And if these “businesses” are not stopped the pile of victims will continue to grow.
Asking Dan to delete this thread so that these ponzi schemers can find more victims so that previous victims can maybe get a little money back is sick.
So like a Ponzi scheme ?
Or are you that swiper ?
I never said he should delete the post. I’m just offering another prespective. The goal of every business is to eventually get a good bank loan at low interest, however early on, some may need to be more creative. Hence the cc swiping, some could be swiping for 2.2% per swipe which, assuming a full billing cycle of approx 7 weeks he is paying approx 16% apr on his money, a fraction more than an average amazon loan for example. His other option would be to go to loan sharks or this companies that offer loans starting at 25% apr.
All I’m saying is, assuming he does have a secure business model and he is profitable, and let’s say all the money has been used to purchase inventory that would take him 4 months to sell through. If he is all of a sudden stuck with a massive amount of credit cards to pay off without being able to continue “churning” then it damages everyone.