Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
RE: Here's an alternative to SSN
Why? We have all kinds of government corporations that control monopolies, for good reason. Prior to the 20th Century, banks issued their own money, and it was a mess. Think of yourself in Colorado trying to buy stuff with bank notes issued from a bank in Rhode Island. The Federal Reserve Bank was created to be the sole printer of money so we could have a generally acceptable portable instrument of capital. Fannie Mae and The Farm Bank are in business to insure that credit in these two critical markets is always available - before we had them, in times when private capital was not available to lend such as during the great depression, millions who worked in those industries were thrown off their farms or out of work simply because there was no one to float homebuyers and farmers a loan even if they were credit worthy. SSI works because all working people are compelled by law to pay into one fund. I don't see where competition would help- what would they be competing for? SSI simply distributes money and banks the surpluses. They are allowed to invest in only one thing - US bonds. It keeps everything nice and safe.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address