The worst thing about history is that every time it repeats itself the price goes up.
And now it’s Php12 Billion and counting!
So victimized by scams and Ponzi schemes. The recent one is terrible. My heart goes out for them. Why do things like these keep on repeating? Please give me your thoughts and opinions.

10 thoughts on “

  1. Juvy

    Hi there Sir Francis,

    I guess maybe because there were people who are gifted of a sweet tongue and a great convincing ability that’s why they could easily persuade people. Secondly because theres a lot of Filipino who wanted to gain a profit in an instant way, analyzing the situation is not in their objectivity, what is important is how they can profit.

  2. ruperto nambio

    Some of the reasons why people fell into scams like the 12billion php and counting are:
    lack of understanding how ponzi schemes works
    no studying and verification has been made, just follow the herd, we are people of “gaya gaya” attitude (no questioning) Human greed plays an important role too.
    The truth is: not only one profitted, but many—the ones close to the top. Sorry for those on the bottom line around the 15K individuals lost their money. The saddest part of the story, someone killed himself because he cannot bear the pain of losing.

  3. Eric L. Madrinan

    Hi Francis. I think bottomline people are non financially literate that is why they are easily lured into this kind of scheme. Had they been educated how money works in the market then probably they won’t get into this.

  4. Robel Ramos

    hi sir Francis,

    Mr. Nambio is correct, and if I may add, had these people invested on reading and/or watching news or they would have known it from the start that schemes like these are dubious..these things had been shown, reported in newspapers, TVs and radios.

    Robel

  5. carol amantillo

    i believe we are enticed because of our greed (sad to say)…when we see something offered to us that it is too good to be true, then it must be…and the best thing to do is to turn our backs on them…there is no such thing as get rich quick…financial literacy will really help but the best thing to do is pause and pray, consult the bible before making major decisions

  6. Angelo

    It is bound to happen again in the future – there will always be somebody who wants to make fast money and there is always somebody who can sweet-talk.

    Good authorities and media are visible in this recent scam – there are some similarities with a more legal scheme called CAP Educational Plan – never heard from authorities and media on this. This CAP had somehow resulted to lost of better educational opportunities to a lot of students, and woes to many parents who placed savings for their childrens’ future.

  7. Andot Renegado

    The very root cause of this is Greed. Once this greed occupies our heart and mind we lost consciousness. It is like a disease that paralyze us!

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