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I'll explain this briefly.
When the Fed was doing quantitative easing, it was printing money to buy assets from financial institutions that were in deep trouble. Some of the assets it bought were mortgages that were way under water and unlikely to ever get paid back. So basically, the Fed was bailing the banks out of their bad loans in a back door way.
When they print money like that, they are diluting the value of all the other dollars out there. So it is actually "we the people" that were bailing out the banks. We all got poorer to make all those irresponsible banks and bankers healthy again.
Imagine you had a business and you were about to go under because you had a lot of bad inventory. I didn't want you to go under so I bought all that inventory with my money to bail you out. Now I have all that crap and you have my money and are whole again. I have just done you an enormous favor.
Then you take all that money I gave you and deposit it back to me and insist that I pay you interest on it.
That's what's happening. We bailed out the banks and now we are paying interest on the money we gave them. It's absurd. They are pillaging us.
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"Unlearning is the highest form of learning"
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