Fed Policy And The Great Trust Robbery

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

 

[Onyx]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

I hope social security does die.

Maybe then individuals will not plan their economic future based on an imaginary government safety net.

 

[Toddsterpatriot]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

Why do you think the Trust Fund exists?

 

[Dale Smith]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

The Fed needs a top to bottom audit, it's assets taken and pout in trust and then nationalized. It's been nothing but a parasitic entity from the start.

 

[Dale Smith]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

I hope social security does die.

Maybe then individuals will not plan their economic future based on an imaginary government safety net.

Safety net? 15 percent of every dollar I made was to be sat aside and I had no choice in the matter. It's not an entitlement program, it's a Ponzi scheme.

 

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

Why do you think the Trust Fund exists?

Because it holds assets that are obligations of the Federal Government no different from those held by private pensions. Those bonds are legally enforceable obligations, unlike the promises that the system makes to workers.

Why do you think that the Trust Fund doesn't exist?

 

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

I hope social security does die.

Maybe then individuals will not plan their economic future based on an imaginary government safety net.

Safety-Net? Bernie Sanders and his wife collect about $50,000 per year. What does it protect you from? the adverse affects of a good job? By that measure, the lottery is a safety-net.

 

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

The Fed needs a top to bottom audit, it's assets taken and pout in trust and then nationalized. It's been nothing but a parasitic entity from the start.

What will an audit do? All of the information about ZIRP is public knowledge. Ben Bernanke has testified about the policy before Congress. There isn't much hidden there.

 

[Norman]

Negative interest rates are a crazy idea... that only a desperate government which has promised more than it can deliver would like to enact. The beginning of the end is here.

 

[Norman]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

I hope social security does die.

Maybe then individuals will not plan their economic future based on an imaginary government safety net.

Safety net? 15 percent of every dollar I made was to be sat aside and I had no choice in the matter. It's not an entitlement program, it's a Ponzi scheme.

Nope... nothing was set aside, that's not how social security works, it's a pay as you go plan. Meaning you pay for the retirement of the old people and the young pay for you. Funded exactly like a pyramid scheme.

 

[Dale Smith]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

The Fed needs a top to bottom audit, it's assets taken and pout in trust and then nationalized. It's been nothing but a parasitic entity from the start.

What will an audit do? All of the information about ZIRP is public knowledge. Ben Bernanke has testified about the policy before Congress. There isn't much hidden there.

There is plenty being hidden. Like which banks were given this worthless fiat currency that we are on the hook for to their banks in other countries during the 2008 crash. Are you a backer of a central banking system that extends credit from nothing? Are you a supporter of this entity whose shareholders are international bankers? If so, you are not much of an "economist"......

 

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

The Fed needs a top to bottom audit, it's assets taken and pout in trust and then nationalized. It's been nothing but a parasitic entity from the start.

What will an audit do? All of the information about ZIRP is public knowledge. Ben Bernanke has testified about the policy before Congress. There isn't much hidden there.

There is plenty being hidden. Like which banks were given this worthless fiat currency that we are on the hook for to their banks in other countries during the 2008 crash. Are you a backer of a central banking system that extends credit from nothing? Are you a supporter of this entity whose shareholders are international bankers? If so, you are not much of an "economist"......

I am not much of an economist, and I don't think central bank's owning $6 trillion in debt is a smart move.

 

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

I hope social security does die.

Maybe then individuals will not plan their economic future based on an imaginary government safety net.

Safety net? 15 percent of every dollar I made was to be sat aside and I had no choice in the matter. It's not an entitlement program, it's a Ponzi scheme.

Nope... nothing was set aside, that's not how social security works, it's a pay as you go plan. Meaning you pay for the retirement of the old people and the young pay for you. Funded exactly like a pyramid scheme.

That is how Social Security worked for the first 40 years, and soon will be again. Today the Trust Fund contributes about 100 billion which equates to roughly 25 million workers who are not young.

 

[Norman]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

I hope social security does die.

Maybe then individuals will not plan their economic future based on an imaginary government safety net.

Safety net? 15 percent of every dollar I made was to be sat aside and I had no choice in the matter. It's not an entitlement program, it's a Ponzi scheme.

Nope... nothing was set aside, that's not how social security works, it's a pay as you go plan. Meaning you pay for the retirement of the old people and the young pay for you. Funded exactly like a pyramid scheme.

That is how Social Security worked for the first 40 years, and soon will be again. Today the Trust Fund contributes about 100 billion which equates to roughly 25 million workers who are not young.

There is no legitimate trust fund, it's just an accounting gimmick. In other words, if the trust fund would be gone tomorrow, nothing would be different. Government can create any amount of debt to itself without any issues, just like anyone can. It cancels out.

 

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

I hope social security does die.

Maybe then individuals will not plan their economic future based on an imaginary government safety net.

Safety net? 15 percent of every dollar I made was to be sat aside and I had no choice in the matter. It's not an entitlement program, it's a Ponzi scheme.

