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MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian - Business (10) - Nairaland

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Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by adeyeye5353(m): 10:03pm On Oct 24, 2016
MMM is alternative to solve economic problem, unemployment, thousands of unemployment has take the advantage of MMM to start a business ,to married etc When someone true with NYSC govn we ask u to focus agricultural, how much loan did govn provide for each graduate after passing out. Please MMM is for real!!!!

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Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by kason(m): 10:14pm On Oct 24, 2016
adeyeye5353:
MMM is alternative to solve economic problem, unemployment, thousands of unemployment has take the advantage of MMM to start a business ,to married etc When someone true with NYSC govn we ask u to focus agricultural, how much loan did govn provide for each graduate after passing out. Please MMM is for real!!!!

U are very correct.
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by kason(m): 10:19pm On Oct 24, 2016
Government agencies should go and tackle the Naira-Dollar wahala, Nigerian Stock Exchange imbalances, Boko haram, Corruption (in judiciary, Aso rock and co), Unstable govt policies and so on; make them leave us and MMM alone.

I dey beg una bad belle people.

Join MMM for free. GET FREE EBOOK ON MMM. SEND YOUR EMAIL ADDRESS TO MY PHONE NO.

2 Likes

Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by Nobody: 10:20pm On Oct 24, 2016
mmm can't last upto 5yrs nd it will crash,bt de biggest prob is dat many folks have nw investing with greedy nd those folks it may end up eating there heads,my prayer is make mmm last for 2yrs+ b4 it gets crash.......good niggaz invest wisely to avoid heart attack(chIdubEm myown review doH)

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Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by EngrOYemi: 10:39pm On Oct 24, 2016
Nigeria Will Be Great Again. shocked
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by Sovet: 11:03pm On Oct 24, 2016
MMM: ROBBING PETER TO PAY PAUL?
That is what a lot of people against MMM are saying, including You! If not so, where is the 30% coming from? they ask.
I have news for you, if MMM’s 30% is “robbing Peter to pay Paul” then you need to stop putting your money in the bank because the 1% to 2% interest from banks is from other peoples’ deposits which according to you is “robbing Peter to pay Paul”. Do you think the bank can pay the tiniest interest if other people’s money is not involved?

What most people do not understand is that when you deposit your money in the bank, they immediately use your money in one or more of the following ways:
1. Allow another depositor to withdraw when they request to do so.
2. Give out loans to those seeking loans from the bank
3. Pay workers’ salary including bank managers, clerks, marketers, cashiers, tellers, cleaners, security guards etc.
4. Buy equipments needed for smooth operations like generator, computer systems, communication gadgets etc.
5. Sponsor the expensive lifestyles of bank executives including the next trip to America or Dubai.
6. Other running costs of the bank

Just imagine! Did you know this? See what our deposits are used to accomplish! Now, for the privilege of using our deposits in the above ways, the bank rewards us with 1% or 2% interest (up to 6% if fixed deposit) provided the money stays with them for over a month. Imagine! Just 2% after all that!

Consider this; you deposit 100k with your bank and after 2 weeks you return to withdraw the entire 100k. Question is do you think it is your actual 100k they gave you? NO! Your actual deposit has already been used in one or more of the ways mentioned above and the 100k they give you is because of fresh deposits the bank recently received. If you look closely, you will realize that banks can pay more interest than they give, but that means sacrificing the expensive lifestyle of the bank executives. Why will they cancel that next trip to Dubai because of you? Think.

However, in MMM the ONLY thing your money is used for is paying another participant due for payment directly, no middleman. There are no salaries to pay, no running costs, nobody collecting loans, no bank executive’s expensive lifestyle to support. So you can see that MMM can conveniently offer 30% rewards for your willing and generous donations to fellow participants. Therefore, whether 2% or 30% interest it all comes from the same source: other people’s money (OPM).

Now let’s talk about insurance companies. I believe they are the epitome of the so called “robbing Peter to pay Paul” allegation. How does insurance work? Suppose you insure your property against fire for 2 million naira and they charge you a monthly premium of 20k. You faithfully pay your monthly premiums without fail, and then on the 6th month the unexpected happens, fire guts your property! After the usual investigation, the insurance company is satisfied you have a genuine claim, they pay you 2 million naira. The question is where did the 2million naira come from? Your personal payment is only 120k, so how come 2million naira? Well, the 2 million is from other premium payments to the insurance company by other participants. Imagine what will happen if everyone on insurance with a particular company all have genuine claims at the same time? They cannot cope! In any case, the payment is from other people’s premium payment, which according to some (maybe you) is “robbing Peter to pay Paul”.

