pull down to refresh

Hong Kongers Denied Pension because of Their Political Leanings
1192 sats \ 3 comments \ @spiderman 11h bitcoin
So, Bitcoin is not only a number goes up game. It is much more, and here is another evidence.
Every state mandated pension fund is the definition of a ponzi scheme, and they will use any pretext to suck a bit more while denying the recipients as far and as much as possible. So if you thought your pension is safe with the government held in some vault...
Another BitcoinFixesThis moment.
write
preview
related posts
5 sats \ 0 replies \ @south_korea_ln 7h
definition of a ponzi scheme
I understand your sentiment, but from a technical point of view, Cato Institute says Hongkong implements an MFP pension system, not a PAYG system. I.e., you contribute to your own pension; your contributions are not being used for the pension of current retirees.
IMO, the former is much more sustainable than the latter. Ofc, you are still dependent on market conditions and the funds where the money is being invested to. And ofc, it also depends on the government's goodwill, as illustrated here.
reply
0 sats \ 0 replies \ @standardcrypto 3h
reportedly trump is looking into this strategy to mitigate the budget crisis. Unfortunately it was determined that even if all registered democrat federal workers got their pensions revoked, this would barely make a dent in the total outflow.
reply
0 sats \ 0 replies \ @standardcrypto 3h
deleted by author