Why It's Called a Ponzi Scheme
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YouTubeHistory Abridged with Jack Rackam
Why It's Called a Ponzi Scheme
Ever wonder where the term Ponzi scheme comes from? Today associated with figures like Bernie Madhoff, it originated with one Charles Ponzi and his plan to make millions with postage stamps. Back in 1920, there was a deal where you could effectively pay for postage in one country, and redeem the value in the country you received it, where the ...
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