Tag: Ponzi scheme

After healthcare, your savings, food, and security

I guess the best way to get everyone to want to keep around a failing government run Ponzi scheme, is to make any other kind of investment vehicle unattractive. Qeueue the idea that 401Ks should be taxed pre use. Not to mention that once government can raid them through taxes, they also find ways to justify doing what Europeans are talking about or doing to their private investment retirement vehicles – nationalizing these investment vehicles so the government can raid the big cash in them – with a lot more ease.

Just like with healthcare, if you make the system too top heavy, expensive, and unviable, you can get rid of it and have government run it all. It really isn’t a coincidence that they are going after these things. Between healthcare and private retirement vehicles, the government could grab control of trillions of new dollars. And after all, the plan is to control people through their access to this stuff. It is not a coincidence that they are also going after control of what you eat, either.

This is not accidental. And to make sure we all stay well behaved,
they are getting moar dronz! Luckily, some of us get what they are doing. If one was religious shit like this would frighten us. They are a cult.

But the government can do it!

That should be what the defense uses when they mount the defense of Tate George who has been accused of running a Ponzi scheme:

Former NBA player Tate George surrendered on Friday to federal authorities who accuse him of orchestrating a multimillion-dollar Ponzi scheme.

George, who made an iconic shot for UConn against Clemson during the Sweet 16 game of the NCAA tournament in 1990 before moving on to play with the New Jersey Nets, Philadelphia 76ers and Milwaukee Bucks, gave himself up to FBI agents and postal inspectors in Newark.

A criminal complaint charges him with one count of wire fraud, alleging that as the CEO of The George Group, he took money from prospective investors, and instead of using it for real estate developments as promised, he paid off other investors in a classic Ponzi scheme.

Among the allegations are that George represented to prospective investors that their money would be used to fund The George Group’s purchase and development of real estate development projects, including projects in Florida, Illinois, Connecticut and New Jersey.

The difference here is that government allows itself to do this – under the pretense that it will seriously keep its promise – and the won’t give Tate the same leeway. Heh. Priceless.

Joe Biden’s comment on the one child policy in China

There is much hub-bub about Biden’s comments related to the Chinese on-child policy made while on a diplomatic mission there. According to InfoWars, which reported about Biden’s speech and the comment in question Biden did say that he was not going to second guess their policy, but in fairness he was speaking about that issue in the context of sustainable economic policy. Here is the full text of speech in China. People went nuts when they heard Biden’s comment that he was not second guessing their policy, and now the WH is yet again in damage control mode after he opened his mouth.

But to be fair, the WH is correct I think in pointing out that Biden was telling the Chinese that the once-child policy had serious economic implication for collectivist societies that depended on Ponzi schemes, like our SS system, and then, even when Biden seems to have the math wrong, that such a system is not sustainable, and I get his point. Biden errs when he says that 4 produce only one to pay for them. I am assuming he means that 2 couples, each with one child, will produce only a single union, again with one child, which basically inverts the pyramid in the Ponzi scheme. And he is right to say the Ponzi scheme implodes when that happens, as it is doing right now with our Boomer generation in the US, and is also happening in every Western socialist state, where our entitlement society suddenly doesn’t have enough people putting in to cover those pulling out.

But I do believe Biden should not have simply told the Chinese he was not going to second guess their policy, if as the WH says, he finds it deplorable. If he simply chose to give them a pass for diplomatic reasons or because angering your creditors isn’t much help, I actually think less of Biden now than when I simply thought the guys was a moron. Especially when the Chinese did not care much about hurting our feelings and had no problem telling the WH that we are spending too much of their money just a little while ago during our debt debate.

The practice is in my opinion outright barbaric. Especially in a society where male children are preferred because of a patriarchal system. I still think the Chinese have no idea how hard the problem of some 60-100 million guys, depending on how big of a shift/imbalance in gender population you accept this policy has caused, without the ability to find a wife are going to be to deal with.

In this case I am not sure if Biden was just being dumb old Joe or if this was just a case of ass kissing gone bad. I have a distinct feeling it is the later. After all, other Obama followers have already articulated their longing to bring the Chinese government model – totalitarianism – here, if but for a day.