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International reply coupon. An international reply coupon (IRC) is a coupon that can be exchanged for one or more postage stamps representing the minimum postage for an unregistered priority airmail letter sent to another Universal Postal Union (UPU) member country. IRCs are accepted by all UPU member countries.
In the 1920s, Charles Ponzi carried out this scheme and became well known throughout the United States because of the huge amount of money that he took in. [4] His original scheme was based on the legitimate arbitrage of international reply coupons for postage stamps, but he soon began diverting new investors' money to make payments to earlier ...
The Ponzi Scheme is named after him. He claimed he would double investors' money in 90 days through a bizarre plan to buy and resell international postal-reply coupons. (These, according to the U.S. Postal Service, then operating as the Post Office Department, actually cannot be redeemed for cash.)
His racket involved enticing investors to buy discounted foreign postal reply coupons, which they could redeem at face value for U.S. postage stamps. Using money from new investors to pay existing ...
Charles Ponzi was born in Lugo, Emilia-Romagna, Kingdom of Italy on March 3, 1882.He told The New York Times he had come from a family in Parma.Ponzi's ancestors had been well-to-do, and his mother continued to use the title "donna", but the family had subsequently fallen upon difficult times and had little money. [3]
Over the past two decades, more than 40,000 boys and girls in 16 states have gone through one of Slattery’s prisons, boot camps or detention centers, according to a Huffington Post analysis of juvenile facility data. The private prison industry has long fueled its growth on the proposition that it is a boon to taxpayers, delivering better ...
International reply coupons If you receive a letter from overseas containing International Reply Coupons, you can redeem the coupons for stamps to send a small letter up to 50g by Economy Air. You can also purchase International Reply Coupons to send to your receivers.
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