Vandalshandle
Gold Member
They are worthless to the government because they are liabilities to the government. I don't know how may times this has to be repeated. How many times do you numskulls have to be told that you can't loan money to yourself?
There's no account in your name, so those treasuries are worthless to you. They are also worthless to the government because the government issued them. When it comes time to redeem them, the party paying them off will be the government and the party collecting the proceeds will be the government. In other words, the government will be paying money to itself.
You really have to be fucking stupid to believe that the so-called "trust fund" has real money in it.
My mutual fund IRA's have no "real money" in them, either, and I am not "fucking stupid".
There are so many flaws to the privatization of SS argument that it is hard to decide where to begin. I guess that I will go with what happened to my brother. He has two master's degrees, and used to own his own airplane. He made very good money all of his life. A major portion of it was in stock in the company he worked at for 40 years. The stock made him more than a millionaire, and more. Then came the 2008 meltdown. He rode it all the way down. Then to meet his mortgage, medical expenses, and other obligations, he was forced to cash in, near the bottom. Now, he is 74 years old, and worth about 35% of what was worth in 2007. The airplane is gone, the cruises have ended. Yes, he still has a few hundreds of thousands in savings and investments, but he now lives on his SS earnings. He could have easily been wiped out completely. Oh, and BTW, he DOES have a professional financial advisor.