I can't answer your question, but I attended a company retirement briefing once and that subject came up.
It was put to us like this: SS has this hugh pile of money just sitting around. There is so much of it that it can't find enough people to borrow it and pay interest on it.
The FED on the other hand is broke all the time and needs money. It can print it's own money if necessary to pay it back, but regardless it is a place for SS to make some money......makes sense to me.
Course when the FED and the govt get together and drive interest rates down to .25% so that their borrowing costs are minimal, everyone looses as is the case now.
I remember during Slick Willie's tenture, I saw news reports where I think the M3 paid out 30 billion in debt reduction. Saw that several times over as many months so it wasn't on his watch.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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