Ponzi Quotes
I know that plenty of folks have issues with Social Security, but I'd urge them to confront it on its own terms. Calling it a Ponzi scheme is misleading and does more to cloud the issue than it does to illuminate it. And yes, I do know that unless changes are made, the current system is unsustainable. But that doesn't mean it's fraud.
Mitchell Zuckoff
Some calamities - the 1929 stock market crash, Pearl Harbor, 9/11 - have come like summer lightning, as bolts from the blue. The looming crisis of America's Ponzi entitlement structure is different. Driven by the demographics of an aging population, its causes, timing and scope are known.
George Will
Only Ponzi schemes should depend on confidence. Governments should never need to "restore confidence.” Cascading rumours are a product of complex systems. Governments cannot stop the rumours. Simply, we need to be in a position to shrug off rumours, be robust in the face of them.
Nassim Nicholas Taleb
Nobody is entitled to someone else's money, that is the bottom line. People think they are entitled to it because they think they paid into it, nobody paid into anything, it was a fraud. Every single dollar that the gov collected in social security taxes, has already been spent, there is nothing there, there is no money, so the only money the government gets to make current payment is the money it can take from people who are still working. Its a transfer from the working poor in many cases to the retired rich. We don't have the money, I feel bad for the fact people made promises we can't keep, I feel bad for the people that invested with Bernie Madoff and lost their money, but its the same principle, its the same Ponzi scheme. We have to put an end to it, we have to find real solution to these problems because if we keep on denying that they exist and keep on spending money, we're going to destroy the value of everyone's benefits.
Peter Schiff
There is no need for an end to fish, or to fishing for that matter. But there is an urgent need for governments to free themselves from the fishing-industrial complex and its Ponzi scheme, to stop subsidizing the fishing-industrial complex and awarding it fishing rights, when it should in fact pay for the privilege to fish.
Daniel Pauly
A grand absurdity, a great deception, a delusion of momentous proportions based on preposterous notions and on ideas whose time should never have come. Simplicity, grossly distorted and complicated. Insanity, passed off as logic. Grandiose schemes built on falsehoods with the morality of Ponzi and Madoff. Evil described as virtue. Ignorance pawned off as wisdom. Destruction and impoverishment in the name of humanitarianism. Violence, the tool of change. Preventive wars used as a road to peace. Tolerance delivered by government guns. Reactionary views in the guise of progress. An empire replacing the republic. Slavery sold as liberty. Excellence and virtue traded for mediocrity. Socialism to save capitalism. A government out of control, unrestrained by the constitution, the rule of law or morality. Bickering over petty politics as we descend into chaos.
Ron Paul