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Clementine 2022-01-16 08:01:15
The modern financial system is the biggest Ponzi scheme
At present, all legal currencies in the world are part of the reserve system. How the partial reserve system works can be explained with a simple example: the
law stipulates that the deposit reserve ratio is 20%.
Xiao Ming deposits 100 yuan into Bank A, and Bank A only needs to keep 20%, which is... -
Edd 2022-01-16 08:01:15
Post-view essays
The film revolves around Madoff, the main messenger of the largest Ponzi scheme in the United States. It was originally thought to introduce how this Ponzi scheme unfolded. But the director doesn't seem to be very interested in this. But from Madoff and his relatives and friends to start the...
Neil Brooks Cunningham
Extended Reading
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Bernie Madoff: [to his 8-year granddaughter] Shut up and eat your food!
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Bernie Madoff: The advisory is a fraud. There are no investments.
Mark Madoff: What are you talking about? Of course there are invesments.
Bernie Madoff: I've made them up.
Mark Madoff: And our every statement?
Bernie Madoff: I've made them up.
Andrew Madoff: I've seen the trades.
Bernie Madoff: They're fake. All fake. Basically, just a big Ponzi scheme.
Ruth Madoff: What's a Ponzi scheme?
Bernie Madoff: I took money from some people, I gave it to others and I'll never... now there's nothing left. There's supposed to be 50 Billion, there's absolutely nothing, it's all gone.
