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    arities in the foreign exchange rates pertaining to the postal currency of International Reply coupons. If these coupons could be purchased in countries where they were still hit hard by the afte
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    Author: James Walsh
    ISBN: 1563431696:
    Publisher: Silver Lake Publishing

    In 1903 Charles Ponzi arrived in the USA with the aim of becoming as wealthy as Rockefeller. His modus operandi was based on the principle of robbing Peter to Pay Paul.

    James Walsh, in his informative book, You Can`t Cheat An Honest Man: How Ponzi Schemes and Pyramid Frauds Work..and Why They`re More Common Than Ever, traces the origins of the Ponzi Scheme, and explores how and why the scheme works with its different modern day variations.

    The first part of the book narrates how, after spending some time in prison for cheque forgery, Ponzi found a creative way to shaft people, that was even legal and possibly sound.

    What Ponzi would do was to take advantage of the disparities in the foreign exchange rates pertaining to the postal currency of International Reply coupons. If these coupons could be purchased in countries where they were still hit hard by the afte

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    andi was based on the principle of robbing Peter to Pay Paul.

    James Walsh, in his informative book, You Can`t Cheat An Honest Man: How Ponzi Schemes and Pyramid Frauds Work..and Why They`re More Common Than Ever, traces the origins of the Ponzi Scheme, and explores how and why the scheme works with its different modern day variations.

    The first part of the book narrates how, after spending some time in prison for cheque forgery, Ponzi found a creative way to shaft people, that was even legal and possibly sound.

    What Ponzi would do was to take advantage of the disparities in the foreign exchange rates pertaining to the postal currency of International Reply coupons. If these coupons could be purchased in countries where they were still hit hard by the afte

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    More Common Than Ever, traces the origins of the Ponzi Scheme, and explores how and why the scheme works with its different modern day variations.

    The first part of the book narrates how, after spending some time in prison for cheque forgery, Ponzi found a creative way to shaft people, that was even legal and possibly sound.

    What Ponzi would do was to take advantage of the disparities in the foreign exchange rates pertaining to the postal currency of International Reply coupons. If these coupons could be purchased in countries where they were still hit hard by the afte

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    ter spending some time in prison for cheque forgery, Ponzi found a creative way to shaft people, that was even legal and possibly sound.

    What Ponzi would do was to take advantage of the disparities in the foreign exchange rates pertaining to the postal currency of International Reply coupons. If these coupons could be purchased in countries where they were still hit hard by the afte

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    arities in the foreign exchange rates pertaining to the postal currency of International Reply coupons. If these coupons could be purchased in countries where they were still hit hard by the after-effects of World War I, he could then redeem them for stamps or cash in the USA, where there value would be as much as 50% higher. Presto! He was onto a brilliant scheme, however, he needed money to expand his enterprise.

    In order to raise the needed cash, he promised investors that he would pay them high rates of interest with the profits from his scheme. As is the case today, people were gullible and greedy, and Ponzi had little difficulty in attracting huge sums of money.

    However, Ponzi found it difficult to keep meeting his obligations of paying his investors. He resorted to using fresh money to keep his original investors satisfied. And thus began the Ponzi Scheme, that is alive and well today with multiple variations on the original theme.

    One s

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