GMI (Goldmine Int) is it a Scam?

GMI is still alive? I'm a member since like 2 years or something. No it is not a scam, but I just do not think it's successful in Lebanon. I joined when it first started and I had to pay 600$ to join. I did not make any money out of it because the people I know are sort of "broke" lol. They liked the idea, but they didn't have enough money to afford it. Plus my upline (the one above me in the "tree") was too damn lazy and definitely not someone you want to work with. So I ended up quitting after some while.

I could tell you that some people I know who joined before I did were making some really good money. One of them was making around 3500$ per week (he is actually an Iranian guy called Hamed, he's the one on top of the tree in Lebanon). He was studying in AUB and is extremely rich because of GMI. He was very poor and had lots of debts when he first came to Lebanon, but GMI saved his ass. You gotta give the guy his credit though, he used to work at least 16 hours per day until he got GMI working in Lebanon. I attended some meetings in which he talked about his experience and everything, the guy is great!

If you want my advice: Do not join, you'll only waste your time.

Google pyramid scam. And yes its a kind of scam, illegal in most respected country.

Hmm my story is good about that: When i finished school my friend suddenly became more friendly, so he wanted me to meet him in one place near Hamra and i did then he talked about the "Job" in which i felt he didnt understand. So another time he asked me to meet him in Hamra but this time with a person who works there i went but that person never came then i told my friend that i dont want the offer anymore becasue i dont like the way of gaining and I'd prefer buying shares than doing that. Two years later one of my friends wanted to go to Ashrafieh to meet someone for unknown reasons so he asked me to come and i did then that guy told us to come to Duncin Donuts, when we entered there was a table filled with like 6-8 persons from my university talking. Then one of them started to talk vaguely about the job of paying blah blah..etc. Then i knew they were GMI but didnt say so i insisted that i wanted to go to my students becasue i have no phone to tell them i am gonna be late, they tried to lure me in but didnt succeed.
Thats my story then with some research i have found that in Lebanon one of the religious figures said that this is Haram to do it then suddenly it is ok, i cant go deep into that here but i can say you'll get the money they promised but thats it nothing more.
P.S: when my friend in school first offered me to join he told me about the name, and i was already looking for a job so i needed some cash but i refused his offer.

It looks like a scam but it might not be one, still not the way I would like to make my money, but anyway, I don't have much to tell you except someone tried to drag me to one of these meetings but I refused. I try to tell myself that it's a scam but I have to say I am curious about this thing :)

I always ask them where do all the money go and what is this company its history you know some questions, no one answers or knows the answer.

Pyramid schemes are illegal in most countries for a reason. It's not a scam, but if it's illegal in most countries, there's a reason for it.

Ditch it and have your luck with Google AdWords :p

kareem_nasser wroteI always ask them where do all the money go and what is this company its history you know some questions, no one answers or knows the answer.

That means the guys you're asking are not knowledgeable. The company started in Norway as a company which sells jewelry. Then, in order to increase its sales, it used Network Marketing as one of its marketing channels (it is not a pyramid scheme or any of that - pyramids = scam).

@ Flakk, basically you buy from the company with a certain amount of money. When you do so, you get an online account which allows you to add clients beneath you in the "tree". Those clients eventually end up being network marketers just like yourself, and so on. I'm not sure about the current rules now, but in the past it used to be like that:
* 1st person beneath you on the left side, and 1st person beneath you on the right side: you get 300$
* from there and on, every 3 new persons on the left WITH 3 new persons on the right: you get 300$
There are several payment methods, but at that time, the only payment method available in Lebanon was in cash. Hamed (the Iranian guy) used to order the money (upon request) from the company in Norway. And then he would distribute the money in cash.

The bottom line is that it is NOT a scam, but considering the fact that you only need to pay 71$ to join now, I say it would probably take you up to two years before you could start making serious money. And keep in mind with 71$ only, it means you're only opening 2 sub-accounts which means the maximum amount you could make per week is much less than 4200$ (or something around it - this could be achieved weekly if you open 10 sub-accounts with 600$). At a certain point in time, after you have developed a huge tree/network below your level, you could simply resign while the money flows into your account.

Again, if it were in an other country different from Lebanon I would tell you go for it. But from my personal experience, I just do not think it's worth spending your time and effort on it. And believe it or not, this is NOT a "get-rich-quick" scheme. It requires a lot of hard work, dedication and self-development if you really want to make money like the big guys (Hamed, Abdallah Hojeij, Ali Hmede... and many others).

Flakk wroteBut when they were explaining it to me he did not refer to pyramid but to binary.

Anyways im gonna stay away but im still gonna go on finding the scam or the fraud they are doing.

Exactly, it's a binary scheme and there's no chance of collapse or any of the shit that happens in a pyramid or a matrix scheme. It is not illegal and it is simply a form of marketing that is used in several other companies. Believe it or not, even when you're at the point where you're making 4200$ per week the company would be making much more than that as a result of your work.

Kassem wroteThat means the guys you're asking are not knowledgeable. The company started in Norway as a company which sells jewelry. Then, in order to increase its sales, it used Network Marketing as one of its marketing channels (it is not a pyramid scheme or any of that - pyramids = scam).

Well they are like guys who have been there for 1 or 3 years shouldn't they know?
As if this is a kind of Fraternity or a cabal.

It is definitely a scam. I used to preach my friends at university, you should leave this, you're either going to lose your money, or make someone else lose theirs. Think about it: you're paying to work!
The litmus test for a scam is to ask the person presenting you: 'Can you receive the goods you paid for'. Can everyone receive those goods too?

kareem_nasser wroteWell they are like guys who have been there for 1 or 3 years shouldn't they know?
As if this is a kind of Fraternity or a cabal.

The guys at LIU used to be my uplines. They're stupid as fuck! I do not expect them to know anything.

Flakk wroteI get it now.
But why do you say its a waste of time ? what are the reasons ?

Well, read the comments in this thread. The mentality of Lebanese people cannot accept the fact that this is NOT a scam, and it is simply a form of marketing. That's why you'll have a hard time trying to convince people into it which will hinder your profits.

arithma wroteCan you receive the goods you paid for'. Can everyone receive those goods too?

Yes you can. Initially you open sub-accounts which are worth 30$ each. Then once you start making money, this money adds up in your account. You have the option to either withdraw all or part of the money, or buy products using this money. I've seen a bunch of guys receiving their products.

You have to understand the bigger picture. Google Ponanzi Scheme. No scheme is a pure one if it's a modern one.
What is the 'value' of this company? What do they produce. From where are they buying and what are they selling. It is evident to me they are selling dreams of wealth. This means a lot of people will make a lot money, and a lot will lose it. The higher you are up the upline, the more guilty you are :)

What are they buying with $71? Is it worth the money?