"A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own."
This is the definitive first paragraph which wikipedia offers as a description to a fraudulent business endeavour, better known as a Ponzi - and named after Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi who contrived the scheme in the 1920's
So here we are, on the very day that the boss of the (you can send in your money but it can't be regarded as a deposit - and you can't withdraw it again) 'BANK' quits suddenly from this Scottish Nationalist Party ponzi scheme.
Yes, they actually named it a BANK. The Scottish National Investment Bank - to be precise.
So let's look at how it operates, and the reason why anyone working with it, would decide not to be associated, with it.
The Scottish National Investment Bank officially opened its doors with a fanfare announcement across the usual complicit media channels, by Nicola Sturgeon, in November 2020. Ms Sturgeon found it appropriate to immediately load up £2 billion of public money into the scheme (keep this number in mind), and if you were to believe that mainstream media, this money would be designed to provide capital to firms in Scotland that meet the scheme's “mission-led” criteria - mostly garbled nonsense about net-zero.
Net-zero... as our energy bills rise by over 50% to cover the costs of these lunatic 'green' schemes.
The SNIB scheme then concluded that it would be a good idea for Scottish devolved assembly ministers to have a portion of that public money, in their own names as account trustees and enforces with the declaration on it's website 'thebank.scot' that it's actually a bank, really a bank and honestly, a bank, after all.
'Funded by Scottish Ministers' - to the tune of £2bn.
Are you paying attention yet?
So the Scottishy Bank (funded by Scottish Ministers , of course) will offer £1m or more in investment in businesses which kowtow to the nationalist narratives - amongst other things, green scheme lunacies like net-zer0.
Seriously, i'll repeat that. SNIB was initially funded with £2bn, and the website states it was deposited personally by politicians.
Investment, by definition isn't always about return of income, to be fair and as seen on the SNIB website portfolio page, the funding offered to date have been mostly to adhering business endeavours:
There is no statement on the website of how these investments will be paid back to the public purse, or when they will be required to pay back to the public purse, yet in the articles of association, there is one single section which covers the all-encompassing ability of 'Scottish Ministers' to draw expenses.
That last sentence... in yet another perfect nationalistic ideology which we see so regularly with the current political party in power in Scotland - Directors (nationalist politicians et al) may draw upon funds to cover whatever expenses they wish, as long as the narrative relates to the (yes it's a) 'bank' (honestly).
They even created an act of law which relates specifically to this 'bank' and named it The Scottish National Investment Bank Act 2020 (the "Act")
So this ponzi has it's own legislation, is funded by politicians (right?) and it's directors (SNP politicans and their hand selected accomplices) can draw from it, to fund their expenses. Okidoky.
Conservatism in it's finest glory?
To say that would be a slur against conservatism, such is the tight legal framework which a cabal of politicians must enforce to a state of self ascension, elevating them above the law.
1.3 of SNIB framework, again, with £2bn, the Scottish devolved assembly have seen fit to just take that money as their own - from the pubic purse, rebrand it as personal investment and allow them to draw upon as they see fit and invest in any applicant business who kowtows to the nationalistic narratives, of which as mentioned include the un-achievable 'net-zero'.
The epitome of a ponzi scheme, as the articles of the SNIB allow anyone to send money into it, cannot be classed as a deposit and once the money is there, they cannot withdraw it, lest applying for a business investment, oneself.