Similar thing is with banks. If all people would like to take their money at the same time. Banks couldn't give you your money, cause they use it to give credits etc. to other people
Well banks also invest your money in bonds so they can pay you back and also the government will typically support major banks so they always have liquidity, but it's not like something like this will typically happen unless it's a huge recession
thats why it's haram or forbidden for Muslims to work and do stuff in the western, conventional bank. islam have better system about this bank thing. money shouldnt be traded. money is currency. not commodity.
@@DBT1007if Islam had better bank system then Wall street would sure as hell not be in America. The biggest reason rich Muslim exist is because of petrole, not banks
@@popcornpizza8869 Even if your friend came up to you and told you he would double your money you still probably wouldn't believe him, atleast not until he told you how he would do it
@@riddhirajbhattacharjya4441 Back when this happened, people had a lot more trust. These sorts of things didn't happen often, if ever. So it would be perfectly reasonable to trust Ponzi when it happened.
Few things. I heard that the Boston post also stated that Ponzi was a "financial genius", this was before they caught him. 2. He wasn't the first person to pull a Ponzi scheme, but how much money he earnt made the scheme bear his name
yeah banks can use government's printed money but this ponzi scheme thing is more perfectly the same with the cryptocurrency market where you don't make new money the only way to gain any growth is from other person's investments
the real problem is that those stamp coupon whatever things that he was buying did not have a large enough market for him to offload anywhere near enough money to profit from it! he was stuck with all of these coupons and no way to actually turn them back into cash so he just altogether stopped bothering with it and just kept the cash and then just yeah .. used other people's income in cash to pay his previous debts to give the illusion that he's actually increasing people's money and actually making profits!! now the term is more generally used to describe any pyramid scheme rip-off where someone is paying off old investors with new investors money coming in and ultimately defaults on the last and probably biggest group of investors.... and likely disappearing to a country without an extradition treaty!! lol 🤷🏼
Reminds me of a game on Roblox, called adopt me. It's very popular with scammers these days. So there's this scam that involves 2 scammers and 1 if not 10 victims, and then scammer1 says he'll double the money or item sent to him, and the victims don't believe him and call him out for scamming, and then scammer2 says let's give it a shot; and gives scammer1 an item or money, and scammer1 pretends to double it for scammer2, and scammer2 pretends to be all excited and then goes to pretend to give scammer1 something more valuable, and scammer1 pretends to double it so the victims here think "this must work" and they give scammer1 a valuable item and scammer1 doubles it and then they give scammer1 an even more valuable item then scammer1& scammer2 just leave the game. You can actually find 'how to scam kids' videos on UA-cam about this game alone; it's brutal.
That game is absolutely filled with scammers, and it’s so easy to do it most scams don’t even need 2 people the victim will just give the scammer everything after being told they’d double it
Hank, can I call you Hank? Ok Hank, I always wondered where this came from. I wonder if it will be called Madoff in the future as in people who made off with your money. Anywho great video as always. Keep the videos and the voices coming 😂 Hank
We had something like that in Romania around the 1990's. And it persevered for a few years. People were selling their homes to put money into the miraculous money making "game"... Then the government stabilized and called all of it off... It was called Caritas for us...
Bro you are a true lifesaver and honest you deserve more subs then those scamy little pricks putting up unrealistic expectation and stupid bots suporting it
Learn more with us! SmartNonsense.com 🌈
First reply lmao
Why does bro have 2 likes
Bro has 5 likes lol
4 comments?
@@hudayfi-qu2sn 5 you mean?
bro literally doubled it and gave it to the next person
"Keep it or double it to the next person?"
"Double it."
*96,642,940 dollars in debt* 💀
"Today, Jimmy and I will be asking random people at Walmart if they would rather have $5,000 or double it and give it to the next person!"
Cut it in half, and give it to the previous person
@@P4R5 Double it and give it to the previous person
😂😂
Bro spoke that family guy Italian 🤣🤣🤣
Che cosa?
Ponzi was Italian
@@acenownes7011 yeah but he did the bad accent
Ok
@@gacd2104 TU SE IMPATSO!!!
In another life, he’d have been a banker
He was a banker. This guy explained the ponzi scheme poorly.
More like a modern crypto company
🤦 I implore you not to allow YT or any social media (or even Wikipedia or chatgpt) be the basis of your knowledge of history….or perhaps anything.
@@newagain9964 What's your suggestion for learning history from a valid source?
@@EJK2099 well. There are things called books, FILLED with information. And real authors/researchers use copious sources to validate info/conclusions.
Similar thing is with banks. If all people would like to take their money at the same time. Banks couldn't give you your money, cause they use it to give credits etc. to other people
Well banks also invest your money in bonds so they can pay you back and also the government will typically support major banks so they always have liquidity, but it's not like something like this will typically happen unless it's a huge recession
That's why nobody puts their money into banks that aren't government insured
Everyone should do this
thats why it's haram or forbidden for Muslims to work and do stuff in the western, conventional bank.
islam have better system about this bank thing.
money shouldnt be traded. money is currency. not commodity.
