Get rich Quick scheme! Ponzi or Not? 5 facts you should know before you invest your money in MMM

Get rich Quick scheme!  Ponzi or Not
This woman couldn't even resist promoting MMM in a place of worship
I am fairly sure that by now, almost everyone knows of MMM,Mavrodi Mondial Movement, at least those in South Africa, India, Nigeria and Russia. If you don't , then you must be a recluse or just indifferent, but let me quickly educate you. MMM is a pyramid style of investing (though my friends argue it is not an investment) money and making extra returns on it, it was started by a Russian, Sergey Mavrodi . This scheme which advocates, providing help to get help movement has gained popular worldwide attention. Since its introduction to Nigeria recently, many Nigerians don't know what to make of it, I Guess its a case of once bitten, twice shy as there have been several cases of failed Ponzi schemes such as Penny wise. While some Nigerians are extremely cautious , not wanting to have anything to do with MMM and dissuading others from doing so, others have taken the bull by the horns, ignored the risks and plunged ahead to invest their money in MMM, come rain or sunshine, no pleas or warnings can make the latter set stop as majority have benefited from the MMM largess.
 5 facts you should know before you invest your money in MMM

I wont tell you  out rightly if you should consider doing MMM or not, though I have participated once and gotten the 30 % bonus as promised, but 
before you join or if you have started already, then please know these facts.

1. Legality: As stated on the MMM site, the financial scheme is legal as there is no institution, country,financial agency or individual that has conferred an illegal status on the scheme. As long as the only transaction involved is transfer of funds from one participant to another using individual accounts, there is no harm committed. Phone numbers and account numbers are provided so participants can connect directly with another. As of now, MMM is not breaking the laws of the land.

2. Source of returns: This is the point that has got so many Nigerian confused, How does MMM makes it money? It is the mulitimillion naira question on everyone's lips. As far as I can see, there is no clear cut way that MMM makes it money except for hoping new participants continue to join everyday and old members also plough in money, am sure whoever introduced the scheme at the top is earning referral and Guider bonuses. My misgivings are just that when referrals and guider bonuses are too much and overburdens the scheme, the scheme is liable to die faster, as more people aspire to guider positions.

3. Morality: Everyone has a right to his moral and religious beliefs. Just follow your conscience and instincts to do what is right. Promoting MMM during office hours, on religious platforms or allowing it to rule your existence is detestable to me.One has the moral capacity to judge what is needful and true.

4. Any form of making money has associated risk :
Buying shares, trading in Forex, joining network affiliates marketing, gambling, sports betting, bidding for contracts or physical trade requires some risks. Only those who are willing to take the risk can benefit in the long run, stocks crash, agreements terminated, goods lost, inflation sets in, prices crashes and money is eventually lost. On the MMM site, it has been stated that you should not put in your total money but the money you can spare just to be on the safe side.

5. Time frame; Like every good thing tat has an end, MMM is not built to last for ever, When it will crash or fade out, no one knows yet, it seems as long as here are new and willing participants, the scheme will continue to run. The high percentage of Nigerians doing MMM can be attributed to the heavy recession, people are not welling to spend but save,so when the economy turns around and people are likely to spend and cut down on savings, one cant tell what will happen then.

In conclusion, looking at it from the angle that many Nigerians are looking for easy bailout and faster means of getting higher yields on their investments, one can see the lure of MMM, no need for referrals (except you cant resist the referral bonus), one just sits down, relax and watch his/her money grow and request for the accumulated sum whenever he/s he needs it.

One final word! Be sensitive and monitor the goings on. If you must join, part with money you can easily spare, don't steal from Peter to rob Paul like many bankers and unscrupulous people are doing, using customers money
, collecting loans , investing it in MMM and  keeping the bonuses to themselves. One day is for the owner, another day is for the thief.

Note : There are other similar get rich programs that are online, like get help worldwide, I charity, helping hands international (H2i), but get your facts right before you start any.