"Ponzi schemes work by taking dollars from current investors . . . to pay off previous investors. If enough new investors do not pony up the dollars, the scam collapses."
Which is exactly how every single insurance company in the world works today and has always worked. Exactly where do you think they get the money when they have to pay off on their policies? For example, where do you think these companies got the money to pay off the policies for the people who happened to die the during the first year that the company was open for business? Or do you think that they are not going to pay out a single dime until they've accumulated enough money in the bank to pay off every single outstanding policy?
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