The Great Albanian Pyramid Scheme VI

Between the fall of Communism and the rebellions that began as a result of the pyramid schemes that were rampant in Albania (1991-1997), Albanians invested a rough total of about $1.5 billion dollars in these schemes.  Yes, that's "billion" with a "B."  And, since these investments were a total loss, this means that the population of Albania lost this $1.5 billion.

     Compounding this problem was that Albania is a country with a small population - at the time of these schemes, it was approximately 3 million people.  By comparison, more people live in my city of Houston, Texas.

    So - there is a loss of $1.5 billion dollars spread out over a small population.  When you consider the people that invested in these schemes were limited to adults (since children generally do not have the money to invest in any type of schemes), it becomes even worse.  Now we are talking about a population of roughly 2 million people that lost $1.5 billion.

     The amount of money lost to these schemes, therefore, from the population as a whole is staggering.  It is no wonder that this triggered a civil war.

As always, have a great and fraud free day.

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