Caveat Emptor: Why Investors Need to Do Due Diligence on U.S. Treasury and Related Securities
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Caveat Emptor: Why Investors Need to Do Due Diligence on U.S. Treasury and Related Securities
Now added to the 2018 Annual Wrap Up Web Presentation:
Caveat Emptor: Why Investors Need to Do Due Diligence on U.S. Treasury and Related Securities
~ February 18, 2019 ~
I. Introduction
II. Which Securities and Financial Assets Are Affected by FASAB 56?
III. The Rating Agencies
IV. Laws Related to U.S. Monetary and Fiscal Policy
V. FASAB 56: Recent Events Leading Up to FASAB 56
VI. FASAB 56: The Final Statement
VII. FASAB 56: What Is the “National Security” Information That May Be the Subject of Modifications?
VIII. Existing Securities Laws That Have the Effect of Reducing Transparency for National Security Purposes
IX. The Post FASAB 56 World: Who Can Help Assess Credit, Risks, and Price?
X. The Post FASAB 56 World: What Is the Federal Credit?
XI. Conclusion
XII. Links
XIII. Appendices A & B
Excerpt:
“In this article, we explain, with reference to other materials available on The Solari Report site, that it is no longer prudent for the investor to rely solely upon primary and secondary securities dealers, the U.S. rating agencies, and mandatory disclosure by issuers to accurately assess the risks and values of certain securities. While we encourage investors to do their own due diligence, we also recognize that FASAB 56 eliminates any hope that the investor will be able to obtain sufficient information to accurately assess the credit and value of his or her holdings of U.S. Treasury and other securities whose values are affected by Statement 56 (i.e., a meaningful percentage of U.S. public and private equity and debt securities). ”
Full article here.
16 Comments
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Catherine, the darkness of FASAB 56 is in direct contrast to legislative transparency an ex-Wall Street lawyer, Caitlin Long (https://caitlin-long.com/about/), has been pushing at the individual state level (eg., recently Wyoming). As I understand her work, it is to provide an alternative legal/financial framework to the wildly broken system you describe.
You might consider her work as a constructive initiative toward better alternatives … a positive force bringing light to darkness.
Thanks – will take a look.