not as a trade however for you own personal port... sounds interesting or more a political issue than an investment issue???
i was hoping this would be the place... i guess not... heres a search i did on google... http://www.google.com/search?hl=en&lr=&ie=UTF-8&oe=UTF-8&q=investing+war+bonds
I don't know about war bonds, but ibonds are not so bad since they are inflation adjusted so there is no way you can lose your principal.