The euthanasia of the saver

posted by
October 27, 2011
Independent Institute
by Robert Higgs  
Posted in Commentary

"Given that the Fed’s official policy is to drive all interest rates to near zero, one may conclude that the Fed seeks to impoverish the widows, orphans, retired people, and all other financially untutored people who rely on interest earnings to support themselves in their old age or adversity. Can a crueller official policy be imagined, short of grinding up these unfortunate souls to make pet food or fertilizer?" (10/26/11)  

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