Archive for September 7th, 2009

Ponzi

September 7, 2009

Do you know what a Ponzi scheme is? A Ponzi scheme (as described in Wikipedia) is a fraudulent investment operation that pays returns to separate investors from their own money or money paid by subsequent investors, rather than from any actual profit earned. It kind of sounds like an insurance company  to me, only in a different context. The insurance company isn’t offering any return on your investment (except in the case of some life insurance policies).

Many years ago I got a motorcycle, a drivers license and a license plate and I was on the road. The next year I had to pay $8 to the uninsured motorists fund. The next year I got a car and I had to pay $40 to the uninsured motorists fund. The next year I had to buy insurance from a private company, they said it would cut down on law suits. How has that worked out? Anybody? Anybody? I’m afraid it hasn’t worked out well at all.

What a sweet scam. No return on the investment and almost everyone has to participate by law. They just keep taking our money and paying legislators to make more laws requiring us to give them more money. Who needs taxes, insure us to death. Oh my, have I let Chairman Zero’s cat out of the bag.