@@DBT1007if Islam had better bank system then Wall street would sure as hell not be in America. The biggest reason rich Muslim exist is because of petrole, not banks
Actually pretty smart, if he didn’t get reported no one would’ve figured it out.
He would have been found out eventually because the base can't grow forever
@@davidy22 Yeah, it’s like a pyramid scheme.
And everyone but the peak of the pyramid would of Benfited. He's kinda like Robin hood
just like every other crime...
@@Fitzcrackers4preznot really, he was spending a lot and all ponzi schemes have to fall apart eventually, thats just how they work.
"...Me too!"
💀
Yeah we all get into a Ponzi Scheme about once or twice a week
Pension funds.
American economy
That one really got me 😂
if he'd just been more greedy and only promised a couple percent back per year, he'd have been a bank
Imagine scheming so hard your name becomes cemented as the name of a whole genre of schemes.
Him: "Have you ever been in a ponzi scheme?"
Me: "Yes..."
Him: "Me too"
Me: "Hold on a minute..."
So sorry that happened to you
Yeah, I'm involved in one right now. I have to pay into social security even though I'll never see it.
Him: "Have you ever been involved in a Ponzi scheme?"
Me: *says nothing*
Him: "Me too, so-"
Brooo sameeeeee lol
Pension schemes. They're called schemes, it's not even well hidden.
Watching dora be like :
i am not incriminating myself!
I too pay into Social Security
I was involved in a Ponzi scheme, and I lost a lot.
I wonder who was the first one to actually believe him and give him money
His friend..
@@popcornpizza8869 Even if your friend came up to you and told you he would double your money you still probably wouldn't believe him, atleast not until he told you how he would do it
@@riddhirajbhattacharjya4441 I mean in the video he says it was his friends who were the first customers, but I completely agree with you
@@riddhirajbhattacharjya4441 Back when this happened, people had a lot more trust. These sorts of things didn't happen often, if ever. So it would be perfectly reasonable to trust Ponzi when it happened.
@@therealevilmudbug Yeah that makes sense.
Not every other person was trying to scam you back in the day
"As it turns out, Dr. Li's ponzi scheme is actually quite illegal" - ytp outie innie algae by CS188
Home: " have you even been involved in a Ponzi scheme? " Me: " no. " Home: " me too "
Tom Selleck is doing the same thing selling old people on the idea of reverse mortgages. 😡
So its basically “double it and give it to the next person”
Previous *
Its borrowing from Peter to pay Paul
literally what the entire market cryptocurrency is made off 😂
Bro invented "double it or give it to the next person"
Henry: Have you ever been involved in a Ponzi Scheme?
Me: Yes, it involves Lunchables Pizzas.
Henry: Me too...
"Have you ever been involved in a Ponzi scheme?"
"Yes."
"Me to- Wait, what?"
And that's why banks depend on the government to bail them out when everyone withdraws their money.
"double it and give it to the next person"
"would you like 200 dollars?"
"half it and give it to the previous person"
Few things. I heard that the Boston post also stated that Ponzi was a "financial genius", this was before they caught him. 2. He wasn't the first person to pull a Ponzi scheme, but how much money he earnt made the scheme bear his name
isn't that just a bank without the federal government invlolved
yeah banks can use government's printed money
but this ponzi scheme thing is more perfectly the same with the cryptocurrency market where you don't make new money the only way to gain any growth is from other person's investments
"You give me money and I double it and give to the next person "
i said "no" bro said "me too" and went on to tell about the ponzi scheme
Hey I love your videos and how creative you are!
man was playing runescape long before computers existed
*cough "social security" *cough
Man broke the system
Thank you bro. 2024 is a hard year financially for me.
the real problem is that those stamp coupon whatever things that he was buying did not have a large enough market for him to offload anywhere near enough money to profit from it!
he was stuck with all of these coupons and no way to actually turn them back into cash
so he just altogether stopped bothering with it and just kept the cash and then just yeah ..
used other people's income in cash to pay his previous debts to give the illusion that he's actually increasing people's money and actually making profits!!
now the term is more generally used to describe any pyramid scheme rip-off
where someone is paying off old investors with new investors money coming in and ultimately defaults on the last and probably biggest group of investors....
and likely disappearing to a country without an extradition treaty!! lol
🤷🏼
My guy really said..Me too...but what is it? Lol I'm dying.
Have you ever been involved in a ponzi scheme
Me too 💀
Are we just gonna ignore how he said "me too"🤣
I know like we gonna just inform that
yes, yes we are
I'm currently in a Ponzi scheme. It's called social security
"Me to" righttt😊
Living the American dream the mafia way 😮😮😮
“Have you ever been in a Ponzi Scheme? Me too.” 😂😂😂
😂😂😂😂😂😂😂YEAH THATS IT HE KNOWS WHAT ITS ABOUT!gett’n that good dough!