If your eyes have been opened to the fact that whether 2% or 30%, they come from the same source and you realize that 30% is way better than 2% join mmm now.

If however you are still convinced the whole thing is “robbing Peter to pay Paul” I will suggest you withdraw all your money from the bank, cancel all your insurance (including your National Health Insurance Scheme) and keep your money under your bed, in your pillow/pillowcase or dig a hole in your backyard to keep your money. That is the only way you won’t participate in this “robbing Peter to pay Paul” business. But your money cannot grow that way whether 2% or 30%.

If you realize that 2% or -2% is too small and will like to enjoy 30% growth instead, register on mmm for free and let us grow at the rate of 30% per month without greed or selfishness, but willingly helping one another to escape into financial freedom. You will be added to our Whatsapp group and given appropriate guidance to maximize this opportunity.

Together we can change the world.:http:// /? i=joguche97@yahoo.com(Registration to register : MMM Federal Republic of Nigeria - Official Websitem.

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Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by noziz(m): 11:16pm On Oct 24, 2016
Which kind textbook be fis na. Make una nor dey do like dis o!#!
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by silversonuc(m): 11:31pm On Oct 24, 2016
[quote author=SweetJoystick post=50468262]
Yes it pays for now, who knows when it will crash? My friends gf invested 400k, she has made 1m. She is still investing to get more, that's the greed that was spoken about in the write up. People will say they will pull out capital and only invest returns back into the scheme. It's easier said than done. With an almost guaranteed returns, they end up investing all they have gained, their capital and sometimes new funds into the scheme. Truth is that I rather put my money on football matches because I have this belief the day I invest in MMM, na that month it will crash
face betting den, dnt coman crash our mmm with ya mney wey dem swaer for
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by Davindal(m): 11:33pm On Oct 24, 2016
Cowards still shouting “Ego soon crash, ego soon crash” while the brave keep making cool cash month after month.

Guys, I just cashed out N260k(a gain of N60k) today, after I offered and PH with N200k. My fellow maga participants payed me today(after I requested to GH). MMM rocks mehn. I will provide another N200k help tomorrow on this my first account, and N100k on the second account when my GH matures on that one matures on Tuesday next week.

Nigerian Security and Exchange Commission(SEC), the CBN, and the government should go and die for all I care.

Abegii three GBOZAS and a big shout out to my guy, MAVRODI. The economic and finance tactical magician 1 of RUSSIA.
Sir I salute you. You too mush(much). I wish you long life and many more financial freedom ideas to liberate mankind from slavery and poverty. In fact, you 3mush(much).

That is why I love Russians aka The Ruskies. Them brainy die.

1 Like

Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by bbbabes(f): 11:41pm On Oct 24, 2016
These people should just leave us alone. Even if MMM crashes, A. lot of us have discovered other schemes just like MMM and others will spring up in later years... we are never gonna be poor again till death

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Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by silversonuc(m): 11:49pm On Oct 24, 2016
adconline:

This is a Ponzi scheme! This is a scam. It's going to run out of money when no new members are recruited. Let's have this discussion in 6-12months from now?


he might hv achieved all he needs to achieve frm d sxheme in dt 6 to 12mnths bro
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by mukthar2000(m): 11:57pm On Oct 24, 2016
Useless SEC so u are tring to rubbish MMM abi, u better allow Mavrodi to change Niger and let use foget about APC change.
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by firfinch101(m): 11:59pm On Oct 24, 2016
One thing that fascinated me as I read the stories was that, ever since they started business, people are always buying into their ideas. From computer hardwares, to stocks, to MMM. In one of the stories -when they offered stocks- it was said that they lost count of money because the money was so plenty that they started counting in roomfulls. I joined last week, I must make my own too. grin ;d

jist2day:

why have the government failed to mention they removed not less than 17 trucks of money,real cash from mmm office. In all the government sponsored reports I've read non have ever mentioned it. Because they that the people know the truth. The real culprits here, the criminals are the government and those in the stocks and financial system.
The people of Russia have always known the truth that is why they massively voted for Sergey Marvrodi.
If he had wanted to be the President it would have been easy for him.
mmm is a revolution that threaten the fraudulent financial system of the world.

