Former US Federal Reserve chairman Ben Bernanke locked the US into a regime of near-zero interest rates. Saving accounts are practically denied any interest income, losing about 30% a year in value compared to stocks and 15% a year compared to housing. To keep interest rates so low, Bernanke had to print billions of dollars every month, pushing the balance sheet at the Fed to US$4.2 trillion. And the Fed will keep increasing the money base ad infinitum, from $4.2 trillion to $10 trillion to $100 trillion, and eventually even further.
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