PONZI SCHEMES

Bernard Madoff, Congress, and Andy Stern of the
Service Employees International Union (SEIU) are alike.

(Added to this website on 11/18/09.)

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Not long ago Bernard Madoff was glorified by the media as the greatest con artist of all time.   He had taken billions of dollars from people who trusted him to invest their life savings for them.   However, Madoff kept their money for his own use, buying mansions, yachts, and other expensive luxuries.   He paid them dividends by taking money from those who invested later.   In other words, he took Peter's money for his own use and paid Peter a dividend periodically by using Paul's money which came into his hands later.   This worked well for Madoff until there were not enough Pauls to pay the Peters (the economic crunch).   Madoff's whole bogus investment scam was discovered and many suddenly realized that they had lost their life savings.   This is known as a Ponzi scheme and is as illegal as any scam can be.

Madoff was a bad man indeed who ruined the lives of many people.   However, he was not the greatest con artist of all time.   Most likely, the United States Congress, when it was dominated by the perpetrators of social security, was composed of the greatest con artists of all time.   Social security is based upon taking money from the young to furnish retirement funds for the old.   In the meantime, Congress can steal the money for their own pork barrel spending.   In addition, the money can be considered theirs because they count upon the old to die off quickly so that dollars need not be spent to send out social security checks.   And, of course, the annual increase in one's social security check can be set well below the rate of inflation which it is supposed to cover - and the initial check set well below a third of what it should be had the money been in a bank's certificate of deposit (CD) for all those years.   Furthermore, the one who had been paying to the social security fund for all his life cannot leave the investment to his heirs - it goes to the government instead.   So it is obvious that this government Ponzi scheme is much cleverer than Madoff's was.   And once there is not enough money coming in from the younger crowd (as is now the case), the social security trust fund goes broke and everyone loses their life savings insofar as social security is concerned - which is what most depend upon.   This makes the government the biggest criminal of all - or at least the Communist-dominated government that we had when social security was enacted.

Now the Obama administration is setting up another Ponzi scheme for the Service Employees International Union (SEIU) which is headed by Andy Stern, the most frequent White House visitor since B.O. began to stink up that building.   Stern's Communist-dominated union has been using a Ponzi scheme for years so that the retirement fund for its members is used for political purposes and wealth for the leaders while the new members fund the retirements of the old members as well as the union health care fund.   However, recently the SEIU has been losing members and new members are needed so that the promises given to the old members in their retirement can be kept.   Stern's solution is to (1) have Congress enact legislation that takes away the secret ballot from the members so that the SEIU thugs can see to it that all members vote the "right" way, (2) have Congress give handouts to the SEIU as they have done for ACORN in the past, (3) have Congress create legislation that will force people to join the unions (which will make some companies go out of business).   Part of the health care package that is in Congress is designed to take pressure off the union health care funds, so that the SEIU will not go broke.

Stern is strongly advocating a comprehensive government-run health care system that will care for illegal aliens as well as American citizens.   He is also advocating open borders for the United States.   This will give him the new members he needs so much, and will see to it that the union health care fund is no longer needed.   B.O. is most willing to play ball with Stern because it is the Communist-dominated unions and especially SEIU that provide much of B.O.'s campaign funds.   B.O. has been hand-in-glove with SEIU for years and Stern's desire to have the "workers of the world unite" in one big union is exactly what comrade B.O. wants.   Once again, we see that B.O. and his thugs are aiding the Communist movement in the U.S.   And once again we see Communists creating an unconstitutional and otherwise criminal Ponzi scheme.

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