{"id":3781,"date":"2026-07-09T14:38:00","date_gmt":"2026-07-09T14:38:00","guid":{"rendered":"https:\/\/propertyrelocationusa.com\/?p=3781"},"modified":"2026-07-09T14:38:00","modified_gmt":"2026-07-09T14:38:00","slug":"elon-musk-devised-the-worlds-biggest-ponzi-scheme-and-forced-americans-to-buy-in","status":"publish","type":"post","link":"https:\/\/propertyrelocationusa.com\/?p=3781","title":{"rendered":"Elon Musk devised the world’s biggest Ponzi scheme \u2014 and forced Americans to buy in"},"content":{"rendered":"
\n

Friends,<\/p>\n

This week, on their first day of trading on the Nasdaq-100 stock index, SpaceX\u2019s shares dropped 6.8% to $149.47. That\u2019s above their IPO price of $135, but down from a peak above $200, and below the $150 price where shares began trading on June 12.<\/p>\n

Read more CNN braces for CBS-style chaos as boss admits he can\u2019t escape \u2018tension\u2019 even in his home<\/a><\/p>\n

SpaceX\u2019s decline disappointed investors who wagered that inclusion in major indexes would provide a boost to the shares.<\/p>\n

But, what about all the Americans who didn\u2019t even know they were buying into SpaceX, but whose savings are in index funds linked to SpaceX and the Nasdaq-100? They\u2019ve been taken for a ride.<\/p>\n

On May 1, the Nasdaq 100 implemented a new \u201cfast entry\u201d rule that included companies among the top 40 most highly valued in the U.S. \u2014 which put SpaceX on board automatically.<\/p>\n

The result: A big chunk of Americans\u2019 retirement savings and pensions (as well as university endowments) are now automatically<\/em><\/em> tied to SpaceX\u2019s market value.<\/p>\n

At the same time, all that automatic infusion of investment was expected to jack up the value of SpaceX, at least in the short term.<\/p>\n

If today\u2019s launch is an indication, that didn\u2019t happen.<\/p>\n

SpaceX insiders <\/em><\/em>\u2014 such as Musk and, reportedly, senior Trump officials \u2014 can sell their shares sooner than is usually the case with an IPO, because that\u2019s the way the SpaceX IPO has been structured. Which means they can enjoy the stocks\u2019 upward tide as the major indices have essentially forced millions of investors to buy it, and then they can still exit SpaceX before the tide runs completely out.<\/p>\n

Read more \u2018That\u2019s all right\u2019: Trump shrugs as bombing triggers fresh gas pump misery<\/a><\/p>\n

If this sounds to you like a Ponzi scheme, it does to me, too. SpaceX may turn out to be the universe\u2019s biggest Ponzi scheme \u2014 with the possible exception of Trump meme coins.<\/p>\n

Of course, the Nasdaq\u2019s overall weakness today didn\u2019t help. Weighed down by semiconductor stocks, the Nasdaq composite fell 1.2%. The S&P 500 dropped 0.4%. The Dow Jones Industrial Average slipped 0.2%.<\/p>\n

But investors have been nervous about SpaceX for weeks. The rocket company started to veer off course with a report out on June 22 that, notwithstanding all the hoopla surrounding its IPO\u2019s raising $85 billion in its first trading days, SpaceX wasn\u2019t really flying all that high.<\/p>\n

In fact, it was floating a $20 billion bond sale to refinance its debts (mostly from its acquisition of X, on which Musk had put a lofty valuation). The sale seemed to go well initially, but the bonds dropped in the secondary market to a degree rarely seen by investors, driving up their yield premium (or spread) to U.S. Treasurys.<\/p>\n

So SpaceX investors are now confronting several big unknowns, including how much cash SpaceX will burn and how much borrowing it will do going forward.<\/p>\n

Which means average Americans who hold their savings in index funds are flying blind, even if they don\u2019t yet know it. They may even be lost in space.<\/p>\n

Read more \u2018Wait!\u2019 Trump fan\u2019s \u2018bimbo\u2019 rant derails live TV with call to ban all women lawmakers<\/a><\/p>\n