Saturday, November 6, 2010
Magnetic Money Miracle
I am not a legal expert. However, it seems that the Magnetic Money Miracle opportunity on the internet is a Ponzi scheme. It entails investing several hundred to several thousand dollars. You then send out postcards trying to recruit others for this opportunity. They then send you their investment to sign up. A Ponzi scheme is defined as a company that pays their investors by their own or someone elses investment not on the company profit. Now if I am correct this program Magnetic Money Miracle is not actually making a profit. Now you may be able to do well with this opportunity but is it worth your freedom? You would also need a lot of upfront money as well. If anyone disagrees with me then please let me know. Tell me how this isn't a Ponzi scheme or even cash gifting? The only thing I am seeing that is different between this and cash gifting is that investors can send you a cashiers check. Also when I saw their ad in the home business magazine the number they told you to call this time didn't even mention the Magnetic Money Miracle. So that's a bit sketchy as well.