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The Greatest Ponzi Scheme 07/17/2009

Charles Ponzi and Bernard Madoff

Charles Ponzi and Bernard Madoff: Two criminals qualified for Congress.


Bernie Madoff's multi-billion-dollar Ponzi scheme shocked everyone and destroyed the savings of many individuals and charities, drastically impacting their future wellbeing. Everyone was furious, and rightly so. All caring people were saddened by the fact so many had been deceived, but there is a greater deception and a far more devastating Ponzi in operation at this very moment. There are several supported, promoted and carried out by the elected representatives of the people -- people far more gullible and foolish than those Madoff used.

Hopefully, you understand a Ponzi scheme is one where early investors are paid with money from new investors. As long as there are new investors, the deception continues.

America bought in to the greatest Ponzi scheme in the 1930's. It appeared as an act of compassion promising future security. Workers were forced to invest in their future as a portion of their paycheck was subtracted by the government and put in a trust that promised to draw interest until retirement, when the Social Security checks would start coming.

The truth is that the money is not set aside. It is spent by the government and an IOU is put in its place. This is, in essence, what Bernie Madoff did, except our politicians will not be called on it, and they certainly will not go to jail. They honestly believe they are above the law. U.S. citizens now have a worthless trust with a funding shortfall estimated at over $13 trillion dollars-- that is 13 million-billion. Remember, a billion is a thousand million. Now multiply that 13 times. That's a whole lot more than Madoff's $50 billion.

Now answer the question: who are the foolish ones? I hate to tell you this, but TARP, the bailouts, Medicaid, Medicare, and the proposals for government-run healthcare are all huge Ponzi schemes. They will force our children and grandchildren to pay for all of this nonsense. The general public are convinced the rich, prosperous and those who have good jobs will pay for it now through increased taxes. This will further weaken the economy and in order to fulfill bad promises the government response will be to print more money, devalue the dollar and drive inflation out of sight. Although hidden to most, this practice is our present-day enemy.

In 1980, when I (along with other courageous ministers and citizens) cried out loudly for all Americans to take a stand against the Soviet threat, the recession, and extremely high income taxes, we could clearly see the enemy. Wise voters put Ronald Reagan in office and, thank God, positive, principled changes were put in place. It was basically a return to the principles our founders understood to be imperative. Practices were put in place that led to renewed possibilities for prosperity, the Cold War ended, the Berlin Wall came down and there was renewed hope. America felt safe and secure and we were blessed.

But just as in the past, success has been followed by excess. The excesses of the roaring 20's followed the victory we experienced in World War I and the peace that followed. Then the depression followed the excess with proof of payday someday. The depression was ineffectively dealt with and programs were put in place that, contrary to what most Americans have been led to believe, did not end the depression. World War II ended it. America came together to resist the horrors of the Japanese Imperialism, Hitler's Nazism, and once again, we were victorious. We also ended the Korean conflict and America was once again secure. But as before, after success comes the excess.

We had the rocking 50's which seem mild compared to the rebellion of the 60's and 70's. School prayer was out, abortion was in, weak Presidents followed and then America responded and with Reagan's leadership we restored important principles. We were blessed, and even without the best leadership, the tech explosion enabled us to experience prosperity once again. But as before, following success comes excess.

We seem to have forgotten God and the principles of our founders. Many Americans live with a clenched fist in the face of a mighty God. We are exalting immoral practices, same sex marriages, extreme defense of the termination of the life of the unborn, and now leaders from both parties are continually supporting one Ponzi scheme after another. When 9/11 occurred, it appeared America might come together. Thank God we have been delivered from another horrific attack, but we have continued on a road to ruin. It is once again, business as usual, our house is divided and we are making foolish decisions. Sure, we can see the result of greed, foolish credit practices, and an economy in shock, but we are addressing these problems in the wrong way. We are again in the process of adding additional Ponzi schemes to the ones already in place.

When will America wake up, return to sanity, and recognize that Bernie Madoff was but one small example of a population deceived, misdirected and looking to the wrong sources for help and hope? I don't want leaders to continually offer the wrong solutions to serious problems under the guise of compassion. Let me repeat that both political parties have failed by forsaking sound principles. It is time for Christians to not only pray, but get inspired, get informed and get involved! Begin listening to the truth-tellers wherever they are, and begin praying for and working toward a return to sane practices morally, politically and economically.

Author: James Robison

Editor: Randy Robison

Word Count: 1035

About the author: James Robison is the founder and president of LIFE Outreach International, a Christian media ministry and mission relief organization. He and his wife, Betty, host of the television program Life Today; He has authored numerous books, including The Soul of a Nation, The Absolutes: Freedom's Only Hope and True Prosperity.

Media Contact: Randy Robison, editor at . Photo available upon request. Reprint rights granted with attribution for complete, unedited article. Revisions allowed only with approval.