Friday, July 13, 2007

I think this is the first time I'm ever blogging about anything related to investment. I might as well make it about the most controversial one as of late. Unless you've been sleeping under a rock or just plain oblivious of the current state of affairs in your country (clue: kung naiintindihan mo ako, Pilipinas yun), you should know francswiss biz is the latest pyramiding scam to blow up, causing people (i.e. stupid sheep) almost 1 billion pesos in total investment according to the NBI. works this way. You give them 50,000 pesos as investment and then, like a bank on steroids, they start cranking 4.5% interest PER DAY directly deposited to your bank account. A simple way of telling you this is they'll give you roughly 2,250 pesos worth of interest per day PLUS your initial investment of 50k when you decide to withdraw. That's roughly equivalent to a double your money in 25 days kind of event. To top this off, you also get additional money for every member you recruit. Awesome? You bet. Impossible? Damn straight. No fixed-fund investment ever returns that kind of growth unless you're investing in a kidnap for ransom gang (and even then, you can only go so far). This is where the dreams show its true form: a mechanical nightmare behind the scenes.

Where's the money coming from? The answer is in the last detail. "Every member you recruit." That means 50,000 for every new member worth of investment that can be turned into the 4.5% of the other investors (the earlier investors anyway). It's a good idea, until new members run out and there'll be no money left to pay the newer investors (or investors who want their money back) this is called the "point of collapse."

The money really isnt going anywhere other than the pockets of other people in exchange for basically the rights to rob others of their money. You can see why this is illegal. (If you can't, can I interest you in some Bahrain Dinars?)

And then it gets better.

I was browsing through PinoyExchange board and saw a thread about this "investment scheme" (read: scam). There was nothing new in the discussion, just people pointing out the obvious. And then there was somebody, let's just hide her name as Miss S.

Miss S advocates that these kinds of things are legitimate forms of making money. She knows it's a scam but that it's also a crude form of business. You gamble your money at the threat of collapse, you get money back and you can pull out anytime. Morality, she says is completely out of the question, as it's good potential if you know what you're doing and your only objective is money.

I swear, her fingers would be better justified doing handjobs than typing that advocacy of bullshit. First of all, a scam is a scam. Even if it's not your pet project, the scam you're riding is feeding off stupid people, not that I'm against stupid people being preyed on but these stupid people might be supporting potentially promising offspring (i.e. genetic freaks of nature that transcend the idiocy of their parents) that could do this country good by being educated, fed and clothed (maybe not clothed for everyone, the uglier ones anyway).

A scam is a crime. By riding it, you're being an accessory - specially when you have full knowledge of what's going on. At this point, there's no longer a question of morality here. Remember, God can only forgive sins - not felonies.

Think of pyramiding scams as riots. They're basically illegal, start out of nowhere and it's very easy to join. Sure, you can easily get away with looting during one and it's easy to shrug away the moral aspect but that doesn't change the fact where you're getting your income from. Doesn't matter what you're doing the crime for - you're committing a goddamn crime. Any justification is just excuse.

Riding pyramid scams isn't business. It's plain robbery.

There are more honest ways to earn money. Don't be a fucktard like Miss S.

No comments:


Search This Blog

Most Reading