KYjelly2's Posts
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That's how one guy told me to join b4 I even knew anything about the scheme. I said OK dude, lemme try with 10k first. Dude was like, no, that I should start with 1 million naira. Can that kind of guy be my friend? All because you want 10-20% of my deposit, u tell me to skip my research and invest 1mil on top of that. Scammer ediots |
MMM'rs are funny men!! You guys are not investing Nada! All you are doing is ripping off the next guy and telling the next guy to rip off the next guy, smh ![]() If you are have recovered ur money from MMM, then consider urself lucky. Funny enough, all this mmm guys won't sympathize with later comers that can't recover their money, some of who may become suicidal. Mmm Russia crashed Mmm Zimbabwe left 66,000 pole stranded. And u say MMM won't crash? U guys make me sick men! Find a more sustainable means of income |
ChangeIsCostant:like ![]() I never want to criticize a real prophet, but nowadays there are so many fakes out there. You hit the nail on the head! How is hot water relevant? Jesus turned a small amount of fish and bread into a bounty to feed many - Relevant Jesus turned water to wine when the wine at a party had finished - Relevant ----- Pastor/Priest turns bucket of cold water to hot water out in the open ![]() ![]() |
abbeyty:Ediots all over this thread applauding Atiku, like da fvck ![]() Is this country cursed or some shhh ![]() |
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armadeo:https://s-media-cache-ak0.pinimg.com/originals/69/82/11/698211eca9a00b4ece4eee3e04abfb54.jpg |
It's better he had kept quiet. If i was there as he was about to explain, i would have been like : [img]http://cdn.meme.am/instances/40065486.jpg[/img] |
hmmm ![]() ushey face ur wok ushey face ur wok so na prere girl make u commot 4 street like so, wit d energy of a tasan lion ![]() ![]() ushey face ur wok ![]() |
ivandragon: ![]() We are almost there ma nigggah we are going back in time all the way to the field https://i4.mirror.co.uk/incoming/article2987476.ece/ALTERNATES/s1200/12-Years-a-Slave.jpg |
Damn! Look at my Nigga Saed! Haven't seen this guy in like 2 years. So this is where u have been hiding ![]() marrying an igbenedion Nice move dude |
optimusmind:In no way is the banking concept similar to the MMM concept, they are as dissimilar as black and white. Banking often comes with a government insurance on your deposit up to a specified amount, while MMM comes with no insurance whatsoever should it go belly-up with your deposit still in it. Banking isn't about robbing Peter to pay Paul. Sound banking institutions are supposed to make sound investment decisions with customers deposits. Yes, they do use your money to make money, but that is what they are in business for and in return they give you, among other things: -Money Security : keeping money under your mattress is just an invitation for doom as a lot can go wrong, from rats and mold, to theft and fires. You could withdraw your money though and be your own bank if you so desire, but you would have to own up to these risks. -Interest : You may not be satisfied with the interest accruing on your deposit, but it still accrues non-the-less. As said above, you may not be satisfied with the interest rate accruing on your bank account, but they are under no obligation to pay you a higher interest rate. There exist, other sound and insured financial vehicles that can get you to your destination of a higher interest rate, like Treasury Bills, CDs and so on. -------- You said no financial system in the world would exist if people stop participating in it and I agree!!!! Without participants on nairaland, comments, handles, etc, nairaland would cease to exist. Without participants in a school like Unilag, it would cease to exist. ... We can play this game forever. The important question to ask is, how sustainable is it? Does it have value? Does it add value?... For instance, even if a bank makes no investment with my deposit, hence giving me no interest whatsoever and charging me maintenance fees to keep my money, I would still go ahead paying that maintenance fee knowing that i am paying for the risk of something going wrong, if I stored my money myself at home. So in essence, I see value in the system and as long as I keep paying my fees, it becomes sustainable. Juxtapose that with me, perhaps, being a participant in MMM. I may get paid a couple times, but down the line, according to the glaring mathematics, the implosion would get to me one way or the other. Even if I made money off of it, the fact that it would have imploded, hence become non-fuctional, makes it as a matter of fact NON-SUSTAINABLE! |
