to the extent that they involve dishonesty/fraud, yes. Arguably, when monetary supply increases are publicized, then there is no dishonesty, so not a ponzi sch

to the extent that they involve dishonesty/fraud, yes. Arguably, when monetary supply increases are publicized, then there is no dishonesty, so not a ponzi scheme. They have another component though: legal tender laws that force people to accept them for debts, and capital gains laws on other assets that give them an unfair advantage. So ponzi or not -- probably not what the free market would choose in the absence of such laws.