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No, it provides security to you. You may have a 401K and invest in stocks like I do, but if the market collapses tomorrow, social security is still there for you.
Security..... for all.
The only thing SS secures is poverty for those who are forced to rely on it.
The truely sad thing is that it doesnt have to be that way.
Originally Posted by jetgraphics
The chances of "everyone" having a nest egg reach $642,601.28 is impossible.
Quote:
Originally Posted by aus10
While the "chances" of everyone might not be possible.. the fact is that it would have been more likely than it is now. I just pulled out hubbies statement (I can't find mine).. assuming that he continues to make the same exact amount per year that he makes now, his contributions will total over 350,000.00 That's with no interest or any income that could have been generated from investing. And that is just a normal working man working till age 67 (born in 1960). I don't think it would be as far fetched as you would have us believe...
It is a common error to look at a single contract for usury (investment) without seeing the "big picture".
As the previous post showed, if ALL invested their money, the resulting sum would dwarf the sum total of money tokens. In other words, such long term usury is IMPOSSIBLE.
It is not news.
In 1836 John Whipple, an American lawyer, showed the impossibility of sustaining long term metallic usury: " If 5 English pennies... had been... at 5 per cent compound interest from the beginning of the Christian era until the present time, it would amount in gold of standard fineness to 32,366,648,157 spheres of gold each eight thousand miles in diameter, or as large as the earth."
[Translation - impossible to pay 32 billion earth sized spheres of gold ]
That's why I repeat USURY is mathematically impossible to repay in a finite money token system. It's based on an exponential equation. You need an infinite money token system - which we all know what happens to the value of that kind of money token.
Future value - Wikipedia, the free encyclopedia
To further illustrate unsustainability of usury:
Future Worth (FV), based on Present Value (PV)
FV = PV x (1+ interest)^time
Let N = total sum of money tokens
Let PV = 0.1N = 10% of N, the amount invested at 6% per annum, compounded daily
How long does it take for the investment to match whole sum of money tokens?
(N/0.1N) = (1 + .06/365)^ time units
Solving for time units
time units = log (N/0.1N) / log (1 + .06/365)
time units = log (1/0.1)/ log (1 + .06/365)
14008.54 days
38.37 years
After this point, the outstanding obligation will exceed the whole set of money tokens, making repayment IMPOSSIBLE.
In other words, if all the people invested 10% of their money, they’d go bust in 38.37 years, owing (or being owed) all the money that exists. Any further investment past that period cannot be repaid. That is the scam of usury.
In the short term, a portion of debtors will default simply because enough money never existed for them to repay. They will lose their pledged collateral, blaming themselves or their bad luck not realizing that usury was the reason.
That is also why “privatizing” Socialist InSecurity would not be viable. Any widespread “investment” at usury could not be sustained, since the money token supply is finite.
NO, YOU CANNOT [OPT OUT of SS]. Clearly cite from government sources on how to do this. You won't, since this has been posted many times before with no back-up.
The government will not divulge 'how' to stop participating in their program.
Feel free to write a polite letter to "your" congressman and ask for copies of any laws that :
1. compel all Americans to enroll into FICA,
2. punish any Americans who do not enroll into FICA,
3. punish any private sector businesses that hire unnumbered Americans,
4. impose a tax on wages when one is NOT a participant in FICA, nor an employee of the government, nor an officer of a corporation.
5. define a federal reserve note ("dollar bill") as a dollar.
They won't answer my letters anymore - maybe you'll get lucky.
But when I looked into the 1993 edition of the 50 titles of U.S. Code (1992 ed.) I could find no such laws.
In other words, the SocSec system is a "voluntary" tax and bribe system, wholly based on consent.
You can withdraw, but don't expect "the servants" to explain how to do it. You're their master, right?
However, if you write to the SocSec administrator, the form letter states that the sole reason to enroll is to participate in the entitlement program (public charity). Isn't that special?
(Can you imagine the pucker factor if millions of Americans wrote polite questionnaires like the above? )
anyone supposing that there is no risk associated with trusting the U. S. Federal Government to provide SS is just crazy.
