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Robbery, Tax or Monetary Policy?

Sunday, March 21, 2010 - 9:56 AM
Scott Burns' commentary in the Austin Statesman should be well appreciated here:
It's a tax or a robbery, but it's called monetary policy. It takes money from one and transfers it to another, just as a tax or robbery would.

How large is that transfer? Try $70 billion to $140 billion. That's a guesstimate based on taking 1 or 2 percentage points from that $7 trillion in deposits.
As I described in this February post, the US savers are not alone on this issue. UK savers have organized a group called Save Our Savers.
Ken TuminKen Tumin5,467 posts since
Nov 29, 2009
Rep Points: 124,996
1. Sunday, March 21, 2010 - 10:57 AM
Burns' commentary is right on the mark. Thanks for the "notice".
AnonymousAnonymous2,282 posts since
May 9, 2010
Rep Points: 3,912