Federal Reserve policy helping rich get richer

[Ichingcarpenter]

Federal Reserve policy is creating "economic distortions" resulting in a transfer of wealth to the people who need it least, according to an analysis from a prominent Wall Street bond expert.

A stock buyback frenzy that has boosted the market and put money in the hands of those seeking short-term gains is but one of the less-desirable Fed benefits cited by BlackRock's Rick Rieder in a blog post on the firm's website.

"The global economy is witnessing a massive redistribution of wealth and income with borrowers, equity shareholders and short-term investors benefiting; and savers, bondholders and longer-term investors being placed at risk," wrote Rieder, chief investment officer of BlackRock's Fundamental Fixed Income division and co-head of Americas Fixed Income.

http://www.cnbc.com/id/102730177

[peecoolyour]

1. Accidentally on purpose, no doubt. nt

[Octafish]

2. Isn't this great?

The money is good.

"One of the things that is interesting about reading conspiracy theory is that much of what folks think is conspiracy is really many people acting in concert to make or protect their money." - Catherine Austin Fitts

A big shot in Poppy's crew, Fitts got fed up with the corruption at the highest levels of government, business and finance. She's doing all she can to document corruption on Wall Street and Washington and helping those who give a damn do something about it. Her Narcodollars for Beginners deserves a Pulitzer.

Integrity is an alien concept to the plutocrat. Still, what the Black Rock guy pointed out are the small potatoes. The big money is in manipulating LIBOR, etc. "We've paid the fine." Heh heh heh.

[ProfessorGAC]

3. Oh Good!

Told my entire life to be a saver and take a long term view. Don't chase get rich quick ideas.

Now, that's the risk? Black is white. White is black.

[jamzrockz]

4. Also going to put this nice and short video

on other ways the fed screws the little guy

Enjoy

[bob4460]

6. Thanks for this I tried to explian it to my kids.

[Rex]

5. That's the way plutocracies work. I wonder if there is ever going to be an end

to the completely corrupt system we have in place? Seems like NEVER is the answer.