A Plan for the Federal Reserve & Social Security
Congress should pass another mandate for the Federal Reserve. The mandate should be to create a bond with the exclusive purpose of being sold to U.S. citizen for holding in the private portion of their Social Security accounts. The mandate should include a minimum interest rate with an inflation adjustment. The Federal Reserve can only use the collected bond money for domestic banking and investing purposes. None of this money can be used directly or indirectly for foreign investment or foreign activity.
It is obvious with the above, Social Security would change to allow for the creation of private accounts. The private account would still reside under the Social Security umbrella. 25 percent of new money contributed to an individual’s social security account would be assigned to the individual’s private social security account. The 25 percent within the individual’s private social security account must be exclusively invested in the Federal Reserve Bonds.
Re: A Plan for the Federal Reserve & Social Security
No! A much easier solution is for the fed to print a trillion dollars as needed to keep social security and medicare solvent. Silly? I don't think so because they printed more cash that the whole of the US debt to prop up the banking system without even a vote of approval from congress. OH we heard about the tarp money but we didn';t hear about the feds indeopendent actions to shore up the banks.
It will astound the general public to know just what was done by the fed during the financial crisis of 2008 and 2009. Expect Ron Paul to break the news.