You Can't Taper A Ponzi Scheme

Why a shrinking money supply risks a massive, uncontrolled crash

You probably hear the term “Ponzi scheme” tossed around frequently out there, but you may not know what it is and why it matters. So here’s a little background from Wikipedia:

A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.^[1] Named after I…