{"id":1204,"date":"2008-12-23T09:27:42","date_gmt":"2008-12-23T13:27:42","guid":{"rendered":"http:\/\/www.geneveith.com\/an-even-bigger-ponzi-scheme\/_1204\/"},"modified":"2008-12-23T09:27:42","modified_gmt":"2008-12-23T13:27:42","slug":"an-even-bigger-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/geneveith\/2008\/12\/an-even-bigger-ponzi-scheme\/","title":{"rendered":"An even bigger Ponzi scheme"},"content":{"rendered":"\n<\/head>

Bernard Madoff made off with $50 billion through a Ponzi scheme, which is a scam in which new investments are collected and used to pay off earlier investments. Eventually, too many people are owed money and there aren\u2019t enough new people paying in to make it work, upon which the whole scheme collapses. Ponzi schemes are illegal. But this is exactly how the U.S. government is funding social security <\/a>!<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

Bernard Madoff made off with $50 billion through a Ponzi scheme, which is a scam in which new investments are collected and used to pay off earlier investments. Eventually, too many people are owed money and there aren\u2019t enough new people paying in to make it work, upon which the whole scheme collapses. Ponzi schemes […]<\/p>\n","protected":false},"author":1281,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,19],"tags":[],"class_list":["post-1204","post","type-post","status-publish","format-standard","hentry","category-economics","category-government"],"yoast_head":"\nAn even bigger Ponzi scheme<\/title>\n<meta name=\"description\" content=\"Bernard Madoff made off with $50 billion through a Ponzi scheme, which is a scam in which new investments are collected and used to pay off earlier\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.patheos.com\/blogs\/geneveith\/2008\/12\/an-even-bigger-ponzi-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An even bigger Ponzi scheme\" \/>\n<meta property=\"og:description\" content=\"Bernard Madoff made off with $50 billion through a Ponzi scheme, which is a scam in which new investments are collected and used to pay off earlier\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.patheos.com\/blogs\/geneveith\/2008\/12\/an-even-bigger-ponzi-scheme\/\" \/>\n<meta property=\"og:site_name\" content=\"Cranach\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/cranachblog\/\" \/>\n<meta property=\"article:published_time\" content=\"2008-12-23T13:27:42+00:00\" \/>\n<meta name=\"author\" content=\"Gene Veith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gene Veith\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2008\/12\/an-even-bigger-ponzi-scheme\/\",\"url\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2008\/12\/an-even-bigger-ponzi-scheme\/\",\"name\":\"An even bigger Ponzi scheme\",\"isPartOf\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#website\"},\"datePublished\":\"2008-12-23T13:27:42+00:00\",\"dateModified\":\"2008-12-23T13:27:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/f9ca8670bcc51908a78994c0484dbfa1\"},\"description\":\"Bernard Madoff made off with $50 billion through a Ponzi scheme, which is a scam in which new investments are collected and used to pay off earlier\",\"breadcrumb\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2008\/12\/an-even-bigger-ponzi-scheme\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.patheos.com\/blogs\/geneveith\/2008\/12\/an-even-bigger-ponzi-scheme\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2008\/12\/an-even-bigger-ponzi-scheme\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"An even bigger Ponzi scheme\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#website\",\"url\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/\",\"name\":\"Cranach\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/f9ca8670bcc51908a78994c0484dbfa1\",\"name\":\"Gene Veith\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/054d79faea5d476edd8f99e5f14fb17f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/054d79faea5d476edd8f99e5f14fb17f?s=96&d=mm&r=g\",\"caption\":\"Gene Veith\"},\"description\":\"Gene Edward Veith, Jr. is a writer and retired literature professor, serving as Provost Emeritus at Patrick Henry College. 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