Its Over, page-3550

The stealth way the Fed can steal savings is through prolonged periods of financial repression by maintaining ultra low interest rates or even negative interest rates in the face of higher inflation , causing a reduction in purchasing power. I am not sure what Graham is alluding to in the article.

Wealth tax (like those Warren and Sanders), inheritance tax, land tax are other forms Govts (not central bankers) can introduce, Another form of tax which I do not know why isnt considered is a transaction tax - a tax on every piece of legal transaction - from share purchase, property S&P, M&A- it can raise a lot of money at a small % levy on transaction value without having the effect of deterring the parties from entering the transaction. Raising the GST level is another but would have a bigger impact directly on consumers pocket across all levels of society.

Bailouts at the end of the day is unlikely to be a free lunch - someone will have to pay for it and it usually isn't the one who needs it.
But Governments won't do to check the escalating asset bubble because it gives an overall sense of prosperity that ensures they get another term in office.