Okay class, today we learn how and why MMM Nigeria is a fraud based on simple mathematics. To keep this as simple as possible, I will be using friendly round numbers for this illustration. [color=#3498db] Lets Begin!!![/color] So, alot of Nigerians now are drawn to the possibility of making 30% of their "investment" within 30 days, but where does this 30% come from? Let's say I "invest" N100 into the scheme. The only possible way for me to get 30% interest on my principal is to have someone else pay me N130 since there is no interest bearing investment made by MMM. Now person no. 2 comes in and "invests" only N20. If i then request help with only the two of us on the scheme, I would never be able to get my N130 because the total money in the system is only [color=#2ecc71]N120[/color] ; my N100 plus the N20 from the new participant. Since no interest generating investment is made with this total sum of N120, the only way for this sum to go up, so as to pay me my initial principal plus interest, is to have more participants come in. Now Person no. 3 and 4 come in and each "invest" N100. The total sum of money in the system is now [color=#2ecc71]N320[/color]. Out of this N320, I can then be paid my N130 and person no 2 can be paid N26. N130 + N26 = N156. The system after paying the first two people now only has N320 - N156 = [color=#2ecc71]N164[/color], which is not enough to pay back the principle of the next two people that joined in (N200) plus their interest (N60). To upset this, more members are required. So now, lets say 4 more people join in due the multiplicative nature of these schemes, each contributing N100. it means the total sum in the system is now N164 + N400 = N564. This is enough to pay the last two people, but for these current 4 people to realize any gains, they would need more members to foot their "bills"; N564 - N260 = [color=#2ecc71]N304[/color] < [color=#e74c3c]N520[/color] (amount due to the 4 new investors). ...and so the cycle continues on and on until new members stop trooping in. as you can see, NO ACTUAL NEW MONEY IS BEING CREATED/GENERATED As with any pyramid, the closer you are to the top, the more money you stand to make. What this simply means is that if you are one of the earlier participants in a long lived scheme, you stand to make money off the next set of vulnerable "investors" who came in late. Do not get caught up in the system when it crashes, being a late comer and vested with huge amounts of money. The people making money are the so called early comers. If the scheme crashed TODAY, majority of the early comers might not have lost that much if they had regularly cashed out with an unchanged principal. The short changed would be those that have been in it for 2-3 months prior to the crash.
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porshuch:Thanks men ![]() Haven't laughed this hard in a long while... Chibuzor counting his mangoes, oh my days |
uwagimboo:I'm very grateful to God, for real, but I'm still perplexed ![]() Like why ![]() Anyone that is familiar with Lekki epe would know what I'm talking about. You have bus stops close to every roundabout. Now if u want to make a u-turn from the bus stop, then its only right that you follow traffic all the way to the next roundabout and make ur u-turn correctly. This guy just went from one of those bustops and rode one way, in the hopes (I guess) of not having to travel a far distance to make a u-turn. It was so bad that we both screeched and the bike lost balance. Why can't ppl value their lives. Thank God again that I had not throttled too much, else, I surely would have cleared both of them, sigh! And the guy was still cursing me. You are riding one way into oncoming traffic and you are still cursing somebody, chai ![]() |
Was driving on lekki epe and at one of those roundabouts, as I was turning with the road, out of nowhere, one bike guy carrying a passenger just sped right into my car riding one way If was by the special grace of God that I did not kill both of them with my car. I wound down my window and the guy started cursing me, like ur mama and all that stuff. I am almost speechless till now, though it happened last night. Why would u knowingly ride one way What is wrong with some people.As a passenger, how can u take ur life for granted like that. Why would u be on a bike and allow him to ride one way on an expressway? .......,.......... So my question is, if my brakes failed to stop the vehicle in time, would I still be at fault, for running down someone that was riding against traffic ![]() |
Not too far back in distant memory, the president obstinately held a stance against the devaluation of the naira, even going as far as indirectly usurping the powers of the CBN governor. I say indirectly here, not implying the absence of a statutory separation of powers, but more so, showing a strong influence over the CBN office, often using the word "I" to buttress his stance. Concurrently, you had Zombies, even more obstinate (as they are brain dead ), urging the President on to keep the dollar pegged at N199, even when it was glaring to those with even the slightest of electrical brain activity, that such a spread between the official and parallel rates were unsustainable.I just wonder how the zombies feel, now that the president stance has long since changed ![]() |
Called out Diesel supplier to supply and he said the price is now N205, but hasn't been reflected at petrol stations. Could this be true ![]() |
Just another day in the jungle, sorry zoo ![]() ordinary plantain and you strip a man No be say d man rob you sef.another collection for google to expose the shame of this zoo to the whole universe (yes, those in mars too), sigh ![]()
