Wrap Dont Drink the KoolAid Sis Rose Kenebrew Sis Karen Smith 7 August 2014 Ponzi Schemes How It Works F ramework of a Ponzi scheme can be applied and reapplied in countless contexts ID: 396039
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Slide1
False Doctrine
Wrap – Don’t Drink the Kool-Aid
Sis. Rose KenebrewSis. Karen Smith7 August 2014Slide2
Ponzi SchemesSlide3
How It Works
Framework of a Ponzi scheme can be applied and reapplied in countless contexts. Scheme
revolves around the process of paying old investors with the money you get from new investors. Central method remains the same. All one has to do is hook a few investors who are willing to get in early on a once-in-a-lifetime business venture. The details of the investment don't matter too much Slide4
The Trap – Wash, Rinse, Repeat
After the schemer has convinced a handful of investors to fork over money, those funds can bankroll a nice car -- or, if the schemer is truly sneaky, he or she can use it to rent office space and buy some fancy furniture.
These props will help con the next round of investors. Now, he or she is ready to find more investors. This time, the schemer takes a slice off the top for himself or herself and uses the rest to pay off the first rung of investors with some initial returns. Eventually, the second rung of investors will need its payout. This is a simple matter of
wash, rinse and repeat
: The money from a newly recruited third rung of investors can pay off the second rung and deliver more returns to the first rungSlide5
Bottom Falls Out
But as the cycle goes on, it gets more complicated. Earlier rungs of investors will get suspicious if they don't continue to see returns. New
investors will have to be paid back their initial investment, and the schemer will have to appease them with regular returns. This means that new investors will have to be added to the Ponzi scheme continuously in order to pay all the previous rungs. Slide6
Bottom Falls Out
The schemer is under an enormous amount of pressure to keep adding investors, and one person can only do so much. (This is why the most successful schemes typically involve accomplices, but this merely delays the inevitable.) The scheme will eventually become unsustainable. The upside-down house of cards the schemer has built will finally collapse.Slide7
Scenario - Paul
Paul and his wife have good jobs. However, Paul has a lot of debt, including back taxes. He has student loans, car and house debt. In desperation, he decides to utilize the an economic and investment plan recommended from his pastor.
Several members of his church are using the same economic plan. Slide8
The Plan
1st
Plan enables Paul to avoid paying all taxes and repayment of bills. He attended a few seminars Paid some fees for CDs, paperwork and legal advisors.2nd
Plan
involves Paul initial investment of
$500 given
to his pastor. Paul receives
$150
for every person he gets to invest $500 to the pastor’s economic plan. He will receive $150 for each $500 donated for the rest of his life as long he keeps getting other investors. Slide9
Scenario - Paul
Paul donates money to the church and helps a lot of people with the money he saves. He has never been contacted by the FBI regarding use of this financial plan.Slide10
Analysis According to the Word
Deuteronomy 15 - Jubilee1At the end of every seven years thou shalt make a release.2 And this is the manner of the release: Every creditor that lendeth ought unto his neighbour shall release it; he shall not exact it of his neighbour, or of his brother; because it is called the
Lord's release.Mercy and ForgivenessAnd forgive us our debts, as we also have forgiven our debtors. (Matthew 6:12) Slide11
Analysis According to the Word
Ecclesiastes 8:11-1311 Because sentence against an evil work is not executed speedily, therefore the heart of the sons of men is fully set in them to do evil.12
Though a sinner do evil an hundred times, and his days be prolonged, yet surely I know that it shall be well with them that fear God, which fear before him:13 But it shall not be well with the wicked, neither shall he prolong his days, which are as a shadow; because he feareth not before GodSlide12
Analysis According to the Word
Re: Repayment of bills and debts “Better is it that thou shouldest not vow, than that thou shouldest vow and not pay” (Ecclesiastes 5:5)
Re: Paying Taxes20 And he saith unto them, Whose is this image and superscription?21 They say unto him, Caesar's. Then saith he unto them, Render therefore unto Caesar the things which are Caesar's; and unto God the things that are God's. (Matthew 22:20-22)Slide13
Analysis According to the Word
There are legal methods of debt relief, which should not be abused: Forgiveness by individuals or organization Bankruptcy
Slide14
Wrap-Up
Tips and WarningsSlide15
Purpose of Lesson
Warn Saints of false prophets and teachingsPrevent Saints from drinking the Kool-AidExpose false prophets and teachings
False prophets are preying on Saints and young peopleAwareness of new and old false teachingsEnhance ability to identify false prophets and teachings
Sound the Alarm
!Slide16
Don’t Drink the Kool-Aid
Remember Jim Jones
Jim Jones, the leader of the group, convinced his followers to move to Jonestown. Late in the year he then ordered his flock to commit suicide by drinking grape-flavored Kool-Aid laced with potassium cyanide. In what is now commonly called "the Jonestown Massacre", 913 of the 1100 Jonestown residents drank the Kool-Aid and died.Slide17
Why People Drink the Kool-Aid
"For the time will come when they will not endure sound doctrine; but after their own lusts shall they heap to themselves teachers, having itching ears; And they shall turn away their ears from the truth, and shall be turned unto fables (2 Tim 4:3-4).Slide18
Beware!
Be suspicious of anyone claiming extra-biblical revelation from God.Slide19
Traits of False Prophet
2 Peter 2:1-21Exalt themselves and pretend lifting up JesusCovetous and Money hungry Walk after the fleshTeach and preach against living free from sinSlide20
Hate God’s Word = Truth
The primary characteristic of false teachers is that they hate God’s truth and therefore they use their teaching to undermine it. Like Ezekiel, we should be quick to call out such teachers.
The protection and health of Christ’s church demands it.Slide21
False Prophets
Christ tells believers in Matthew 7:15 to beware of false prophets and warns they will come to us disguised as believers. They will outwardly appear to be His followers but inwardly they are “ravenous wolves” seeking to destroy the flock. Slide22
Traits of False Prophets
Follow their own spirit rather than God. Today we might say they take Madame So and So’s advice and follow their heart rather than the scriptures.Claim God has spoken to them or through them when He has
not. In Ezekiel’s day this meant claiming to hear from God outside His chosen channel of revelation – His prophets. Slide23
Traits of False Doctrine
Does not line up with the Word of GodNot in the Word of GodCauses division among the SaintsConflicts with personality of God and ChristConflicts with other scripturesSlide24
Traits of False Doctrine
Exalts the self rather than ChristDoctrine attached to money Doctrine equates another person on same level as ChristRevelation or Vision does not coincide with the Written Word of God. Slide25
Traits of False Doctrine
Advocate a different set of beliefs other than what the Word of God teaches
Unsound words : Interpretation of the Word is changed to unscriptural ideas Teachings that promote a lifestyle of ungodlinessTeaches dependence on intellect, human abilities and accomplishmentsSeeks to create division through disputes about the Word and create followers of self rather than Jesus Christ.Teaching that displays a form of godliness but is motivated by Slide26
Other Gospels
Prosperity - Gospel of Earthly Wealth and HealthMotivational – Feel Good GospelHumanism - Emphasizes the value and actions of human beings, individually and collectively, and critical thinking and evidence over established doctrine or faith. Slide27
Materials Available
False Doctrine and Teachings Study GuideTips and Warnings of Fraudulent PlansTo request materials contact: Sis. Karen Smith at
4jcconsulting@gmail.com .