Originally posted by redrockcoulee Not really, when we build a new building real money goes from the government to the contractor and then to the sub trades. Or for repairs of buildings or purchase of new equipment. In pensions real money is paid every month to the retired workers. My contributions are not real in that they are not sitting in a bank account waiting for me but what I pay are real, I see the deductions off my pay every two weeks and in four or five years I will be getting a deposit into my bank account every month.
The account is not real however the monies going in and out of the government funds each month is.
Subtle difference as I understand this the money you pay is "real" but it is NOT a real asset therefore it went 'unreal" per the Fed...
Quote: were not separate funds with assets
When they pay out it is really a "new money creation"... otherwise there would be "tangible assets" in the account.. Courts said they don't exist...therefore your "real money" goes "poof"
when they pay "new money" goes poof.....
Legal proof that money doesn't exist till they create it.. and money gets destroyed when they take it....
IF you put $10,000 in the bank and draw $5000 there is $5000 in "assets" left.. Your court ruled that it doesn't "exist" and just "bookkeeping-ly" shifted a few numbers on paper.. which they apparently can do ..
Funny isn't it..
Quote: The Supreme Court of Canada has ruled federal employees aren’t entitled to any of the $28-billion surplus the government took from their pension funds a decade ago to help pay down the deficit because the accounts were nothing more than “ledger” records with no real assets.
Read more:
Public service unions not entitled to pension surplus: Supreme Court
In the real money world of states/corps/and us that would be theft............. but since it never "existed".. oh well...
Steal your money and then guilt you on top of it..BRILLIANT....
Quote: If the unions had been successful, the government could have found itself with an additional $28-billion liability added to the national debt.
Quote: Benson said public servants were “misled” for years by government documents and statements by ministers and senior bureaucrats that the pension fund had “assets” or was “fully-funded.” The court acknowledged the “words” government officials used to describe the plan didn’t “accurately” reflect how the plan operated.
“So while the court says there are no assets in the account, the government has been misleading its employees for decades and that was at the core of the problem,” said Benson
.