A fraudulent investment that involves the payment of purported returns to existing investors from funds contributed by new investors. It is an investment system where the investment profits are paid with the money from other investors, and those who experience profit believe the profits come from non-investors such as business activities, or the earnings and growth of a company
When the very concept of the state first came into being, the role and responsibility of government was relatively small. It was a collective force designed to keep the foreign nasties out from raping and pillaging.
It’s what the Romans started their empire with. It’s what the Brits began their empire with. And it is what the US first looked like after they’d kicked the red coats in the teeth and sent them scurrying home for a cup of tea and a good moan.
But humans are a predictable bunch. When we see something work, we inevitably think, “Oh, wow great we should clearly have more of that.”