Less risk then the markets. Not very likely that the government will fall. Even if it does, the money you would have in the markets would be worthless.
Gold isn't a good investment, not sure what goods you're going to invest in for retirement, but good luck.
Location: Just transplanted to FL from the N GA mountains
3,997 posts, read 4,140,525 times
Reputation: 2677
Quote:
Originally Posted by jetgraphics
It is a common error to look at a single contract for usury (investment) without seeing the "big picture".
As the previous post showed, if ALL invested their money, the resulting sum would dwarf the sum total of money tokens. In other words, such long term usury is IMPOSSIBLE.
It is not news.
In 1836 John Whipple, an American lawyer, showed the impossibility of sustaining long term metallic usury: " If 5 English pennies... had been... at 5 per cent compound interest from the beginning of the Christian era until the present time, it would amount in gold of standard fineness to 32,366,648,157 spheres of gold each eight thousand miles in diameter, or as large as the earth."
[Translation - impossible to pay 32 billion earth sized spheres of gold ]
That's why I repeat USURY is mathematically impossible to repay in a finite money token system. It's based on an exponential equation. You need an infinite money token system - which we all know what happens to the value of that kind of money token.
Future value - Wikipedia, the free encyclopedia
To further illustrate unsustainability of usury:
Future Worth (FV), based on Present Value (PV)
FV = PV x (1+ interest)^time
Let N = total sum of money tokens
Let PV = 0.1N = 10% of N, the amount invested at 6% per annum, compounded daily
How long does it take for the investment to match whole sum of money tokens?
(N/0.1N) = (1 + .06/365)^ time units
Solving for time units
time units = log (N/0.1N) / log (1 + .06/365)
time units = log (1/0.1)/ log (1 + .06/365)
14008.54 days
38.37 years
After this point, the outstanding obligation will exceed the whole set of money tokens, making repayment IMPOSSIBLE.
In other words, if all the people invested 10% of their money, they’d go bust in 38.37 years, owing (or being owed) all the money that exists. Any further investment past that period cannot be repaid. That is the scam of usury.
In the short term, a portion of debtors will default simply because enough money never existed for them to repay. They will lose their pledged collateral, blaming themselves or their bad luck not realizing that usury was the reason.
That is also why “privatizing” Socialist InSecurity would not be viable. Any widespread “investment” at usury could not be sustained, since the money token supply is finite.
Yes, it's a BIG CON. Always was. Always will be.
You are assuming here that every "saver" hit those large dollar amounts at the very same time. There would come a time when those large savers would start spending their cash on let's say food, housing, consumer goods. That cash being sent back into the economy correct. Let's take a look at the biggest group the boomers. There are some of us boomers let's say 1960 to 1964 birth year who still have years to go before retirement. Our "nest eggs" would be smaller, some folks would be now spending down, some folks will have passed on.. While the money supply might be finite, the movement of the money wouldn't be...
The only thing SS secures is poverty for those who are forced to rely on it.
The truely sad thing is that it doesnt have to be that way.
No one is forced to rely on it. Everyone I know could save more money.
The first question I always ask people when they say they are broke is "Do you have a TV with a cable or network provider of somekind?"
100% of the people I know have that. So no one is broken because they can't make money, they are broke because they choose to be.
At any rate, its not going away. So this foolish argument is like me saying I think that seat belt laws should be outlawed. Just because you believe it doesn't mean that other people do.
If the economy fails, and the government doesn't fall, then social security is there. If the government falls, all the money you would have saved without social security would be worthless. So what are you debating really?
Less risk then the markets. Not very likely that the government will fall. Even if it does, the money you would have in the markets would be worthless.
Gold isn't a good investment, not sure what goods you're going to invest in for retirement, but good luck.
How do you figure? That is a very general sweeping statement.
Nevermind, I thought you had an actual opinion. You can link 100s of articles all day long on either side of that position, and the same can be said for every stock you could buy too. Gold is just as good of a long term investment as any other options as long as you know what you are doing and pay attention to all of the different things that impact its value.
Oh, and those two articles are over 1 and 2 years old.
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