Robbing Peter To Pay Paul
Do you remember hearing the cliche-idiom-wisdom of your father or grandfather, where they say, "If it sounds too good to be true, it probably is." The fact is, people in general, are lazy, greedy, suckers, who are born every minute. From the rich on down to the poor, sooner or later, you will be suckered in by someone. Myself included. One of the oldest schemes in the book is to "Rob Peter to pay Paul." This old cliche is from a time when the King of England demanded payment of taxes from his subjects, the Catholic Church in London - Saint Paul's - demanded taxes be paid to them under the name of donations, and the Catholic Church in Rome - Saint Peter's - demanded taxes also to be paid in the form of donations to prove your devotion to God. Of course, the poor couldn't afford all these taxes, so even though your congregation would owe the Pope in Rome more and more back taxes every year, it is always easier to "Rob Peter so you can pay Paul" since St. Paul's was in your own backyard. When Banks became more predominate, where you no longer had to borrow money from the Church or the King, Investment Bankers already knew about a scheme that had worked for centuries. You might recognize some of the prominent schemers of the last century. Bernard Madoff, Allen Stanford, Victor Lustig, and Charles P. Bianchi, I mean Carlo P. Bianchi, err I mean Charles Ponci, err again, I really mean Charles Ponzi. He was so good at "Robbing Peter to pay Paul" that the World soon knew about him and the scheme has been named after him ever since. It's called, "The Ponzi Scheme."
This is,Wondering What It Takes To Get A Name Like
- Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi -
Mine Is Only This Long, James Bernard Paul Hauenstein,
And,
"I landed in this country with $2.50 in cash and $1 million in hopes, and those hopes never left me." - Charles Ponzi -
That's my story and I'm sticking to it!
Like what you are reading or don't like what you see.Set up my Blog as your Homepage,or sign up as a Follower,or leave a Comment,and I'll answer you in a Post.Thanks for reading.
This is,Wondering What It Takes To Get A Name Like
- Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi -
Mine Is Only This Long, James Bernard Paul Hauenstein,
And,
"I landed in this country with $2.50 in cash and $1 million in hopes, and those hopes never left me." - Charles Ponzi -
That's my story and I'm sticking to it!
Like what you are reading or don't like what you see.Set up my Blog as your Homepage,or sign up as a Follower,or leave a Comment,and I'll answer you in a Post.Thanks for reading.
Published on January 02, 2016 16:16
No comments have been added yet.