Is now the time to own treasuries? Jim Cramer said no. With interest rates on treasuries so low, Jim Cramer says it is better to invest elsewhere. "The ownership of Treasuries is punitive. It really is burning a hole in your pocket at this point," Jim Cramer said.

While he said those invested in five-year treasuries will get their money back, there are better plays, such as a stock like

Western Gas

(WES) - Get Report

. "That's a very low risk, high reward stock," Cramer said.

The only reason to own treasuries, he said, would be if the relations between United States and Iran escalate toward war. Cramer prefers dividend stocks, which he says offer a better rate of return. "Even the most cyclical, not secular growth stories offer a better return than treasuries. Of course that stocks can go down and I know I can be mocked for saying that but I am just making a point," Cramer said. "I don't trust treasuries. I think that as even trying to invest cash for TheStreet, it has just been a nightmare."

At the time of publication, Cramer was long XXX.