Ponzi Scheme

<p>A Ponzi scheme is not merely a financial crime. It is a philosophy of false acceleration.</p><p><br></p><p>The term comes from Charles Ponzi, an Italian immigrant who became infamous in the 1920s in the United States. He promised people extraordinary returns on their investments in a very short period of time. He claimed he had discovered a way to profit from international postal reply coupons — buying them cheaply in one country and exchanging them for higher value elsewhere.</p><p><br></p><p>The idea sounded intelligent. The profits sounded irresistible.</p><p>People invested. Want to know more? Enjoy today&#39;s episode.</p>