Stock Market Over 85 Years – Has the Fed Produced Any Benefits?

By Robert Prechter
Has the Fed Produced Any Benefits?
The Fed has benefited the
mightily. Its exchange of new accounting units for the Treasury’s bonds
has stealthily transferred value from savers’ accounts to the government. In conjunction with the FDIC, it has also
in the short run by allowing them to make profits on reckless loans and avoid accountability. But
in doing so it has sucked value out of savers’ accounts and burdened the American economy.

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