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Savings And Deposits And The Zero Percent Bank Account – Punishing The Saver For A Nation Fueled By Debt Consumption.

Tuesday, July 31, 2012 - 8:00 PM
The current financial system is designed to punish savers.  The Federal Reserve by cutting the Fed funds rate to virtually zero has made it a disincentive for people to store any of their wealth and get any acceptable return.  If we look at savings account rates you will find that many banks are offering from 0 to 1 percent for these accounts.

Savings and Deposits and the Zero Percent Bank Account – Punishing the Saver for a Nation Fueled by Debt Consumption. | Finance my Money
8
ShorebreakShorebreak2,671 posts since
Apr 6, 2010
Rep Points: 14,501
1. Wednesday, August 1, 2012 - 11:01 AM
Shorebreak:  I should know better than to try to eat and read your posts.  I know you are just trying to bring our attention to the nightmare going on with savers but what I would like to read is some ways we can actually put a stop to it.  I know there are many financial brains who feel Bernanke is going in the wrong direction for our country but who can stop him?  If you find an article giving this info, it would be the joy of my day and I am sure thousands of other savers.  Thanks for the info, good or bad.
2
paoli2paoli21,398 posts since
Aug 10, 2011
Rep Points: 6,129
2. Thursday, August 2, 2012 - 9:18 AM
There are others out there who want to make changes for the punishment savers are taking from the Fed:

http://democracyforamerica.com/activities/785-real-fed-reform-now/

Please read and if you agree, you might consider signing as a way to make difference.  Thanks!
1
paoli2paoli21,398 posts since
Aug 10, 2011
Rep Points: 6,129
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