It isn't only the obscenely wealthy who hold Treasury debt.  I'm retired federal civil service and disabled Vietnam vet who took what little savings my husband and I have left and bought Treasury Bills.  This we did simply to protect (we thought) the money.  The Bills turn over every month at auction and we ride the coat tails of the big investment companies and accept the auction results.  Not only secure, but the return is 10 times the return on a commercial bank savings account.  Lately, the return has soared as money has flowed into Bills.  Inflation still eats up our savings, but at a reduced rate.  If Treasury defaults on its obligations, I just hope our principle will be safe.  But, who knows?  Uncharted waters may contain monsters.

It isn't only the obscenely wealthy who hold Treasury debt.  I'm retired federal civil service and disabled Vietnam vet who took what little savings my husband and I have left and bought Treasury Bills.  This we did simply to protect (we thought) the money.  The Bills turn over every month at auction and we ride the coat tails of the big investment companies and accept the auction results.  Not only secure, but the return is 10 times the return on a commercial bank savings account.  Lately, the return has soared as money has flowed into Bills.  Inflation still eats up our savings, but at a reduced rate.  If Treasury defaults on its obligations, I just hope our principle will be safe.  But, who knows?  Uncharted waters may contain monsters.

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