Charges laid over alleged ‘crypto mining’ Ponzis that netted $8.4M
Various creators and promotors of two allegedly fraudulent crypto companies are facing a litany of charges that could land them 20 years in jail.
On Dec. 14 the U.S. Attorney’s Office for the Southern District of New York unsealed the indictment, alleging the purported crypto mining and trading companies IcomTech and Forcount promised investors “guaranteed daily returns” that could double their investment in six months.
That's not a ponzi! lmao
So... the greed of the founders may land them in jail, and the greed of the users lands them broke. Oh well; live and learn.
HSI Special Agent in Charge Ivan J. Arvelo said: “The excitement around cryptocurrency and the potential to make huge profits attracted would-be investors to the alleged schemes run by the individuals indicted today. With high end clothes and cars, these individuals are alleged to have presented a life of luxury to potential investors, but instead of a lucrative investment opportunity, the victims were fleeced of their savings and left with nothing to show for it. Homeland Security Investigations works tirelessly to uncover financial crimes and bring perpetrators to justice.”
HSI only work "tirelessly" against certain individuals - never their paymasters.
Like any financial construct, one can make money trading ponzis, so long as you know they are such. Dip in, dip out, thank your lucky stars it hasn't crashed yet, then move on. That's it; that isn't hard, is it?
Ponzinomics has some interesting mathematics ;-)
It's a game of chicken.
https://en.wikipedia.org/wiki/Chicken_(game)
hehe, state forced social security systems relying on constantly growing population (which isn´t growing) are Ponzi´s, and state driven currencies wich only rely on ever growing debt are Ponzi´s ;)
So behind every corner there is a Ponzi and hey most of them are State driven, so beware of the Ponzi or start your own maybe its the better one !
Redistribution itself is not necessarily a ponzi - the scam of the ponzi is the promise of a net-positive outcome when, in reality, it is nothing more than a zero-sum game.
Many years ago, when Thatcher was scamming the UK by lowering headline taxes while, at the same time, increasing National Ins tax (and selling off state assets), I was disturbed to find that the "pension fund" had no fund whatsoever! Was designed that way! Shit, I thought - if they had a brain they'd have slowly built a fund (like OLympus DAO is a surface ponzi trying to build a real fund) - there are enough actuaries in the UK! Looked to me as built to fail - it would either suck in more taxes or create more debt - or both.
if they would redistribute something that would be ok, but when I speak about that thing I mean Germany and believe me, they ran out of money in the late late 90´s since then they try to pull out the monthly payments which comes from the companies where the employees work weeks earlier then before, now we reached one and a half month (so 6 weeks) due before the working month is done, and anyway the money what comes in the pool will left in the same second for the rent of one of the retired worker.
A solid system doesn´t look like that !?
And keep in mind in the 80´s and 90´s the population had a weighted age of 25 to 35, now it´s 50 to 60 and even worse the population ist shrinking before it was 1,5 to 2 working peeps against one pensioneer, today it´s 2 Pensioneers on 1 worker and it will go even more down so this will never work out, not with negative or under 10% interest in Assets, haha and they only allowed to held 5 to 10% in shares, the rest must be secured assets like "state owned or issued bonds" and precious metal, no property...
Thats a big black hole and you are forced to pay in when you are not working as a self empolyed one, even if you are self employed there is some kind of business where you also have to pay in but you wont get 5% of that back, so what the hell is that, this is an official State-Ponzi ripping off the guys what pays them their salaries
no property? for pension funds?
but that's the only asset left, imo! the whole 100+ years of bankster debt-loaded fiat has been a scam to turn ledger entries into land.
Here they havent yet surveyed the whole country - some wiseguy with guns and a lawyer can just take ownership of whole tracts of land.
Another vector is that gov debt has huge social costs but is not the largest global debt - that's in derivatives. So, i think the "reset" into CBDC will wipe out that debt. For the sake of "stability" let's pardon all debts. lmfao.
hehe, yes I´m on your side, we (me and two of my former partners) tried for 15 years to implement them porperties in a regulatory framework for pension funds wich will be than officialy approved, but that didn´t happen the only thing we could do was to iplement the properties to closed pension fund solutions e.g. from a huge company or an assaciation of parts of an Industry or a framed sector of freelancers, but you don´t have any bonus from the state, nor the guaranty that they afterwards won´t call for a part of the gains earned with it as an extra tax, its a shame !
And about the CDBC´s I have my doubts that something will be wipes out for the normal peeps, we in Germany had a few monetary explosion hyperinflation, hyper recession, complete change of system 3 times and two times extra burdens for all porperty owners as a special and additional tax they had to pay even if there property wasn´t used to credit a part of it, they than got a loan deed with the state to compennsate the states debt (if one had 100k worth of property he than had a 10% loan (10k) and had to pay it off without having any positive thng from it), actually they discuse a new one but this time the will call 30% !
So I never saw an normal indivual profit from this mentioned situations only the state and some other would profit normaly...
Sure, I shld have clarified that point. The "you shall be happy and own nothing" warning is not going away quickly. So, similar to the economic-hitman tactics, debt-relief comes with asset forfeiture.
there was a brief period in the 1980s when the babyboomers felt wealthy - mortgages paid off, houses worth 10x what they were 20 years before... kinda looked rosy. So, couldn't have that!! Way too much freedom of choice! One problem was that kids, having gone through univ, couldn't then afford those astronomical prices... so, many parents remortgaged their homes to help out. back into debt! A whole essay here on the planned destruction of the middle class.