The Federal Reserve’s “zero interest rate policy” (ZIRP) of the last half dozen years or so has been a financial act of war on the country’s seniors and, for that matter, on all savers. Under ZIRP, interest rates are artificially lowered through the Fed’s monetary policy popularly known as, “QE,” quantitative easing.
ZIRP is actually “class warfare” not in the Marxist/socialist sense of “labor vs. capital,” but in its surreptitious redistribution of wealth from savers (retirees) to the government and politically well-connected financial elites. Moreover, the Fed’s action is turning seniors into a dependent class who are no longer able to sustain a reasonable standard of living.
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