It's been almost 2 years since I wrote something on this blog but I just wanted to share some of the Filipino Traits that need to change most especially in deals with financial matters.
Just so you know, I'm now a full-time businessman and I already getting through these different ways on how to gain money and it's really hard. But since the KAPA Ministry and other investment schemes in the Philippines are one of the very hot topics, I would also like to share my thoughts on why is it "easy-money" investment schemes are very popular here in the Philippines.
But before I will get deeper on my explanation, just a disclaimer that I'm not AGAINST to KAPA or any other investment companies I'm just expressing my own opinion about the said matter.
Now, let's go back to the real issue. President Duterte demands some of the government agencies to investigate and asked for the legal documents as well as the financial statements of these investment companies. And since most of them promised to give each member interest to their share capital of not less than 30% every month, many Filipinos easily get interested in the said investment schemes. In which I can't blame the Pinoys why they are so much into "easy-money" investments.
Just a refreshment, last 3 or 4 years ago, I also join to a Networking Company that promises a good return if you just give your best effort to gain such ROI. But unfortunately, I stopped. Why? Because I realize that - yes, there's no problem with networking because it's like with any other types of business in the market, however, I also realize that, giving a promise to a specific person that his/her life will soon change just because of joining such company is like a "Fraud" to me. Because giving assumptions to a specific situation that IS STILL NOT YET HAPPENING, is like giving a promise of money but all you have in your pocket is candy. There's a product, but everyone knows that the product is just the front-line of the business, it is just an accessory to the whole truth, just to make the system looks-like perfect in the eyes of the people but the reality really is, it is the business model, which is Pyramiding or what they formally label as Networking. There's also a promise of helping one another so that no one will be left behind, but what? that is not the business model is trying to show. It is very clear that the person in the above position, will be the one who will be get benefited compare to others and I think that is something that needs to go over.
It's just like what happened to KAPA members, where there is a promising interest or what they call as blessings that the members will get every month. But how did they do that? That is the big question. Well, some of the people would say, maybe they invested it in cryptocurrency trading just like Bitcoin, or maybe on the stock market - I would say that is possible but that is too risky! Remember, the cryptocurrencies and the stock market are always changing, sometimes you can earn a really good return but there's always a time that you will be at loss. Because no one can forecast the trends of these different investment platforms. And if they will say that they have businesses to support such an investment model, so meaning, everyday the business can produce more or less 50 Billion per day? That is totally ambitious. The government just wants to know how will these companies fulfill their promises. Because no matter how good are you in computing, you will never know how will these companies sustain such high returns.
And the sad thing, Pinoy's are buying it and these companies are very brave because they use the people to talk on their behalf. Yes, I can see some of the companies' spokespeople on the television but why they cannot give a straight-forward answer, where and how did they use the investments of these people. And since Pinoy's love an "easy-money" investment, it is not surprising on my part the Pinoy's will be the one to ask the Government to give the freedom to them. In addition, also, Pinoy didn't even realize that the government really needs money through taxes and if people will not pay what is due to them, how will the government sustain the projects? How about the free tuition in college? How about the renovations and building of new schools? How about making roads and bridge projects? Where will the government get this?
Ladies and Gentlemen, let's not blame the Government, blame ourselves because we always wanted to involve ourselves in a bigger problem. I think Pinoy needs more financial literacy so that everyone will be enlightened. As many people would also say that these companies are helping the poor Filipinos, to be honest, these companies are more helping these big businessmen. How? Because the real poor could not even afford to buy their own shoes and dresses, how much more investing in thousands? But what about these big businessmen? They can invest up to Millions and they can live most out of their money, but how about you? For sure, some of these investors borrowed money to their families or known friends just to give an investment, and I think it's not helping the poor.
So that's all in my opinion.
How about you? What is your opinion? Let me hear that from you. Write in the comment section below and subscribe to my blog.
Thank you and God bless Everyone.
