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  • Dick Young’s Safe America

Fed Turns Savers into Sacrificial Lambs

September 17, 2012 By E.J. Smith

How is Federal Reserve Chairman Ben Bernanke helping your bank account? It’s not pretty, I know. Here we have a guy who is from the Ivy halls of academia controlling the value of the dollars you earned busting your butt in the private sector. The money you saved rather than spent on lavish vacations or new cars is rotting away thanks to him. Just look at how gold prices have moved up. Gold is priced in dollars per ounce, so when it goes up there is a relative devaluation of the dollar. In other words, it’s inflationary.

You know darn well your dollar is worth less and less. You fill up your car with gas and buy food to survive. They’re not getting cheaper. It would be nice if you got some quantitative easing at the register, but you don’t. Quantitative easing is helping Wall Street.

Look at my chart on the velocity of money. It’s at a more than five-decade low. At some point it will pick up. And when it does, inflation could spike. You can thank a complicit Federal Reserve for that. They should be protecting the value of your dollar to reward you for years of sacrifice. Instead, you’re the sacrificial lamb.

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E.J. Smith
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com
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