Tis The Season For Pyramid And Ponzi Schemes
Posted on Thursday, December 15 2016 01:39:00 PM in POP NEWS by Chandra Meadows
Every year around the holiday season, you may notice random pop-ups of “opportunities” to make investments.
Facebook has pretty much been the headquarters for these investment opportunities, and your friends and family members are more than likely the culprits.
Blessing Loom also known as Infinity Loom, Giving Circle, Christmas Blessing, and Snowflake Blessing, is an old scheme but seem to have reemerged with new branding. However, it still remains, it’s just another get rich quick scheme and it’s sweeping the nation.
People are basically asked to invest, or donate money in order to receive a larger return back. You also have to recruit two other people. Apparently, you receive your big return only if you recruit others, and of course they are asked to “donate” money as well.
The fact that these schemes are actually a reoccurring thing means people are consistently falling for them. If common sense was used, nothing about these pyramid schemes would seem logical. There’s no product and no service, yet you are asked to invest your hard earned cash?
On top of that, you are asked to bring your friends and family into the pyramid, so you are not only screwing yourself over but you are taking your loved ones along with you. It’s pretty interesting what people will do when they are convinced they can get something for basically nothing.
Instead of investing in pyramid and Ponzi schemes, what about investing in yourself, or even friends and family? It’s the holidays, and we all could probably use some extra cash right about now, but don’t let your itch for funds cause you to lose money.
Another scam by the name of The Secret Sister Exchange is also going around, which requires you to trade presents instead of money with the promise of receiving a bunch of gifts back. Again people, stay away from the schemes. Stop giving your money away.
Be aware and stay wise.
written by Chandra Meadows for POP ATL