The UK State Pension – The UK Governments Dirty Little Secret

Stick around for the world’s biggest
Ponzi scheme and how the UK funds its state pension. I’m Joe Woodhouse, this is
Family Wealth 101. Fun fact I’ve just recorded this entire video then realized
my microphone wasn’t actually turned on so here we go take two. from our previous videos about the state pension we already know they’re increasing the retirement age to save money but what happens when that’s not enough between
now and 2042 there’s an extra 4.5 million people that are gonna
be drawing the state pension. Who’s gonna pay for that the government’s
dirty little secret is they don’t have any cash reserves to pay for it it all
comes out a current taxation collected today so the more older people there
are the more money they have to find but the problem is as a nation we’re aging
and we’re living longer your National Insurance contribution ain’t for you
it’s for Doris and Beryl to go to the post office tomorrow and draw out their
pension so what whippersnappers in 20, 30 40 years are gonna be funding your
retirement int this what Bernie Madoff got a hundred and fifty years for
from robbing Peter to pay Paul also known as a Ponzi scheme here’s
what Google says a Ponzi scheme is a type of fraud that gets new investors to
invest and from their cash profits older investors are paid so it’s just this vicious wheel
that only turns as long as new lambs are brought to slaughter and fresh
money’s paid into the pot but as always it will eventually come crashing down
like a house of cards once the well runs dry and the money runs out ain’t that
what’s happening I’m paying my national insurance today for my nan to pay for her groceries and her bingo tomorrow not that I begrudge my nanna that by any means and I want that out their record but it’s not put aside
for me it’s spent tomorrow look let us know your thoughts do you agree with me
or do you think I’m talking complete tripe I would love to know and also
don’t forget to follow us on the Facebook group Family Wealth 101 Facebook
group or if you’re on YouTube subscribe to make sure you kept up today with all
our latest videos and content i’m Joe Woodhouse this is Family Wealth 101 and thanks for your time. Ciao

Author Since: Mar 11, 2019

Related Post