Birth of the ‘Ponzi’ Scheme….

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    • #48703
      Avatarcomposite1
      Member

      Lately, discussions on the forums have leaned toward sniffing out scams and dealing with piracy. Very serious topics that should be taken seriously. On the other hand, one can use ‘Gallows Humor’ to alert people as to how scams work. Here’s an animation that apparently was intended for the “Ocean’s 13” special features but should have been around a while ago….

      Ponzi from Strike Anywhere on Vimeo.

    • #199716
      Avatar210pe
      Participant

      Boy this sounds like Amway to me…

    • #199717
      Avatarcomposite1
      Member

      Don’t it though? This was exactly what Bernie Madoff did for nearly 30 years. Part that gets me was; he could have went legit after the first couple of years and nobody would have ever figured it out. Greed overcomes brains every time it seems.

    • #199718
      AvatarRex
      Participant

      Sounds just like social security

    • #199719
      Avatarcomposite1
      Member

      Rex,

      Exactly like SS. Each generation pays for the previous one. Unemployment Insurance is the same too. Everybody thinks it’s like a bank account that they get to tap when needed. (sound of angry buzzer) Ooooh sorry, that’s incorrect. Thank you for playing….

    • #199720
      AvatarRex
      Participant

      I know, it’s crazy how people don’t or can’t put two and two together and see the intrigue behind both of those programs.

    • #199721
      Avatarcomposite1
      Member

      The part that bends me out of shape, is all the money that gets tossed in at the city, state and federal levels where does it go? Why are they always cryin’ ‘broke’ while I get to watch my little bit of cash go on top of the endless line of wheelbarrels full of loot head off to the offices of power?

    • #199722
      AvatarRex
      Participant

      These people can’t even balance a check book but year after year they say more money will fix the problem. Like giving crack to a crack head is going to sober him up?

      I tell ya’ if more people experienced being in business for themselves they would probably better understand how wreckless politicians are with other people’s money. I could go on for days about the lack of accountability exercised and exploited daily in the ivory towers.

    • #199723
      Avatarcomposite1
      Member

      “I could go on for days about the lack of accountability exercised and
      exploited daily in the ivory towers.”

      Yeah, well that’s a rant for another post my friend. But if you’ve got more info on scams and the like, ‘fire at will.’

    • #211886

      Great annimation … my wife is part of an MLM (legit), but this was a good reminder of certain structures of business.

    • #211783
      Avatarmartyds
      Member

      SS is secure through 2028.  The only ones screaming that it isn't are the Congressmen who want to freeload off it till it is gone… And then blame the people who had nothing to do with it… Seriously, facts are you do pay into a specific account and you get back exactly what you put into it.   It is paid for by the tax payers and it isn't actually a part of the Federal Governments budget at all… The facts and issues are very clearly laid out if you want to find them.  The worst part about the lies told by Some Congressmen is that they know for a fact that what they say is taken for fact by 50% + of the population because they are respected by those people who have no idea that they are being duped into thinking the exact wrong thing about an issue…

       

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