> Many older people saved large amounts of money in their bank accounts, and were expecting to live off the interest in their savings account once they retired. The interest they were due was effectively stolen when the central banks started giving away free money, it was a massive transfer of wealth.

The transfer was from people relying on interest/bonds to people relying on stock returns. Far more old people rely on stock returns than savings account interest. The transfer of wealth was actually from future taxpayers to stockholders.