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SS money collected from FICA are put into special Treasuries that cannot be sold on the open market.
Basically the SS money goes into the Federal coffers and SS holds an IOU.
SS money collected from FICA are put into special Treasuries that cannot be sold on the open market.
Basically the SS money goes into the Federal coffers and SS holds an IOU.
That article is not correct. Money morning is kind of a scam investment site, looking to get people to pay for investment advice that is often wrong. Here is the real info from a non-partisan research and policy institute
Quote:
How Are the Trust Funds Invested?
The Social Security trust funds are invested entirely in U.S. Treasury securities. Like the Treasury bills, notes, and bonds purchased by private investors around the world, the Treasury securities that the trust funds hold are backed by the full faith and credit of the U.S. government. The U.S. government has never defaulted on its obligations, and investors consider U.S. government securities one of the world’s safest investments.
By the end of 2021, the trust funds had accumulated $2.9 trillion worth of Treasury securities, earning an average interest rate of 1.4 percent during that year. The Social Security Administration provides monthly reports on the investment holdings of the trust funds, their maturities, and interest rates. The trustees project that the trust funds will earn $65.7 billion in interest income in 2023.
That article is not correct. Money morning is kind of a scam investment site, looking to get people to pay for investment advice that is often wrong. Here is the real info from a non-partisan research and policy institute
The article is correct. Your reading is correct too. The money is fiat. Debt paper stored in that cabinet in W. Va. Everything is safe and sound.
Not correct - you are pointing to articles that are over 15 years old that revolve about someone that seems not to understand what Bush was saying. Specifically he was pointing out that the IOUs symbolized the SS trust fund - not that they were the SS trust fund - that is not how the funds are tracked. The reality is that what is stored in WV was just some papers - not the funds. Try reading again - you will see that your take is incorrect - the articles even say as much.
Not correct - you are pointing to articles that are over 15 years old that revolve about someone that seems not to understand what Bush was saying. Specifically he was pointing out that the IOUs symbolized the SS trust fund - not that they were the SS trust fund - that is not how the funds are tracked. The reality is that what is stored in WV was just some papers - not the funds. Try reading again - you will see that your take is incorrect - the articles even say as much.
So where are the related USD's actually being held?
On a balance sheet / digital account - like most money nowadays.
I managed projects involving large amounts of money - all of it existed only in accounts as a digital record and was moved electronically.
Of course - all vapor/fiat. Fiat that can be created by the Fed or federal gov't.
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