With the spectacular way the MMM capitulated, I thought Ponzi schemes were sent to the abyss with the hope of seeing it re-emerge maybe in 10 years time. How wrong was I. They have re-emerged as quickly as they went down #MoneyWithGabOmin
People are still heavily involved with some variants of these schemes. Sad to watch, because the outcome is predictable. Let me take out some time to talk about Ponzi Schemes #MoneyWithGabOmin
This is what a Ponzi Scheme sounds like. You are invited to join this money spinner with no riak involved except for a small investment of time to bring in few people that will invest, just like you did #MoneyWithGabOmin 
If you notice & observe, nothing is sold. Rather, you are required to recruit downliners. Income from them is used to pay original investors their returns. As you can see the any new investment is used to pay the upliners. As such you always need new people #MoneyWithGabOmin
As it grows you are building a pyramid with money from the bottom being skimmed to pay the older investors. The allure of getting this constant payment keeps people locked in until the pyramid crumbles on its weight #MoneyWithGabOmin
It has to crumble because the pyramid grows exponential in the power of 2s. At the 10th level, you need 1024 investors, at the 11th level, you need 2048 investors to keep it steady. By the time the house starts to crumble, the "owners" of the fund bailout #MoneyWithGabOmin
How do know a Ponzi scheme? 1. They do not sell a product per se 2. Operators are usually not licensed 3. Operators usually sell you hope and expectations 4. Consistent returns even when the market is down 5. Complex strategies of how they make their money #MoneyWithGabOmin
Every Nigerian generation is "blessed" with their version of Ponzi scheme. My parents had PlanWell & Umanah Umanah. In the early 2000s, there was Fund Map. The late 2000s, saw NOSPECTO and various wonderbanks. MMM was the latest one #MoneyWithGabOmin
I remember when MMM emerged, I went on a one-man crusade to warn folks around me. I was branded the enemy. It was sad to watch them get sucked in. Many became evangelists. Y'all know how it ended. I have done the Lord's work this evening #MoneyWithGabOmin
