Standing5:
Man Money Machine. Manage these and you have a successful business.

menxer:
Na wa to you, comparing GEJ to MMM.

GEJ lost an election period, forget the name calling, after all it came from both camps.

As for MMM, it's typical of Nigerians to miss opportunities, because of fear to change the status quo.

This is the internet age and making and keeping money has moved from brick and mortar stores to bits in cloud storage.

The world has come a long way pursuing money, from trade by barter, gold & silver coins, paper money, debit and credit cards.

All these means of converting and using money was challenged at inception, MMM shouldn't expect a red carpet reception.

Anyways, I am a participant.
Life is one big Risk for the taking.

Mboi2:

Don't mind them. I have read about MMM severally and I know how it works. The only thing that can stop MMM is Nigerian govt by inducing fears into existing and intending participants which they have done but am surprised they did not achieve their aim as they expected. People are still investing, proving help and getting help. I think Nigerians are beginning to see opportunities in Internet business.
Those who ask how the MMM guys make their money, why didn't they ask Mark when he came to Nigeria how he makes money from Facebook.

StOla:
MMM is a good palliative to the current economic crisis we are facing. I know many who currently survive on MMM having lost their jobs within the past year.

Indeed it is a Ponzi scheme, but one which has been designed to be free of fraud, such that it has become a legitimate financial system of its own. A financial system based on absolute liquidity and owing its success to a redistribution of income just when it is needed by the beneficiary.

That being said, MMM will ultimately deprive the money market and capital market of funds required to fund real investment. This will negatively impact the economy eventually.

Due to the absolute liquidity I mentioned earlier, there will be no funds for manufacturing, there will be no funds for agriculture, there will be no funds for health care, there will be no funds for housing and infrastructure. Infact, everyone will be so liquid, yet this liquidity can not buy them goods and services as these will cease to exist.

Then, the government will be forced to beg Nigerians to desist from MMM.

The government has to beg because people have a right to do what they like with their own money, including providing help to each other.

Already companies like Vetiva, ARM and the myriad of insurance firms now posing as investment and asset management firms, are already feeling the pinch, hence the recent outcry by their own industry regulator, SEC.

The banks don't really care as the funds still remain within the banking system, and frequent interbank transfers ensure the banks keep collecting their own share by way of transaction charges.

MMM is a money market killer just like the derivatives market in the USA that contributed to the global financial meltdown of 2008. Many will become rich by it, but it is a wealth that does not grow the economy.

StOla:
MMM is a good palliative to the current economic crisis we are facing. I know many who currently survive on MMM having lost their jobs within the past year.

Indeed it is a Ponzi scheme, but one which has been designed to be free of fraud, such that it has become a legitimate financial system of its own. A financial system based on absolute liquidity and owing its success to a redistribution of income just when it is needed by the beneficiary.

That being said, MMM will ultimately deprive the money market and capital market of funds required to fund real investment. This will negatively impact the economy eventually.

Due to the absolute liquidity I mentioned earlier, there will be no funds for manufacturing, there will be no funds for agriculture, there will be no funds for health care, there will be no funds for housing and infrastructure. Infact, everyone will be so liquid, yet this liquidity can not buy them goods and services as these will cease to exist.

Then, the government will be forced to beg Nigerians to desist from MMM.

The government has to beg because people have a right to do what they like with their own money, including providing help to each other.

Already companies like Vetiva, ARM and the myriad of insurance firms now posing as investment and asset management firms, are already feeling the pinch, hence the recent outcry by their own industry regulator, SEC.

The banks don't really care as the funds still remain within the banking system, and frequent interbank transfers ensure the banks keep collecting their own share by way of transaction charges.

MMM is a money market killer just like the derivatives market in the USA that contributed to the global financial meltdown of 2008. Many will become rich by it, but it is a wealth that does not grow the economy.

Lobatan01:


A very mature and sensible comment. I learned a lot from it. Thanks.

That being said, considering the present difficult times, the average Nigerian just wants to get money and make his life as easy as possible - we just can't care less how the MMM negatively affects the economy.

I've earned so much from it that for the first time in my working life, I now worry no more when the government pays my monthly salary. As at the end of last month, I had enough to carry me through for another 2 weeks - a total departure from what used to be when I'll be looking towards my salary by mid month and had it exhausted a few weeks after. The freedom MMM gives me is so sweet and priceless. I'll be contributing a million next month and will get over one million three hundred thousand Naira. Amazing.

It's not just about the money thing. At MMM, we are taught how the wicked world's financial system operates and how we can't get any better working in it. That's financial education; something we weren't aught in the tertiary institutions.

I'll keep making these risky moves and having lesser and lesser need to depend onyou salary.

Who government and banks don epp?

ToySoldier2:

This is one of the most mature responses I have ever got on naira land. Thanks @stOla.
However, remember that all the money cannot get into MMM, there will definitely money for the real sector. I think no sensible person will put all their monies in MMM. Also, we should not forget that more than 80% of those into it right now had not even been participating in the stock market

ToySoldier2:
It is no longer news that as it stands today, the social media is taking the place of the Nigerian main stream media, and so many reasons could be responsible for this. First is the unlimited coverage, and then the opportunity for real time response from readers from which even a non-descerning mind can tell easily the naive and gullible from the sophisticated and cynical. This of course has revealed the weakness of the populace to the ever witty band of writers and editors most of whom are ever ready to be used by the supercilious and imperious elites of our society.

