The Federal Reserve Is Systematically Destroying Social Security And The Retirement Plans Of Millions Of Americans

[CuteOldGuy]

If you are 55 or older, you're toast.

By keeping interest rates at exceptionally low levels, the Federal Reserve is absolutely crushing savers and is systematically destroying Social Security. Meanwhile, the inflation that QE3 will cause is going to be absolutely crippling for the millions upon millions of retired Americans that are on a fixed income. Sadly, most elderly Americans have no idea what the Federal Reserve is doing to their financial futures. Most Americans that are approaching retirement age have not adequately saved for retirement, and the Social Security system that they are depending on is going to completely and totally collapse in the coming years. Right now, approximately 56 million Americans are collecting Social Security benefits. By 2035, that number is projected to grow to a whopping 91 million. By law, the Social Security trust fund must be invested in U.S. government securities. But thanks to the low interest rate policies of the Federal Reserve, the average interest rate on those securities just keeps dropping and dropping. The trustees of the Social Security system had projected that the Social Security trust fund would be completely gone by 2033, but because of the Fed policy of keeping interest rates exceptionally low for the foreseeable future it is now being projected by some analysts that Social Security will be bankrupt by 2023. Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years. Yes, you read that correctly. The collapse of Social Security is inevitable, and the foolish policies of the Federal Reserve are going to make that collapse happen much more rapidly.

It's time to end the Fed. Read more here:

http://www.infowars.com/the-federal-...-of-americans/

[Submodo]

Good post.

Of all the "crises" facing our country now, I think this is the biggest and yet least talked about. Bet it won't get a mention in these upcoming theatrical debates. Hell I bet you won't hear the words Federal Reserve.

No country can stand, much less prosper when the "ones who play by the rules" get screwed.

[joe bloe]

The Democrats still brag that they created Social Security. They still worship at the altar of FDR, the father of the social welfare state. Future generations will curse the names of FDR and LBJ. We have detroyed our future. Our children and grandchildren will live in poverty because of the last two generations. We have met the enemy and it is us.

The good news is, the Mayans may have been right, in which case, all our worries will be over in three months (12/21/2012).
So, we've got that going for us.

[CJ7]

http://beyondhealthcarereform.com/20...h-care-reform/

[Submodo]

Oh yeah, the great FDR.

He set SS retirement age at 65, at at time when average life expectancy for men was what 60, women 64? What a guy.

[CJ7]

ooooops, wrong link

brb


there



http://www.politifact.com/rhode-isla...al-would-keep/

[I B Hankering]

Originally Posted by CuteOldGuy

The Federal Reserve Is Systematically Destroying Social Security And The Retirement Plans Of Tens of Millions Of Americans

Fixed that for ya!