Dear Vanguard,
I am not happy that my Vanguard brokerage sweep account is being moved from VMSXX – Tax-Exempt Money Market – into VMFXX – Federal Money Market Fund.
I suspect that the true intent of this 'regulation' is to force folks to buy what will, eventually, be worthless treasury notes.
Given the United States governments horrifying deficits, the crushing debt load, and the congress inability to stop spending money we ain't got . . . well, the future does not look good and I do NOT want to find myself holding the paper when it goes.
We have not enough folks working in America. Energy policies that are causing electricity shortages and higher prices – putting American manufacturies out of business. The American middle class is on the endangered species list.
If 'We' want to turn things around America's corporations need to make an honest, accurate, appraisal of what is going on and force the government to return the concepts of America's Constitution. (Limited federal government for starters).
For example, if we really want to save the planet from the man-made global warming the answer is pathetically simple. Instead of wasting tens of billions of dollars on charlatans trying to make 'green energy' work 'We' should have opened Yucca Mountain. (Instead of making liar loans to sham green energy companies, we should have made low interest loans to very large power companies that can and will pay the money back to build new nuclear power plants. With lots of relatively cheap nuclear watts we could power American manufacturies and have lots of good paying jobs.)
But, I digress.
From what I've read, the reason they want my money in treasuries, is because they are worried that the rich and infamous will 'front run' the money markets – selling out before they become worth less than a buck. Then they are going to force all the other money market NAV's to float . . . and they will remove wash sale rules from these 'floating NAV money markets'. Surely you are not so stupid as to see that 'they' are going to create the very problem 'they' are pretending to be preventing?
This has me seriously considering closing my brokerage account. I like having Coca Cola and the other stocks I have in it . . . . but I can live without a brokerage account and I do not like the way this is going.
Mad Poet Strikes Again.
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