At the end of the 17th century, England was in trouble. The English Civil War dominated the middle of the century, and it left the country financially devastated. Bridges and buildings needed to be repaired or rebuilt from scratch, and debts needed to be repaid.
I once asked if government programs like Social Security are Ponzi schemes. The answer was, “If people know it’s a Ponzi scheme, it’s not a Ponzi scheme.”
I've also been known to be adventurous with my money.
Which is a roundabout way of saying I'm broke.
I once asked if government programs like Social Security are Ponzi schemes. The answer was, “If people know it’s a Ponzi scheme, it’s not a Ponzi scheme.”
So "The Old Lady of Threadneedle Street" was created in response to what was basically a con job? Wow.