American savers lost an estimated $500 billion due to low interest rates since the financial crisis
“Savers are still paying due to the financial crisis,” said [Wells Fargo’s Mike] Mayo. “It’s absolutely a wealth transfer from prudent savers to the borrowers and risk takers.”
USAGOLD note: The net effect on peoples’ lives is hard to calculate and probably exceeds the $500 billion price tag Mayo puts on the savings/interest rate debacle.
Repost from 4-10-2019
Reliably serving gold and silver
investors for over 45 years!
Great prices. Quick delivery. All the time.
Modern gold and silver bullion coins
Historic fractional gold coins (bullion-related)
Historic U.S. gold coins
10:45 pm Mon. May 20, 2019
Visit our Online Order Desk
Live Prices • Order Anytime
Better Business Bureau
A+ 5-Star Rating
Since 1991 • Zero Complaints
Join us for our live daily newsletter
NEWS & VIEWS
A contemporary web-based client letter with a distinctively
For those who still like to sit down with a good book as well as for those who still believe it important to buy the book before you buy the investment. This one has helped thousands of investors learn the basics of gold ownership.
The author is the founder of USAGOLD.