heh heh
you big bully.
You do realize that your only scored hit was in the other thread? All you have in this thread is an insult against my character out of left field. You've got to stop that sloppiness, mr Gabriel, before it does you in, again. Do you have the first clue what this top post is about? No one understands these bonds in our trust funds because they can't understand a special type Treasury written by Congress (not the Treasury) to the fund. That's why I call them "place holder" binds... it describes the action of the bond. These bonds can not be sold on the open market and they are worthless to the trust funds because they can't be redeemed, they just sit there in trust and when the time comes for their redemption, Congress just replaces them with a new bond that incorporates the full value of the old bond. So, as far as Fairsheet's idea of writing new debt at the current market rate to replace the old debt at higher rates... that's already happening... but the point is moot; while dumbass credit rating agencies are counting this debt as part of our national debt, the trust funds are never going to get those bonds redeemed by Congress, so what difference does it make what their rates are? It is a big cluster f*ck, is all, and I'm saying we, as a nation, would be better off moving those bonds out of trust. The only legal way to do that is issue them to the beneficiaries, but you can't send out billion dollar bonds, obviously, you would need to break them down. It's a goofy solution. It would make more sense to move them onto the open market, but that would not only be illegal... no one would buy them. So, finally, I say we should just mark new bonds entered on the market against the place holder bonds... now this is where no one is listening, IOW, take the revenue from new bond sales and redeem the place holder bonds... the trust funds are joined to the general fund anyway. That clears out those bonds and lowers our national debt.
totally legal, easy to do, but these guys do not understand what is being spoken.
of course, neither do you.
My only fault in the other thread was knowing too much over the past decade and not enough about the past year.