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#1
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Trillion Dollar Coin
No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry |
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#2
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Trillion Dollar Coin
"Jerry Dennis" wrote in message
... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry ---------- Would it actually be money if it isn't intended for circulation? I'm thinking of those 1933 Saints here. If so, what would that really accomplish? I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? Or would it require a trillion worth of platinum? Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt. |
#3
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Trillion Dollar Coin
On Jan 5, 10:11*pm, "bremick" wrote:
"Jerry Dennis" *wrote in message ... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. *Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. *Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry ---------- Would it actually be money if it isn't intended for circulation? *I'm thinking of those 1933 Saints here. *If so, what would that really accomplish? *I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. *Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? *Or would it require a trillion worth of platinum? * Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt. I think the idea (which is just an accounting trick) would be to take a simple one ounce platinum blank and stamp it "one trillion dollars". There is no need to attempt to make the intrinsic value of such a coin anywhere close to its "face". The Traesury Secretary would have the very few of these coins which were required to be made up sent to some vault in New York City or Washington D.C. Congressional approval probably doesn't mean squat. But there is simply no point to minting such a coin; the Federal Reserve Bank effectively does this every day with their computers and gee, they don't do a sum of one trillion dollars more than two or three times per year. In Weimar Germany in 1922-23, they didn't use any more paper to print a million mark note than they did to print the Imperial pre-war one hundred mark note (indeed they used a smaller price of paper). Wrap your head around this thought: "Money" means nothing anymore. Work, careers, business skills, effort means nothing anymore. The money cheaters can create more "money" in a computer keystroke than you or I could "earn" by ten thousand lifetimes of "work". oly |
#4
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Trillion Dollar Coin
On Jan 6, 12:03*am, oly wrote:
On Jan 5, 10:11*pm, "bremick" wrote: "Jerry Dennis" *wrote in message .... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. *Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. *Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry ---------- Would it actually be money if it isn't intended for circulation? *I'm thinking of those 1933 Saints here. *If so, what would that really accomplish? *I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. *Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? *Or would it require a trillion worth of platinum? * Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt. I think the idea (which is just an accounting trick) would be to take a simple one ounce platinum blank and stamp it "one trillion dollars". There is no need to attempt to make the intrinsic value of such a coin anywhere close to its "face". *The Traesury Secretary would have the very few of these coins which were required to be made up sent to some vault in New York City or Washington D.C. Congressional approval probably doesn't mean squat. But there is simply no point to minting such a coin; the Federal Reserve Bank effectively does this every day with their computers and gee, they don't do a sum of one trillion dollars more than two or three times per year. In Weimar Germany in 1922-23, they didn't use any more paper to print a million mark note than they did to print the Imperial pre-war one, hundred mark note (indeed they used a smaller price of paper). Wrap your head around this thought: "Money" means nothing anymore. Work, careers, business skills, effort means nothing anymore. *The money cheaters can create more "money" in a computer keystroke than you or I could "earn" by ten thousand lifetimes of "work". oly- Hide quoted text - - Show quoted text - The link is Russia Today (sometime dubious, but their financial TV stories have been pretty great in recent times due to one lady reporter), but you can also find this story elsewhe http://rt.com/usa/news/trillion-dollar-debt-coin-353/ Again, there's nothing that means a one trillion dollar coins need have more than a nominal amount of platinum!!! oly |
#5
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Trillion Dollar Coin
oly wrote:
On Jan 5, 10:11 pm, "bremick" wrote: "Jerry Dennis" wrote in message ... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry ---------- Would it actually be money if it isn't intended for circulation? I'm thinking of those 1933 Saints here. If so, what would that really accomplish? I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? Or would it require a trillion worth of platinum? Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt. I think the idea (which is just an accounting trick) would be to take a simple one ounce platinum blank and stamp it "one trillion dollars". There is no need to attempt to make the intrinsic value of such a coin anywhere close to its "face". The Traesury Secretary would have the very few of these coins which were required to be made up sent to some vault in New York City or Washington D.C. Congressional approval probably doesn't mean squat. But there is simply no point to minting such a coin; the Federal Reserve Bank effectively does this every day with their computers and gee, they don't do a sum of one trillion dollars more than two or three times per year. In Weimar Germany in 1922-23, they didn't use any more paper to print a million mark note than they did to print the Imperial pre-war one hundred mark note (indeed they used a smaller price of paper). Wrap your head around this thought: "Money" means nothing anymore. Work, careers, business skills, effort means nothing anymore. The money cheaters can create more "money" in a computer keystroke than you or I could "earn" by ten thousand lifetimes of "work". oly I agree! So what are we going to do about the millionaires and billionaires and their tools that are trashing our economy and threatening our freedom? JAM |
#6
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Trillion Dollar Coin
"Frank Galikanokus" wrote in message ...
