Stock Market Over 85 Years – Has the Fed Produced Any Benefits?
May 30, 2014 by Leave a Comment
By Robert Prechter Has the Fed Produced Any Benefits? The Fed has benefited the government 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 benefitted bankers 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.