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SS Trust Fund Treasuries: due and payable

Discussion in 'Economics, Business, and Taxes' started by Days, Feb 25, 2013.

  1. gabriel

    gabriel Governor

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    lol! our resident expert in virtually everything is now more knowledgable of the bond market than the US government!! lol
     
  2. connorbug

    connorbug Council Member

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    No, there are different senses of the word 'broke' - Social Security is said to be running in the RED of course because its in deficit. The 'broke' typically applies to the time when the trust fund will exhaust its assets and will only be able to rely on incoming contributions.

    "2033, three years earlier than projected last year. Thereafter, tax income would be sufficient to pay only about three-quarters of scheduled benefits through 2086. "

    What's the first rule of Tautology Club? I mean, really, are you kidding me? The value of the bonds has nothing whatsoever to do with who the buyer is. NOTHING.

    That is just completely befuddling on so many levels. Its just not worth responding to, it really isn't

    "I want to write new debt against those place holder bonds; aka, put those bonds on the open market.'"

    Essentially you're suggesting that the SSA just issue bonds collateralized by their existing portfolio of government bonds, ie. they would issue NEW bonds pledging repayment with the government bonds. That's not putting 'those bonds on the open market' by the way.

    "can't hold those bonds against our credit rating[/B"

    Oh, my lord, WTF are you talking about? They don't hold them, the SSA does. And if they did they wouldn't be 'held against our credit rating' what does that mean even?
     
  3. gabriel

    gabriel Governor

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    welcome to the world of "DAYS of our lives"! trust me, it gets a whole lot better!!
     
  4. Days

    Days Governor

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    sigh.

    If Congress wrote a bond and placed it in trust in lieu of funds it spent... is the bond on the open market? Nope it is in trust. Okay, if the bond is not moved to the open market, how is it redeemed? By the Treasury?

    answer that, and we will move along at a snails pace... I don't want you all befuddled by simple accounting.
     
  5. Days

    Days Governor

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    spoken by a true idiot who knows zippity doo dah about the bond market. You break the rules and i break 'em right back. Isn't that your game? then who can report it faster and change up the posts?

    last banning already wearing off?
     
  6. gabriel

    gabriel Governor

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    my description of political jack is none of your damn business , pal.
     
  7. Days

    Days Governor

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    you might want to brush up on connie's last warning.
     
  8. gabriel

    gabriel Governor

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    hey, pal, don't just sit there like a wuss! report me. go on, run to teacher with your little tales!! it suits ya!! hahahahahaahahaha
     
  9. Days

    Days Governor

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    just go sit in the corner for ten minutes.
     
  10. gabriel

    gabriel Governor

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    think that would give you enough time to compose yourself after the ass whuppin?? lol
     
  11. Days

    Days Governor

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    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.
     
  12. gabriel

    gabriel Governor

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    your only fault is coming here day in day out and trying to cover your ignorance with gobbledygook, pal!! but hey, im glad you do. I LOVE watchin you make these silly claims with no factas to back them up! slammin the door on your foot is great fun!! hahahahahaahahaha! and save your faux moderation Pal! OR ILL REPORT YOU!! LOL
     
  13. Days

    Days Governor

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    If you knew 1% what I know about the global bond market, the FED open market actions, and the American currency, you would be scaring me. As it is, I just humor you because I like you. Go ahead and report me, Gabe. But I don't think its a good idea (and neither do you).
     
  14. gabriel

    gabriel Governor

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    reporting you is a grand idea. I try to do it at least 10 times a day and so far you've made it easy! hahahaha
     
  15. Days

    Days Governor

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    good luck with that.

    In the mean time, its a good time to behave yourself.
     
  16. gabriel

    gabriel Governor

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    no need for luck, pal. you hand it to me on a silver platter!! hahahahahahhaha
     
  17. Days

    Days Governor

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    Yeah, while you are busy with that, this thread almost was shaping up... until you stepped in.
     
  18. gabriel

    gabriel Governor

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    then thank god I was happened by! I can only imagine what a bloated bag of methane might have "taken shape" if I hadn't!! lol
     
  19. Days

    Days Governor

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    yeah, we might have worked out an idea or two for the trust fund bonds.

    what was your solution, again? I missed that.
     
  20. gabriel

    gabriel Governor

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    of course you did! but then, that's to be expected.
     

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