A scene from the 1920s Ponzi scheme (left) and a depiction of the shadow of national bankruptcy symbolizing South Korea's IMF financial crisis (right). The damage from the Ponzi scheme was 1 trillion won, but the damage that a "regime scam" could cause is far greater. Hanmi Ilbo graphic

In the 1920s, notorious American con artist Charles Ponzi promised investors "risk-free, high returns." 

In reality, he made no investments. He simply maintained a simple "cash-rolling" structure, using money from new investors to pay dividends to earlier investors. 

Initially, some investors received their money, fostering rapid trust, and people rushed to entrust their funds. However, the structurally unsustainable scam eventually collapsed, and the damages were passed on to the public.

Today, the reality in South Korea is not much different. 

After taking office, the Lee Jae-myung administration presented rosy promises of "prosecutorial reform, media reform, welfare expansion, and economic growth." However, tangible results have been scarce, or have even backfired.

Prosecutorial reform has degenerated from a means of upholding justice to a tool for eliminating political rivals; media reform has become a mechanism for suppressing critical media. Welfare expansion has morphed into a handout of cash, draining the national treasury. Just as Ponzi tricked investors to buy time, this administration is also deceiving the public to prolong its power.

According to the authorities' announcements, the damage from the Ponzi scheme approached 1 trillion won. While this was an enormous sum, it is a mere pittance compared to the damage that a "regime scam" can inflict. 

Financial fraud robs individuals and corporations of their money, but a regime scam destroys the nation's finances, security, and the future of its people. South Korea's current fiscal deficit, corporate exodus, and the despair of the younger generation are not merely economic figures but the results of a regime scam structure.

Regime scams are always maintained by accomplices. 

Just as the fact that early investors in the Ponzi scheme actually received money inflated public trust, a regime scam also has four pillars of accomplices. 

First, ruling party politicians deceive the public by framing all actions as "reform." 

Second, some media outlets act as mouthpieces for the administration, concealing unfavorable truths and manipulating public opinion. 

Third, the bureaucracy, aware of the policies' flaws, remains silent or complies with the administration's will. 

Fourth, the judiciary functions as the regime's most powerful guarantor. Biased decisions, controversies surrounding special prosecutor appointments, and trial delays instill a sense of powerlessness in the public and serve to buy time for the regime.

The Lee Jae-myung administration employs the same tactics on the diplomatic stage. 

Ahead of the summit with President Trump, the administration displayed an almost subservient attitude, but the results were unchanged. In fact, U.S. trade and security pressure intensified. The administration framed this as an "achievement," but it was no different from the fake profit certificates Ponzi showed his investors.

Just before the South Korea-U.S. summit, President Trump referred to the political situation in Korea, using the words "purge and revolution." 

Although a blunt expression, it clearly and simply reveals the reality in Korea. It suggests that power struggles should be interpreted not in the language of democracy and the rule of law, but in the language of purges and power realignments. Did the facade of this administration become clearer to the outside world?

The end of a Ponzi scheme has always been the same: when new funds stop coming in, the structure collapses, leaving only damage. South Korea's regime scam is no different. The fiscal situation has already reached its limit, corporations are considering leaving, and the youth are losing their future. Security concerns are growing, and international pressure is mounting. In this situation, the administration's slogans and propaganda can no longer mask reality.

What the public must do is clear. 

It is to face the essence of the scam directly and to stop being deceived any longer. As long as the regime's "cash-rolling" politics continue, the damage will inevitably snowball. 

The lesson from the Ponzi scheme is clear: scams can never be sustained. 

The scam of the Lee Jae-myung administration is no exception. Collapse is only a matter of time, and the only way to mitigate the damage is through the firm choice of the people.

#PonziScheme #RegimeScam #LeeJaeMyungAdministration #YellowEnvelopeAct #KimKeonHeeSpecialProsecutor #MediaControl #JudicialBias #NationalBankruptcy #TrumpStatement #HanmiIlboColumn