Pyramid selling, sign of the times

Thursday, January 21st, 2010

According to the Mehr News agency the government has closed down fifteen major pyramid selling schemes in the last three months. With their ‘get rich quick’ promises these unsustainable schemes are a sign of the times in Iran. Unemployment runs at about 12%, inflation at around 13% and house prices are rising far more steeply than wages. Pyramid schemes are illegal in Iran, as they are in most countries. They are scams. You pay an expensive fee to be enrolled as a ‘business’ partner, and told you will get your money back, and much more, as you recruit others, and as they go on to recruit others, so you get a ‘cut’. The only people who usually make any money are the ‘pharaohs’ right at the top. A government official has warned that those found guilty of launching these schemes could face harsh punishment for being ‘a corrupt person on the earth.’

Pray for

  • Success for the government in exposing pyramid scams
  • Wisdom for those in charge of ensuring the economy delivers jobs and low inflation
  • Christians to keep away from the desire to be rich, as instructed to by Paul (1 Tim. 6:9)