Risk is uncertainty. 

Therefore,  has no risk. It’s 100% certain. 

❌ INFLATION

❌ COUNTERPARTY

❌ SOVEREIGN 

❌ LIQUIDITY 

❌ TAXATION

❌ ACCOUNTING 

BONDS ARE EXPOSED TO ALL OF THESE (EXCEPTY LIQUIDITY).

$120 TRILLION OF 💀 MONEY. @FossGregfoss