₦airaland Forum

BoleynDynaSTY:
You guys should rest already, let this MMM talk die abeg. You didn't join MMM, your money isn't stuck der so why you crying more than the bereaved?

HungerBAD:
Interesting.

The first time I heard about this MMM thing,was when some of my well to do friends from out of the blues started asking me for money from Nigeria a couple of months ago.

When more than 8 asked me for money,I now knew it was not a coincidence,and so I became curious. And I was able to get the information out from 2,who had invested Millions each that it was MMM.

The first thing I did,was look it up if it was legal in the US,since the US is the biggest market for anything in the World.

And the United States classified it as a Ponzi(419)Scheme,and it is totally outlawed by the Country.

There is a reason I go with the US classification of things,as they tend to be realistic about everything.

In the United States,there are no Landcruisers Cars,no Avensis and Peugeot products as they do not meet the United States standards for safety. But these cars are dumped in Africa.

This Country will not touch anything sub standard.

So if the MMM is banned in the US as a fraud,then it can only mean it is fraudulent.

NaijaEfcc:
a grown up man go just dey talk rubbish!! this is how you carry propaganda upandan deceiving gullible Nigerians, those cars are well known and driven here!!!!

abiambo:
Oga so if avensis is not accepted in the USA then its really not b cars . Peugeot is really an okada company because Americans say so.. Smh!!! Where did we keep our brains

HungerBAD:
Since i am not in the habit of replying people on Nairaland, i will make an exception just this once. Everyday is a teachable day, and please learn here, so you dont go make a mockery of yourself.

In the United States there are no Landcruisers, but in place of that they havStates there are no Avensis, but in place of that they have Avalon.

In the United States there are no Peugeot Products at all, failed the US Safety standards multiple times and was never allowed in.

Now that you have learned something today, you are welcome.

NaijaEfcc:
jeeez what's wrong with you!! do a simple Google search!!! these cars are driven here, i see them everyday!! a friend of mine owns avensis!!!!!! mehn nawaooo

martineverest:
i just pity dem...most of dem still believe they will resume in january.


Nigerians and gullibity are inseperable

Virgohills:
Wetin concern you. Olodo. Even if stops working now....it has helped people in the very short time it existed more than any goverment this country has every had in years

Young03:
some pastors said it was demonic but some ignored

mastermaestro:
Seun has decided to worsen the mental state of mmm faithfuls by consistently flooding his homepage with anything anti-mmm.

Atiku2019:
SpaceBooked

HungerBAD:
Interesting.

The first time I heard about this MMM thing,was when some of my well to do friends from out of the blues started asking me for money from Nigeria a couple of months ago.

When more than 8 asked me for money,I now knew it was not a coincidence,and so I became curious. And I was able to get the information out from 2,who had invested Millions each that it was MMM.

The first thing I did,was look it up if it was legal in the US,since the US is the biggest market for anything in the World.

And the United States classified it as a Ponzi(419)Scheme,and it is totally outlawed by the Country.

There is a reason I go with the US classification of things,as they tend to be realistic about everything.

In the United States,there are no Landcruisers Cars,no Avensis and Peugeot products as they do not meet the United States standards for safety. But these cars are dumped in Africa.

This Country will not touch anything sub standard.

So if the MMM is banned in the US as a fraud,then it can only mean it is fraudulent.

BoleynDynaSTY:
You guys should rest already, let this MMM talk die abeg. You didn't join MMM, your money isn't stuck der so why you crying more than the bereaved?

mastermaestro:
Seun has decided to worsen the mental state of mmm faithfuls by consistently flooding his homepage with anything anti-mmm.

Virgohills:
I just dislike that guy called seun, when MMM bought cars for people why did he not put it in front page?

ourkobo:
your gorow chewing aboki will never be President.

MMM: Why You Need To Be Worried Now
Please grab your calculator, pen and paper and let's do some simple maths. Please read with your common sense switch switched on.
Assumptions
1. MMM pays 30% monthly, excluding bonuses. That is 360% interest yearly.
2. MMM sells no product or service.
3. Payments of interest is made from investments by old and new members.
4. MMM has over 2 million members in Nigeria.
Now let's play with some figures.
Assume 2 million persons have provided help of N20,000 each, that means the total debt being owed to people is:
2000000 * 20000 = 40,000,000,000
40 billion Naira!
In one month, that 40 billion debt becomes
52 billion Naira debt!
i.e
[(40 billion Naira * 30%) + 40 billion Naira]
***Within a month, MMM creates a debt of 12 billion Naira from a small donation of just 20,000 each by its 2 million members***
•••Within a year, MMM creates a debt of 144 billion Naira from a small donation of just 20,000 each by its 2 million members•••
***Take note that the debts above does not include all the bonuses they offer.
***The debt above is owed to the 2 million persons who have provided help of 20,000 Naira each.
Since MMM doesn't sell any product or service, where are they going to get the money to pay back this huge debt?
Your answer is right.
They have to lure new members in with enticing offers and once they join, additional debt is created.
Old members can also put back their money into the system and more debts will be created.
Now, remember we used just 20,000 Naira. I know some people have put in 50k, 100k and even 1 million.
Test these different values on the equation and see how much debt MMM generates monthly and yearly.
#Questions
1. What kind of system will survive such kind of monthly or annual debt profile?
2. If MMM reaches its zenith, gets saturated, and new members stop joining, how will they pay back the debts that have been created?
What happened yesterday will give you an insight of what will happen when MMM crashes.
They had to Freeze withdrawals because it would have been impossible to pay back all the debts that have been accumulated.
When January comes, if people continue to put their money into the system, more debt will be be created.
It will only be a matter of time before the system will start to collapse under the weight of the accumulated debts.
#LastBullet
If you have been shouting that Buhari should not create a debt of almost $30 billion for Nigeria and you still come here to spew rubbish, you are worse than Satan
Source: https://m.facebook.com/story.php?story_fbid=1502458596435719