Pyramids & Ponzi Schemes

If you are skipping the B2 test,
please follow the online assignment:
PYRAMIDS & PONZI
PYRAMIDS & PONZI
WORK IN CLASS
WORK IN CLASS
1 / 17
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Slide 1: Tekstslide
EngelsMBOStudiejaar 2

In deze les zitten 17 slides, met interactieve quizzen, tekstslides en 1 video.

Onderdelen in deze les

If you are skipping the B2 test,
please follow the online assignment:
PYRAMIDS & PONZI
PYRAMIDS & PONZI
WORK IN CLASS
WORK IN CLASS

Slide 1 - Tekstslide

Read-Think-Speak
What is the current value of bitcoin?

What would you do if you had 100 bitcoins?
Homework from last week's class

Slide 2 - Tekstslide

What would you do if you had 100 bitcoins?

Slide 3 - Open vraag

Today's class focusses on pyramid and Ponzi schemes. They are a lot more common than you think! 
Pyramid and Ponzi schemes are very similar scams.

Slide 4 - Tekstslide

What do you know about.....
pyramid
schemes?

Slide 5 - Woordweb

Prepare with some vocabulary.
Watch a video: Ponzi schemes.
Answer questions about the video.
Start your writing assignment.
Hand in rough-version --> Teams.

Slide 6 - Tekstslide

IMPORTANT VOCABULARY:  
  • scheme = a plan you make, usually with the intent to do something wrong/ illegal.   
  • embezzle = steal money from someone who trusted you with it.
  • legitimate = legal or acceptable.
  • investment returns = the profit you made on an investment.
  • mortgage = the loan you get from the bank to buy a house.
  • collapsed = to break down completely.

Slide 7 - Tekstslide

Slide 8 - Video

Why is the Ponzi scheme named after Charles Ponzi?
A
Ponzi invented the scheme (by accident).
B
The scheme is old, but Ponzi made it famous.
C
The Ponzi family is famous for schemes.
D
Charles Ponzi himself called it: Ponzi scheme.

Slide 9 - Quizvraag

How did a letter from Spain start this whole thing?
A
There was a mistake in the Spanish coupon and Ponzi used it.
B
A Spanish friend told Ponzi he could earn money with coupons.
C
It came with a coupon that was worth more than US letter coupons.
D
A return coupon was included that could be traded for money.

Slide 10 - Quizvraag

Arbitrage = Buying something in one market, then immediately sell in in another market for more.

Is 'dropshipping' a form of arbitrage? Why (not)?
Dropshipping = when you sell products online, but you don't actually have them (in stock). Instead you buy them cheaper somewhere else (like AliExpress) and send them straight to the buyer. The profit is yours.
The customer usually thinks they are buying the product from a real seller.

Slide 11 - Open vraag

What did investors do when Ponzi gave them high returns (= profit)?
A
They gave it all back to Ponzi, to invest again.
B
The told other people about how great it was.
C
They invested it and bought houses with it.
D
They gave Ponzi a lot of money as a gift.

Slide 12 - Quizvraag

Why did the scheme fail?
A
It took too much time to send the reply coupons.
B
Ponzi could not find enough employees.
C
The Spanish government found out.
D
There's not a lot of $$$ in reply coupons.

Slide 13 - Quizvraag

Why did Ponzi buy a Macaroni company?
A
He thought it would make a lot of money.
B
He used it as a cover to hide his money.
C
He was so rich, what else would he buy?
D
He was a big macaroni fan, it was his dream.

Slide 14 - Quizvraag

Why did some banks collapse when Ponzi's scheme failed?
A
Some banks had also invested with Ponzi.
B
People lost all their money and could not pay their mortgage.

Slide 15 - Quizvraag

Today you will start on a short essay
about cryptocurrency.

 You will discuss the following points:
  •  What you would do if you had 100 bitcoins.
  • Three similarities between cryptocurrency and Ponzi schemes.
  • What you think is the real danger of cryptocurrency.

WORD COUNT = 200 -250 words
Similarities = overeenkomsten
--> OPDRACHTEN

Slide 16 - Tekstslide

Hand in the 'rough sketch'
for your essay TODAY.

Good luck!   :D

Slide 17 - Tekstslide