The Fed's low interest rate on bank deposits is a key factor in stealing middle class assets.

A large part of loans to consumers involve credit card balances which interest rate can be 14 percent or more.

So, we see a situation where middle class depositors receive 0.1 percent on their savings while paying the bank 14 percent or more on their credit card balances.

The banks pay 0.1 percent (0.001) on deposits of their customers while charging credit card customers 14 percent or more on credit card balances of their customers which amounts to a spread of 0.14 / 0.001 which equals 140 times. That is, the bank receives from its credit card customers 140 times what it pays to its depositors for the use of their money.

Even when a loan is 6 percent, the spread is 0.06 / 0.001 = 60 times. .

Consider, a person has $100,000 in a retirement account. At 0.1 percent interest, in one year, that person earns $100,000 x 0.001 = $100. A few years ago, many banks paid around 2.0 percent interest, so a few years ago, that $100,000 was earning $100,000 x 0.02 = $2000 in a year.

Earnings on bank deposits aren't even keeping up with inflation.

The banks, with the collusion of the Federal Reserve, are transferring the savings of depositors to the banks and Wall Street.