The demise of the US Savings bond?

[Value Buy]

With Government shutdown coming in August, according to our President, I urge everyone to go thru your Bank safety vaults, sock drawers, boxes buried in the back of the closet, and find them now.
Time to cash them in before the President declares them valueless.

[Deleted]

Time to cash them in before the President declares them valueless.

My first thought was that Hopefully he will be out of office before he could do that.

My second thought is that the bigger danger is that he could destroy the value of the country which issued those bonds. I view that as the larger danger.

[Value Buy]

Jul 26, 2011 10:30:18 GMT -5 @oldtex said:

Time to cash them in before the President declares them valueless.

My first thought was that Hopefully he will be out of office before he could do that.

My second thought is that the bigger danger is that he could destroy the value of the country which issued those bonds. I view that as the larger danger.

Well, he has already scared the begeebers out of senior citizens on their social security, so he can easily declare them worthless by this Friday.
Glad I got everything together. Had more than I thought. Some are no longer paying anything, so they are history this afternoon.
Does that mean I am lowering the Federal debt, or adding to it?

[Value Buy]

Jul 26, 2011 11:45:36 GMT -5 @toughtimes said:

Sorry, a "default" means a delay in payment. It hardly renders the bonds valueless and in fact will probably result in higher interest payments to savers.

At any rate, just by cashing them in at the wrong moment you may easily be out six month's interest right there. So far as "not paying anything" are you sure? Who keeps bonds that long? It takes 30 years for savings bonds to reach final maturity and they could at one time be exchanged for "H" series bonds to keep them going longer.

My highly Democratic party orientated parents passed them on to their children.
My parents saved and saved, part of the depression era children, who knew an actual depression rather than a little recession

[BeenThere...DoneThat...]

...I might even buy some bonds if they raise the rates... but that would increase the cost of the national debt, huh? ...am I unpatriotic?

[ugonow]

If this default goes through, interest rates will skyrocket. Perhaps you should look at selling stocks instead,

Who will need bonds when we all will be in fema camps? Or pleading for our lives in front of death panels.Bonds are not needed in a communist society,maybe that is why Obama wants to destroy them......

[ugonow]

Of course it was. There is no pleading allowed in the death panels.

[Value Buy]

US Savings Bonds, to Fema death camps.........I think we can all agree that is a stretch. ;D