The Real Reverse Robin Hood: Ben Bernanke and His Merry Band of Thieves
Away from the stifling media crush, staid Ben Bernanke is dashing Reverse Robin Hood, lackey pawn of the Neofeudalist Financial Lords who shamelessly steals from the poor to give to the parasitic super-rich.
Amidst electioneering chatter about a “reverse Robin Hood” who steals from the poor to give to the rich, it’s important to identify the real Reverse Robin Hood: Ben Bernanke and his Merry Band of Thieves, a.k.a. the Federal Reserve. It’s especially appropriate to reveal Ben as the real Reverse Robin Hood today, as the Chairman is as omnipresent in the media as Big Brother due to the Cargo-Cult confab in Jackson Hole, Wyoming.
Please answer the following questions before launching a rousing defense of the All-Powerful Fed and its chairman:
1. What is the nominal yield on your savings account, thanks to the Fed’s zero-interest rate policy (ZIRP)? (Answer: 0.25%)
2. What is the inflation-adjusted yield on your savings account? (Answer: - 2.25%)