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Take NYC or California: a mass exodus of people leaving, and increase in existing rates on the remainder of the people. So where does the money come from for pensions when it dries up? Per social security guidelines, they don't even have to pay out, it's merely a request that can be accepted or denied (virtually no one knows this small issue), and the pension can always use many tricks to not pay out: using outrageous demands to fire your ass (IBM), liquidating the pensions early for pennies on the dollar (Prudential), using placeholder IOUs that will never get paid (Illinois), hyper inflating the currency to oblivion (Weimar, Rome). Which one will it be?

Take NYC or California: a mass exodus of people leaving, and increase in existing rates on the remainder of the people. So where does the money come from for pensions when it dries up? Per social security guidelines, they don't even have to pay out, it's merely a request that can be accepted or denied (virtually no one knows this small issue), and the pension can always use many tricks to not pay out: using outrageous demands to fire your ass (IBM), liquidating the pensions early for pennies on the dollar (Prudential), using placeholder IOUs that will never get paid (Illinois), hyper inflating the currency to oblivion (Weimar, Rome). Which one will it be?

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Universal basic income (i.e. slave pay) and a central bank digital currency. It's not crypto. It's all about controlling you with a social credit score. There are cryptocurrencies that seek to be perfect alternatives to somewhat-physical currencies. Really a lot of money creation is just numbers inside a computer. Someone gets a loan for a million dollar house, and it doesn't require $1,000,000 in bank notes to be printed. This increase in the total amount of currency in existence. Bit Coin limits the amount available, but there are privacy issues. Who the coins belong to are part of the public record. Imagine being able to identify that the $100 bill you have was used for various drug deals. So perhaps it came to you in a legal manner. I often take home $100 bills from work after collecting smaller ones over time. The hundreds often come from Mexicans (probably illegals getting paid in cash). There is at least one new coin that seeks to solve the privacy problem with the other wonderful features of Bit Coin. We just need to get to where you can go buy your general life stuff with one of these types of currency. I believe there's a country in South or Central America that made Bit Coin their official currency.