I too have moved much of my funds into 1-month and 3-month T-bills. If you are a US person I think the risk is about as low as one can get. Jim has discussed some of the ways that non-US persons can be mis-treated and I won't repeat them. The current sell-off in the bond market is causing long-term rates to go up, which is bad for the USG and those attempting to re-finance debt, but as the 3-month bills are renewed their price will respond to changes to the yield curve. If you could get by putting funds into FDIC-insured bank account(s) that might be a skosh more safe, but you are limited to $250k per SSN per account, which may not be enough to protect all your assets. If we get into a hyper-inflation situation then maybe converting dollars to (mumble) makes sense, but which other currency? It is a scary new world.

Rgds,
HH/Sean