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The Fed's Monetary Policy of Zero Interest Rates

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It is becoming increasingly obvious that the Bernanke Fed's monetary policy of fixing short-term interest rates at close to zero percent and with inflation at two percent or so of forcing negative real interest rates, was primarily designed not to help the U.S. economy but to shore up the super large American banks that were on the verge of bankruptcy when the investment bank Lehman Brothers failed on September 15, 2008. Indeed, with this policy, the Bernanke Fed has transferred hundreds of billions to these super banks at a huge cost to the rest of the economy and to international holders of U.S. dollars.

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