Comment: The Ponzi scheme of SS is even worse than a Ponzi scheme.

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SteveMT's picture

The Ponzi scheme of SS is even worse than a Ponzi scheme.

Charles Ponzi had to entice participation into his fraud. People could just say no. With Social Security, this is a forced Ponzi scheme. We don't have a choice, and cannot opt out.

You are right. Fiat leveraging more fiat is still just fiat.