1 Like

Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by dustar: 11:59pm On Oct 24, 2016
If only u dedicated dis energy on MMM, u wud hv bin a guider now..talking trash. #NoGutsNoGlory...started with 15k now am receiving 52k in 2months.. lukin for more referers..I hope u know all dis politicians talking trash are also waiting for dia Returns..dey r de ones contributing millions
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by silversonuc(m): 12:14am On Oct 25, 2016
dimeji1:
I started with N20k 3months ago now have 400k....use your spare money that is what we preach.
Don't go and borrow. send your phone number to dimeegy@yahoo.com.. to add u to our whatsapp group...

oga hw did 20k gv u 400 in 3mnths
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by delerx(m): 12:35am On Oct 25, 2016
No mind them
Sunkyphil:
Abeg make guardian go sidon one place no some people carry 786million naira run comot naija
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by delerx(m): 12:50am On Oct 25, 2016
Abeg Bros no invest in mmm so Tht it will not crash but u fit crash ur paper house.who cares
SweetJoystick:

Yes it pays for now, who knows when it will crash? My friends gf invested 400k, she has made 1m. She is still investing to get more, that's the greed that was spoken about in the write up. People will say they will pull out capital and only invest returns back into the scheme. It's easier said than done. With an almost guaranteed returns, they end up investing all they have gained, their capital and sometimes new funds into the scheme. Truth is that I rather put my money on football matches because I have this belief the day I invest in MMM, na that month e go crash.
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by odimbannamdi(m): 12:56am On Oct 25, 2016
Zedoo:


Its quite interesting that people don't realize the danger of free money...
MMM should be done with spare money....in other words you should have another real business you do...
Naija people dun carry am for head.
Everybody around me dey do MMM yet the money ends up spent aimlessly....90% of the time....
My own take is for people to do MMM BUT BE WISE ABOUT IT and get deep into it...study whatever you are going into....dont let propaganda grab your brain by the scruff....percieve and understand the system....and be prepared at all times....
I no go like read "nairalander commits suicide as MMM crashes for front page o".....
Be wise...get more downlines, decrease your risk....
Madvrodi did not come to Nigeria to set up MMM site....these short sighted people believe in crap....
Nigerians set up MMM....

Hello sir,

I have been following your comments in this thread, and i must say how impressed i am at your disposition towards this scheme.

I really hope you dont mind if we get acquainted
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by Kennycyphers(m): 2:09am On Oct 25, 2016
MMM is a mutual aid platform, the question still remains: is it efficient? Yes it is, I had my doubts before joining but after my experiences, I wished joined earlier.. you see MMM has changed so many people's life especially the youth. . Currently I am planning on starting my on Business. I know how I went to Banks for loan.. but they kept on saying they don't give loans to start-ups,. . But right now, with MMM I have raised enough capital to kick off the idea I have in my head. I don't have to wait for the government job anymore. MMM is not an investment, rather it provides financial help for outstanding opportunities. I got curious and enrolled for MMM Guiders and I was meant to understand the real essence of MMM which is to free the general masses from financial slavery. MMM will continue to soar! ! !
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by adconline(m): 2:25am On Oct 25, 2016
lanrei:
perhaps
I'm too smart to be scammed by this.i don't need to part with my money without getting something in return-not waiting for 48hrs or 7days to get matched. The money in my bank account is real hard-earned money; the amount created on MMM website is fake and non-existing,that's why you cant cash it until u let your hard-earned money go.Even govt bonds and TBills come with certificate guaranteeing your money, but this one you get nada!!
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by guiddoti: 3:00am On Oct 25, 2016
Financial institute loosing ground with cook lies

Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by horlawaleh001(m): 4:53am On Oct 25, 2016
Zedoo:


Haha...i laugh in Spanish...i am more financially "free" than your " I want lazy money" ass.

There is a difference between common sense and "belief"....

People like you end up borrowing money and pouring it all into MMM.

Mmm is not your dad's property...

90% of the MMM participants will go back to being broke again as they have no creative ideas of what to do with money....

I encourage you not to stockpile your money, but to put it into actual businesses....you cannot MMM your way through life.

Before MMM e-money made money, dangote made money, otedola made money, you do not NEED MMM to be "RICH"....Riches come from above from he who giveth and taketh...

Last penny for your thoughts, MMM doesn't care about you, and my post is a personal opinion which you obviously read without reading my other contribution.

Only the poor "jump" at opportunities to get rich quick....in due time while your mates are learning about money and how it works, you are putting money to make 30% at the end of the month....

The wealthiest men, package and boost products and not sit idle expecting 30% at the end of the month, while borrowing to live through 31days....

Hasty builders assemble stumbling blocks....
The patient build empires and castles and not chase overnight "financial freedom" to FLASH around and let your friends know you are living large....

Just don't be caught when it crashes....
Do MMM but be wise about it....



