The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Larry S. who wrote (26000)	2/8/2005 10:56:28 AM
From: el_gaviero	Read Replies (2) of 110194

I don’t think what you and I are saying differs very much, although it seems to me you suffer a sort of “money illusion.” Those ‘special treasuries’ you keep talking about are nothing, zip, nada. Take it from the top. The SS Administration overcharged by 1.3 trillion dollars. The US government spent the 1.3 trillion dollars. The US government gave the SS Administration a piece of paper called a ‘special treasury.’ Those special treasuries are not an obligation of the US government. They are nothing. Absolutely nothing. What IS an obligation of the US government is the money that it has promised to pay retirees. When it comes time to pay, the US Gov. can’t go to the Lock Box, because all the Lock Box has in it are ‘special treasuries’ and those are illusions. Therefore, the US government will have to use tax money, or borrow to pay up. Thought Experiment: suppose every old person receiving SS payments were to die of Avian flu. Would the US government redeem the ‘special treasuries’ in the Lock Box with all the extra money it would have. No, it would not. The purpose of those ‘special treasuries’ is to deceive. Period, end of story.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next