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Nairaland Forum / Nairaland / General / Investment / MMM: Robbing Peter To Pay Paul? (video) (1791 Views)
Robbing Peter To Pay Paul / MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? Theguardian / MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? (A Must Read) (2) (3) (4)
MMM: Robbing Peter To Pay Paul? (video) by Vaxt(m): 12:00pm On Oct 16, 2016 |
That is what a lot of people against MMM are saying, including You! If not so, where is the 30% coming from? they ask. I have news for you, if MMM’s 30% is “robbing Peter to pay Paul” then you need to stop putting your money in the bank because the 1% to 2% interest from banks is from other peoples’ deposits which according to you is “robbing Peter to pay Paul”. Do you think the bank can pay the tiniest interest if other people’s money is not involved? What most people do not understand is that when you deposit your money in the bank, they immediately use your money in one or more of the following ways: 1. Allow another depositor to withdraw when they request to do so. 2. Give out loans to those seeking loans from the bank 3. Pay workers’ salary including bank managers, clerks, marketers, cashiers, tellers, cleaners, security guards etc. 4. Buy equipments needed for smooth operations like generator, computer systems, communication gadgets etc. 5. Sponsor the expensive lifestyles of bank executives including the next trip to America or Dubai. 6. Other running costs of the bank Just imagine! Did you know this? See what our deposits are used to accomplish! Now, for the privilege of using our deposits in the above ways, the bank rewards us. with 1% or 2% interest (up to 6% if fixed deposit) provided the money stays with them for over a month. Imagine! Just 2% after all that! Consider this; you deposit 100k with your bank and after 2 weeks you return to withdraw the entire 100k. Question is do you think it is your actual 100k they gave you? NO! Your actual deposit has already been used in one or more of the ways mentioned above and the 100k they give you is because of fresh deposits the bank recently received. If you look closely, you will realize that banks can pay more interest than they give, but that means sacrificing the expensive lifestyle of the bank executives. Why will they cancel that next trip to Dubai because of you? Think. However, in MMM the ONLY thing your money is used for is paying another participant due for payment directly, no middleman. There are no salaries to pay, no running costs, nobody collecting loans, no bank executive’s expensive lifestyle to support. So you can see that MMM can conveniently offer 30% rewards for your willing and generous donations to fellow participants. Therefore, whether 2% or 30% interest it all comes from the same source: other people’s money (OPM). Now let’s talk about insurance companies. I believe they are the epitome of the so called “robbing Peter to pay Paul” allegation. How does insurance work? Suppose you insure your property against fire for 2 million naira and they charge you a monthly premium of 20k. You faithfully pay your monthly premiums without fail, and then on the 6th month the unexpected happens, fire guts your property! After the usual investigation, the insurance company is satisfied you have a genuine claim, they pay you 2 million naira. The question is where did the 2million naira come from? Your personal payment is only 120k, so how come 2million naira? Well, the 2 million is from other premium payments to the insurance company by other participants. Imagine what will happen if everyone on insurance with a particular company all have genuine claims at the same time? They cannot cope! In any case, the payment is from other people’s premium payment, which according to some (maybe you) is “robbing Peter to pay Paul”. If your eyes have been opened to the fact that whether 2% or 30%, they come from the same source and you realize that 30% is way better than 2% click here https:// /ZLm0fa to register for free and lets grow 30% every month together. If however you are still convinced the whole thing is “robbing Peter to pay Paul” I will suggest you withdraw all your money from the bank, cancel all your insurance (including your National Health Insurance Scheme) and keep your money under your bed, in your pillow/ pillowcase or dig a hole in your backyard to keep your money. That is the only way you won’t participate in this “robbing Peter to pay Paul” business. But your money cannot grow that way whether 2% or 30%. If you realize that 2% is too small and will like to enjoy 30% growth instead, click here to register for free https:// /ZLm0fa and let us grow at the rate of 30% per month without greed or selfishness, but willingly helping one another to escape into financial freedom. You will be added to our Whatsapp group and given appropriate guidance to maximize this opportunity. Together we can change the world. Click here to register free https:///ZLm0fa Watch This Video https://www.youtube.com/watch?v=k5P2g-NQPx8 1 Like |
Re: MMM: Robbing Peter To Pay Paul? (video) by Nobody: 12:02pm On Oct 16, 2016 |
MMM Pays |
Re: MMM: Robbing Peter To Pay Paul? (video) by Nobody: 12:06pm On Oct 16, 2016 |
That is the Fact. Although I don't do MMM but it's cool shit though |
Re: MMM: Robbing Peter To Pay Paul? (video) by FreshBoss007: 12:06pm On Oct 16, 2016 |
is this shit still on? |
Re: MMM: Robbing Peter To Pay Paul? (video) by Vaxt(m): 12:14pm On Oct 16, 2016 |
Cc: lalasticlala |
Re: MMM: Robbing Peter To Pay Paul? (video) by shadeyinka(m): 12:50pm On Oct 16, 2016 |
