How To Know When That Ponzi Scheme is About To Crash

The year 2016 is a year of happiness and sadness for many Nigerians. I said this because many Nigerians were made rich in the year 2016 by different Ponzi schemes, while some others were impoverished in the same year by the same Ponzi schemes.

The birth of Ponzi schemes can be traced in Nigeria by the development of an ideology by one Mr Sergey Mavrodi. He called his Ideology MMM, which stand for Mavrodial Mundane Movement. This Ideology was found on the principles of Mutual Aid Fund. Every mavrodian (MMM participants) provides help to one another and get 30% growth of their donations per month. They also get 10% referrals bonus for every member they get to register in the scheme. 

Within a short time of introduction, MMM gained massive popularity and many Nigerians embraced the idea. There is no nook and cranny of Nigeria where people will claim to be ignorant of the community. Many Nigerians started doing MMM that it cut the government attention. 

The Nigerian government through many of her agencies made every effort to discourage Nigerian citizens from participating in MMM. But it was like the more the Government attack the scheme the more people get to know about it and kept joining.

Over time, many other Ponzi schemes emerged and Nigerians patronized all. The countless Ponzi schemes become the order of the day in Nigeria. Many people through these schemes became millionaires. 

As if it will last forever, MMM which is the mother of other Ponzi schemes went on PAUSE when it became obvious that the system was no longer sustainable. The pause mode which in other words can be referred to as crashing of the system made many Nigerians to lose their money. Most affected by the pause were all new members of the community who were yet to make gains from the schemes. Some people who borrowed money to participate in such schemes had to commit suicide. 

But unfortunately, many Nigerians are still hell bent on doing Ponzi as recession bites hard on the country. MMM and other like Ponzi schemes went on break and restarted again and many other new ones were introduced. 

While I am not in a position to tell you whether you should participate in Ponzi or not, I feel I can advise you on how to play safe. From the past experiences, there are common signs that a Ponzi scheme is about to crash. This is what this article intend to achieve. 

There are basically three ways to know when a Ponzi scheme is about to crash.

The first one is that it will start matching people faster than ever. 

Secondly, they will introduce PROMO to motivate both existing and new members to donate more. 

Thirdly, the rate of default will multiply. People will start failing to redeem their pledges.

I hope this article is helpful to you? If yes, please share to your loved ones. You can also contribute your thought using the comment box.


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