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Ponzi scheme

/ ˈɒԳɪ /

noun

  1. a fraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit
“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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Word History and Origins

Origin of Ponzi scheme1

After Charles Ponzi , who famously perpetrated such a scheme in the United States of America in the early 20th century
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Example Sentences

Examples have not been reviewed.

Musk has described social security as "the biggest Ponzi scheme of all time".

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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.

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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.

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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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Curtis said he wouldn't go as far as Donald Trump adviser Elon Musk, who raised eyebrows by calling the program a "Ponzi scheme" earlier this month.

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Ponziponzu