Bady to [email protected] • 1 year agoWhat are some notable scams in history that went unnoticed for so long?message-square320fedilinkarrow-up1363arrow-down17
arrow-up1356arrow-down1message-squareWhat are some notable scams in history that went unnoticed for so long?Bady to [email protected] • 1 year agomessage-square320fedilink
minus-square@[email protected]linkfedilink16•1 year agoThat’s not a Ponzi scheme. Sorry, but this misuse of the term really grinds my gears. A Ponzi scheme is a specific scam promoted as an investment, but in reality the payouts made to early victims come from the incoming money paid by new investors.
minus-square@[email protected]linkfedilinkEnglish-1•1 year agoMight as well be, the patron still gets screwed
minus-square@[email protected]linkfedilink1•edit-21 year agoWhere is social security pitched as an investment? Edit. Now that I think about it, government retirement funds actually kind of fill those requirements. At least where I live.
That’s not a Ponzi scheme. Sorry, but this misuse of the term really grinds my gears.
A Ponzi scheme is a specific scam promoted as an investment, but in reality the payouts made to early victims come from the incoming money paid by new investors.
Might as well be, the patron still gets screwed
Aka social security…
Where is social security pitched as an investment?
Edit. Now that I think about it, government retirement funds actually kind of fill those requirements. At least where I live.