Just a few years back as the heat of politicking ahead of the 2015 general elections were on, the former President Goodluck Jonathan was almost painted demon while in office, the media had a field-day, the former was dressed daily in clumsy attires of opinions to man him look stupid, clueless, wicked, and self centered. While it was true that so many things went wrong under his watch, it is obvious that he was not as clueless as he was made to look after all as barely fifteen months after his exit, the people now know the true definition of hardship. Apparently, he was better in charge of the economy. It is now clear that a few power hungry individuals just wanted him out in their own interests and did not allow his policies to come to fruition.

Now, the same social media has begun another onslaught on MMM global. Each morning you wake up you must see an article warning people about MMM, calling it a Ponz scheme and the rest. From the history of Nigeria Social Media, it is easy to discern that some power interest figures are calling for the former's head. The question I ask is this : why should people cry more than the bereaved.
It is funny somehow that most of the people sponsoring this onslaught own big businesses including fuel stations where they would rather hold the poor who buy from then ransome instead of them not to make profit. Many of this big wigs are the ones benefiting even from the current hardship of the people. Those that would be mostly hit are the Joint Stock Companies because the people have seen a better place to put their money. No wonder SEC has already raised alarm.

I am an MMM community members and I can tell you that from the way it operates, more than 98% of those in it know the risks involved and they don't need any sermon from any body. Little wonder then that despite the onslaught, it is even getting stronger.

It is worthy of note that MMM is in several other countries including India, Turkey, Zimbabwe, South Africa among others. The only places MMM has had issues are Russia, South Africa and China. Let's look at Russia, MMM Russia started having issues when the government sued them for tax evasion. Of course, how would you pay tax on money you didn't collect. MMM does not collect money from any one. It was an insensible thing for the government to do.

Let's look at South Africa, they had two option of either the usual 30% return or the 100% return on the Republic of Bitcoin that actually failed in South Africa. Those who had their money in Bitcoin were migrated to the normal 30‰ and as I write, MMM South Africa is still alive and well. That of China was outrightly banned because it was labelled a Ponzi scheme.

Now this is exactly where the Nigerian conventional business men want to cash in. They feel that if they can label MMM a Ponzi scheme, then government intervention would be imminent and if it does happen, all Nigerians money would remain within their scan. On its own, MMM is not designed to fail.

Finally, before anyone dismisses MMM as a Ponzi, they should make sure that it is out of their own conviction based on their findings and not what the Nigerian media has to say as it is greatly manipulated for the interest of a few just like what happened to former president Goodluck Jonathan.

explorer250:





oga we are not guillible. what you have failed to tell ud is how mmm makes its money or are they father christmas? we know how banks make theirs by giving out loans to businesses with interesy returns and selling of dollats BUT HOW EXACTLY DO MMM GET THE 30% INTEREST IT PAYS ITS MEMBERS?

PaulIdu:
The truth is that MMM is a fraudulent utopic Ponzi scheme that must fail and will fail when the time comes . It would grow to a stage where it would collapse and late entrants would lose billions ..My take is that life is an all round risk , even if you use your money to open a business ,the business still has a higher chance of failing than someone whose money is put in MMM .

ToySoldier2:

What you have failed to realise which is clearly written in the article is this. MMM pays no body. This is how it works. You are told to give N100 for instance to a person with the promise that if you do, someone else will be instructed to give you N130. The person giving you N130 will be given N170 by another person. Note the person who received N170 for instance will not receive anything again until he gives to another person again and the circle continues. I know you will never see the light in this if you are an insurance marketer struggling to get people to buy your product or if you work in the bank or stock market

explorer250:





oga we are not guillible. what you have failed to tell ud is how mmm makes its money or are they father christmas? we know how banks make theirs by giving out loans to businesses with interesy returns and selling of dollats BUT HOW EXACTLY DO MMM GET THE 30% INTEREST IT PAYS ITS MEMBERS?

MrCounselor:
MMM is [s]nothing but a scam!
30% just for fun? Its crazy if u ain't thinking right. Any biz that gives you that amount of interest is not sustainable and has bigger ambitions (ulterior motives).
Whenever enough money is in circulation they will pull the plug, Ka-booom!!! A ticking time bomb.

Life is all but a risk. Early birds and the non greedy will make their money before the INEVITABLE crash.

Meaning? Be smart, chop big, withdraw your money. Then start small again.[/s]

nonhuman:
I have been asking same question and nobody could vv me an answer

dguyindcorner:



What a mumuish post. First, mmm is never an investment program. Go and learn about its ideology and stop spewing trash. When you study the model well then come and talk sense but for now gerrarahere man you sh t!

MrCounselor:

Spoilt market for you eh?
Go and get ur family savings and dump it into MMM to get 30% after just 1month.
You could be lucky, but that doesnt imply it isnt a time bomb.
It is never possible for it to remain for long...say 3-5years? Never!!!

So far there's no profit turn in by the main organisers and you the platform users are making exorbitant gains, this case is that of "Those Who Laughs FIRST"

I'm not discouraging anybody, my point is shine ur eyes. Say Keystone Bank or some importamt figures are buying the idea makes you feel invincible. Bro, na jonzing world you dey o.

Just park well.

muzzol:


The question remains, how does the last person on the chain get his investment back if MMM is not earning income? Secondly, who bears the admin charges and expenses in this MMM thing?