Nope... nothing was set aside, that's not how social security works, it's a pay as you go plan. Meaning you pay for the retirement of the old people and the young pay for you. Funded exactly like a pyramid scheme.

That is how Social Security worked for the first 40 years, and soon will be again. Today the Trust Fund contributes about 100 billion which equates to roughly 25 million workers who are not young.

There is no legitimate trust fund, it's just an accounting gimmick. In other words, if the trust fund would be gone tomorrow, nothing would be different. Government can create any amount of debt to itself without any issues, just like anyone can. It cancels out.

That is an opinion that does not have a basis in law. If you visit page 257 of the Trustees Report, they tend to discount this type of thinking because it does not conform to current law. There is nothing in current law that would create any revenue to pay the system's bill. Wake me when the law changes.

If the Trust Fund were gone today, the program would by current law face immediate reductions of benefits. Maybe the laws change, but once we get into maybes, the discussion is little more than candy and nuts. It would be Christmas all year round.

 

[Toddsterpatriot]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

Why do you think the Trust Fund exists?

Because it holds assets that are obligations of the Federal Government no different from those held by private pensions. Those bonds are legally enforceable obligations, unlike the promises that the system makes to workers.

Why do you think that the Trust Fund doesn't exist?

Because it holds assets that are obligations of the Federal Government no different from those held by private pensions.

Okay. Now if the SSA needs $10 billion to cover payments to beneficiaries, over and above the taxes they collect next month, what do they do?

 

[Toddsterpatriot]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

The Fed needs a top to bottom audit, it's assets taken and pout in trust and then nationalized. It's been nothing but a parasitic entity from the start.

What will an audit do? All of the information about ZIRP is public knowledge. Ben Bernanke has testified about the policy before Congress. There isn't much hidden there.

There is plenty being hidden. Like which banks were given this worthless fiat currency that we are on the hook for to their banks in other countries during the 2008 crash. Are you a backer of a central banking system that extends credit from nothing? Are you a supporter of this entity whose shareholders are international bankers? If so, you are not much of an "economist"......

Like which banks were given this worthless fiat currency that we are on the hook for to their banks in other countries during the 2008 crash.

Huh? No banks were "given" money. There were short term loans, long ago repaid.
And why would we be on the hook for these repaid loans?

 

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

Why do you think the Trust Fund exists?

Because it holds assets that are obligations of the Federal Government no different from those held by private pensions. Those bonds are legally enforceable obligations, unlike the promises that the system makes to workers.

Why do you think that the Trust Fund doesn't exist?

Because it holds assets that are obligations of the Federal Government no different from those held by private pensions.

Okay. Now if the SSA needs $10 billion to cover payments to beneficiaries, over and above the taxes they collect next month, what do they do?

Well taxes are only one revenue stream. If SSA needs $10 billion to cover payments to beneficiaries over and above the revenue that they collect? Benefits are reduced. No one knows the formula of the reductions at this point. Here is the CRS paper that answers your question.

FAS Project on Government Secrecycrs/misc/RL33514.pdf

 

[JoeTheEconomist]

Ben Bernanke is selling the concept of negative interest rate policies. This is going to kill Social Security and the elderly who depend upon fixed incomes. It is a subject that no one is talking about, so feel free.

This is my article which basically says that the Fed's policy has lowered the return of the Trust Fund by 10s of billions every year. It is only part of the reason that SS's solvency has pulled back from 2041 to 2034. (2029 if you believe CBO).

It’s well past time that the full consequences of the Zero Interest Rate Policies are discussed.

The Great Trust Fund Robbery

The Fed needs a top to bottom audit, it's assets taken and pout in trust and then nationalized. It's been nothing but a parasitic entity from the start.

What will an audit do? All of the information about ZIRP is public knowledge. Ben Bernanke has testified about the policy before Congress. There isn't much hidden there.

There is plenty being hidden. Like which banks were given this worthless fiat currency that we are on the hook for to their banks in other countries during the 2008 crash. Are you a backer of a central banking system that extends credit from nothing? Are you a supporter of this entity whose shareholders are international bankers? If so, you are not much of an "economist"......

Like which banks were given this worthless fiat currency that we are on the hook for to their banks in other countries during the 2008 crash.

Huh? No banks were "given" money. There were short term loans, long ago repaid.
And why would we be on the hook for these repaid loans?

I think you are talking about TARP loans. These were repaid in part with more loans at better terms. Outside my depth and recall, but I think that the Fed booked assets on the book at whatever the banks said that they were worth. There are a ton of different loan programs going.

 

[Granny]

Mmmm...same guy who came running through the door of the Oval Office near the end of Bush2's presidency ... all panic stricken and announcing to Bush that our economy was in end stage collapse. Bernanke KNEW ... with his financial background and position as head of the Federal Reserve ... he KNEW waaaaay before he stormed the Oval Office what HAD BEEN going on "in the inside" all along.