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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Sunday 3 September 2017

http://www.silverdoctors.com/headlines/world-news/entire-state-pension-goes-from-80-funded-to-53-funded-in-blink-of-eye/

As various pension plans around the nation take small steps towards facing reality, the entire state of Minnesota just woke up to the reality that a funding level of  53% on it’s state teachers’ pension fund equals only one thing: PONZI SCHEME.
From Zero Hedge
Defined Benefit Pension Plans are, in many cases, a ponzi scheme.  Current assets are used to pay current claims in full despite insufficient funding to pay future liabilities… classic Ponzi.  But unlike wall street and corporate ponzi schemes no one goes to jail here because the establishment is complicit.  Everyone from government officials to union bosses are incentivized to maintain the status quo…public employees get to sleep better at night thinking they have a “retirement plan,” public legislators get to be re-elected by union membership while pretending their states are solvent and union bosses get to keep their jobs while hiding the truth from employees.

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