Hedge fund billionaire: Fed's move 'fantastic' for the rich

[Ichingcarpenter]

The Federal Reserve isn't just inflating markets. It's also shifting a massive amount of wealth from the middle-class and poor to the rich, according to billionaire hedge fund manager Stanley Druckenmiller.

In an interview on "Squawk Box," the founder of hedge fund Duquesne Capital said that the Federal Reserve's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer will be paid by future generations.

"This is fantastic for every rich person," he said Thursday, a day after the Fed's stunning decision to delay tightening its monetary policy. "This is the biggest redistribution of wealth from the middle class and the poor to the rich ever."

"Who owns assets—the rich, the billionaires. You think Warren Buffett hates this stuff? You think I hate this stuff? I had a very good day yesterday."

Druckenmiller, whose net worth is estimated at more than $2 billion, said that the implication of the Fed's policy is that the rich will spend their wealth and create jobs—essentially betting on "trickle-down economics."

http://www.nbcnews.com/business/hedge-fund-billionaire-feds-move-fantastic-rich-4B11199524

[Ichingcarpenter]

1. Quantitative Easing

A long list of articles understanding what it does for the rich and not the rest of us.



http://www.zerohedge.com/category/tags/quantitative-easing

[fasttense]

2. Quantitative Easing, when bailouts are just not enough. n/t

[dotymed]

3. This is the biggest redistribution of wealth from the middle class and the poor to the rich ever."

During a depression, after wall street raping America under the direction of U.S. govt.

WE MUST STAND UNITED AGAINST THESE POLICIES. FUCK THIS FASCIST POLICE STATE.

trickle down only works with piss.

Bernie please run for POTUS...

[bloomington-lib]

4. This long drawn out robbery is putting me in a bad mood.

[Johnny Ready]

5. Bunker Down - Buy Gold / Fear and Consequences

Personally I think this is the lesser of two evils. The question in my mind is regardless of any efforts to increase spending or investing by the wealthy, who among them shall try to open a business with war as front page news? How can we ever expect the rich to actively seek the opportunity for more wealth if we are constantly in an unpredictable war state?

Who would dare to invest in a business with cold war rhetoric dominating the news, and WMD mentioned in every other article?

This I feel negates any positive steps we may try to take to improve our economy. Which is a long winded way of saying although I think the Fed's move is logical, it cannot "work" under current circumstances.

As long as the wealthy are building bunkers to survive in we will not have any chance at a recovery.

[truebluegreen]

7. ??? The rich love war.

They don't fight it, and they profit from it...it is totally counter-productive for the rest of us, but that's no worry for them.

[truebluegreen]

6. Foaming the runway with the poor and middle class;

making the world safe for those poor, poor rich folks

[Ichingcarpenter]

8. I had no idea

I had no idea the poor were fraudulently trading their food stamps for the Wall Street derivatives that crashed the entire f@*#ing economy.

[truebluegreen]

10. Actually, they used them to purchase houses they couldn't afford

and that's why the global economy collapsed.

[woo me with science]

9. K&R