Ed Note: The 10 yr Treasury note Yield recently hit a low of 1.7%, destroying as the author posits the whlole idea of saving for a rainy day (at least with bonds!)

Suicide of the Saver

Savers and pensioners! Your murderers need no revolution to storm your stately homes and palaces…

IT’S NOW 100 years since Great Britain established its welfare state. Shortly after, and as the First World War kicked off, it abandoned the free exchange of bullion for notes under the classical Gold Standard.

Those 3 events were far from unrelated, but 100 years later it’s the monetary shift which feels most pressing right now. Yes, political fighting over the welfare state is hotting up, but a European shooting match looks unlikely (for the time being). Whereas UK savers and retirees, like their peers across the continent, in North America and pretty much everywhere else, are getting slaughtered.

….read more HERE