Federal Reserve Bank moves to impoverish seniors and savers
Rebel1
Why haven't you commented on how low interest rates are impoverishing
seniors who prudently saved for retirement, expecting to live on income
from Social Security and interest from CDs? Once again, savers are being
exploited to bailout spenders who are over their heads in debt. And AARP
doesn't say a word. (I know, it's much more fun to promote insurance
policies and dangerous drugs.)
To make matters worse, the Fed (by the way, it's a privately held - by
bankers - organization, not a government arm) yesterday announced that
it is striving for HIGHER inflation, aiming for 2.9% in 2012. This is a
second whammy against retirees: first cut their income, then increase
future prices they will have to pay and push them toward poverty and
becoming dependent on government handouts.
http://news.yahoo.com/s/nm/20101016/bs_nm/us_usa_fed_evans
They purposely fight deflation because people will tend to postpone
current spending hoping for still lower future prices, which in turn
leads to a further spiral of downward prices and a contraction of the
economy. By discouraging savings with zero interest rates and
publicizing its goal of higher future prices, the Fed is trying to
encourage spending now (instead of hoarding) dollars to stimulate the
economy and save the declining dollar.
In reality, the Fed's actions are a desperate attempt to sustain our
unsustainable economic model, which is based on overconsumption using
borrowed funds, which of course fattens the profits of the banks that
own the Fed. Natural resources and debt are NOT in infinite supply, as
our economic model wrongly assumes.
The biggest of all Ponzi schemes is finally collapsing, right now.
Rod Speed
> (This is from a letter to the AARP Bulletin magazine.)
> Why haven't you commented on how low interest rates are impoverishing
> seniors who prudently saved for retirement, expecting to live on income from Social Security and interest from CDs?
> Once again, savers are being exploited to bailout spenders who are over their heads in debt.
Nope, to attempt to ensure we dont see another great depression or worse.
> And AARP doesn't say a word. (I know, it's much more fun to promote insurance policies and dangerous drugs.)
Mindlessly superficial.
> To make matters worse, the Fed (by the way, it's a privately held
Thats a myth.
> - by bankers - organization, not a government arm)
In reality it is an arm of govt.
> yesterday announced that it is striving for HIGHER inflation, aiming for 2.9% in 2012.
Because thats the main hope for reviving the economy, stupid.
> This is a second whammy against retirees: first cut their income, then increase future prices they will have to pay
> and push them toward poverty and becoming dependent on government handouts.
Yeah, yeah, its those damned jews conspiring in smoke filled rooms to shaft us all...
> http://news.yahoo.com/s/nm/20101016/bs_nm/us_usa_fed_evans
> They purposely fight deflation because people will tend to postpone
> current spending hoping for still lower future prices, which in turn leads to a further spiral of downward prices and
> a contraction of the economy.
Yep.
> By discouraging savings with zero interest rates
Thats an undesirable side effect of the main tool they have to control the state of the economy.
> and publicizing its goal of higher future prices, the Fed is trying to encourage spending now (instead of hoarding)
> dollars to stimulate the economy
Yes.
> and save the declining dollar.
Nope, thats the result of the 'quantitative easing' which is a fancy way of saying printing
money although there isnt any need to print it anymore, its all done electronically now.
> In reality, the Fed's actions are a desperate attempt to sustain our unsustainable economic model, which is based on
> overconsumption using borrowed funds,
Thats a lie. That worked fine for decades.
> which of course fattens the profits of the banks that own the Fed.
Yeah, yeah, its those damned jews conspiring in smoke filled rooms to shaft us all...
> Natural resources and debt are NOT in infinite supply,
Duh.
> as our economic model wrongly assumes.
Like hell it does.
> The biggest of all Ponzi schemes is finally collapsing, right now.
Fools ran the same line during the great depression. The reality is that
there were lots of full depressions in the century before 1929 and just
one recession that got anything like a full depression since then.
Like it or lump it. Baying at the moon aint gunna change a damned thing.