This wiki article would have been helped by a good relatable [edit:] REAL WORLD PRIOR example.
toomuchtodo•48m ago
Assume you have some wealth. Let us also assume I have embezzled that wealth. I spend as if it is mine. You spend and act as if you still have it, not knowing you do not. This is the bezzel.
Think of it as a quantum superposition of wealth that collapses when the illusion is revealed.
ggm•27m ago
You gave me an abstraction. I was seeking a historical instantiation. I have edited my text accordingly.
Thank you for your abstraction. This appears to be Bernie Madoff, or possibly Anthony Trollop's Augustus Melmotte.
toomuchtodo•1h ago
Why the Bezzle Matters to the Economy - https://carnegieendowment.org/china-financial-markets/2021/0... - August 23rd, 2021