@ Vaxt The OP has looked at MMM myopically with respect to banks. I don't like banks or the principle of banking but the truth must be told. MMM operates a full or semi-pyramidal scheme where the down lines fund the uplines. If new members stop coming in , the bubble bursts. Banks however do not operate a pyrimidal scheme. If new deposit stops coming in, business continues with the exception that the bank stops growing in terms of their deposite base. No matter how long, business based on the pyramidal scheme saturate and collapse. Those who operate a semi pyramidal scheme has a form of "legit business" as a cover-up. Such business give less than 5% of their returnd profit. 5 Likes |
Re: MMM: Robbing Peter To Pay Paul? (video) by toptech29: 2:22pm On Oct 16, 2016 |
time to make money with mmm |
Re: MMM: Robbing Peter To Pay Paul? (video) by Vaxt(m): 2:32pm On Oct 16, 2016 |
shadeyinka:MMM has no charges, I will stop here, think about it |
Re: MMM: Robbing Peter To Pay Paul? (video) by shadeyinka(m): 4:26pm On Oct 16, 2016 |
Vaxt: Tell me please, How does MMM really make their money? The question is not about how MMM investors make their money. 1 Like |
Re: MMM: Robbing Peter To Pay Paul? (video) by Vaxt(m): 4:30pm On Oct 16, 2016 |
shadeyinka:u re the type that jump in conclusion without reading a damn tin, read & watch the video mr b4 u start embarrasing urself |
Re: MMM: Robbing Peter To Pay Paul? (video) by Vaxt(m): 4:34pm On Oct 16, 2016 |
Some people have been caged by their village people that they will never add benefit to their lives, so when ever they start saying crap abt MMM I understand where the network is coming from. 1 Like |
Re: MMM: Robbing Peter To Pay Paul? (video) by aAK1(m): 4:34pm On Oct 16, 2016 |
shadeyinka:You are very wrong. One thing you have failed to understand is that 95% of the people who get paid by mmm still put back even more money then they priviously did. I started with 50k in march but I put in nothing less than 1 m every month now. Even without new members mmm will do just well with what it has on ground. This is a well thought out plan buy an intelligent person. Most of the people who sounded like you 4 months back are now in mmm and that's how it will remain. New late comers are coming in every month. 2 Likes |
Re: MMM: Robbing Peter To Pay Paul? (video) by shadeyinka(m): 4:49pm On Oct 16, 2016 |
aAK1: I understand you. I just need to know exactly how they put invested money to work. What are the Products? What are the Services? Who are their customers? How come they make more money than direct businesses? 2 Likes |
Re: MMM: Robbing Peter To Pay Paul? (video) by aAK1(m): 5:13pm On Oct 16, 2016 |
shadeyinka:this question is what the op just answered. It is almost the same system the banks use and we don't see the banks crashing every now and then. you can call it robbing someone to pay someone that's up to you.and mind you, mmm is not directly making any money. Any money made by mmm is made from the the help they provide themselves. Mmm has no central account. No body is paying money to mmm. It is people paying people. The system is run by the people. I can see you dont really understand how it works. Pls lets not deal with hearsay. Look for a link to the website and understand the the ideology that drives it.i hear people say things like mmm will carry your money away. I haven't given my money to mmm. I gave my money to an individual and someone else will do the same to me.money is simply in circulation 1 Like |
Re: MMM: Robbing Peter To Pay Paul? (video) by shadeyinka(m): 5:25pm On Oct 16, 2016 |
aAK1: Maybe I don't understand how MMM works and after reading about it, I still have the earlier posted questions. I don't like banks, but I understand how they make money. Banks make money from commission on money the lend out, commission on money they exchange(forex), commission on services rendered about your money...its all about commision! Banks don't pretend to invest in someone's company neither do they sell products. How does MMM do their magic of multiplying money? If the downlines are making up to 30%, then MMM must be making a minimum of 30%. I see a business making fantastic income that can only be a ponzi! 1 Like |
Re: MMM: Robbing Peter To Pay Paul? (video) by akankemi1(f): 6:42pm On Oct 16, 2016 |
can someone change referral or guilder? |
Re: MMM: Robbing Peter To Pay Paul? (video) by Morganaliticus: 8:40pm On Oct 16, 2016 |
aAK1: The traffic on their site alone fetches them a fortune. |
Re: MMM: Robbing Peter To Pay Paul? (video) by aAK1(m): 9:46pm On Oct 16, 2016 |
Morganaliticus:I don't see how that's possible. The mmm site has no single ad on it. |
Re: MMM: Robbing Peter To Pay Paul? (video) by Vaxt(m): 10:14pm On Oct 16, 2016 |
aAK1:MMM is not for everybody |
Re: MMM: Robbing Peter To Pay Paul? (video) by glamz007(m): 12:11am On Oct 17, 2016 |
lol. Nigerians re now so nice. they make money and advertise it. lol |
Re: MMM: Robbing Peter To Pay Paul? (video) by Nobody: 7:12am On Oct 17, 2016 |
I just want to state... hope we are not going to allow the foolish Christmas festivities notion inhibit us from P.Hing on a regular basis in December? This is a concept being widely spread by the cowards, the ignorant and the panic spreaders who want to see MMM Nigeria fall and one that marvodians should actively campaign against. Don't just decide, spread d word! We decide the fate of our lovely life changing community |
Re: MMM: Robbing Peter To Pay Paul? (video) by Vaxt(m): 8:36am On Oct 17, 2016 |
glamz007:greedy people keep tins to themselves |
Re: MMM: Robbing Peter To Pay Paul? (video) by glamz007(m): 6:57pm On Oct 17, 2016 |
Vaxt:Lol. if u say so |
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