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Should the US introduce Premium Bonds?

Topic closed. 5 replies. Last post 8 years ago by Jack-C.

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Bondi Junction
Australia
Member #57242
December 24, 2007
1102 Posts
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Posted: January 5, 2009, 3:44 am - IP Logged

A Premium Bond is a lottery bond issued by the United Kingdom government's National Savings and Investments scheme. The government promises to buy back the bond, on request, for its original price.

 

The government pays interest on the bond but, instead of the interest being paid into individual accounts, it is paid into a prize fund from which a monthly lottery distributes tax-free prizes, or premiums, to selected bond-holders whose numbers come up.

 

The machine that generates random numbers for the lottery is called ERNIE, which stands for Electronic Random Number Indicator Equipment. There are many different prizes ranging from £50 to the top prize of £1,000,000, of which there have been two per month.

    Bondi Junction
    Australia
    Member #57242
    December 24, 2007
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    Posted: January 5, 2009, 3:48 am - IP Logged

    The US Government could raise billions form the American people with Premium Bonds, just as in the UK.


      United States
      Member #58528
      February 18, 2008
      710 Posts
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      Posted: January 5, 2009, 3:49 pm - IP Logged

      The US Government could raise billions form the American people with Premium Bonds, just as in the UK.

      They already raise BILLIONS from American citizens...they call it taxes,and they give it away to Wall Street thieves and incompetant Detroit automakers!We don't need the U.S. Government involved in any sort of lottery,especially with RNG's,because our government is corrupt from the top on down.

        grengrad's avatar - nw rogue.jpg
        Raleigh
        United States
        Member #49057
        January 17, 2007
        172 Posts
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        Posted: January 5, 2009, 4:33 pm - IP Logged

        I like the idea. I would probably put a few thousand in it.

          BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
          Magnolia, Delaware
          United States
          Member #18795
          July 20, 2005
          789 Posts
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          Posted: January 5, 2009, 4:34 pm - IP Logged

          They already raise BILLIONS from American citizens...they call it taxes,and they give it away to Wall Street thieves and incompetant Detroit automakers!We don't need the U.S. Government involved in any sort of lottery,especially with RNG's,because our government is corrupt from the top on down.

          I Agree!

          Keep dreaming the impossible dream, it just may come true! Thumbs Up

            Jack-C's avatar - us
            San Diego, CA
            United States
            Member #61467
            May 24, 2008
            28146 Posts
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            Posted: January 5, 2009, 4:42 pm - IP Logged

            They already raise BILLIONS from American citizens...they call it taxes,and they give it away to Wall Street thieves and incompetant Detroit automakers!We don't need the U.S. Government involved in any sort of lottery,especially with RNG's,because our government is corrupt from the top on down.

            I Agree!