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March 04, 2009

Government’s Ponzi schemes

Ponzi schemes, I have read, are frauds that occur when a manipulator sells an investment to an original group of people and pays them off with money taken from a subsequent investor. The scheme continues to work until there are no more new investors (suckers) to fund the scheme and pay off those from whom money was taken earlier.

This sounds a lot like what the politicians have done to us by spending the money taken from us and leaving in its place an IOU. Those IOUs were and are major contributors to the national debt, even before all of the recent stimulus spending. They take money from the new generation to pay off the prior generation.

Our children and grandchildren will be paying for our Social Security because the politicians spent the money we gave them before we need it. The system continues to function so long as there are enough taxpayers (suckers) for the government to fleece to pay back those whose contributions were taken earlier.

Sounds Ponzi to me.

Mike Hellige
Olathe

Comments

NoMoreMrNiceGuy

SocSec is the biggest Ponzi scheme ever designed and implemented.

 
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