Video: San Diego Business Leader Gina Champion-Cain Sentenced to 15 Years in Jail for Massive $400 Million Ponzi Scheme & Obstruction of Justice

[basquebromance]

Gina Champion-Cain was a pillar of San Diego's business community.

She was also the architect of an almost $400 million Ponzi scheme

 

[Mikeoxenormous]

Gina Champion-Cain was a pillar of San Diego's business community.

She was also the architect of an almost $400 million Ponzi scheme

So why isnt the federal government being arrested for the largest Ponzi Scheme ever?

Social Security, a government Ponzi scheme, headed for collapse

Who is going to support you in your old age? Most Americans rely heavily on Social Security benefits – but will the benefits be available when you retire? Before the pandemic, the outlook was already bleak, but the policy responses to the pandemic have made things much worse for current and future retirees.
Politicians love to talk about the Social Security “trust fund” and assure us that it will not be raided. But the unfortunate fact is the “trust fund” is an accounting fiction without any real assets. In actuality, Social Security is a giant Ponzi scheme operated by the government. Benefits that are paid to existing retirees come from the current taxes from those working today and borrowing. There is no reserve pool.

There never was a SS lockbox, as what ever is taken in by taxes at the end of the year, it must either be spent, or given back to the tax payers. When SS was first created there were about 6 children born by each family which over time would increase the labor force and provide enough taxes to keep SS solvent, but last 50 years, only 1.4 children per family has been born, thus creating a shortage of labor (legally) thus a shortage of funds going into SS. Back when establishment Republican George Bush wanted to give Gen X and so on an option to save on their own or use a government stock option, the left went bonkers because it might actually make people self reliant, not dependent on the Government. Today we see the decline on SS, because SS cant keep up with Joe Biden inflation. Bad news coming down the pipe.


And if you really want to make SS solvent then fully automate the SS and fire all the workers there who sit all day surfing the internet. Could save billions of dollars by cutting the pork out of SS.