Carlo Ponzi, Alias Uncle Sam by Gary North

Posted: November 3, 2012 in Uncategorized

Every Ponzi scheme involves five elements:

  1. A promise of statistically impossible high returns
  2. An investment story that makes no sense economically
  3. Greedy investors who want something for nothing
  4. A willing suspension of disbelief by investors
  5. Investors’ angry rejection of exposures by investigators

Strangely, most Ponzi schemes involve a sixth element: the unwillingness of the con man to quit and flee when he still can. Bernie Madoff is the supreme example. But Ponzi himself established the tradition.

http://burndownthefreakingmission.com

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