InvertedHammer:
/
Do you have money in the bank?

If yes, don't laugh at MMM folks yet.

It is a matter of kettle mocking pot for being black.

Every financial system is at the risk of collapse any time of the day.

Ask Cyprus, their government confiscated 40% of depositors' funds a few years ago.

MMM and traditional banks are both financial risks of different magnitudes.
\

Bt @ least bank deposits r insured by d NDIC, which mean s dt even if d bank building burns down, u wld still get ur money.

berrystunn:


All the banks that have collapsed are they not real ventures.? You are too dull? I have knowledge on Global Finance, on how the global financial system works which indeed is a pyramid scheme (scam) with the Federal Reserve Bank being at the top of that pyramid. Stop being a dullard and reason differently for once..
Banks run the biggest scam,

Are you aware of how mark Zuckerberg makes through Facebook? You are posting on this forum; are you aware that nairaland is becoming a billionaire through you and me? How do you think ordinary bloggers get rich? Sergie Mavrodi   is a mathematician and software developer running one of the finest monetised website systems in the world. Mind you,   it is not even about the 30 percent. It’s about financial revolution, breaching the financial gap between the rich and the poor. You have been Facebooking for years and never benefited financially from it but Facebook benefits financially from you.   MMM is based on 2 Corinthians 8:13-14 – Of course, I don’t mean your giving should make life easy for others and hard for yourselves. I only mean that there should be some equality. Right now you have plenty and can help those who are in need. Later, they will have plenty and can share with you when you need it. In this way, things will be equal.”

Did the Russian receive anybody’s money? can’t you understand that the system is a revolving system, so long as every member will not withdraw their money the same day and new members keep joining, the system will not collapse. Which bank or insurance company can survive if all depositors want their money on the same day and no new funds deposited? These guys have created a system which banks can somehow copy from and enhance liquidity   instead of being envious.”

Banks (scam) made alot of profits, through MMM participate, transaction, change 4Naira, 3times for one transaction alert. Participate did not care.


Nigeria government will understand why people are not against them in this hardship.

Deres a Latin saying translated 2 somtn lyk "who wld watch d watchmen?". Hw r u sure dt u r nt PH 2 a front 4 D so called 'guiders'? Who matches u wt d person dt u pH 2? Who regulates him 2 make sure dt dere is no monkey business? I doubt u hv a satisfactory ansa 2 dt question. Do u know dt come 14th Jan, dere wld b a huge deluge of pple trying 2 GH as pple unable 2 GH ds Xmas & pple dt PH (@ d interest rate of 50%)ds Dec wld wnt 2 GH? Wldnt dt crash d system? Or perhaps ds is a calculated move by d originators of d scam 2 covertly implode it & leave smiling 2 d bank quietly, while blaming d govt 4 creating panic & destroying d system? As if freezing GH hasn't created enuf panic & suspicion of D scheme (or rather scam). Anybody who is smiling @ his rising mavros is celebrating prematurely cos he's getting money only on paper scratch dt on a computer screen (@ least paper can b tendered as evidence in court). Perhaps a few wld get settled just 2 keep an appearance of innocence bt I bet dt if thorough forensic accounting is applied, somtn rotten wld be found in Denmark. A system dt can't be regulated by a higher system is prone 2 go rogue.

kushe:
@ berrystunn
I just feel imnense sadness on behalf of your self acclaimed intellect. Go and find legitimate work and if you have, work hard and look for existing gaps and needs you can meet. You guys ranting in support of mmm are just like the crowd that refused to go home when the stock market crashed in 1929. It was reported that there was a constant humm in the air, the sound of thousands of desperate investors all seeking answers at the same time. It starts with stunning bewilderment, followed by denial and rationalization. I laugh at the so called mavrodians calming frayed nerves. U dey the board meeting when una decide to freeze the shitty thing? I told someone on sunday that mmm could not enter February, I was so wrong, the thing did not even have legs that could carry it till christmas.' Mavrodians ', what a joke. Go and work all of you, daydreaming and scheme chasing will not get Nigeria out of recession.

Tahh go and sleep work for who?? Am a business man
All business has is own risk... The end is win or lose

Ask if I made profit from MMM? I started with 300k, January 21th 2016, I made profit of 2.4m.

I was Waiting for 600k mavro, this week, before the news.... But I gat noting to lose...

Next business please....



Export business going on now... Join today and get paid.

Stop working your asss out for someone else just for little pay...

berrystunn:


Tahh go and sleep work for who?? Am a business man
All business has is own risk... The end is win or lose

Ask if I made profit from MMM? I started with 300k, January 21th 2016, I made profit of 2.4m.

I was Waiting for 600k mavro, this week, before the news.... But I gat noting to lose...

