(Big Fat Schocker) Claim: ‘Fed Policy Helps Rich Get Richer’

According to some reality-smashing journalism coming out of NBC, the Federal Reserve’s policies are creating “economic distortions” that result in transfers of wealth to, you guessed it, the wealthy.

“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.

The wealth gap in this country is already the largest it has ever been in recorded history and it just continues to widen. Gee. I wonder why.

Last year, Fed Chair Janet Yellen even admitted America is an oligarchy.

Meanwhile, while we all have a pretty good idea who owns the Fed, have fun trying to get an answer to that question or really any solid idea who the Fed is ultimately accountable to when you visit the agency’s official website. In short, they don’t say.

Apparently (and I quote), “the Federal Reserve can be more accurately described as ‘independent within the government’ rather than ‘independent of government’.”

Makes sense… considering our government is run by corporations.