A Quote by Bernard Madoff
The whole government is a Ponzi scheme.
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No Ponzi schemer tells anyone exactly how it works. The purpose of a Ponzi scheme is to trick people, to take the money and run.
The financial system as a whole has had the characteristics of a Ponzi scheme if we look at it fundamentally.
Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.
Madoff Securities is the world's largest Ponzi scheme.
The welfare state may be well-intentioned, but it is a Ponzi scheme
Washington treats Social Security like a Ponzi scheme.
Social security isn’t a ponzi scheme. It’s not bankrupting us. It’s not an outrage. It is working.
The federal government has made explicit and implicit promises to millions of people, but has put no money aside in order to keep those promises. Some of you may wonder where Bernie Madoff got the idea for his Ponzi scheme. Clearly he was studying federal entitlement policy.
In a Ponzi scheme, a promoter pays back his initial investors with money he has raised from new investors. Eventually, the promoter can no longer find enough new investors to pay off the people who have already put up money, and the scheme collapses.
Our oceans have been the victims of a giant Ponzi scheme, waged with Bernie Madoff-like callousness by the world's fisheries.
The only reason there is a crisis about Social Security in the US and pensions in Europe and Japan is that you cannot maintain a "Ponzi" scheme indefinitely. We have collected from today's young to pay today's old and counted on tomorrow's young to keep doing so. That was a fine scheme as long as the number of young people was rising faster than old people. When that ratio comes to an end, such a system also has to end.
The retirement age needs to be raised. A portion of Social Security ought to be privatized, if not all. And there probably needs to be some means testing. It's a Ponzi scheme that's not sustainable.
We do not live in an economy, we live in a Ponzi scheme.
The combination of Ponzi's huge personality and the enormous if brief success of his scheme, combined with the tremendous publicity which surrounded it, is ultimately what attached his name to it.
People say it's a Ponzi scheme, it's a bubble. People really don't want to take it seriously. At some point, that narrative will shift to 'virtual currencies are here to stay.'
There is no quick way of making money. People come to you with tips for the races or offer the latest Ponzi scheme, but I can see them coming a mile off. I just go with the adage that if it sounds too good to be true it probably is.
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