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Ponzi scheme

/ ˈɒԳɪ /

noun

  1. a fraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit
“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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Word History and Origins

Origin of Ponzi scheme1

After Charles Ponzi , who famously perpetrated such a scheme in the United States of America in the early 20th century
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Example Sentences

Examples have not been reviewed.

According to the Post, Trump is worried and reportedly upset to see it in the news and everyone wishes Elon Musk had never publicly called it a Ponzi scheme.

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Musk has described social security as "the biggest Ponzi scheme of all time".

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And they’re ticked off that Musk, a gazillionaire, has called Social Security a ponzi scheme and orchestrated the elimination of thousands of jobs in the agency.

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Elon Musk slanders Social Security as “the biggest Ponzi scheme of all time”; he and Trump assert that it is shot through with fraud, when it’s one of the most fiscally efficient programs in government.

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Musk has denigrated the program as “the biggest Ponzi scheme of all time,” a repetition of an ancient meme that, as I wrote, demonstrated only that he knows nothing about Social Security, and nothing about Ponzi schemes.

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Ponziponzu