After personally being a part of a gifting circle and watching what is going on with it and those persons who are looming I felt an inclination to share from as neutral a position as possible based on my observations a lot of what is happening. As with many things in our world today, many things that have been started with the best of intentions can be corrupted and used for deceit and evil, even if meant to be beneficial and helpful.
I will use the words Gifting Circle to describe what was intended and Looming to describe how the Circle is being skewed and misused. With many scams and schemes out there to get persons to give away their hard-earned money, it is hard to trust anything that comes with the promise of big returns for nothing invested or minimal invested. In many cases, this is the foundation of a pyramid or Ponzi scheme, where only the people at the top gain and benefit from everyone else below them. Which leaves many people out of their funds and money invested when the entire scheme falls apart.
The original concept of the Gifting Circle although with the appearance of a Ponzi or Pyramid scheme was not conceived to work as such. It was designed for persons to share out of their resources willingly fully knowing they were gifting to someone else and in turn helping that person with their financial situation or need. Then others within the same Circle working to do the same for each member and each newly added person. With no deception about time, it would take to work, with people you know and who care about each other so each would care to ensure each person gets the opportunity to be blessed. It was based on a concept of Trust and a desire to help build each other up.
Taking the concept of what the Gifting Circle was meant to be, has simply been corrupted into another version of a scam or Ponzi scheme, where persons are simply interested in getting quick money, with no regard if anyone underneath gains or not. Leaving persons to fend for themselves and possibly be left without any compensation and loss if the people they are working with are either strangers or simply are not motivated to work together to ensure everyone gains from the networking and resource sharing opportunity. It has become a tool for simply gaining fast money with no responsibility to one another, and in the end, the persons left behind will either get compensated or take a loss once others have moved on.
Should You Gift Circle or Loom?
The reality is regardless of which you are doing there is an honest risk you can lose your investment or donation. However before participating in either you should have a realistic understanding of how it works, the people you are networking with, the time it takes, and the fact that it is something that truly relies on trust. I would advise anyone who is getting involved to first decide if the people they to work with are trustworthy. Also, do not be lured in simply because of the fast making money opportunity ask to watch how it works then decide if you want to be a part of this or not. If you do not, it is your choice. If you decide to then I pray you honestly work with others to help one another. It is a utopian concept the world may not be ready for because it is based on trust, respect and a sincere desire to see and help others grow. Without these being the core of what is being done, the gifting circle is both corrupted and will fall apart. In a world where we seemingly are taught to only worry about ourselves and our own, this is an idea and opportunity to help one another find the financial freedom, those of the upper class have known and used for years.