Max Keiser: Social Security is the BIGGEST Ponzi scheme in history!

Max Keiser breaks it down and illustrates how the U.S. national debt and social security system is nothing but a giant government run Ponzi scheme. Actually, he is echoing the sentiment of Peter Schiff but they both seem to have it right so this video is important and worth listening to. In a Ponzi scheme, the people who enter first get paid off by the people who continue to enter into the system and payment flows in order from the people who enter first to the people who enter last. People receive payment until people either cannot or will not enter the system, in which case the scheme breaks down and those who have entered most recently are left holding the bag and lose everything. The reason social security is a Ponzi scheme is because as the economy worsens and the gov't takes the money from the fund to wage wars, bailout banks etc., there will be no money left for those who have entered the system most recently. With unemployment rising, real wages declining, and the nation bankrupt, the Ponzi scheme is showing signs of cracking and will eventually fall apart. We only enter this Ponzi scheme because the gov't FORCES us to pay social security taxes. WE DO NOT DO THIS WILLINGLY! With the national debt over 11 trillion dollars and held by foreigners who at some point will pull the plug on loaning us money that we cannot pay back, it is just a matter of time until this largest Ponzi scheme of all, the U.S. economy, comes to an end. I pray we will be civil and respectful of one another as this economy and nation unravels in the coming years. Remember, this life is but a vapor in time. Your soul is eternal. I have the hope and peace of knowing that no matter what happens I am bought and paid for by my Lord and Savior, Jesus Christ. I hope and pray that all those who stumble upon this video and blog have that same assurance. Merry Christmas to all. Take care of each other and God Bless. C.J. in California.

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YouTube | December 19, 2008

Tags:. .keiser. .vapor. .savior. .ponzi. .bankrupt