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Låg ränta, bra för vem? Inte för spararna.

For as the chart below clearly shows, the Fed actions have removed an enormous amount of interest income from the economy.

In fact, it has removed over $100 bln more in interest income than the total net gain in private wages and salaries since it began undertaking these extraordinary measures.

Followers of Modern Monetary Theory (MMT) know why this is true: Quantitative easing is nothing more than an asset swap.

The Fed removes one asset - a Treasury, for example - and replaces it with a cash balance (reserves) in the banking system.

The result is that the private sector is stripped of the interest it would have earned on that Treasury, which is more than the zero-percent it earns on cash balances.

 Ja, och bankerna får låna till nästan noll i riksbanken och kan öka sina vinster och bonusarna är säkrade. Läs mer här

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