Menzgold has been in business for over 5 years. We’re told that their customers number over 1.8 million with over $200 million deposit. We’re also told that the customers include pension funds, savings and loans firm, mutual funds and even banks. As to why we think this is simply about some greedy grassroots individuals, I don’t know.
And, it’s even more disturbing when this “greed” retort comes from regulators and public officials, whose job it is to prevent this in the first place. Granted that it’s even greed. Greed, so what? Is it not exactly because of greed that we set up regulatory agencies?
True, individuals can pursue Menzgold in court, trace their assets and compensate themselves from whatever they find. But when you have over 1.8 million random people as victims of a ponzi scheme, then, it becomes a little too simplistic (if not extremely callous) to summarily dismiss it as a private individual matter.
For example, who are Menzgold’s bankers, insurers, auditors, etc. What level of KYC did they conduct before accepting the Menzgold portfolio? By the time we’re through with all these gatekeepers, trust me, we would not only have enough money to significantly compensate the 1.8 million customers, we will also know that the problem is not the greed of the random 1.8 million people.
By the time we’re through with an honest inquiry, we’ll discover, as is always the case, that the problem is rather the greed of the well-connected powerful people who sit at the top of our society. Then, you’ll fully understand why the same people whom you count on to prevent or weed out such frauds are rather the ones encouraging you to cling on to this opium of a mantra called “greed”.
In all this, don’t forget that the best strategy that the few top people have always used to suppress the masses is to set them up against themselves. Now we’re told NAM 1 has even breached his bail bond. That, too, is the greed of some random individuals. You, be there and be busy calling your fellow grassroots person “greedy” and see if that will in any way change your life.
By: Justice Sai