Ben Bernanke Steals Americans’ Savings with Interest Rate Cut

With his gallant tandem of half point rate cuts, Ben Bernanke not only set global stock markets on a two-day tear, he signalled his intention to steal away the savings of Americans by unleashing inflation. Gold and oil have obliged by setting new recent highs.

Has the Fed fixed things? Or has the Fed simply given the market a fix?

That first rush of credit back in the system has produced anticipatory shivers of joy, the way your mouth waters when you’re about to eat a spoonful of crème brulée. Or it could be short covering by terrified bears. The larger-than-expected cut in both the funds and the discount rate likely scared some bears into covering their shorts and getting out of the way of the credit junkies, who can be dangerous under the ecstasy of cheap money.

Dan Denning
Markets and Money

Dan Denning
Dan Denning examines the geopolitical and economic events that can affect your investments domestically. He raises the questions you need to answer, in order to survive financially in these turbulent times.

Leave a Reply

1 Comment on "Ben Bernanke Steals Americans’ Savings with Interest Rate Cut"

Notify of
Sort by:   newest | oldest | most voted

anticipatory shivers of joy—ecstacy of cheap money===@=0 forget finance – this is poetry- keep it up i think i like it.

Letters will be edited for clarity, punctuation, spelling and length. Abusive or off-topic comments will not be posted. We will not post all comments.
If you would prefer to email the editor, you can do so by sending an email to