Post
Topic
Board Bitcoin Discussion
Re: The Biggest Pyramid Scheme Ever Devised!
by
dennis_sweden
on 05/07/2011, 15:41:07 UTC
I don't have a broader definition of pyramid scheme in mind. Maybe people do use the term in a broad sense. Why not just call the broader term "scam"?

I would call fiat currencies, in particular fiat currencies that expand the monetary base/supply far greater than the increase of goods and services created, for "wealth appropriation schemes"; which with a very simplistic explanation appropriates the "wealth" of workers who receive wages in a depreciating currency, whereas bankers and the financial class do not suffer due to earning interest on the expanded monetary base/supply and thus although their "wealth" in the shape of currency also depriciates, their "wealth" is also expanded.