A Quote by Harry Markopolos
Madoff Securities is the world's largest Ponzi scheme.
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Our oceans have been the victims of a giant Ponzi scheme, waged with Bernie Madoff-like callousness by the world's fisheries.
There are tons of examples of U.K. and European mistakes. A classic one is pensions. That's obviously not an America-specific thing. The British and European economies are suffering under the weight of what is to come. The next great Ponzi scheme after Madoff is probably pensions.
If the American public were accurately polled, I suspect the results would find Bonnie & Clyde, Bill Clinton, Ponzi Scheme scamster Bernie Madoff, and the infamous Wily Coyoteto be believed to be more honest and trustworthy than Hillary Clinton.
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 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.
Madoff's scam was small compared to Ponzi schemes the government itself runs: Social Security and Medicare.
Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.
The whole government is a Ponzi scheme.
Washington treats Social Security like a Ponzi scheme.
The welfare state may be well-intentioned, but it is a Ponzi scheme
Social security isn’t a ponzi scheme. It’s not bankrupting us. It’s not an outrage. It is working.
Organized religion: the world's largest pyramid scheme.
The financial system as a whole has had the characteristics of a Ponzi scheme if we look at it fundamentally.
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.
The tallest building in the world is now in Dubai, the biggest factory in the world is in China, the largest oil refinery is in India, the largest investment fund in the world is in Abu Dhabi, the largest Ferris wheel in the world is in Singapore.
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.
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