"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat


Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

Trader Dan's Work is NOW AVAILABLE AT WWW.TRADERDAN.NET



Wednesday, August 10, 2011

Bernanke and company punishing Savers in their efforts to jam the equity markets higher

I want to make a quick point here as a type of follow up to my comments from yesterday regarding the Fed's intentions to run investors out of bonds and into equities in search of yield.

Think about the horrific effects that this stupidity is having on our senior citizens and those who are retired and attempting to live off of the interest on their life's savings. They have none!

What are they supposed to do? Hire some hot shot hedge fund manager to get them into the latest and hottest IPO?

Bernanke and his pals at the Fed are turning the entire nation into a generation of wild-eyed speculators all in an attempt to get a decent rate of return on their saved wealth.

Don't forget this segment of the population when you hear some double-talking politician or monetary authority flapping his mouth about how the Fed is trying to "help".

Punish savers and reward debtors - Welcome to America in the new millenium.
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4 comments:

  1. CortoAugust 10, 2011 at 11:33 AM

    Thank you! I have been so frustrated hearing how a debt downgrade will raise interest rates, well, my retired parents would like to see their .01% rate on their savings rise, because they sure as hell were scared completely out of the market in 2008 and will never get back in!

    ReplyDelete
  2. SteveAugust 10, 2011 at 11:55 AM

    Dan, thank you for your additional comment. My wife and I got out of the stock market a while back, never to return. All our retirement funds are in bullion and will stay there. Thanks for the insight, you are educating me all the time and do not miss you on King World News. Thanks again.

    ReplyDelete
  3. jake the snakeAugust 10, 2011 at 1:08 PM

    seems as though there is a coalescing of opinion

    Jesse has a thoughtful post today, and when I'm out and about on the streets of my local burg, I sense a growing bitterness which is leading to a place of resolve

    as I have written to Jesse, hell's a poppin

    ReplyDelete
  4. The DocAugust 10, 2011 at 3:11 PM

    Gold is trading at $1800, and yet silver remains capped under $40.
    Feel free to express your feelings to Blythe at her personal blog
    http://silverdoctors.blogspot.com/2011/08/blythe-masters-blogspot.html

    Or on her personal Facebook page.
    http://silverdoctors.blogspot.com/2011/08/blythe-masters-facebook-page.html

    Facebook comments are removed within minutes and expect to be permanently banned from Blythe's facebook page like we were!) ;)

    -Doc

    ReplyDelete

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