So many are going to cash, exchanging bond funds for MM settlement funds, buying ST Treasuries and creating TBill ladders, recommended in various financial forums, so in one sense citizen taxpayers are either contributing to the liquidity problem or funding the rescue. Repos are now a percentage in MM funds which is new (eg VMFXX)
The typical person may not understand the reasons for crisis, but they notice government tends to lurch from crisis to crisis. Does government then deserve more of their money?
Fractional reserve banking is an intrinsically dishonest enterprise, and we made it much worse in March of 2009, when we effectively legalized accounting fraud by the banks.
Like Brad Pitt said in The Big Short: save seeds.
Do you have any advice on how best to protect our $?
So many are going to cash, exchanging bond funds for MM settlement funds, buying ST Treasuries and creating TBill ladders, recommended in various financial forums, so in one sense citizen taxpayers are either contributing to the liquidity problem or funding the rescue. Repos are now a percentage in MM funds which is new (eg VMFXX)
Seems to me they're just bailing out the big money players and silicon valley elites...and will not do the same for the rest of the commoners.
The typical person may not understand the reasons for crisis, but they notice government tends to lurch from crisis to crisis. Does government then deserve more of their money?
Fractional reserve banking is an intrinsically dishonest enterprise, and we made it much worse in March of 2009, when we effectively legalized accounting fraud by the banks.