I think it is imperative for agencies and individuals to research before making g g unguarded speeches and comments. I read the SEC's comments on MMM and would like to respond as such.
1. MMM is a scam!
MMM is successful for over 4 yrs in over 100 countries. What kind of scam spreads as such? You only need to search youtube using "MMM pays" to see Millions of testimonies.
MMM is successful for over 4 yrs in over 100 countries. What kind of scam spreads as such? You only need to search youtube using "MMM pays" to see Millions of testimonies.
2. Is it Legal?
MMM is not a company/bank etc. It is a community of people helping each other with their own money from which taxes have already been paid. No law forbids people from sharing their own money. If there is one such law, i am yet to come across it.
MMM is not a company/bank etc. It is a community of people helping each other with their own money from which taxes have already been paid. No law forbids people from sharing their own money. If there is one such law, i am yet to come across it.
3. Is it a Ponzi scheme?
Unlike ponzi schemes, MMM is open and clear about its operations and processes. Participants are the only source of financial aid to other participants. it is peer-to-peer. No guarantees and this is clearly communicated to participants. There is possibility of not getting hep despite the fact that you have provided help.
Unlike ponzi schemes, MMM is open and clear about its operations and processes. Participants are the only source of financial aid to other participants. it is peer-to-peer. No guarantees and this is clearly communicated to participants. There is possibility of not getting hep despite the fact that you have provided help.
4. Is it a pyramid?
MMM works with the same principle as banks, insurance companies and pension funds. Whatever you wish to call those, same applies here.
MMM works with the same principle as banks, insurance companies and pension funds. Whatever you wish to call those, same applies here.
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