When you receive a "risk-free rate" for holding Treasury bonds, you are receiving stolen money.

The government pays interest on what it borrows by borrowing MORE money. It pledges the future earnings of people as cash flow. This is theft of buying power (through inflation) from anyone who holds cash!

The government bonds are considered "risk-free" because the worst-case scenario is that more money is printed to pay off debts if the gov can't borrow more.

In a scenario where the fiat money hyperinflates, your "risk-free" bonds will be paid back with truly worthless money.

Bitcoin shows us that there is no risk-free reward

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