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Ponzi scheme
/ ˈɒԳɪ /
noun
- a fraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit
Word History and Origins
Origin of Ponzi scheme1
Example Sentences
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.
Musk has described social security as "the biggest Ponzi scheme of all time".
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.
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.
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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