… is from page 179 of Robert Higgs’s October 26th, 2011, blog post – a post that in 2022 is even more relevant than when it first appeared – “The Euthanasia of the Saver,” as this post is reprinted in Bob’s superb 2015 volume, Taking a Stand:
The politicians constantly bark about their solicitude for those who are helpless and in difficulty through no fault of their own. Yet the scores of millions of people who saved money to support themselves in old age now find themselves progressively robbed by the very officials who purport to be their protectors. There are many reasons to oppose the Fed’s policy. The reason brought to mind by the official euthanasia of the nation’s small savers deserves far more attention than it has received to date.