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![]() Nigerian Economy is doing like this, like this, like this https://techpoint.ng/wp-content/uploads/2016/06/hon-kazaure-economy-doing-like-this.gif now Nigeria is pregnant ![]() walahi, whether u are a man or woman, u must feel this labour pain, walahi ![]() https://media3.popsugar-assets.com/files/2015/05/12/740/n/1922398/5628419d_m2MkLP.xxxlarge.gif |
EdCure:chai!!! |
Yet, Dollar went up by more than 100% with them in Charge, smh ![]()
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kropotkin2:I guess time would heal that bad blood long after independence is gotten. |
These old men and their old ways of thinking. Brings to mind this NYSC scheme that is still on till now (2016) and how much of a failure it is. Adding a wasteful year to the life of a graduate, just so he can learn to "love his brother", is just ridiculous. That money can go into building research facilities in higher institutions that will facilitate problem solving for the different sectors of this country. The time of the graduates could go into getting a career head start, not farming or teaching. The old ways of Nigeria just need to be washed away. Like environmental sanitation were for 3 hours on a Saturday, you can't leave your house, even under a democracy. The old really needs to be washed away. I have lived in developed countries for years and not once have I been forced to stay home for 3 hours just so that I can clean. The sad thing is that the old ways are quickly affecting the thought processes of the new, the youths. For instance, if you ask some youths if they see anything wrong with the NYSC scheme or Enviromental Sanitation lockdown, they'd most likely tell you they don't see anything wrong with these issues. That, as a matter of fact, we need them ![]() Now you guys have gone to elect another old head in Buhari, a man whose only past achievement was shooting his way into the Presidential office. They screamed, begged even, for that kind of leader, sigh ![]() anyways, I'm rambling, just don't know how to change mindsets in this country ![]() |
I would love it if this country could be split up peacefully. I don't know what really would be wrong with that ![]() Why can't we just have a referendum and decide for ourselves ![]() Dunno, i just believe we will all prosper if the majority ethnic groups were on their own. We don't have to be enemies just cause we are separated. We could all still have good international relations. |
When we were younger, armed robbers actually chased after my mums car and by Gods grace, the driver was able to speed away very quickly. So if they had speed limiters installed, what would have happened ![]() These Nigerian officials are looking for nothing else but extortion! So much for the war against corruption. So they stop you and start asking for: -license -Registration -insurance -road worthiness (all fine by me, but wait, there more) -C caution -Fire Extinguisher -and now, speed limiter ![]() who are we really kidding here ![]() Isn't it better like it's done in the U.S, were police have speed guns and actually enforce speed limits ![]() I guess the Nigerian police or road safety force are too damn lazy to approach enforcement with any kind of zeal, beyond setting up shady roadblocks. ediotss!!!!!! I will never get any kind of speed limiter as that will do more harm than good in my opinion. I bet that within the next 5 years, some other policy will come up requiring new license plates and drivers licenses. Confused ediots ![]() |
silverng:nope, no kinect |
Nigerians are just ediots ![]() first it was nepa bill now milo ![]() daft, daft, daft, daft [size=18pt]DAFT[/size] u citizens of this shiiiiithole make me sick ediots. now dollar is almost 500, yet u guys were cheering for ordinary milo ![]() What is wrong with the people in this country ![]() |
Kjnwancaro:just imagine that shhh, armed robber ![]() they just like throwing that tag around me!!, God save us ![]() I have come to the conclusion to never stop in any lonely area in Lag at night, NEVER!!! if na flat tyre, we ride overheating car, we ride even if engine catch fire, bros, we stay riding ![]() |
nurey:guy u are quite funny. it all happened so quickly dude, no lie! my guess is that, as she was out trying to hail a cab, she must have spotted the guys pulling over and quickly came back into my car. Truth be told, i would have left with or without her, lol ![]() and the 200km/hr, i said "i must have", meaning, i wasn't sure. What i was sure off though, is that i was going ridiculously fast and I'm a speedster, so that should tell you something. |
izzou:If it was those new "112" cars, honestly, i think i would just have spoken to them. Let them search or whatever they wanted to do or even tip them. ...but these guys showed up in some strange car, no siren installed, no lights, nothing, bodywork damaged... Guess that's their version of undercover, but at that point, the panic had already set in men!! 4 guys with guns jumping out of some unmarked vehicle, mba ![]() |
finalboss1:It's a Nissan Murano. I am grateful i just changed the oil, filter and tyre. So I was good to go. |
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