Interestingly, the „first“ Ponzi scheme that coined the term (by Charles Ponzi) was based on arbitrage between international reply coupons (which could have worked in theory, but there was no way to redeem them at face value). The podcast series „Easy Money“ about that is a great listen.
Interestingly, the „first“ Ponzi scheme that coined the term (by Charles Ponzi) was based on arbitrage between international reply coupons (which could have worked in theory, but there was no way to redeem them at face value). The podcast series „Easy Money“ about that is a great listen.