$50 Billion Fundamentalist Free Fall
…s the oldest one on the books, one enabled and exacerbated by a paper-money-and-credit system such as ours. It was, in the word of the day, a “Ponzi scheme”… You know how they go: initial investors receive large and remarkably consistent returns, thereby creating “buzz” (Madoff’s firm provided 8-9% on your money, every year, regardless of so-called market conditions). Later investors provide the cash payouts for these initial investors… and for ev…
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