The biggest ponzi is fiat currency: government bonds dollars to banks who get access to fresh, uninflated, dollars, with which they systematically disseminate through loans. These loans are priced with this additional surplus of cash in mind, giving them a small premium. This premium exists because banks can loan out funds at the previous interest rate, thus accruing a small (let's say) 1% premium. These loanees, often people and corporations with large amounts of credit and capital, receive these dollars with only a bit of inflation added to them, let's say 1%. So, the banks essentially got a 1% additional premium on the loan. Now, these corporations with these loans go to buy goods. Because they have more nominal cash, they can buy more things, but of course, they receive more proportionate to their increase in cash, allowing them to take a (let's just say) 1% premium. Then this goes on and on all the way down to the average consumer, who receives their dollars last. After all the loans have been issued, and all the supplies bought, and all the retail sales have been made, the worker is finally paid. As we all know with ponzis, the bottom of the pyramid eats all the costs. Imagine the business flows in which money travels from the government to banks to corporations to manufacturers/suppliers to middlemen to retail and then finally to the individual. At each step of the way, each group took a 1% premium on the additional money they received vs. the money they used to buy goods. When you make it all the way down to the user, there's none below, so the user (the typical human on Earth), is stuck with a 5% inflated dollar, the same dollar that the bank used earlier at 0% inflation. This is by definition a ponzi.