Social Security is a pure PONZI Scheme

by Michael Simone
posted on Tuesday, August 24, 2010

Gary Madoff recently received what amounted to a life sentence in prison for running a investment PONZI scheme. He bilked billions of dollars from unsuspecting investors by promising to pay high yield returns on their investments plus the security of their original investment. His problem was he never invested the money he received to pay the promised returns and offered no guarantees to do so. It was all a pyramid scheme and a vale…