https://youtubetranscript.com/?v=x8D5DD4ra2o
You’re talking about this intergenerational Ponzi scheme. That’s really what Social Security is. I mean, it wasn’t created that way in the 1930s when Roosevelt first concocted this Social Security, and it was totally unconstitutional and unfortunate that we haven’t. But the idea was that it was like insurance. The government was going to take the money and invest it. And then when everybody was older, you would get paid your benefits. And they even called the taxes premiums. But the whole thing was a con because it never was insurance, because the government never invested the money. They spent the money. And now they gave themselves an IOU. They created these things called trust funds. And so what would happen is the government would collect the money from Social Security. Then they would take the Social Security money and spend it on whatever, military or whatever they were doing. But then they would put an IOU in the government trust fund in the form of a bond. And then they would say, oh, we have an asset in this trust fund. We have a bond. That’s not an asset. It’s your own debt. It’s like if I write myself a check for a million dollars, I can’t take that uncashed check and claim I’ve got a million dollar asset. No, it’s also a million dollar liability.