Usually workers focus on a niche or two now at days.The preambles to Treasury Regulations usually explain the writers methodology and what they're trying to accomplish. 

Material participation by one spouse is attributed to the other for purposes of the passive activity loss rules under Treasury Reg §1.469-5T(f)(3).Agree with Ashish, it seems your CPA is mistaken. 

It’s better than bonds or treasuries.

Short term ETFs that holder treasuries are really good as well.

Does the treasury just go into debt to the FED and then print or otherwise digitally create the currency?

Other than that, you should have some equities, treasuries (look at TIPS), bonds, precious metals and other commodities (maybe through ETFs) and of course some cash that you can move around to take advantage of opportunities.

The euro has it's own problems obviously, but it is one simple way to analyze.It can also be measured by treasury note yields and how other countries use it for safety, but that is difficult.

Typically they allow you to borrow about 50% against US equities, 70-80 % bonds and 80-95% on US treasuries.

Frankly, I'd be scared to buy 30 yr treasuries.

10 year treasuries are under TWO % last time I looked.