I've posted this before. Lets also not forget how monetary policy/Govt/ Fed Res works against saving for ones later years also. People need to see that as they devalue the currency (which is the store of your hard physical labor) through printing, QE, emission of cheap credit, they are really stealing your hard labor from you with no compensation. Lets call it what is. This is theft of labor (as measured by the devalued currency) which equals slavery whether monetarily or physically it's the same Stealing labor is slavery to benefit a bloated govt. and banksters ! Until people stand up and demand that their labor is their own this is going to continue. The main purpose of a currency is to retain stored value. This allows you when young to save excess labor you are able to do quite easily for a time when you are old and perhaps are unable to work or wish to not work as hard as say when your 18. Their "desired 2% inflation rate" is far from low and stable.
Info below credited to Mr Denninger's post located here.
"The Fed Mandate is for stable prices, not 2% inflation. Need I remind everyone that a 2% inflation target, if met over a 45 year working life (age 20 - 65) results in a price increase of 144%? Of course the actual performance of The Fed historically is closer to 3% inflation. That's a 278% inflation over the same 45 years. Put another way if you earned $1 in purchasing power at age 20 and saved that dollar, you have about 35 cents left at age 65. And this is Bernanke's intent." These monetary policies silently steal from everyone on a grand scale and it is all done intentionally to give the appearance that all is well when it is certainly anything but. |