> The government doesn't want you holding large amounts of cash. Government ownership of the interest rate is part of the problem. In a free market, an interes

> The government doesn't want you holding large amounts of cash. Government ownership of the interest rate is part of the problem. In a free market, an interest rate emerges naturally based on the supply of money from savers, and demand of money from consumers. Any individual divides their wealth into either saving or consumption based on their individual time preferences. Some people like stuff now, some people are happy to wait and have more later. Presently, we are forced to consume, or take on riskier assets to save. > Hoarding money is bad. Bonds and savings accounts aren't hoarding money; you loan the money out for other people to use productively, and they pay you an interest rate. > If you don't think T-bonds pay enough you're free to buy other bonds, equities, real estate, even gold if you like it so much. Again, you're failing to see the consequences of t-bonds having a low interest rate and the US dollar being unable to store value. The consequence are volatile and speculative asset markets. If over time no one wants treasury bonds or USD, they become valueless.