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Americans are getting stripped of $720 billion a year…
In today’s 3-Minute Market Minder, The Palm Beach Letter’s Teeka Tiwari reveals the bitter fruits of the Federal Reserve’s ultralow interest rate policy and the War on Cash.
Americans hold a net $12 trillion in cash today. But eight long years of interest rates near 0% have levied a brutal “hidden tax” on the American saver. Almost $1 trillion per year—the interest that cash hoard would have earned in a normalized interest rate environment—never makes it into Americans’ pockets.
The good news is Big T’s shared two safe ways for PBL subscribers to “opt out” of this tax. They both pay a safe 10-11% income in today’s abysmal interest rate environment. Click here to watch the video.
(Current Palm Beach Letter subscribers can access Teeka’s safe high-income recommendations here and here. Others can gain access right here.)