This makes too much sense.
Michael Parness, CEO of TrendFund.com, believes the current U.S. banking system is nothing more than a government-supported Ponzi scheme.
"Take a look at the definition of a Ponzi scheme: a fraudulent investment operation that pays returns to investors from the money of subsequent investors rather than from profit," Parness says in a statement. "Anyone remember how Madoff and Stanford Group finally collapsed ... when people started taking their money back."
"What if everyone were to go to their bank tomorrow and demand their money back immediately? The banks are insolvent and this run on banks would force many or most of the bigger banks to fail completely and disintegrate, because the true number for a government bailout of the banks is actually $50 to $100 trillion," added Parness.
Read his full statement at the link below:
The Next Ponzi Scheme? Take a Close Look at the U.S. Banking System, Says Michael Parness, CEO of TrendFund.com
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