>>>That's not quite how it works.'
>>>Those who are contributing now are supplying the cash to pay those who are on social security now.
>>>Your money is not being saved for your retirement. The younger generation will pay for your
>>>retirement. If your group out numbers the younger people, your social security cheque will likely be
>>>smaller or non-existent. Don't you love socialism?
>>
>>Actually, during socialism proper, the retirement fund was full, thank you, and the retirements were regular.
>>
>>>And remember Clinton? Didn't he balance the books or something by using the social security money?
>>
>>Remember that child of transition from socialism into capitalism, Milošević? He and his thugs have plundered the retirement fund several times over; health too.
>>
>>Besides, Clinton didn't take the money out of the fund - he just replaced it with bonds. If the Chinese creditors can take these bonds, so can the US retirees ;).
>
>Remember the uproar over privatizing social security when Bush suggested it? He was not the first:
>
>http://www.socsec.org/publications.asp?pubid=337

BTW, how did it happen that Peruvian social security got pwned by Citibank? I still can't get this new colonialism globalization. Does that mean that Nebraska Retirement Fund may be in some Ukrainian bank, or that Japanese Post Office Retirement Fund may all of a sudden find itself invested in an Argentinian bank?