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Mar 12, 2019 at 17:21 comment added JimmyJames @jamesqf Exactly right. I considered delving into that as another way that 'risk-free' is about default, but not risk-free in terms of value loss. I decided against it but definitely a salient point.
Mar 12, 2019 at 17:05 comment added jamesqf But if the government prints more money, it lowers the value of each dollar, which means that even though you get the stated $X for your T-bill at maturity, you can buy less with it than you expected to be be able to.
Mar 12, 2019 at 14:25 history answered JimmyJames CC BY-SA 4.0