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http://www.lewrockwell.com/2013/08/bill-sardi/the-grand-illusion-2/
So Americans are losing nearly 10% on the value of their banked money annually by placing it in the bank. After taxes and loss of purchasing power due to inflation, most Americans would have lost money putting it in a savings account.
Americans have an estimated $8-13 trillion banked in long-term savings accounts. How much money and wealth have Americans lost since interest rates don’t even approach the rate of inflation? One expert estimates Americans have lost a whopping $10.8 trillion in earned interest usage since 2001. That is a very harsh reality!
So Americans are losing nearly 10% on the value of their banked money annually by placing it in the bank. After taxes and loss of purchasing power due to inflation, most Americans would have lost money putting it in a savings account.
Americans have an estimated $8-13 trillion banked in long-term savings accounts. How much money and wealth have Americans lost since interest rates don’t even approach the rate of inflation? One expert estimates Americans have lost a whopping $10.8 trillion in earned interest usage since 2001. That is a very harsh reality!