PONZI SCHEME

Ponzi scheme is a fraudulent investment operation where the operator generates returns for older investors, rather than from legitimate business activities or profit of financial trading. Wikipedia said it not me.

Raise your hand if you put your money into MMM. Don’t be shy, many did it and benefitted from it, sadly, many others were drowned by it.

Now, I totally get it, sometimes, things can be so hard that we seek out short cuts, easier routes and wrong portals to acquiring our desires. But then, did it help? Are you where you need to be now?

A novel we read in secondary school had this term “there are no short cuts to success” it stuck in my brain since that time. And at different times, I try to disprove it. But every time I try to apply it, it always turns out to be right. There are no short cuts.

So you put twenty thousand somewhere and few days later you get forty or fifty thousand naira, and it sounds so easy, everyone is doing it and getting it. You need forty five thousand for your house rent and you have only twenty thousand and somehow, it sounds smart for you to invest that money in MMM.

But what happened? It crashed, froze, paused or whatever phase was used to address it. And the only point it successfully proved was “there are no short cuts to success”

I know people who participated in that MMM scheme, that are still paying off loans till date, families that it completely shook financially and lives that has not been the same. Why? Because there are no short cuts, it doesn’t exist.

We are a family so let me share this with you; so when MMM was booming, I had this friend who I hadn’t seen in a long while, but the moment he joined MMM he began to visit me on a daily bases. Trying to convince me to join, I’m like an Igbo woman, “I nor dey carry my money play with persin, lol”

I didn’t trust his intentions, but I listened to his arguments, and he spoke so highly of it. So one day, he came to my house again on a hot afternoon.

This time he meant business, he said that the Christmas bonus has started and I would be a big fool to let it go by me like that.

“Shai! I look this guy” I thought about it, it’s no longer double but triple. Greed set in, I considered all that I could buy with that money, Christmas done reach.

I took my phone and checked my last bank alert, the money was there. Just as I was doing that, my friend made a very powerful boastful statement “I can even use my money and sign you, then you give me thirty percent when they have paid you”

I dropped my phone immediately and told him to sign me, but he would have to use his money because I don’t have enough and he agreed.

Lo and behold! MMM froze three weeks later with that money in there.

Point is, there are no short cuts, what we need to do to succeed might seem tasky and lengthy but it’s sure and better than whatever short cut you are contemplating right now…

 

Have a blessed week and do subscribe to the blog by scrolling to the button of the page, type down your email address and click on SUBSCRIBE (It’s free)… and please leave a comment, I want to know what you think. Thanks guys.

8 thoughts on “PONZI SCHEME

  1. Stanley Agidee says:

    Only those who need quick money will fall into that trap if u like preach from here till thy kingdom come I will not do it

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