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It's only appropriate that the country with the $40 trillion ponzi financial system and where a broke pig farming company paid its creditors in bacon, only to run out of pigs, has created a pyramid scheme that involves literal pyramids.
Authorities in China’s capital are investigating two companies selling "energy pyramid" products using such illegal practices as fake advertising and multilevel marketing, The Beijing News reported Monday.
According to the outlet, police in Beijing’s Fengtai District launched an investigation with the national-level State Administration for Industry and Commerce on Monday to look into the products’ manufacturer, Weihai Ruihong Energy Technology Co. Ltd., and distributor, Beijing Hongzheng Technology Co. Ltd.
The companies allegedly advertised their pyramid-shaped wares — priced between 5,000 and 100,000 yuan ($740 and $14,900) — as having “healing” and “energy-absorbing” properties, and like any other pyramid scheme, attempted to recruit salespeople into a multilevel marketing operation.
Only In China: A Pyramid Scheme Involving Actual Pyramids
(Score: 0) by Anonymous Coward on Sunday April 14 2019, @02:08PM (1 child)
The labor of the debtor does not increase the number of units of currency though. When they pay back the interest it either come from somewhere else where there will be a deficit, or ultimately the fed "prints" it by issuing a new debt to someone with new interest attached.
(Score: 2) by crafoo on Monday April 15 2019, @12:47AM
Yes, you are correct. This money printing happens when the fed issues loans to the government. This money just comes into existence at this point. It must be payed for at some point with taxes, including interest. Taxes come from tax payers expending time and effort in exchange for money .. which they hand back to the government. for their "free" stuff. The ponzi scheme though is to shift this ever-increasing burden to the next generation or two, and avoid paying it yourself.