Next business please....



Export business going on now... Join today and get paid.

Stop working your asss out for someone else just for little pay...

I think MMM will survive this January too....

gemale:

Bt @ least bank deposits r insured by d NDIC, which mean s dt even if d bank building burns down, u wld still get ur money.

/
NDIC insurance is what they use to calm nerves of customers. NDIC will not pay you a dime if a bank collapses.
Ask ACB, CCB and Community banks' customers how much they got from NDIC after the banks collapsed.
\

read that story before but not like this

Perfect description

gemale:

The Monkey Money Madness! (MMM)
Once upon a time in a village, a man appeared and announced that he would buy monkeys for N100 each. The villagers seeing that there were so many monkeys around, went out to the forest and started catching them.
The man bought thousands at N100 and as supply started to diminish, the villagers stopped their efforts. He further announced that he would now buy at N200. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished and people started going back to their farms. The offer rate increased to N250 but the supply of monkeys became so little that it took much effort to even see a monkey, let alone catch one.
The man now announced that he would buy monkeys at N500! However, since he had to go to the city on some business, his assistant would now buy on his behalf.
In the absence of the man, his assistant told the villagers: ''Look at all these monkeys in the big cage that my OGA has bought from you, I will sell them to you at N350 and when my OGA returns from the city, you can sell it to him at N500''.
The villagers squeezed out all their HARD EARNED savings and bought all the monkeys. The most greedy ones among them even sold their lands to purchase many MONKEYS, hoping to make a huge profit without labor.
Then...
They never saw the man or his assistant. Only monkeys everywhere!
Welcome to #MMM.

InvertedHammer:

/
NDIC insurance is what they use to calm nerves of customers. NDIC will not pay you a dime if a bank collapses.
Ask ACB, CCB and Community banks' customers how much they got from NDIC after the banks collapsed.
\

I should ask you if those banks followed due process, had the capital or even insured with NDIC?

Collapse and insufficient capital is why banks were merged 20B cap I think

InvertedHammer:

/
NDIC insurance is what they use to calm nerves of customers. NDIC will not pay you a dime if a bank collapses.
Ask ACB, CCB and Community banks' customers how much they got from NDIC after the banks collapsed.
\

Dey weren't insured. Banking then wasn't as regulated as it is nw. U r tlkn abt d days b4 d 25 billion recapitalization criterion was enforced by CBN.

GMBuhari:


I should ask you if those banks followed due process, had the capital or even insured with NDIC?

Collapse and insufficient capital is why banks were merged 20B cap I think

Every money you deposit belongs to the bank. They issue you I.O.U against the fund.

Any government can confiscate her citizens' money at any time. In Cyprus, the government seized 40% of depositors' funds.

Go and read full Nigeria Banking laws.

gemale:

Dey weren't insured. Banking then wasn't as regulated as it is nw. U r tlkn abt d days b4 d 25 billion recapitalization criterion was enforced by CBN.

/
Don't forget that banks operate on Fractional Reserve banking. That is why banks place limit on withdrawals. To withdraw a certain amount from the bank, a depositor will need to give advance notice to the bank because the funds have to be put together.

And when a bank collapses, there is a hierarchy followed in settlement. The regular customers may have to wait a lifetime to get that
NDIC insurance payment. Legally, banks are not mandated to give advance notice before collapsing. Some things look good on papers.
What is pension plan in Nigeria? It is an insurance against old age. Sort of. Right? Well, pensioners have learned that it is not always
as rosy as it appears on papers. The same goes for a systemic collapse of the banking industry.

Don't forget that banks are loaning out money that they don't have. A bank that has N1000 in its account can write a loan for N10,000.
Once you understand how banks work, you will learn how to secure your investments. Nigerians call them serial debtors, but those
Nigerian billionaires that owe billions to the banks and their lawyers understand the concept of banking better than the average Joe depositor
out there.

For example, after Hurricane Katrina in Florida, insurance companies refused to pay compensation to victims because they don't have
enough money to cover the costs. When pushed, they filed for bankcruptcy and that was the end. US Fed. Reserve had to step in
and crank up the money-printing machine. Remarkably, Nigeria does not have that luxury because she does not print her own currency unlike US Fed. Reserve that can crank up the printing machine any time.

\

Seun:
Thanks for taking the time to write this out for us.

NEW DIGITAL PRODUCTS WEBSITE!

join now and start making N50,000 or more
From each business center for life!

How?
BUY one info product for only N12,500
Sell it non stop to as many as you can
For the same N12,500
(but really you only have to sell to one person)

See my signature below for link
Yes.. You need to use the link join :-D
JOIN ME ON WHATSAPP TOO
THANKS