"Take it or double it and give it to the next person"
"Double it"
Bro went through some hard times.💀
Social Security?😳🤯
Reminds me of a game on Roblox, called adopt me. It's very popular with scammers these days. So there's this scam that involves 2 scammers and 1 if not 10 victims, and then scammer1 says he'll double the money or item sent to him, and the victims don't believe him and call him out for scamming, and then scammer2 says let's give it a shot; and gives scammer1 an item or money, and scammer1 pretends to double it for scammer2, and scammer2 pretends to be all excited and then goes to pretend to give scammer1 something more valuable, and scammer1 pretends to double it so the victims here think "this must work" and they give scammer1 a valuable item and scammer1 doubles it and then they give scammer1 an even more valuable item then scammer1& scammer2 just leave the game. You can actually find 'how to scam kids' videos on UA-cam about this game alone; it's brutal.
That game is absolutely filled with scammers, and it’s so easy to do it most scams don’t even need 2 people the victim will just give the scammer everything after being told they’d double it
“You ever been involved in a Ponzi scheme?”
Uh, no-
*“Me too”*
It sounds more like a bank lending money hahaha
If it ain’t broke don’t fix it…
Unfortunately, Ponzi become broke af!
I like these animations very much they are really goofy
Literally sounds like how banks work.
I love when he says “me too” he says it to both yes and no answers
the kid that reminded the teacher we had homework grew up to be the guy that ruined the scheme for everyone lol
Yes, it is called pensionary system today
Its only a problem if it stops
And sadly, in my country, Ponzi Schemers exists like mushrooms on rainy days. People just don't learn, huh? 😅😂🤣
Literally dropshipping
Gotta love when the media actually did what they claim to do now.
I learnt this in 12 grade on debate where I was defending capitalism, glad to get recap! Keep it up
A similar 'scam' happened with bank securities once.
that "me too" was so fucking smart.
It applies to anyone who ever paid Social Security Taxes, or deposited mony in a US bank.
Have you ever been involved in a Ponzi scheme?
Yes
…Me Too!
So if the Boston post didn't snitch on Ponzi the Great Depression wouldn't of happened in America 😂😂😂
Perhaps the damage wouldve been lessened but a major cause of the depression was the prohibition
This dude said “me too” like everyone has been in one😂😂
"Have you ever been involved in a Ponzi scheme?"
"nah"
"Me too"
"it is clear we have many differences"
Imagine your name is immortalized as a crime :v
Yeah but he actually DID have a way of doubling their money.
Social security
“Have you ever been in a Ponzi scheme?”
“Yes”
“Me too”
Best way to respond
Holy crap this is a genius idea!
Literally banking but less of a scam.
“Have you ever been in a Ponzi scheme” yes, I was their leader “me too”
Him saying he’s been in a Ponzi scheme caught me off guard
people: Ponzi Scheme is bad
Bank : *sweating*
Have you ever been involvedf in a Ponzi scheme?
*Bernard Madoff joined the chat.*
No need! We got tom to explain it to the kids!
"you even been involved in a Pozi scheme? Me too!"
*yo hol up, run that sentence by me again...?*
Italian like Peter Griffin
I just realized that these are stick figures with realistic items.
Bro isn't this just banks 🗿
Bro really thought he was a TikTok influencer
Dang bro really just said “me too” after asking if you’ve ever been in a Ponzi scheme 💀
So the papers caused a bank run…
Man doubled it and gave it to the same person nice xD
Vintage “double it and give it to the next person”
Hank, can I call you Hank? Ok Hank, I always wondered where this came from. I wonder if it will be called Madoff in the future as in people who made off with your money.
Anywho great video as always. Keep the videos and the voices coming 😂 Hank
"Me too." Bro what?
And eons later, bernie madoff perfects it.
Bernie used to run the NASDAC stock exchange, too. Don't look to closely under the hood of Wall Street. It's all smoke & mirrors.
The clipt on the back of the card going across the screen during the beginning 💀
If you ever get trapped in a ponzi scheme, pray that you were in the early birds.
We had something like that in Romania around the 1990's. And it persevered for a few years. People were selling their homes to put money into the miraculous money making "game"... Then the government stabilized and called all of it off... It was called Caritas for us...
Nabbe din mai Paisa double😂😂
Jk jk this situation reminded me of that movie "hera pheri"
Paisa hi paisa hoga😂😂
@@aakashyadav678 mast plan hai
Ponzi scheme? You mean like Social Security
Henreybelcaster 😂 oh you ar his twin😂
"Me too" that made me pause for a sec
no way he said , have you ever been involved in a ponzi scheme, me too.
"Me too" bruh wtf 💀
This is the plot of the wolf of wall Street
Bro you are a true lifesaver and honest you deserve more subs then those scamy little pricks putting up unrealistic expectation and stupid bots suporting it
"Hey scuzi , Boppity Booby"
-Ponzi guy
That's how a scam runs. Its will make every one happy until someone pokes the system.