The Interest Conspiracy

I'm only 37 years old.  But as a child I remember the great times that were the eighties during the Reagan years.  To this day I still remember going to the bank with my parents as a kid and seeing on the wall that interest rates on savings accounts were between 17 and 18%.   That was awesome!!!  But they then went down.  And down again, and down even more.  And as the years went on, they went down, down, down. 

 About six or seven years ago, the highest interest rate you could find on a savings account was about 5%.   That still wasn't bad.  But what it is now?  It's somewhere around .010%.   So what happened to make interest rates go down???

Well, some claim it's a CONSPIRACY!

The reason they think so is because there is one man and one institution that decides what interest rates are to be in America.  They actually set those rates.  And that organization is the Federal Reserve, and that man is a guy named Bernake (maybe you've heard of him).

So why would he want to set interest rates instead of allowing a FREE MARKET system to do that for itself?  And why does the FED set the rates so very low?

That's an interesting question, and one that somebody should answer! 

I know if I had the power to set interest rates, I would sure be rich!  For I could do exactly what the FED is doing.  I could make all savings, CDs, bonds, etc. to where they were only yielding about 1% or less.  That would help me keep a lot more of my money.  I would then make mortages and loans at a high percent of interest at 5% or more.   And then I'd set up some Credit Card companies that would charge interest of upwards of 25% to 30%. 

And I would do all of this so that I could get richer and people would get poorer. 

Whoops.  Did I spill the beans already?  Did I tell what they are doing and why?  Sorry.  You weren't supposed to know about that!  That's why they try to keep it all secret. 

If you know the truth, then you know that the Fed is not "Federal."  It is a private corporation.  And somehow it is above reproach, as it never has to show anyone its books, nor does it have to give account to anyone.  Further, it doesn't even have to pay income tax!  Wow! 

And that's not all!  Even it's own employees don't pay income tax!  (See Timothy Geitner for more info about that!)

The Fed sounds like a nice, profitable business.  Where can I buy stock?  (Oh, that's right, I can't.  It's only for a select few of "undisclosed" people who are allowed to own stock in that company.)

So who runs the Fed?  Who owns stock in it?  Who set it up?  Oh, that's right, I'm not supposed to ask, as much of that information is "secret," even the names of those on the Board of Directors are not given to the press.  Hmmmm.  Sounds kinda fishy, doesn't it?

The biggest problem with the FED is that it's not interested in letting the free market system work.  Instead, it wants to "regulate" it.  Why would it want to do this?  Why would you want the power to set the prices of interest rates.  If you loan money, wouldn't you want a free market to set the price of interest?  Or could it be someone wants to MANIPULATE the system in their favor???

Hmmmmmm.

At any rate, for whatever reason, there seems to be a real conspiracy against Interest Rates in our country.  How could we go from a saving account interest of 18% down to under 1% in just 30 years.  Why is that?  It sounds fishy to me.  How about you?

Please share your comments below.  Do you think there is a conspiracy to cut people's gains in savings accounts and to raise interest rates on what people owe?  If so, I'd like to hear about it.