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Discussion Starter · #3 ·
Graybeard said:
I can't watch that idiot. What is a MYRA?
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Title should have read MIRA not MYRA
MyIRA, it is an IRA that only holds government bonds. No other investment is allowed, no stocks or other securities, your retirement is held in government bonds only. You get to help fund the brilliant financial moves made by our esteemed government. Sure you can trust them.
 

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Discussion Starter · #5 ·
Graybeard said:
I've been retired and drawing my retirement for over 20 years now so I guess I don't need to be setting up an account for retirement.
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No one needs one of these. It is just another boondoggle by the government.
 

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RailRoad retirement is older than Social Security and supposedly still solvent. Maybe, I have my doubts.
Interest rates at zero makes bonds a poor earner. Metals are even in a steady downward spiral.
Foreign investments? Private lending? Crime? Art? It seems everything now is risk with little return.
 

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Discussion Starter · #7 ·
P.A. said:
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The banks and congress have proven it pays, if you are one of them.
 

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Mira sounds to me like a wooden plug in a leaky ship, total loss if the gov. goes belly up.
Have heard it said this will be a slow "balloon leak" of a let down, think it may be starting.
I always heard Railroad Retirement was secure because the work was so hard no one lived that long!

Blessings
 

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blind said:
Graybeard said:
I can't watch that idiot. What is a MYRA?
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Title should have read MIRA not MYRA
MyIRA, it is an IRA that only holds government bonds. No other investment is allowed, no stocks or other securities, your retirement is held in government bonds only. You get to help fund the brilliant financial moves made by our esteemed government. Sure you can trust them.

I use a Roth IRA and a traditional IRA for all my 401K roll-overs.
I don't see any advantage to the MyIRA over a normal one unless you don't have a bank account
I buy government bonds directly from www.treasurydirect.gov)
There is no away the government can default on one of their bonds unless a political decision is made to default.
 

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Discussion Starter · #10 ·
JSH1 said:
There is no away the government can default on one of their bonds unless a political decision is made to default.
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So you believe the Government. Good luck.
 

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blind said:
JSH1 said:
There is no away the government can default on one of their bonds unless a political decision is made to default.
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So you believe the Government. Good luck.

All government bonds are issued in US dollars
The US government controls the supply of US dollars
The only reason a bond will not be paid is if someone chooses not to print the dollar to pay the bond.


I use I-Bonds for 1/2 for our emergency fund.
 

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Discussion Starter · #12 ·
JSH1 said:
blind said:
JSH1 said:
There is no away the government can default on one of their bonds unless a political decision is made to default.
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So you believe the Government. Good luck.

All government bonds are issued in US dollars
The US government controls the supply of US dollars
The only reason a bond will not be paid is if someone chooses not to print the dollar to pay the bond.


I use I-Bonds for 1/2 for our emergency fund.
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One bad scenario that I have read a lot of times is that the government printing money without restraint is the next chrisis.

The printing will inflate the dollar numbers to the point that the dollar will lose value and the value of goods will rise. The goods inflation price will compare to Germany and Argentina at thier worst. One forecaster described it as a helium balloon riseing until it pops, same with the dollar, it will go down in value and up in numbers until it pops and just disappears because no one will accept it any more.

The US has more debt than any country in the world and prints more dollars than other countries print thier currencies.
The bond and derivaties wash out will pull the rug out from under the worlds trust in the dollar.
 

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blind said:
The printing will inflate the dollar numbers to the point that the dollar will lose value and the value of goods will rise. The goods inflation price will compare to Germany and Argentina at thier worst. One forecaster described it as a helium balloon riseing until it pops, same with the dollar, it will go down in value and up in numbers until it pops and just disappears because no one will accept it any more.
That theoretical could happen. However, my statement that the feds will always pay their bonds unless they chose not to still stands. If the US dollar did have sudden rapid inflation that would effect everything denominated in US dollars. It wouldn't matter if you had a paper dollar, private CD, corporate bond, or government bond. Inflation is inflation. So the fear of inflation is no reason to avoid US government bonds. The inflation risk is the same for all bonds and every other bond has a risk of default.


blind said:
The US has more debt than any country in the world and prints more dollars than other countries print thier currencies.
The bond and derivaties wash out will pull the rug out from under the worlds trust in the dollar.
The US has more debt in nominal dollars than anyone in the world. It is also the largest economy in the world. (Unless you include the EU as one economy) As a percentage of GDP the USA's debt is lower than quite a few other countries and the USA has been more indebted in the past than it is today.

The US dollar is the world's reserve currency and makes up 61% of all global reserves. Of course more dollars are printed than any other currency.
 
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