oly wrote: On Jan 5, 10:11 pm, "bremick" wrote: "Jerry Dennis" wrote in message ... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry ---------- Would it actually be money if it isn't intended for circulation? I'm thinking of those 1933 Saints here. If so, what would that really accomplish? I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? Or would it require a trillion worth of platinum? Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt. I think the idea (which is just an accounting trick) would be to take a simple one ounce platinum blank and stamp it "one trillion dollars". There is no need to attempt to make the intrinsic value of such a coin anywhere close to its "face". The Traesury Secretary would have the very few of these coins which were required to be made up sent to some vault in New York City or Washington D.C. Congressional approval probably doesn't mean squat. But there is simply no point to minting such a coin; the Federal Reserve Bank effectively does this every day with their computers and gee, they don't do a sum of one trillion dollars more than two or three times per year. In Weimar Germany in 1922-23, they didn't use any more paper to print a million mark note than they did to print the Imperial pre-war one hundred mark note (indeed they used a smaller price of paper). Wrap your head around this thought: "Money" means nothing anymore. Work, careers, business skills, effort means nothing anymore. The money cheaters can create more "money" in a computer keystroke than you or I could "earn" by ten thousand lifetimes of "work". oly I agree! So what are we going to do about the millionaires and billionaires and their tools that are trashing our economy and threatening our freedom? JAM -------- I say let's vote them out of Congress!! |
#7
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Trillion Dollar Coin
On Jan 8, 8:17*pm, "bremick" wrote:
"Frank Galikanokus" *wrote in .... oly wrote: On Jan 5, 10:11 pm, "bremick" wrote: "Jerry Dennis" *wrote in message .... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. *Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. *Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change.. Jerry ---------- Would it actually be money if it isn't intended for circulation? *I'm thinking of those 1933 Saints here. *If so, what would that really accomplish? *I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. *Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? *Or would it require a trillion worth of platinum? * Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt. I think the idea (which is just an accounting trick) would be to take a simple one ounce platinum blank and stamp it "one trillion dollars". There is no need to attempt to make the intrinsic value of such a coin anywhere close to its "face". *The Traesury Secretary would have the very few of these coins which were required to be made up sent to some vault in New York City or Washington D.C. Congressional approval probably doesn't mean squat. But there is simply no point to minting such a coin; the Federal Reserve Bank effectively does this every day with their computers and gee, they don't do a sum of one trillion dollars more than two or three times per year. In Weimar Germany in 1922-23, they didn't use any more paper to print a million mark note than they did to print the Imperial pre-war one hundred mark note (indeed they used a smaller price of paper). Wrap your head around this thought: "Money" means nothing anymore. Work, careers, business skills, effort means nothing anymore. *The money cheaters can create more "money" in a computer keystroke than you or I could "earn" by ten thousand lifetimes of "work". oly I agree! So what are we going to do about the millionaires and billionaires and their tools that are trashing our economy and threatening our freedom? JAM -------- I say let's vote them out of Congress!!- Hide quoted text - - Show quoted text - I think that the old comic strip "Pogo" (Walt Kelly) quote went something like "We have met the enemy and it is us" and that it applies here. Lots and lots of people get more from "the System" than they ever put in. My poor old paternal grandparents clearly did towards the end of their lives. My parents did too (but they were very successful and they did put in quite a lot first, up-front). I am now angling to game "the System" for myself. Being personally honest about what you tell yourself about yourself is still rather important. Sauve qui peut, baayy-beeee. oly oly |
#8
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Trillion Dollar Coin
"oly" wrote in message
... On Jan 8, 8:17 pm, "bremick" wrote: "Frank Galikanokus" wrote in ... oly wrote: On Jan 5, 10:11 pm, "bremick" wrote: "Jerry Dennis" wrote in message ... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry ---------- Would it actually be money if it isn't intended for circulation? I'm thinking of those 1933 Saints here. If so, what would that really accomplish? I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? Or would it require a trillion worth of platinum? Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt. I think the idea (which is just an accounting trick) would be to take a simple one ounce platinum blank and stamp it "one trillion dollars". There is no need to attempt to make the intrinsic value of such a coin anywhere close to its "face". The Traesury Secretary would have the very few of these coins which were required to be made up sent to some vault in New York City or Washington D.C. Congressional approval probably doesn't mean squat. But there is simply no point to minting such a coin; the Federal Reserve Bank effectively does this every day with their computers and gee, they don't do a sum of one trillion dollars more than two or three times per year. In Weimar Germany in 1922-23, they didn't use any more paper to print a million mark note than they did to print the Imperial pre-war one hundred mark note (indeed they used a smaller price of paper). Wrap your head around this thought: "Money" means nothing anymore. Work, careers, business skills, effort means nothing anymore. The money cheaters can create more "money" in a computer keystroke than you or I could "earn" by ten thousand lifetimes of "work". oly I agree! So what are we going to do about the millionaires and billionaires and their tools that are trashing our economy and threatening our freedom? JAM -------- I say let's vote them out of Congress!!- Hide quoted text - - Show quoted text - I think that the old comic strip "Pogo" (Walt Kelly) quote went something like "We have met the enemy and it is us" and that it applies here. Lots and lots of people get more from "the System" than they ever put in. My poor old paternal grandparents clearly did towards the end of their lives. My parents did too (but they were very successful and they did put in quite a lot first, up-front). I am now angling to game "the System" for myself. Being personally honest about what you tell yourself about yourself is still rather important. Sauve qui peut, baayy-beeee. oly ------- For every person who is fortunate and healthy enough to "game the system", there are two or three who pass away well before recouping what they put in. On the other hand, there are some who work for a only couple years but incur a disability and then collect for the rest of their lives. I'd prefer to stay healthy and take my chances. Good luck to you as you enter a new phase of you life. Bruce |
#9
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Trillion Dollar Coin
On Jan 8, 9:56*pm, "bremick" wrote:
"oly" *wrote in message ... On Jan 8, 8:17 pm, "bremick" wrote: "Frank Galikanokus" *wrote in .... oly wrote: On Jan 5, 10:11 pm, "bremick" wrote: "Jerry Dennis" *wrote in message ... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. *Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. *Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry ---------- Would it actually be money if it isn't intended for circulation? *I'm thinking of those 1933 Saints here. *If so, what would that really accomplish? *I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. *Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? *Or would it require a trillion worth of platinum? * Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt.. I think the idea (which is just an accounting trick) would be to take a simple one ounce platinum blank and stamp it "one trillion dollars". There is no need to attempt to make the intrinsic value of such a coin anywhere close to its "face". *The Traesury Secretary would have the very few of these coins which were required to be made up sent to some vault in New York City or Washington D.C. Congressional approval probably doesn't mean squat. But there is simply no point to minting such a coin; the Federal Reserve Bank effectively does this every day with their computers and gee, they don't do a sum of one trillion dollars more than two or three times per year. In Weimar Germany in 1922-23, they didn't use any more paper to print a million mark note than they did to print the Imperial pre-war one hundred mark note (indeed they used a smaller price of paper). Wrap your head around this thought: "Money" means nothing anymore. Work, careers, business skills, effort means nothing anymore. *The money cheaters can create more "money" in a computer keystroke than you or I could "earn" by ten thousand lifetimes of "work". oly I agree! So what are we going to do about the millionaires and billionaires and their tools that are trashing our economy and threatening our freedom? JAM -------- I say let's vote them out of Congress!!- Hide quoted text - - Show quoted text - I think that the old comic strip "Pogo" (Walt Kelly) quote went something like "We have met the enemy and it is us" and that it applies here. Lots and lots of people get more from "the System" than they ever put in. *My poor old paternal grandparents clearly did towards the end of their lives. *My parents did too (but they were very successful and they did put in quite a lot first, up-front). *I am now angling to game "the System" for myself. *Being personally honest about what you tell yourself about yourself is still rather important. *Sauve qui peut, baayy-beeee. oly ------- For every person who is fortunate and healthy enough to "game the system", there are two or three who pass away well before recouping what they put in. On the other hand, there are some who work for a only couple years but incur a disability and then collect for the rest of their lives. *I'd prefer to stay healthy and take my chances. *Good luck to you as you enter a new phase of you life. Bruce- Hide quoted text - - Show quoted text - My other set of grandparents did not get much back out of "the System", one died at 58 and the other did surivive to 72, but in poor health for many years. He had the rather odd railroad disability and then pension which were essentially governmental in nature. My late father-in-law had the same railroad thing(s) and died at 63, but his widow has raked it in for very many years. FWIW, Social Security Disability has ballooned since the start of the present recession (it's one way out); and very many "student" loans are made to older people who fell off