Charles Ponzi was born in Italy on March 3rd, 1882. He was an Italian Swindler and con artist who operated in the US and Canada! He invented the Pyramid scheme where by if you got in early into his scheme you did pretty well but if you came in late you were taken to the cleaners and lost everything you had invested wth him!
Today legal Ponzi Schemes would include Social Security and Medicare in America, while in Ponzi’s home country of Italy they are offering money to their younger generation to make more babies! The reason is that for those who got to retire early at 62, require increasingly more taxpayers to help finance their retirements! Eventually those who are doing this will discover that the people who got into this retirement Ponzi scheme early have drained it completely, leaving nothing for future retirees.
And that is all I’m gping to say about that!
