Contrary to a Ponzi scheme that falls outside the formal system, the SCBG has been operating in the official circuit. It was authorised by the regulator, and it has been in existence for many years. The money collected has been invested in assets. This is not so in a Ponzi case. The owners of BAI either made wrong investments or were guilty of embezzlement. On both counts, it would be outrageous that the government should reimburse the policyholders with taxpayers’ money.
What is true is that the state, through its economic and monetary policies, fosters a Ponzi economy...
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