The Fed Is Systematically Destroying Social Security And The Retirement Plans Of Millions

The Social Security trust fund needs to earn interest to achieve levels that will preserve it till 2033; with interest rates close to zero, the trust fun is projected to be depleted ten years earlier - by 2023. By law, the money deposited in the SS trust fund must be invested in U.S. government securities, so it cannot just be thrown into the stock market. In order for SS Ponzi to work, the trust fund, invested in government securities, needs to produce healthy returns. It won't; it can't. Thanks QE-genie Bernanke. ~ Ilene [9] The Federal Reserve Is Systematically Destroying Social Security And The Retirement Plans Of Millions Of Americans [10] Courtesy of Michael Snyder of Economic Collapse [10] [11]Last week the mainstream media hailed QE3 [12] as the "quick fix" that the U.S. economy desperately needs, but the truth is that the policies that the Federal Reserve is pursuing are going to be absolutely devastating for our senior citizens. 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 [13]. 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. More