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Speaker 1: Welcome to another edition of Checks on the Right podcast.

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We are here with our BFF, our financial BFF and

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BFF Zach from Bulwark Capital. I've been working since i

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was fourteen years old. Do you think I'm going to

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get Social Security? Because this is what irritate you.

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Speaker 2: Do you think I'm gonna get?

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Speaker 3: Yeah? I think if you're over fifty years old, do

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you have nothing to worry about?

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Speaker 2: Really? And it's the people under fifty that do yeah.

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Speaker 3: And here's why.

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Speaker 4: So this is the cruel reality of the way we're

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of the world we're in. And this is one of

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the things that is endlessly frustrating to me. When we're

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talking about debt, when we're talking about deficits, when we're

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talking about financing healthcare of illegal immigrants, nobody ever wants

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to talk about fiscal constraints, right, So, now there is

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a constraint there if you look at Social Security, If

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we looked at Social Security the way that we look

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at a corporation, we would say.

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Speaker 3: It's defunct and bankrupt right now totally.

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Speaker 4: And the reason we say that is it's all blaations

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far exceed its ability to pay right, So it's technically

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in default down but when we did the lock box,

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when we undid the quote unquote lock box, when social

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Security was started, these Social Security owned the Social Security

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payments and that was effectively what they referred to as

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the lock box at that time Okay, well early sixties,

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when they quote unquote rated the lock box, social Security

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payments became a general obligation of the federal government, just

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like government bonds are, okay, which means that they are

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not They are no longer secluded to just Social Security.

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Speaker 3: So in my.

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Speaker 4: Mind, when people say social Security is bankrupt, they're right,

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but they're not in the sense that it's a Social

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Security is no more bankrupt than the federal government's right.

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And bankrupt by definition is the inability to pay your debts. Well,

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because all of our debts are denominated in US dollars,

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we are not bankrupt, okay, So meaning not paying Social

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Security is a political decision, not a financial at least

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right now in the current construct.

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Speaker 3: Okay.

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Speaker 4: Now, we also know that baby boomers are the largest

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voting block in the country. So bottom line is this,

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anybody that goes out, regardless of the veracity, efficacy, or

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whatever of their plan to save Social Security, if the

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saving of Social Security is a reduction or an elimination

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of a payment to anybody that is a baby boomer.

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Whoever makes that proposition will not get elected by Yeah.

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Speaker 3: It is truly the third rail in American politics.

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Speaker 4: Yeah, So what will happen is eventually, if everybody's like

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in nineteen or by twenty thirty two, they'll just print

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the money.

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Speaker 3: Guys, it's general omination.

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Speaker 4: They'll print the money. And what they will do when

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they finally curtail it is they will grandfather in people.

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Usually in the past fifty years old has been kind

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of the mark to make the most sense to me.

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Speaker 3: And what they will say is you under the age.

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Speaker 4: And it'll probably be done along the lines of political calculus,

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meaning where can we make that demarcation point where the

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people below it don't really care because it's so far away.

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Oh my, And that's that's probably how the decision will

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get made. But my whole thing is, I'm forty three.

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I will doubt that I.

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Speaker 3: Will end up getting a single payment of Social Security.

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Speaker 2: But you're paying into it. That's what's so absurd.

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Speaker 4: Oh, I'm paying in tons and and But my guess is,

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and I would bet my house that you will get

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every bit.

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Speaker 3: Of Social Security that you're currently looking.

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Speaker 4: At right now.

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Speaker 2: That is such an I love here.

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Speaker 1: I mean, I love hearing your perspective on that, because

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I always I've been thinking for the past, you know,

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however many years, There's just no way I'm going to

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get it.

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Speaker 2: There's no way because these people suck.

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Speaker 1: They're going to screw it up, you know they and

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they will screw it up obviously because you're not going

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to get it, and you should get it. It's your

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daying money, your money, right right right, We would have

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been better off if somebody would have taken that much.

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We could have taken it, or we could have invested it,

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kind of like what Trump, I think, at the beginning

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of his trum memory said, let's give these babies like

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investment accounts and member, well the Trump baby.

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Speaker 4: And here, just to get everybody a little bit more frustrated,

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here's the irony. Right, Remember I said that that social

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Security is now a general obligation debt of the of

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the US government, right, which is the exact same type

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of debt. It's the way that we characterize government bonds. Okay,

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So here's the frustrating part. If everybody, if you work

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a full career, so you start working at age eighteen,

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you work to the age of sixty five.

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Speaker 3: And if they would have just taken.

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Speaker 4: Your Social Security payments and invested them in US government bonds, right,

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Remember it's the exact same type of debt. Okay, had

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we just taken that amount of money invested in the

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US government bonds, the return of the US government bonds.

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Speaker 3: All of us are ours.

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Speaker 4: If you worked from eighteen to sixty five, your Social

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Security benefit would be double what it currently was.

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Speaker 2: Oh my gosh.

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Speaker 4: So what that means is our government has been giving

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twice as good outcome do external debt holders as they

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have to their own citizens and internal debt.

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Speaker 2: I'm not shocked by that. I'm not. It's just not

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shocking at all. It's not.

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Speaker 1: I mean, who's shocked by them doing that when they

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want to give freebies to everybody, they protect illegals and

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criminals over us crying out.

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Speaker 4: Yeah, And meanwhile, the spending orgy on Washington d C continues.

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Politicians on both sides of the side of the aisles

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get rich, and the average person sitting at home doesn't

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realize that their government just gave them half the return

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on their investment. Then they give to external that is

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just investors, and it shouldn't be that way.

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Speaker 1: It's completely wrong. And people have one retirement and that's

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why they need to talk to you, Zach. How can

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people find you? Tell them all about how awesome you

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are because you're awesome.

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Speaker 4: Well, I can tell you how easy we are to find.

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So go to Bulwarkapitalmanagement dot com or Know Your riskpodcast

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dot com.

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Speaker 3: You can sign up there subscribe to our podcast. We

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do it once a day.

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Speaker 4: It's about twenty five to thirty five minutes, go over

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everything that matters in the world of finance or any

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politics related to finance or investing. And then just today

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did about an hour long interview with a buddy of

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mine that just.

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Speaker 3: Put out a book about Warren Buffett.

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Speaker 4: Put out interviews with specialists and folks in the industry

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about once a week, and yeah, between those you can

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find out everything to know about Bulwark Capital Management and

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hopefully you'll become a client and you know, we can

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all don't make a lot of money.

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Speaker 1: Together, hopefully.

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Speaker 2: Yeah, skater around the social security all that.

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Speaker 3: Well, there you go.

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Speaker 4: An take advantage is so many of these other things, right,

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like that in these era of governments running out of money,

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there's also all these wonderful investments that can protect you

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from it and rapping a heck of a year.

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Speaker 3: And hopefully we can tell you why.

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Speaker 2: Yes, thank you, Zach, appreciate you, Thank you.

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Speaker 3: Investment Advisory services offered through Track Financial LLOC, an SEC

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registered investment advisor.

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Speaker 4: The opinions expressed in this program are for general informational

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purposes only and are not intended to provide specific advice

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or recommendations for any individual or on any specific security.

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Any references to performance of security so are thought to

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be materially accurate, and actual performance may differ.

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Speaker 3: Investments involve risk and are not guaranteed. Past performance doesn't

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guarantee future results. Track twenty four to three zero eight