The Monkey Money Madness! (MMM)
Once upon a time in a village, a man appeared and announced that he would buy monkeys for N100 each. The villagers seeing that there were so many monkeys around, went out to the forest and started catching them.
The man bought thousands at N100 and as supply started to diminish, the villagers stopped their efforts. He further announced that he would now buy at N200. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished and people started going back to their farms. The offer rate increased to N250 but the supply of monkeys became so little that it took much effort to even see a monkey, let alone catch one.
The man now announced that he would buy monkeys at N500! However, since he had to go to the city on some business, his assistant would now buy on his behalf.
In the absence of the man, his assistant told the villagers: ”Look at all these monkeys in the big cage that my OGA has bought from you, I will sell them to you at N350 and when my OGA returns from the city, you can sell it to him at N500”.
The villagers squeezed out all their HARD EARNED savings and bought all the monkeys. The most greedy ones among them even sold their lands to purchase many MONKEYS, hoping to make a huge profit without labor.
They never saw the man or his assistant. Only monkeys everywhere!
Welcome to #MMM.The world of Monkeys
January 17, 2017
Must-read: How MMM scammed the entire village
I came across this story on social media and thus it goes: