Is it greed or stupidity?

Pyramiding scam (Illustration: Shirly Yvonne Lilang)


Where in this world you could find an interest rate of 40 percent in just a matter of days?

Common sense dictates that investment companies who are into real business could not afford to offer the sky high interest rate more than the banks and other financing institutions.

 

According to Max Vice President for Asia Joey Sarmiento in an article published in Philippine Daily Inquirer, pyramiding is illegal because it is a money game. Profits are derived primarily from participants’ entry fees, and the income is dependent on the participants slot or position within the organization rather than the ability to sell the products or services.

 

Pyramiding is a hot topic nowadays because it affects, and has affected the lives of many people regardless of their social stature. The promise of “quick and easy” monetary gain usually hits the greed innately in deep slumber of our being.
There is a psychology behind the pitch. There’s a common admonition “If it sounds too good to be true, it probably is,” and there this no bright line figuring between “good” and “too good.”  Investment fraudsters have
developed tricks perfected through times.

The investment fraudsters are masters of persuasion. They tailored their pitch to match the profiles of their possible preys. They look for Achilles heel by asking benign questions and once they spot which buttons to push they will release their tactics which even the erudite comes in the trap.

We all dream of a good life for ourselves and our family. But there is no short cut to being rich. God’s word reminds us, “He who works his land will have abundant food, but the one who chases fantasies will have his fill of poverty.” (Proverbs 28:19). Easy money is a fantasy.
Let us enjoy the fruits of our labor.

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