Financial Crisis

There is an interesting op-ed in China Daily that discusses and questions the U.S. dollar's status as the reserve currency of the world's financial system.

The author is EVP of the "China Center for International Economic Exchanges.

The author explains how the dollar depreciation that has occurred (97.2 percent against gold) since the collapse of the Bretton Woods system in the early 1970s "slowly steals the wealth of owners with dollar-denominated assets," and that "the recent financial crisis made some dollar-denominated securities vanish instantly."

The London School of Economics ("LSE") just published its report titled "The Future of Finance."

The report provides an in-depth analysis of the financial crisis and suggests an approach to reform the world's financial system.

The report is fairly lengthy and is produced from a UK perspective--the contributors came from the UK Financial Services Authority, the Bank of England and the UK Treasury.

A recent Wall Street Journal article (click here to read--subscription required) discusses

After the past week, I'm really starting to wonder why any retail investor would continue to tolerate the ridiculous danger and

Former L.A. mayor Riordan writes in the Wall Street Journal that it is a virtual certainty that L.A. will declare bankruptcy between now and 2014 unless fairly drastic reforms take place.