are building the trust of their victims. Soon enough foolish people will start borrowing money to make money from MMM. When the scammers see that they have gotten to a certain level, it will crash and all that money will disappear. All the people needing help on that forum how are you so sure they are real people? Real Ponzi scammers don't scam immediately. They gain your trust and wait for the day you bring all your savings, and fiam! Never trust anything without physical investments that you can even see.

baby124:
These people are a joke. I advice people to quit while they are ahead. Where they get you is greed. You cannot keep making money on money that is not invested. Invested money does not even earn return over 10% except you somehow find insider information or you are lucky. Only money that is invested yield's returns. This MMM is a money doubler's trick of greed and deception

This MMM scheme is only shuffling money around, and they are building the trust of their victims. Soon enough foolish people will start borrowing money to make money from MMM. When the scammers see that they have gotten to a certain level, it will crash and all that money will disappear. All the people needing help on that forum how are you so sure they are real people? Real Ponzi scammers don't scam immediately. They gain your trust and wait for the day you bring all your savings, and fiam! Never trust anything without physical investments that you can even see.

All investors are fully aware of these points. Any money invested should naturally and ideally yield good interests. The only reason you don't get anything on savings with your bank is that your interest has been spent on Bankers' salary, Air Conditioners, Suit and Brand new Toyota Corolla.

Acidosis:


All investors are fully aware of these points. Any money invested should naturally and ideally yield good interests. The only reason you don't get anything on savings with your bank is that your interest has been spent on Bankers' salary, Air Conditioners, Suit and Brand new Toyota Corolla.

That's not true. The fees for maintaining your accounts go to paying salaries of bankers. That is how financial institutions make their money. Returns on money invested either in a stock or bond is public information.

baby124:

That's not true. The fees for maintaining your accounts go to paying salaries of bankers. That is how financial institutions make their money. Returns on money invested either in a stock or bond is public information.

So why don't I get the yields on monies invested on bonds and stock on my behalf?

Banks really need to work on their games. The average Nigerian do not benefit from the profits. All we see is show off, luxury cars, etc. The only benefit I get from my bank is the air conditioner on days I have a transaction to make in the hall. Every other day, I use my phone and ATM (these services aren't free) in spite the heavy profits.

I encourage all struggling and average Nigerians to make judicious use of their monies. Even if you won't do MMM, join a cooperative - some cooperatives do AGM, they pay certain interests at the end of every year. If you have a steady savings of a million naira with a cooperative society, you cannot get below N100k at the end of the year. Reason is because your money was given to others in the form of loan and they paid substantial interest on such monies.

While a cooperative will encourage you by paying some benefits, a bank would rather buy a brand new corolla for a staff for investing people's monies.

Unlike banks, cooperatives allow you to save, borrow, and you're paid some benefits on the basis of your savings. So what exactly do banks stand for?

Truth is if all customers decide to withdraw their money, banks will equally crash like any other ponzi scheme. Will all customers withdraw their money at the same time? The answer is no, all things being equal.

Government should simply come in and regulate the virtual financial institution and money making scheme.

If MMM decides to build physical infrastructures everywhere with billions of dollars (like banks do), there wouldn't be any 30% interest to pay anymore.

If Google had not introduced AdSense, many will not believe that internet users can make money by surfing and browsing. So technically, someone like Seun ought to pay me for every post I make on Nairaland.

MMM is like bank but doesnt spend money in paying staff salary, buying land and cars and maintaining them. All these increases the interest rate of investors