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CBN is just an advanced federal registered monitored MMM.

BETWEEN PONZI SCHEME AND FRACTIONAL RESERVE LENDING POLICY: A CASE FOR MMM AND OTHER MUTUAL AID (PEER-TO-PEER DONATION) SCHEMES.

I would start by saying I am an ardent student in the subject of money and currency (Yes, they aren't the same). From the creeping into America's lexicon of "war is profitable" and the severing of dollar from gold by President Nixon (that set a new standard of fiat currencies for the rest of the world), I read about and crave money devotionally. Since I love the subject of money and currency, I had to do my study into the two subjects above. This became necessary as the words "ponzi scheme" first landed on the Nigerian mainstream terrain, an event that coincided with the arrival of MMM 2011.

We hear a lot of publicity about the danger of MMM, about how it is a "ponzi scheme", they keep saying; and how it is doomed to crash. Funnily, I hear these narratives from people who are hurt first hand by the mere existence of this economic bandage from Russia, and also from people whom this scheme is designed to liberate from and assuage their poor standard of living. So I concluded that the rich and powerful are as rich and powerful because the others are lazy and ignorant. That I'm very sure of.

I digressed.

My simple litmus test to ascertain if any antic against MMM is really a decision based on knowledge and research, or simply a "masses reasoning" that exists for the rich and powerful to exploit: I try to engage people in a debate comparing fractional reserve lending legally practiced by financial institutions and the ponzi scheme of Sergei Mavrodi and other Robin Hoods. 99% of the time, they test very blue: they've never even heard of Fractional Reserve Lending, and they first heard the words "ponzi scheme" from Linda Ikeji Blog or Premium Times.

So what exactly is a ponzi scheme? And does MMM really fit as one? I am asking you!

My attempt: I'll spare you the dictionary definition. You can find that with a quick Google search. An analogy that attempts to describe it (one the authorities and other critics have used to describe MMM), because it is the least "jargonless", is simply ROBBING PETER TO PAY PAUL. But that definition falls flat in the face of mutual consent between Peter and Paul. No one is being robbed. Today Paul takes from the pool Peter also contributed into, tomorrow Peter does. Sounds more like very sophisticated "Osusu". Very sophisticated. Since I'm not an expert, pardon my non comprehensive elaboration. But I think its conciseness fits the context.

So how about Fractional Reserve Lending. It's simply a policy that allows a commercial bank to just keep a fraction of the deposit it claims to hold, and is able to use the other in other ventures that are not fully risk-proof; like give out a loan to individuals or government, invest in capital projects or whatever. In other words, Customer A takes N100k to "Second Bank of Nigeria". He gets some sort of digital receipt in the form of a balance back to his home. The law of Fractional Reserve Lending allows the bank to keep just a percentage of that N100k (usually 10%) and engage the other in trade. So Second Bank of Nigeria can then go ahead to give out N90k as loan to Customer B. So customer A has digital receipts, Customer B has N90k in hand. That is 190k in existence without any interest, without any genius from any banker, without any sweat from any marketer. Just the law.

Let's pull both concepts towards a meeting vanishing point. The concept of Ponzi Schemes and Fractional Reserve Lending allows artificial currency to be created into a system. 30% extra Mavros; N100k final balance in an account. Both of these can be converted to cash. You either GH or you communicate with your bank to pay you.

So, the obvious question arises: how are those extra derivatives we created from the ponzi scheme and fractional reserve lending accommodated? The simple answer is that everyone won't go to the bank the same day. Today it's Peter, tomorrow it's Paul. If Paul and Peter go the same day, MMM or Second Bank of Nigeria crashes. That simple.

So if they are so similar, why is one embraced and the other is considered legally and morally criminal?

Let's go back to the illustration. Customer B deposits his 90k in Second Bank for a while or simply takes it to "Gitib Bank". Gitib Bank replicates the process and are able to keep just N9k and loan out N81k to another customer, C. Already N271k has been generated from just 100k physically circulating. The rest are just numbers in computers. Only one person has N100k, two other people owe the banks N171k. Imagine!

Maybe they all loan at a generous interest rate of 5% pa (which never happens). Do the math on the derivatives these banks can create from mere "keeping" of people's currency. Even without any interest on the ricocheted use of people's deposits, those guys will smile to the bank. Oh! They are already at the bank. My bad.

Secondarily, money supply increases, inflation sets in, the keke guy has to work harder to afford the life he lived earlier with less resources and stress. All while some Agbaje or Adenuga guy smiles at his billions made "legally."

Then came Sergei Mavrodi with his concept of creating this pool of increased currency supply, but designed not to benefit him, but to benefit the masses. Not the big owners. Not the government who feed on taxes and can't do anything to hurt compliers. Then came MMM.

If you didn't know this already and was busy criticising, I hope this will help you understand why the huge PR efforts to discredit MMM and dissuade your involvement in it. And I hope you now know that those guys had what they were fighting for, and you didn't. You were just an egotistic opinionist who didn't even know where the gun barrel was pointing. I hope too you realise how foolish you've been all the while.

In conclusion, MMM is actually your friend that you threw out. The real ponzi scheme is the bank. They won't even give you loan to plant a plot, they don't go any extra length to add value to you. It's all business for them. The government is their accomplice and we all know they are worse. Like Sergei asked, "if you know what is right for people, why is the life so bad in the country?"

If a Senator that does not care about your dilapidated learning infrastructure, where you have to go out from and compete in the same market space with folks from Norway and China, if they don't care about your near zero healthcare, why do you suddenly think that they will care about where your business risks lie? How could you be so foolish? The other day I landed in a chat room with folks that are deeply into cryptocurrency and are in far away Europe, and I began to really feel the impact of NOT having power 20 hours out of 24 in the 33 years I've been alive; of taking GST classes in a hall crammed to varendah, under a lecturer who does not even know me; of having to buy internet bundles at exploitative prices and still having to move from kitchen to varendah in search of signal to connect Google. I felt like an illiterate with no hope.

