Bady@lemmy.ml to Asklemmy@lemmy.ml · 1 year agoWhat are some notable scams in history that went unnoticed for so long?message-squaremessage-square391fedilinkarrow-up1352arrow-down17
arrow-up1345arrow-down1message-squareWhat are some notable scams in history that went unnoticed for so long?Bady@lemmy.ml to Asklemmy@lemmy.ml · 1 year agomessage-square391fedilink
minus-squareZodiacSF1969@sh.itjust.workslinkfedilinkarrow-up15arrow-down2·1 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-squareEfwis@lemmy.ziplinkfedilinkEnglisharrow-up1arrow-down2·1 year agoMight as well be, the patron still gets screwed
minus-squareFjaeger@sopuli.xyzlinkfedilinkarrow-up2arrow-down1·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.