The Fed Steals from Retirees and Savers

The U.S. Corporation has turned out to be another Robin Hood, only in complete reverse: instead of robbing from the rich to give to the poor, the U.S. Corp is doing just the opposite.

Should we be surprised?

Concerned American Dad

from Nick Giambruno, senior editor ofDoug Casey’sInternational Man

One of the biggest robberies in the history of mankind is happening right now.

Strangely, few seem to notice.

Maybe that’s because the perpetrators are wearing suits and ties instead of ski masks. They use complex economic jargon instead of guns. And the media treat them with respect.

None of this changes the nature of their actions. They’re still taking without consent. The result is no different than if a thief picked your pocket.

Here, though, most victims don’t even realize they’re victims. The most prominent victims are retirees.

Retirees depend on the investment income earned from their life savings to pay the bills. The amount of income generated depends on interest rates.

You see, market forces don’t set interest rates. A politburo of central planners—who call themselves central bankers—set them. The Federal Reserve is the US’s central bank.

Central…

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