Where the money is....

When Willie Sutton bank robber was asked why he robbed banks he said "Because that is where the money is". How things have changed.

The banker's Bank the Federal Reserve is now robbing savers with near zero interest rates. Why? Because that is where the money is. It is a hidden tax. No law was passed. Still you are having the your money stolen through near zero interest rates to restore bank's balance sheets. If you had $300,000 in an IRA (or 401k) earning 5% in 2007 ($18,000 a year with nearly no risk) you are lucky if you earn half that today. That is a $9,000 or more of hidden taxes.


I hope to expose these types of actions and others by the FED and government. Boomers need to be vigilant - because their savings is where the money is. I will also delve into other areas of finances of interest to Boomers.

Monday, September 12, 2011

Hold on to your wallet

I told you in one of my very first posts - If you are retired (or soon will be) and have funds for that - that they would come after you - because that is where the money is. 

Here is a long and detailed article telling you how.  It is long, but worth the read:

http://www.financialsense.com/contributors/daniel-amerman/2011/09/12/the-2nd-edge-of-modern-financial-repression
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