Friday, May 27, 2011

[Video] PIMCO's Bill Gross on Disadvantaged U.S. Savers

PIMCO's Bill Gross below on how U.S. policy is essentially theft from the saver class and subsidization for the debtor class and banking class. Banking analyst Chris Whalen has estimated this 'theft' comes to the tune of some $750B a year. [Apr 4, 2011: WSJ - Fed's Low Interest Rates Crack Retirees' Nest Eggs]

7 minute video

[Mar 31, 2010: Bernanke Content to Sacrifice American Savers to Recapitalize Banks and Benefit Debtors]

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