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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (136076)	8/22/2013 10:02:29 PM
From: RetiredNow	Respond to of 149317

Wharf, the SS Trust fund only has assets on their books called "Special Issue" Treasury Notes, that are NOT marketable to anyone on earth. The only thing they are good for is a claim on the US Treasury. The SS Trust Fund holds no ECONOMIC ASSETS or tradable securities. So when the SS Trust Fund gets "interest" on those Special Issue notes, it is nothing but an accounting entry, which represents an asset in the SS Trust Fund's books and a liability in the US Treasury's. The SS liabilities to beneficiaries are backed only by the full faith and credit of the US government. The US government long ago raided and depleted all economic assets held by the SS Trust Fund and replaced them with these I.O.U.s called Special Issue Notes. I know this is shocking to learn, but did you know how I found this out? I read the SS Trust Fund's own reports and scoured their website for information. It's all open to the public. What I have explained to you is not speculation and not opinion. It is fact and you can confirm it for yourself on the SS website: ssa.gov