I was just looking at my Vangard sweep account. They use VMFXX which a Federal Securities MMF paying pretty well. Schwab, on the other hand, does use a cash deposit account of some sort that is currently paying about .45%.
I am not sure of how these accounts will work in a crisis. I'm not worried about getting my money out in the short term. I would just like to be able to exchange to equity index ETF's after a big drop off - if one occurs.
All my strategy to not be a bag holder if somehow the wheels come & we go down some illogical road could end up being balderdash. If a treasury bill note or bond holder gets stiffed wouldn’t they have a legal claim to some government asset? The practicality of that would be awkward but don’t get something from the bankruptcy court? Say that’s a nice tank you have there