-Graybeard said:I can't watch that idiot. What is a MYRA?
blind said:-Graybeard said:I can't watch that idiot. What is a MYRA?
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.
-JSH1 said:blind said:
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.
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 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 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.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.