Imagine your a man. (This is hard for some of you because you are women.) and someone tells you they are going to take some of your crypto and give it back to you when you are 65 years old, if you live that long. You can't use it for Binance, DeFi, or crypto kitties. They won't invest it either!
Sound like a good deal? No. Only a moron would even consider this for a second. Why would any man give his money to this person? Well, he wouldn't that's why this person had to go to the government and use force.
Social Security is not only a ponzi scheme, but it is worse than that. Why? Because the people running it are usually responsible for protecting you from ponzi schemes! The Government.
This article is an incoherent mess of in defense of social security.
Yes, Social Security is designed to protect the elderly with the payroll taxes of younger working Americans, but that's a social investment, not an economic one. And that's why Social Security can, in no way, be accurately described as a Ponzi scheme.
Not an economic investment? Well then, i guess you don't need real money! Government thieves can stick the word "social" in front of anything to justify it. Amazing. Whenever anything costs too much money to be sustained, it becomes a "social" investment.
One of the aspects of a ponzi scheme is that once the jig is up they will attempt to tell it's victms, that if they wait a little longer, they will get more benefits. This is why the government wants to push up the age requirements. They are hoping more people die.
Ponzi schemes are not meant to be sustainable. Did they consider that maybe, younger people will have less slaves.........i mean children? Less slaves, i mean children, mean less money coming from their paychecks.
With almost 30 trillion in debt, it doesn't matter anyway. They will print all the money they need. So really, it's all a giant ponzi. It's the perfect ponzi because it is backed by the dollar printing. The people at the top of the ponzi get the most worth, while the last are left with the bag of inflation. Had our grandfathers put that social security money into Gold?
If people around the world accept Bitcoin as the trusted currency, how will this continue? It won't continue. You can't make a fictional "lockbox" on a blockchain.