Back then, that would mean the return is a measly 15-16% or so - where
37-cents on the dollar these days is quite good... and if you can
repeat the scheme often enough, like three times in a month at 36c or
37c on the dollar, that's double your money in 30 days, and 12x your
investment in a year. Who coul refuse a deal like that???
LN
On Sat, 29 May 2004 00:10:55 -0500, "A.E. Gelat"
Post by A.E. GelatAt that time (1922, I believe, the international reply coupon was worth 6
cents, but it cost about one cent in the overseas country, hence the profit.
Tony
Post by AlbumenAll those people, invested all that money, only to get a 37 cent return on
the dollar.
Sounds like, stamp collecting - no?
- al
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Reply? Not to above.
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Post by A.E. GelatThere was an article today in the newspaper about Charles Ponzi, who ran
a
Post by AlbumenPost by A.E. GelatPonzi scheme based on International Reply Coupons. It is a fascinating
story.
Tony
http://home.nycap.rr.com/useless/ponzi