unemployment and then get in some "classes" and borrow what they can to get by (and it seems that student loans allow one to get by very well, nowadays). One of my female cousins is in the "for-profit" college business and she and her partners could probably sell-out and walk away with a whole lot of money, but they really aren't very smart people and will they probably still be there the day that present boondoggle educational scam collapses. My point is that Congress very much reflects the desires of the American people. Everybody hates Congress but they typically love their own local Congressman. Bring home the bacon, baayy-beeee!!! Money for nothing and your chicks for free (actually that phrase was coined by a bunch of Englishmen!). And we could probably pay for all this, if we hadn't also gone into Iraq and Afghanistan. But for that spending, the present recession probably could have started as early as 2002 or thereabouts (well, America also had to have all the real estate swindles and real estate equity "cash outs" take place and then collapse before we could get to the present dilemna). Come on trillion dollar platinum coin!!! Mint more than one, Timmy!!! Fiat platinum!!! oly |
#10
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Trillion Dollar Coin
On Jan 8, 9:56*pm, "bremick" wrote:
"oly" *wrote in message ... On Jan 8, 8:17 pm, "bremick" wrote: "Frank Galikanokus" *wrote in .... oly wrote: On Jan 5, 10:11 pm, "bremick" wrote: "Jerry Dennis" *wrote in message ... No link to this rumor, but it was on TV on The Five last night, and Huffington Post ran a blurb on its web site. *Seems the feds are seriously considering issuing a platinum coin worth a trillion dollars to avoid the debt ceiling. I did a little math on the deal using the current $100 Platinum Eagle as a base. *Using the ratios for 1 oz. PAEs, it would take 10 billion troy oz., or just over 342,857.142 86 tons (US), for a single trillion dollar eagle. Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the 2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change. Jerry ---------- Would it actually be money if it isn't intended for circulation? *I'm thinking of those 1933 Saints here. *If so, what would that really accomplish? *I'm sure there probably were a bunch of legal experts involved if the govt ever seriously considered it. *Could it be legally "worth" a trillion if it simply said so on it with a Congressional blessing? *Or would it require a trillion worth of platinum? * Sadly, this government seems to be reduced to weirdness rather than common sense to reduce our debt.. I think the idea (which is just an accounting trick) would be to take a simple one ounce platinum blank and stamp it "one trillion dollars". There is no need to attempt to make the intrinsic value of such a coin anywhere close to its "face". *The Traesury Secretary would have the very few of these coins which were required to be made up sent to some vault in New York City or Washington D.C. Congressional approval probably doesn't mean squat. But there is simply no point to minting such a coin; the Federal Reserve Bank effectively does this every day with their computers and gee, they don't do a sum of one trillion dollars more than two or three times per year. In Weimar Germany in 1922-23, they didn't use any more paper to print a million mark note than they did to print the Imperial pre-war one hundred mark note (indeed they used a smaller price of paper). Wrap your head around this thought: "Money" means nothing anymore. Work, careers, business skills, effort means nothing anymore. *The money cheaters can create more "money" in a computer keystroke than you or I could "earn" by ten thousand lifetimes of "work". oly I agree! So what are we going to do about the millionaires and billionaires and their tools that are trashing our economy and threatening our freedom? JAM -------- I say let's vote them out of Congress!!- Hide quoted text - - Show quoted text - I think that the old comic strip "Pogo" (Walt Kelly) quote went something like "We have met the enemy and it is us" and that it applies here. Lots and lots of people get more from "the System" than they ever put in. *My poor old paternal grandparents clearly did towards the end of their lives. *My parents did too (but they were very successful and they did put in quite a lot first, up-front). *I am now angling to game "the System" for myself. *Being personally honest about what you tell yourself about yourself is still rather important. *Sauve qui peut, baayy-beeee. oly ------- For every person who is fortunate and healthy enough to "game the system", there are two or three who pass away well before recouping what they put in. On the other hand, there are some who work for a only couple years but incur a disability and then collect for the rest of their lives. *I'd prefer to stay healthy and take my chances. *Good luck to you as you enter a new phase of you life. Bruce- Hide quoted text - - Show quoted text - And if I'm being ****y, I'll take issue with your demographics and return of retirement contributions. Most people who have been presently been retired for two decades got their own contributions back within three years or less. Presently, more recent retirees are looking at five to seven years before they start playing on the house's money. There are NOT two or three people dying early for every one that actually reaches retirement age. NOT the case at all. If that was true, the crap debt would not be piling up the way it is. Maybe Timmy should mint about a dozen of them trillion dollar platinums. oly |
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