Federal Reserve Chairman Ben Bernanke continued the Fed’s war on and destruction of American savers and retirees last week with a continuation of Operation Twist.
As Bloomberg notes, “The continuation of Operation Twist ’should put downward pressure on longer-term interest rates and help to make broader financial conditions more accommodative,’ the Federal Open Market Committee said today in a statement at the conclusion of a two-day meeting in Washington.”
In other words, Bernanke has announced that the Fed is going to keep shuffling the same money piles back and forth to continue the charade that it is doing something constructive for the American people. But the truth is much different.
Keeping interest rates low helps the banksters and keeps government’s fictional “debt” low, which allows it to spend more money. But it is devastating to savers and people living on fixed incomes, pensions and retirement funds. The Fed says this will continue at least through late 2014. By then, interest rates will have remained at or near zero for six years, and just slightly higher for much longer.
Read more by Bob Livingston at Personal Liberty Digest
- Emperor Ben Bernanke Has No Clothes
- Failed Fed Policies Prolong the Agony
- Bernanke to Savers, Unemployed and Wall Street: Drop Dead
- Nominal vs. Real Dollars
- Cheating Investors As Official Government Policy
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