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2min chapter
Charles Ponzi's scheme
Planet Money
Ponzi's Secret Weapon - The Italian Lira
A dollar could buy 20 of these coupons for five cents each in the United States. The Italian Lira, you could buy more than three times as many of those in Italy. After expenses he could make $2.30 for every dollar's worth of coupons he bought in Italy. Amazing profits. Perfect arbitrage opportunity. Sign me up. And it's legal.
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