This is what I meant with 'compound interest'. The point is that if he keeps on buying points with his earnings, he effectively 'locks up' all his 'profit' as well as his whole 'investment' for a period of 75 days. From today, and from tomorrow, and from the day after that, etc. This means that he cannot access his cash, and should the system crash, he would lose everything. If it's not cold hard cash in your hand, or (maybe) in your bank account, it's not yours.
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zobs (22-Feb-13)
True, and I can't believe one can claim to have made money if its still not in your position...either under your bed or bank
I mean, looking at the available money on Internet system that u can not control is not something to be certain of
As much as I did join that program, I'm very realistic about the possibilities open to such types
zobs (22-Feb-13)
Buying points? What is a point? How do you manufacture a point? What do you do with a point?This is all smoke and mirrors.
Look at my earlier post and explanation of what a Ponzi scheme is.![]()
Excellence is not a skill; its an attitude...![]()
Fully agree with blurock, and its what I did.
Took a chance, got my money bak with whatever small return n went out
Otherwise I stand a chance to lose even that small money I made, there's no way of telling when this thing will collapse
Blurock (22-Feb-13)
I think I can clear that one up.
You put in R100k.
The headline interest rate advertised is 2% per day, thus arriving at R150k, but further down it states that this includes your original capital.
Ultimately it boils down to you get 50% growth on your capital over 75 days.
At least until the scheme collapses, or gets bust, or the big boss does a runner with everyone's money.
Mind you, the way it's presented does raise an interesting point, though.
Technically, the day it stops - If you'd put in R100k the day before, the scheme only owes you 2% of that i.e R2k. You wouldn't be able to claim for the R100k you put in...
Food for thought!
Participation is voluntary.
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Alexander Forbes manages pension & provident funds for some of the big employers in SA. My employer also uses them. They also use a point system. Your monthly deductions buys you points on their pension scheme at abt R250 a point. And the total number of points earns u certain returns a month or per year. A point is treated similar to a share but mainly an administration mean to know how much interest is due per person. They take ur money and invest in shares, forex, property or even bonds...
Honestly speaking, there are risks in a lot of business ventures today. The advise I always give people who want to try this scheme is to only put money they can afford to loose. But then, you withdraw all your daily earnings for the first 2 months in order to get your capital back. This is easy given that you should be making 50% earnings per month. You can then use the last 25 days of the 75 days to compound your earnings to keep playing to minimise risks as clearly mentioned by other members on this forum. But obviously you still have the first 2 months which your risk is higher. However, this scheme was not started yesterday but has 2 years or so running, so you could take comfort that no one has lost their money since, so maybe you wont loose yours. If that is still way too risky for you, then you simply dont participate.
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