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Honestly index funds and cash from retirement savings is a ponzi scheme as well then

No, they aren’t. Speculation does not equal ponzi.

I think the reference to retirement funds is in relation to the fact many of them are under collateralized. They need to take new investor's money to pay out old investors.

Some more background here:

https://www.google.com/amp/s/www.wsj.com/amp/articles/an-ohi...

The situation is pretty extreme. To be honest, these really _do_ look like Ponzi schemes.

No.

> Honestly index funds and cash from retirement savings is a ponzi scheme as well then

The comment was pretty clear: index funds, and cash.

Defined benefit pension funds are absolutely ponzis and should be outlawed. But this is not what OP said.

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