Category Archives: Ponzi Schemes

Bernie Madoff is the most famous, there are others too

Pensions face bankruptcy in the future

Posted on October 28, 2016 by

2016-4-10. US faces disastrous $3.4 trillion pension funding hole. Collective deficit of retirement plans is three times larger than official figures. Financial Times. The US public pension system has developed a $3.4 trillion funding hole that will pile pressure on … Continue reading →

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Why Banks and Wall St will go broke if interest rates ever go up

Posted on May 13, 2014 by

Dumb Money Day 1 by Charles Marohn, Strong Towns   Jun 10, 2013 This week I want to write about one very technical finance subject and the implications for the housing market and, by extension, for cities and the great reset … Continue reading →

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How Companies Plunder and Profit From the Nest Eggs of American Work

Posted on May 1, 2014 by

Retirement Heist: How Companies Plunder and Profit From the Nest Eggs of American Workers By Ellen E. Schultz    Portfolio/Penguin 2011 216 pages, in hardcover and paperback August 20, 2012. UE News – Summer 2012 issue We already knew that employers … Continue reading →

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Drowning in digits: National, Unfunded Liabilities, State, and Derivative Debt

Posted on April 26, 2014 by

Just about everyone I know believes in the permanence of the Dollar, the Eternal Supremacy of the United States, and the propaganda to constantly grow their money by taking risks. So they dutifully feed hard-earned wages into the voracious slot … Continue reading →

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Why do people fall for Ponzi and other schemes?

Posted on April 14, 2014 by

Fooled by Ponzi (and Madoff). How Bernard Madoff Made Off with My Money  Dec 23, 2008. Stephen Greenspan. Skeptic.com There are few areas of functioning where skepticism is more important than how one invests one’s life savings. Yet intelligent and … Continue reading →

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Bill Moyers & Bill Black on Ponzi schemes, Fraud, & Liar’s loans

Posted on April 13, 2014 by

Bill Moyers talks to Bill Black about the fraud that pervades the financial industry and the Obama government April 3, 2009  pbs.org William Kurt Blackis an American lawyer, academic, author, and a former bank regulator. His expertise is white-collar crime, … Continue reading →

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Pensions of millions of Americans Threatened

Posted on April 13, 2014 by

Thought Secure, Pooled Pensions Teeter and Fall 12 April 2014  Mary Williams Walsh  New York Times The pensions of millions of Americans are being threatened because of trouble in a part of the retirement world long considered so safe that … Continue reading →

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Bernie Madoff

Posted on March 3, 2014 by

The Day the Earth Went Broke. 2008. Byron King   whiskeyandgunpowder.com What if you woke up one day and there was a flying saucer sitting in the middle of Central Park? It would change your view of the world, if not … Continue reading →

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Why cash is better than gold

Posted on March 1, 2014 by

Why people buy gold To protect against inflation That’s a good reason, but the next crash will be deflationary like the 2008 crash, when stocks, homes, oil, gold, and everything else plummeted in value. Trillions of dollars vanished overnight.  The … Continue reading →

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