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Look up Galveston County, Tx. Their employees (and three other counties, IIRC) opted out of SS in the early 70s before it was outlawed. Set up their own system.Remember when Bush suggested that people be allowed to invest just part of their SS contributions in the stock market, Dems squealed like stuck pigs. Dems claimed we might lose money in the market, to which I replied as opposed to what you assholes spending every last dime of my money for a 100% loss?
It’s a legal ponzi scheme, dumbass. Still a Ponzi scheme.repeating false information is not proof.
If you have proof it is an illegal Ponzi Scheme, take it to court
They will laugh at you
You're one of those "economics challenged" liberals who believe there is a finite amount of wealth and the if a rich person has wealth it means they somehow took it from a poor person...aren't you, Old Rocks?You know what that tells me, dumb fuck? That the upper ten percent get way to much of the income in this nation. Time for the middle class and working poor to get their share of the wealth that they create.
Take it to court?repeating false information is not proof.
If you have proof it is an illegal Ponzi Scheme, take it to court
They will laugh at you
You fucking retard, it's not an illegal ponzi scheme, it's a legalized one.If you have proof it is an illegal Ponzi Scheme, take it to court
The wealthy pay the majority of taxes and don't use entitlement programs. Please explain how they benefit the most.Nobody benefits from our society as much as the wealthy
Not even close
Ta Da........ If depositors of said bank demand their money, that is rightfully theirs ^^^^^, the bank would go under, in record time.A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment
Wow. You actually think that's how loans work dont you......
Ta Da........ If depositors of said bank demand their money, that is rightfully theirs ^^^^^, the bank would go under, in record time.
But banks would never let that happen, they would stop withdraws and/or limit them.
Why don't you tell me my error.
So skippy, how do loans work?
googlethatforyou.com
Did I say Mortgage Companies?Banks borrow money from central banks or each other. It has little to nothing to do with how many deposits they have. Most mortgage companies don't have any depositors. Skippy....
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Banks require a reserve. That reserve BEGINS with deposits.You're a glutton for punishment..
Why Banks Don't Need Your Money to Make Loans
Here's more information about how banks don't need your money to make loans, but they do want it to make those loans more profitable.www.investopedia.com
Banks require a reserve. That reserve BEGINS with deposits.
They are also allowed to count loans as part of their reserve.
Which means that a “run on the bank” can not be covered beyond the FDIC guarantees
theentrepreneurfund.com
It's part of it.So a bank's lending power is or isn't limited to the amount of deposits it has?
It absolutely is limited by deposits...not completely but deposits are absolutely part of theri reserve requirementThe deposit's are a part of that lending power but it's not limited by that.
I never said deposits werent part of it. But they dont set the limit.It's part of it.
It absolutely is limited by deposits...not completely but deposits are absolutely part of theri reserve requirement
It’s a legal ponzi scheme, dumbass. Still a Ponzi scheme.
When RWI's can't win their case, they make up shit.....again.....just like this.You fucking retard, it's not an illegal ponzi scheme, it's a legalized one.
SS is a fraud.When RWI's can't win their case, they make up shit.....again.....just like this.
By definition, fraud is illegal.
By definition, A Ponzi Scheme is fraud.
But somehow you RWI are trying to use the phrase, "It's a Legal Ponzi Scheme." or "It's not an illegal ponzi scheme, it's a legalized one."
A Ponzi scheme is illegal, it's Fraud, by definition.
SS is Not Fraud.
Nice try.
So which people have gotten screwed so far.SS is a fraud.
Millions who have paid into it for decades will end up getting screwed.
Ever person who paid in and died before they collected?So which people have gotten screwed so far.
None.
