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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 Italian businessman Charles Ponzi, this type of scheme misleads investors by either falsely suggesting that profits are derived from legitimate business ...
In finance, discounting is a mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee. [1] Essentially, the party that owes money in the present purchases the right to delay the payment until some future date. [2]
The ten percent plan, formally the Proclamation of Amnesty and Reconstruction (13 Stat. 737 ), was a United States presidential proclamation issued on December 8, 1863, by United States President Abraham Lincoln, during the American Civil War. By this point in the war (nearly three years in), the Union Army had pushed the Confederate Army out ...
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