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Charles Ponzi
🕑 Added 2018-01-31 17:00:29 +0000 UTC Sorry patrons!It's a little late! We promise to get next week's to you extra early!
Charles Ponzi, (born Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi; March 3, 1882 – January 18, 1949), was an Italian swindler and con artist in the U.S. and Canada. His aliases include Charles Ponci, Carlo, and Charles P. Bianchi.[1] Born and raised in Italy, he became known in the early 1920s as a swindler in North America for his money-making scheme. He promised clients a 50% profit within 45 days, or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the United States as a form of arbitrage.[2][3] In reality, Ponzi was paying earlier investors using the investments of later investors. While this type of fraudlent investment scheme was not originally invented by Ponzi, it became so identified with him that it now is referred to as a Ponzi scheme. His scheme ran for over a year before it collapsed, costing his "investors" $20 million.
Comments
Cyn R Johnson
The commercial was slick guys. The poke at patreon's messing with it's pay model and the relevance of the Ponzi story 100 yrs past to today is a bit of hopeless wailing at our collective ability to learn and correct from our past as a nation. Ponzi and the Pilgrims... oh boy! and now we've got the grifter in chief with nukes... gah! Heath, you need a valium salt lick, the stupid is gonna get thicker in the world before it burns itself down again. Noah, you need to avoid your relatives. Tom and Cecil need to put on shirts? And someone feed Eli please. Tomatoes and Beer should cover most of his nutritional needs. Splurge on some brown rice for roughage. Eating the rich will give you parasites. they're spoiled you know. Skol!
Cody Renton
I know Ponzion was a joke, but with the way Patreon is going I might willingly sign up for a pyramid scheme if it gave the same podcast rewards and let me stop giving Patreon money