One paragraph got to me in your post, and it made sense.
I am a participant of MMM, but I joined to raise capital for a business I have in mind but no startup funds.
I started off with a very small amount but I referred quite a number of people which has helped me raise about 60% of what I need.
I have started off with that and still observing MMM.
MMM is not to make money to show off, but if you are wise don't let greed push you to overdo.

2 Likes

Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by socialmediaman: 4:54am On Oct 25, 2016
uwa244:
The government will continue to criticize the scheme, as long as MMM did not register its operations with the NDIC in other for the govt to collect Tax from them. That does not mean MMM is fake. Am a living witness.MMM ALL THE WAY UP!

I know someone who lost about N20 Million naira in a scheme like this. Like the article said, it rewards initial investors with money from new investors, more people join in order to reap what others reaped and thats when they close up. They usually have a target money they wanna keep to themselves, then they just wake up and tell investors the scheme is no longer sustainable.

Just see the simple math. Mr A invests 100k for a 30k profit, where did the 30k come from? It came from Mr B who invested 1 million. when Mr B wants his own 30% return, the money is taken from Mr C who invested 5 million. By the time Mr C wants his money back but nobody has invested more, thats when the company calls it a day on Mr C. This is the simplest example i can give to the complex scheme. The problem is, nobody regulates them like financial institutions so they're free to do whatever they like.

Its your choice though, but you've been warned!

2 Likes

Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by horlawaleh001(m): 4:55am On Oct 25, 2016
silversonuc:


oga hw did 20k gv u 400 in 3mnths

referral bonuses definitely.
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by smsmoney(m): 5:20am On Oct 25, 2016
STOP DELETING MY POST

Need help to register email bizokoro@gmail.com .

The Guardian Economic team should rather put their heads together and advise the Government on how we will get out of the current recession. Neither Peter nor Paul is complaining cos today I will get help and after giving my wife Money to cook in the Kitchen we will relax in the living room and Chelsea will flog Man U 4-0 in the other room.
Share and like as you are led
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by rman: 5:29am On Oct 25, 2016
Nigerians are the most gullible set of people on earth.

I now understand clearly why politicians take us for fools.

We are not as smart as we think and inherently so selfish.

I am now convinced beyond reasonable doubt that MMM will crash before March 2017.

30% profit and 10% marging on referrals without product or services and majority did not see a fundamental flaw in that because they are still being paid. Unbelievable!

1 Like

Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by hemucology(m): 6:18am On Oct 25, 2016
Nig Bank acct =#20,000
End of the month balance =#19,993.58

MMM account = #20,000
End of the month balance = #26,669.35 + $24 all =#34,000.

Make a choice today.
MMM is changing lives of people, it is ready to change yours too.
Together we are changing the world.WOUNT YOU RATHER BANK WITH US?
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by jacob839(m): 6:29am On Oct 25, 2016
MMM pays
Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by Larrylarex(m): 6:34am On Oct 25, 2016
Although, I'm not into MMM and I've always being against it until a few days ago. My reason for being against it? If It's a business you must sell something, if u don't sell something, you're robbing somebody whether u like it or not. However, I told one guy who tried to introduce me to it this and his answer made sense to me: It's neither a business nor investment, you simply use your SPARE money to help others Which will make u qualify to get help as well. Now, majority of those who get help simply take their profit and reinvest their capital again, so I believe It's sustainable as even new people are joining daily. Besides, those who got help and failed to provide help gets sent out of the system, so I see no reason Why it wouldn't work. Lastly if u start with say 20k, after 30 days u get paid 34k you pocket 14 and reinvest 20 Which will give u 26k in the following 30 days. Take your 6k and provide help again. If it crashes at this stage, you're not losing anything again because you've gotten your money back already, anything you see after that is profit, so U don't really have to care after the 4th month if you are not greedy yourself. The idea is to provide help, not with the hope of getting help but for humanitarian causes, the help you even get after your thirty days is like bonus for being human and helping someone financially.
I rest my case

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Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by Nobody: 7:12am On Oct 25, 2016
news like this make people login to mmm & check their account/marvo,they will be like...'Thank God the thing still dey go ooo' grin grin

1 Like

Re: MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian by tolexy007(m): 7:14am On Oct 25, 2016
rman:
Nigerians are the most gullible set of people on earth.

I now understand clearly why politicians take us for fools.

We are not as smart as we think and inherently so selfish.

I am now convinced beyond reasonable doubt that MMM will crash before March 2017.

30% profit and 10% marging on referrals without product or services and majority did not see a fundamental flaw in that because they are still being paid. Unbelievable!
Oh! is no more this yr Dec is now March 2017, well thank God we still have more time to make some money

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