Toddsterpatriot
Diamond Member
The FACT IS -- that interest was never paid during the life of the debt. Like it is on REAL bonds.
It was paid and bought more bonds. Just like real bonds re-investing the interest.
There weren't any bonds. There weren't any actual payments made. No reinvestment in ACTUAL BONDS. It's a book-keeping entry. AND the proper term for the JUNK that's in there is not bonds. They are called Inter-Governmental Dept Debit Memos.. They are NOT an investment. They are worthless IOUs with ZERO power to pay the bills. YOU'RE gonna be robbed again to pay for the money and phony interest that the Congress and Leadership stole from you 30 years ago.. And then did NOTHING to manage the situation..
There weren't any bonds.
You act like bonds don't count unless you can touch them.
Remember the final scene of Die Hard? All those Bearer Bonds fluttering around
after the building explodes? That was cool!
Treasury Bonds are all bookkeeping entries now.
They don't even send you a paper savings bond anymore.
All electronic.
I guess you can claim savings bonds are worthless IOUs.
I'll disagree with you there too.
YOU'RE gonna be robbed again to pay for the money and phony interest that the Congress and Leadership stole from you 30 years ago..
When the Trust Fund stops reinvesting the interest earned and starts redeeming bonds to pay benefits, it wouldn't make one bit of difference if the funds were held at Fidelity or held by the US government, that money is coming from the US taxpayers would cough up the dough every single time a bond matures.
Complete BS. As you've been denying, Bonds held at Fidelity provide YEARLY income, tangible assets and their VALUE floats with the markets. These are not bonds. The fund was ignored and feloniously mismanaged. If it were subject to SEC -- folks would be in jail...
And it DOES make about a $TRILL difference in BUDGETING and PAYING THAT DEBT.. ZERO was invested or paid during the 30 years of theft. They left that up to YOU to cover ever $$ of SS income shortfall TODAY.
NOTHING comes out of the Trust Fund to pay for ANYTHING..
The fund was ignored and feloniously mismanaged.
You can say many things about a fund with 100% US Treasury Bonds, mismanaged probably isn't one of them.
And it DOES make about a $TRILL difference in BUDGETING and PAYING THAT DEBT
It makes zero difference. Not one dollar.
Bonds held at Fidelity provide YEARLY income, tangible assets and their VALUE floats with the markets.
Let's think about 2 Trust Funds, each with $2.6 trillion in Treasury Bonds.
One is held at Fidelity. Every week day, $10 billion in 1 year Treasuries matures. $50 billion each week.
$2.6 trillion each year.
Fidelity takes the cash they get from the US Treasury, $10 billion plus interest and buys a new 1 year Treasury, at the Treasury website.
The other is held by the US government. Every week day, $10 billion in 1 year Treasuries matures. $50 billion each week. $2.6 trillion each year.
The Treasury issues a new 1 year Treasury to the Trust Fund. $10 billion plus interest.
At the end of the week, each fund has exactly the same number of bonds earning the same interest rate.
The day arrives when the funds have to pay out more benefits than they receive in payroll taxes.
The Fidelity fund decides that on Monday, they'll just take the cash.
The Treasury was used to the rollover, they don't have that much cash sitting around.
They go out into the market and sell $10 billion in 1 year Treasuries to the public.
The government held Trust Fund does the same. They notify the Treasury, they'll take cash on Monday.
The Treasury was used to the rollover, they don't have that much cash sitting around.
They go out into the market and sell $10 billion in 1 year Treasuries to the public.
Any difference in the value or behavior of the 2 funds?
Can anything come out of the either Trust Fund to pay for anything?