Those who fall for Ponzi Schemes are driven by greed, desperation, ...

Kai! I remembered the uproar of MMM around 2014. The business was booming, and everyone wanted to be a part of it. I mean, it was plausible. Register, bring someone to register, and get a bonus. However, it sounded too easy. In this world where you have to work for your own stuff, that was way too easy, but trust everyone to be happy at the minimal work and great reward they get.

Those who fall for Ponzi Schemes are driven by greed, desperation, & a lack of planning.png
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This scheme started in 2011 and ran through 2016 before it crashed. At the time, I was young, so I didn't invest in it, but my brother did, and boy, was it a mess. The thing about the Ponzi scheme is that it draws you in. When you get one cash out. You want another, and it was so for my brother. He withdrew but re-invested, and that was the time it crashed. A whole 33k down the drain.

Now you might think that is small, but remember, this was in 2016. 7 years ago, that money meant much. I remembered how he wailed to me. But nothing could be done. A lot of people predicted that the scheme was going to crash. They didn't have enough to sustain the thing, and the scheme was nothing but a scheme at the time. Some people even said that they were using customers' money to pay customers, and again, it sounded plausible.

I often say that when something is too good to be true, that's exactly what it is. It's too good to be true. Now, the MMM Ponzi Scheme is back, and there is a rush. People want to go into it again. Can't people learn? I understand things are hard, and people need money, but this isn't the way. At least, do your homework. See how much money was lost the other time. This is no better than betting. Why not use your money for something else? Something rewarding.

What makes it worse is that in some countries, you could be penalized for creating Ponzi schemes or, as I call it, 'bring one person to bring one person.' Almost all Ponzi schemes known have ended up badly.

For instance, Bernard Lawrence "Bernie" Wolfie was sentenced to 150 years imprisonment for executing the largest Ponzi scheme in the world by defrauding thousands of people of $65 billion. Just imagine! 65 billion dollars!

That is the summary. Everyone wants money. They would do anything, even if it means you being collateral. So, what you do when you see something too sweet to be true is to do your own research. Weigh your pros and cons and see if it is something you should put your feet into.

People don't even understand the investment. They just see someone getting money, and they want to enter. They often forget that it might be at their turn that the thing fails. Why not go legitimate? Ponzi schemes require an endless number of investors because they have to pay their old investors, so the thing never ends until the demand is greater than the supply, so it crashes. It's the same old story.

So, if you ask me, anyone excited to invest in the MMM scheme again in 2023 is majorly greedy, lacks planning, is desperate, and lacks a value system. For anything like this, step back, do your research, ask the right questions, consider your worst-case scenario, and walk away if it's too good to be true. As opposed to what you know, there is literally no shortcut to success. You give and take. Not take and take and take. Nobody should be duping you and giving you fairy tales that you hang on to as old as you are.