>QE, interests rates at near zero, corporate bonds near worthless, stock market at stratospheric 2000-like levels... To be clear, the above is good, if interes

>QE, interests rates at near zero, corporate bonds near worthless, stock market at stratospheric 2000-like levels... To be clear, the above is good, if interest rates on government paper were above risk adjusted market returns for new capital this would gridlock the economy. Stock market being high incentivizes creating new capital. > how do you protect your treasury other than stashing it in hard assets (crypto, gold, commodities)? The government should not create artificial assets that "protects" wealth from being subject to the real economy because people divesting from the economy destroys the economy. Now there is a question whether the market will choose to go into crypto and divest from the real economy anyways. The reason this is a question is that people have been known to pile into bubbles in the past, and this is the tricky part, on some level they are not totally irrational in doing so. To the individual, being early in a long running bubble is advantageous. When you do it, and do it first, you gain. Everybody doing it however, may cost you and your friends, family's and everybody's careers. It's a prisoner's dilemma, a bad Nash equilibrium. It's Moloch.