These pyramid schemes, about which we have been discussing began to unravel in 1997. Remember - of a total population of 3 million, about 2 million were involved with the pyramid schemes ("involved" = investors). And remember as well, the losses were $1.2 billion dollars. Dividing that number among the number of investors gives an indication of the monumental losses per capita to the population.
On March 1, 1997, in the face of massive demonstrations from angry Albanians who lost their life savings in these schemes, Prime Minister Aleksander Meksi resigned and on March 2, President Sali Berisha declared a state of emergency. Protests continued to spread throughout the country, however, and the Albanian military was unable to stop the revolts.
By the end of the month, the security situation had completely deteriorated. The southern part of the small country was in open revolt and in the hands of criminal organizations and gangs. The northern part was engulfed in violence but still under government control.
This out-of-hand situation was started because of massive pyramid schemes. This was not the first time in history that fraud brought down a government. But, it was one of the few times that it led to a civil war. Food for thought because as I write this, the "Occupy Wall Street" protesters are still going strong, presumably in response to the American economic situation.
Have a great and fraud free day.
http://www.tauskvega.com
-------------->>>>>>>>>>>>>>gene tausk
On March 1, 1997, in the face of massive demonstrations from angry Albanians who lost their life savings in these schemes, Prime Minister Aleksander Meksi resigned and on March 2, President Sali Berisha declared a state of emergency. Protests continued to spread throughout the country, however, and the Albanian military was unable to stop the revolts.
By the end of the month, the security situation had completely deteriorated. The southern part of the small country was in open revolt and in the hands of criminal organizations and gangs. The northern part was engulfed in violence but still under government control.
This out-of-hand situation was started because of massive pyramid schemes. This was not the first time in history that fraud brought down a government. But, it was one of the few times that it led to a civil war. Food for thought because as I write this, the "Occupy Wall Street" protesters are still going strong, presumably in response to the American economic situation.
Have a great and fraud free day.
http://www.tauskvega.com
-------------->>>>>>>>>>>>>>gene tausk
No comments:
Post a Comment