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A fraudulent investing scam that promises high rates of return at little risk to investors. The scheme generates returns for older investors by acquiring new investors. This scam actually yields the promised returns to earlier investors, as long as there are more new investors.
Originally posted by Le Colonel
PS.. what kind of question is why is Ponzi Scheme illegal? Does it seem legit to lie and steal from people?
Originally posted by LifeInDeath
The mathematics of a ponzi scheme are such that it can never sustain itself.
Originally posted by Signals
Originally posted by Le Colonel
PS.. what kind of question is why is Ponzi Scheme illegal? Does it seem legit to lie and steal from people?
No, of course it isn't right to lie and steal from people. The question is posed to provoke thought...which hopefully it has...you already understand it.
It's all one big ponzi scheme!
Only those in power get to choose which ones are "legal" and "illegal".
Originally posted by Crakeur
A bigger question is about Social Security.
Originally posted by yeahright
Is it fixable? Sure, but not with the mindset that brought us to this point. Which means, don't count on it.