How can a market in which a government constantly intervenes always be right? Zero Hedge is at the forefront of documenting what government and central bank intervention does to markets.

This sounds like Keynesian editorializing. Market rates are what they are. The market is always right. If money-market rates increase it can only come from increased demand or decreased supply. If borrowers need "liquidity" and cannot get it (at the rate they want), then that is a market signal. I hate to say it, but a lot of this "Zero Hedge" stuff seems far outside the Austrian norm. "... (with liquidity needs growing more and more evident as Chinese money-market rates surge)..."

Is that a lot? The FED printed that much phony money every month. I still think the biggest problem with China is honesty. If we can't trust the numbers our government is reporting then how close are theirs?