Adele Spitzeder, born into operatic royalty, washed up when she tried a career on the stage: so instead, she started accepting bank deposits for 10% monthly interest, and paying old customers with new customers' money. In three years, she amassed deposits of 38 million Gulden, or the equivalent of more than 500,000,000 euros: the world’s first Ponzi scheme. Attempts to squirrel away some money by smuggling it with her girlfriend went about as well as expected.
Subscribe to Extra Bad Gays for monthly episodes, our advice segments, and to support our work.
Check out our new merch, including hats, shirts, and socks.
----more----
SOURCES:
“Adele Spitzeder.” Accessed February 18, 2025. https://www.literaturportal-bayern.de/themen?task=lpbtheme.default&id=697.
“Betty Vio – Biographische Informationen aus der WeGA.” Accessed February 18, 2025. https://weber-gesamtausgabe.de/de/A008536.html.
“‘Die Zehn Gebote Der Adele Spitzeder’, Bild 1 von 14 | MDZ.” Accessed February 18, 2025. https://www.digitale-sammlungen.de/de/view/bsb10999593?q=%28adele+spitzeder%29&page=1.
“Digitale Bibliothek - Münchener Digitalisierungszentrum.” Accessed February 18, 2025. https://daten.digitale-sammlungen.de/0006/bsb00067974/images/index.html?fip=193.174.98.30&id=00067974&seite=1000.
Dokumentation, Österreichisches Biographisches Lexikon und biographische. “Spitzeder, (Johann) Josef.” Text. ISBN 978-3-7001-3213-4. Verlag der Österreichischen Akademie der Wissenschaften, 2003. https://www.biographien.ac.at/oebl/oebl_S/Spitzeder_Josef_1794_1832.xml.
Freiberger, Harald. “Geld - Adele Spitzeder und ihr Schneeballsystem.” Süddeutsche.de, November 11, 2017. https://www.sueddeutsche.de/muenchen/schneeballsystem-es-begann-in-der-au-1.3743735.
“Germany - Metternich, Unification, 1815-71 | Britannica,” February 18, 2025. https://www.britannica.com/place/Germany/The-age-of-Metternich-and-the-era-of-unification-1815-71.
Schumann, Dirk. “Der Fall Adele Spitzeder 1872: Eine Studie Zur Mentalität Der ‘Kleinen Leute’ in Der Grübderzeut.” Zeitschrift Für Bayerische Landesgeschichte 58, no. 2/3 (1995): 991–1025.
Spitzeder, Adele. Geschichte meines Lebens. Stuttgarter Verlagscomptoir, 1878.
Zeno. “Lexikoneintrag zu »Spitzeder-Vio, Betty«. Damen Conversations Lexikon, Band 9. [o.O.] ...” Accessed February 18, 2025. http://www.zeno.org/DamenConvLex-1834/A/Spitzeder-Vio,+Betty.
Our intro music is Arpeggia Colorix by Yann Terrien. Our outro music is by DJ Michaeloswell Graphicdesigner. Image via.
