What Really Sank Gun Control: Distrust of Government

[badtoworse]

66. Your point about the Fed raises a glaring conflict of interest issue

You are correct about the Fed printing money (thank you for pointing that out). That puts the government in a serious conflct of interest situation. As a debtor to Social Security, the government benefits from being able to repay its Social Security obligations with cheaper dollars. As a fiduciary, the government should be managing Social Security for the best interests of its beneficiaries which means (among other things) investing its assets to protect them from the inevitable consequences of the Fed's non-stop printing presses (i.e inflation). Who do you think the government is looking out for?

The question to ask is how would a competent, independent fund manager invest the money. Would it be exclusively Treasury obligations whose value will evaporate in an inflationary environment or would it be a balanced portfolio of equities, hard assets and various debt instruments (including some Treasuries). I'm not an expert, but I've done very well over the years with that approach. It's obvious to me that the government is not managing the money for my benefit. Once you understand that, why would you trust them and why would you want to keep sending them more FICA?

Sorry to be pointing this out, but with Social Security, the government has been screwing us for decades. It does not deserve our trust.