An important lesson of the current economic crisis should be that it is not always wise to depend on rating agencies and commercial providers of financial data to do investment research for you. Standard & Poor’s, Moodys, Bloomberg, Fitch, Thompson, and Morningstar: That’s pretty much the list of companies that deliver financial information […]

The rest of the world holds $16.9 trillion in dollar financial assets, and China owns a large, although indeterminate, portion of these assets. With Nancy Pelosi, Chris Dodd, Barney Frank, and Harry Reed having taken over monetary policy from a weak, inexperienced President Obama and with the Democrat-controlled Congress freely enacting highly inflationary spending programs — […]

Despite remarks of Chinese officials and offhand comments of the US Treasury Secretary, the Fed flow of funds accounts for Q4 2008 indicate that the US Monetary Authority acted, in fact, like a world central banker, supporting the dollar as the primary international reserve currency. First, public funds used to support AIG were allowed […]