Bill Fleckenstein, here, who advocates government guaranteed debt instruments maturing in a year or less, or FDIC insured cash accounts:
For the risks associated with [big money market funds], investors are getting paid a whopping one basis point (0.01%, or one one-hundredth of 1%). ...
The point in all of this is that because no one is being compensated no matter where they put their savings, there is really no point in taking any risk at all. Thus, it probably makes sense for those who can to shift their holdings to Treasury bills.
