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 Post subject: The War on Savers
PostPosted: April 19th, 2014, 8:24 am 
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Joined: April 12th, 2010, 7:29 am
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Governments around the world, in order to reduce the carrying costs of their irresponsible deficits and debts, and to encourage us to 'consume' more, have abandoned savers and investors. Central banks’ rock bottom interest rate policies means that you are literally paying the bank to store your money.

By investors, I mean the people who start businesses and hire people, the job creators, not stock market speculators.

Neil MacDonald, in his recent CBC series “The 'monarchs of money' and the war on savers” explains:-

“Probably the most painful of the consequences of quantitative easing has been borne by the elderly.

Most of that generation grew up believing that if you save and exercise prudence that you will earn at least a modest return on your hard-earned money to keep you comfortable in your old age, perhaps along with a pension.

But the money-printing orgy of the last five years looks to have shot that notion to smithereens.

Very deliberately, the central bankers have punished savers, pushing interest rates so low that any truly safe investment — and older people are always advised to play it safe — yields a negative return when inflation is factored in.”


Read his excellent article here - http://www.cbc.ca/news/world/neil-macdo ... -1.1358047

Ed

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Searching for truth with an open mind is more rewarding than belief, which by definition is unquestioning.


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