What's the different between Banks and the Ponzi system employed by MMM, Ultimate Cycler and other MLM platforms?

The only obvious difference is that in Banks, you don't have or expect any huge interest while the MLM platforms gives. Maybe that's why its more susceptible for a crash as predicted by some financial knowhow .

But whatever be it, its obvious the Banks just like #MMM and others pay their patrons from the money gotten from others directly or indirectly. And once they have less deposits, the payout drops as currently experienced in Nigeria at the moment.

There is recession in the country, many people want to withdraw cash for the festive period while less customers are willing to pay in, hence the unavailability of fund for payment and ATM machines because there is less cash flow in the banks for cash withdrawal.

Can we say the Nigerian Banking Ponzi system has crashed? Most likely but not completely. But as long as there is more withdrawal than deposits, there is currently no differences between it and the MMM platform

This is exactly what would have happened to MMM if they didn't pause operations and freeze participants accounts. Those guys have been in this business for years and they know why the system keeps crashing in different countries over the years and they are wiser.

If they allowed the system to keep paying, many participants would have seek for withdrawal as Nigerians are queuing to withdraw at the Banks but with limited fund available. That's how the system would have crashed in the country because many people wouldn't want to Provide Help because they need the cash for Christmas.

Now you see their Common sense? Because they need my money to pay another person.... No be the same thing banks dey do? Or them pack all our money go put for MMM too?

What is experienced in the Nigerian banks and no one is seeing the falling Ponzi system, would have been worst if it was MMM.

So brothers and system, weather its a recognized and well structured system or not, Ponzi system na Ponzi system, once there is less deposits, others can't get money. So even the banking sector by default is a Ponzi system.

try doing mobile transfer, or using ur ATM cards at POS terminals if you will be denied payments.

OK, try converting ur mavro to buy anything online

oga,der various ways to spend ur moni without visiting banks, besides, all oda Ponzi schemes will never function without banks, cos u guys don't do direct transfer to ur pockets do u? u must use a bank, so, quit d comparison.

Nigerian banks is only giving us a chance to doubt dem cos of corruption dey are into. aside DAT in well developed countries, neva compare a bank to MMM

Hello, there is no basis for comparison at all, one is gambling and the other medium of transaction with incentive.