Yet those guys who are benefiting from this ruin want to advise me how to keep my hard-earned money. I stand with MMM through the trying time. I just PHed 50k. I'll gladly pay that into the system and not expect return if that's the cost of finding its balance again. #IStandWithMavrodi!

THIS GUY WROTE A MAGNIFICENT PIECE AND WAS NEVER ON FP..I still wonder Nairaland is seriously advocating against MMM.

Nice write up..
Come January,I will PH to help the mmm community...it all depend on people's mindset.

I made money on mmm and I've provided a pending help on 500k...with the hope of helping the community come January..
It all depends on your mindset.

Oooops:
As we speak people are providing help...

A lot of people understand the MMM ideology. only those who don't and are really selfish are the once scared and creating unnecessary panic.

As at this afternoon people are still getting paid

I have been months in this forum, but never said a word.
Am not a guider, I don't have downliners. I don't have any special interest in mmm.but I must confess,Mmm special. Unique and worth getting involved in. In the face of all this panic, someone just paid me 402.000.A lady for that matter. Am so impressed. Long leave Mmm.

CREDIT ALERT
Account: **2246
Amount: N402,000
Description: CS H DEP OKOLIE UCHEMUDI THERESA
Date: 13/DEC/16 15:46PM
Balance: N405,024.56CR
Dial *770# for Instant Banking & enjoy transactions up to N500k to do Transfers, Pay Bills & more
For Enquiries call +23414485252

Spot on Bro..
They just don't understand how mmm works...
My advice,if u don't understand it,don't get involved.
Use your spare money unless if you've got a strong heart.
I've got close to a million marvo but am still cool with the system.
Calm down people.

mployer:
Bro, why are you not thinking with ur head?

You are talking about GH when the problem is with PH. Who will want to PH at this point in time? Nobody. So there wont be any GH for anybody. The system has crashed, you guys should wake up to it.

Nice question..I provided help today and you can do the same,problem solved.

News from South Africa has confirmed that they had a similar experience..confirmed marvo frozen for 30 days after which everything returned to normal.
Don't just read,pick up your phone and call someone in South Africa to confirm this.

Today,I witnessed so many people that are still providing help and making many transaction at Uba this morning and many people are still PH(ing) as we speak.
Everybody should be calm..

Do you clear cars from Cotonue??if yes pls tell the clearing cost for..
2008 Hyundai Santa Fe.
2007 Mercedes GL450.

Tolu1034:
kill this man once and for all

You will not see next year...anu ohia!!!

BrainnewsNg:
Good for them

Do not derive joy from people's agony and pain.
I sympathize with them and with myself as well.

Kendrick Lamar be da king...
Both rappers are not in the same league..

futureenergy:
MMM has just made the best decision. I advised one of the guiders to suggest MMM should be on standby from 10th of December. Like they read my mind. Very Good!!! Before we crash this thing with our Christmas mentality.

But this is their biggest mistake coz if they ever start functioning again(which I doubt),it's will be all GH..no serious 3Mer will ever invest more than 5k in that scheme.
It's really a bad move.

The main drama will start in the morning..
Pls try and keep your BP in-check

Today might be the day of reckoning..
The signs were all there since November.

This will even cause more panic..anyway,there are warnings that this day will come.

All confirmed marvo frozen till one month..

JT6GF10U7Y0078204

JT6GF10U7Y0078204

Please assist me with these VIN DETAILS..
JT6GF10U7Y0078204.

Please assist me with these VIN DETAILS..
JT6GF10U7Y0078204.

Please assist me with these VIN DETAILS..
JT6GF10U7Y0078204.

eph12:
How on earth were you asked to ph in btc? You must have indicated you wanted to ph in btc in the first instance.

Anyways for step by step information on how to open a bitcoin account and fund it you can contact me through the number on my profile.

I didn't indicate anything coz I have ph few times before and I always choose bank or other banks...will contact u in a bit

princeofpeace22:
pm me for a way out cheers

Done..pls help me out if u can..I will really appreciate it

I was paired yesterday to PH to 5 People via Bitcoin,i neither have a Bitcoin acct nor my acct been linked with ph in Bitcoin.
Pls what could I do in this situation(?) coz I usually ph through bank to bank transfers and not Bitcoin and I've got less than 15 hours left to ph.
My so-called guiders no is connecting.

If you don't have the heart to bear losses,pls don't get your as** involved.
The day it will crash will be like any other day so put that in ur pipe and smoke it..

True..got the message from UBA yesterday...


Dear NONSO••••••


We wish to notify you of our revised spending and withdrawal limits on foreign currency cash deposits made into your domiciliary account. This change is effective December 5, 2016.

Enjoy our new limits below on your transactions this festive period.

§ ATM Limit - $5,000/weekly
§ POS Limit - $5,000/weekly
§ Web Limit - $5,000/weekly
§ Wire Transfer -$10,000 / weekly

* There is no spending limit if foreign currency deposit is not cash based and there is no limit for across the counter cash withdrawals.

Thank you for banking with us.



www.ubagroup.com
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segzy14:
Hassrash

Thank you..I've contacted him and we are working towards doing some car deals.

horlermesheye:
meet me in private forbd vin

Yes Sir!!

Pls has anybody successful done any car deal with any of these car dealers in COTONU??
Pls recommend a good dealer for me.

4 million (?)it's a 2k13 vehicle without a push button start...
4 mills..
Forward the vin number.