The Big Scam — What Elon and Trump are After at Social Security
I know most of us are appalled at the shit storm going on with Musk and Social Security. But why would Elon and Donald be chasing after an institution that, for the most part, protects their MAGA supports from retirement destitution?
Forget the “corruption” charges, corruption would normally imply some nefarious collusion on the part of Social Security Administration to steal your funds. Of course, Musk has found nothing he can cite as either corrupt or even mis-management. No, this is more about two things: cultivating fear and, even more so, generating loss of faith in the system.
Now why would someone do that, knowing that so many rely on SS for their retirement? It’s simple — and has nothing to do with dissolving the system. It is all about this:
“Social Security money is invested in U.S. Treasury securities, such as bonds and certificates of indebtedness. These securities are backed by the U.S. government, which is considered one of the safest investments in the world.”
What the US investment banking community want is all those trillions of dollars out of Treasury Notes — and into the stock market — where they can make trillions managing (and of course taking a commission on) that money.
The Plan is simple: get the public to lose faith in SS and then convince them that the safest place for this money is in the stock market — managed by “professionals”. Think Ultra-Huge 401ks.
You may not be a student of history, but know this, the Republican party has been against Social Security since the 1930s — and for this reason alone. It has galled them, since its inception, that they can’t have a piece of this huge cache of cash. And in case you don’t know it, the establishment of 401k savings plans was an attempt to set the stage for what you see now.
401K vs. SS — What’s the difference?
401Ks
Are 401Ks great? Well, it depends on two things:
One; did you set aside enough money, or did you do anything at all to sustain you in retirement? After all, it’s voluntary.
Two: where are your investments from a stock market point of view when you retire? Accessing your 401k in 2008 might not have been a good idea.
Social Security
SS is a “defined benefit plan”, not a savings plan. What that means is that your money is pooled with everyone else’s, and actuaries are fiduciarily (legally bound) charged to make sure there is enough money in the pool to ensure that you are paid out at a defined rate when you retire.
As stated above, your money is invested in US Treasury securities that pay out at a specific rate and are not subject to the up and downs of the market. What has held back the level of payout, BTW, is that Republicans have repeatedly blocked the threshold level of earnings increases that were built into the plan to deal with inflation. There is no reason to stop contributions at a salary level — in fact SS participants should welcome it! But by limiting this contribution level, Republicans have tried to use this to get you to lose faith in the system. It’s all part of the scam.
The Scam Revealed
And speaking of scam — let’s get back to why Republicans want to “dissolve” SS and replace it (believe me they want to replace it, not stop all that cash from flowing into their pockets).
Benefits to the investment community of switching the investment money from SS to a 401k- type plan — for the investment community (not you), are:
One — the already mentioned commissions on the transactions.
Two- the account management fees they would earn.
Three — the amount of NEW capital that would be available for investment world-wide and impossible to control (think back to what happened in 2007–2008).
These are the reason for the scam . . .
This is why all the big Investment firms have lined up with Trump. This is why this scam you are seeing is being played out.
So aside from taking the control of your retirement out of the hands of a federal agency whose only reason for being is your retirement welfare — and putting it in the hands of people who could give one poop about you as long as the commissions keep coming in — is one word, GREED.
And something NO ONE is talking about, and they should, is that withdrawing those investments in Treasury Notes would likely crash the Federal Government’s investment program, and likely crash our financial system.
But those greedy and stupid bankers don’t care. It’s all part of the plan to destroy government control and government along with it. These mopes somehow think they can weather it all — or move to Bahrain while the USA burns in flames.
Stop thinking any of these people have your interest at heart, they are only interested in grabbing your money and any way they can separate you from it is fine with them.
Don’t fall for the scam, your retirement money is safe in Social Security and at huge risk otherwise. Tell your Congressional Representative “NO”. Tell Trump “NO”.
If you don’t, you’ll regret it.
