But still where does the money actual cash come from? It’s not sitting in a bank somewhere it’s just on a ledger and it’s vapor. They have to back it with real dollars and those are from the general fund.
It’s just a ponzi scheme and we all know it. If it’s easy as just saying it’s a ledger entry then great...that’s all Bernie Madoff need to say and he’d be ok.
You poor sap. It comes from the same source as all the other cash denominated in USD. Helicopter Ben. Purchase of Treasuries is a Federal Reserve Bank Transaction. Cashing in of those Treasuries is also a Federal Reserve Bank Function.
I am not sure that I would call any USD “real” dollars these days, they are only backed by the full faith and credit of the US Government, not gold or anything real, and helicopter Ben is busy printing all the dollars we need for everything and the Fed is busy buying all the Treasuries that no one else wants to purchase.
That is why the value of the dollar has been going down, and a contributing factor to high prices in food and gasoline.
In reality, Social Security recipients have already had a benefits cut, as has anyone else. Alternatively you could view it as a huge tax increase courtesy of Federal Reserve Bank policy which impacts rich and poor.
A balanced approach no doubt with respect to currency, but not with respect to being able to purchase necessities like food. But not to worry, any premature deaths will benefit the survivors and politicians.
Way I look at it, we just had a bloodless coup. Mao, Hitler, Stalin, Lenin, they all killed millions either at the point of a gun or through starvation and created scapegoats to keep the populace divieded-so history reapeats itself.
The USA changes from being about Life Liberty and pursuit of happiness to the culture of death, bondage and misery, people fall into the trap of young vs old, sick vs healthy, rich vs poor, black vs white etc. I am afraid it is going to get real ugly. Myself, I don’t fall for that nonsense.
The real culprits are the Congress Critters and the rest of the government whose policies are so far from constitutional, and I am not going to fall for their propoganda blaming the American people for their statist march to doom. Nor do I fall for their propoganda that they want to help people. They help their partners in crime, and themselves.
Once they reform immigration, and have all those undocumented persons voting, lots of others will be thrown under the bus when their votes are no longer needed.