Video (12min 5sec): Max Keiser: Savers vs Speculators. Max Keiser looks at the ongoing financial crisis and asks whether the government and Central Bank remedies are penalising workers and savers.
"The world's financial markets are truly feeling the pinch. The lack of money and credit, falling housing market, and banks folding. Things are so bad that some are predicting that we are heading towards financial Armageddon. Governments and central banks are trying to cushion financial markets from a complete meltdown.
"So the US Federal Reserve, the 'Fed', and central banks have come up with a plan to pump more cash into the global financial system to ease what's being called 'the credit crunch'. The other banks involved are the Bank of England, The Bank of Canada, European Central Bank, and the Swiss National Bank.
Part of the plan has been the reduction of interest rates which is really good news for mortgage holders and banks on the verge of collapse, but it's bad news for savers..."
