X-Message-Number: 20198
Date: Sat, 28 Sep 2002 10:20:27 EDT
Subject: safety of fiat money

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>Is it *possible* that the US Government would default on its notes, and 
Treasury notes and "T-bills" become worthless?  

  There have been several long periods when real return on T-bills was 
negative due to inflation. And of course if you take the average of all 
government's bonds, rather than just the ones that survived, over the last 
century you'll get a more negative return due to the many defaults (Nazi 
bonds aren't worth much now.). I'm not saying I have the solution, just that 
lots of diversification is desirable. It would be nice if cryonics was more 


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