GUTS, OBJECTIVITY, WISDOM
Rarely does a publication have the guts and objectivity to tell it like it is, yet the eloquence and wisdom to listen carefully to the ‘other side.’ This is The Daily Bell accomplishing its daily mission.
There is no other publication in print or on the Internet like The Daily Bell. They have the courage to report the truth and analyze current foreign policy, politics and economic events in the context of a formerly hidden history of financial elites.
The Daily Bell is one of the most innovative and in-depth websites on the Internet. The breadth of the content is awe inspiring and the amount of knowledge imparted is almost impossible to quantify. For me, as a liberty minded seeker of knowledge, it is a must read.
NEVER MISS AN ISSUE
I love the Daily Bell. Every issue is principled and informative.
I enjoy reading The Daily Bell because it often has refreshing and novel ways of looking at things.
GREAT JOB, DAILY BELL
I can say that, unlike the mainstream press, The Daily Bell knows the questions to ask and has the chutzpah to ask them. They realize that socialism and Keynesianism are wrecking the world and they are helping to save what is left of liberty and free markets.
A VIRTUAL WHO'S WHO
The good and the bad, the big dogs and the small, the thinkers and the doers among libertarians and on the "Right" – you can encounter them all in The Daily Bell's exclusive weekly interviews. Indispensable.
A MUST-READ FOR EVERYONE
The Daily Bell is a must-read for anyone who wants to understand the effects of the state on our economic future.
The Daily Bell is an indispensable source of news and information for those seeking to curtail the power of the welfare-warfare state.
Sit down to read from The Daily Bell and experience a jolt of intellectual energy.
THE DAILY BELL IS A MUST-READ
Because the world is changing so rapidly, it is difficult to keep up, which means The Daily Bell is a must read. I consider the information critically important reading.
A LEADING LIGHT
The future is created by the people who build it, not the people who predict it will not exist. You can meet lots of important builders by reading The Daily Bell.
The Daily Bell is a fantastic source of challenging thought from a wide range of freedom loving people.
Liberty is under assault by Big Government. The Daily Bell is an essential tool for information for those who want to fight for freedom.
PREMIER FREE-MARKET ANALYSIS
The Daily Bell rings out for liberty every day. It is the premier online source for insightful and hard-hitting free-market analysis and interpretation of economic, political and business events.
I consider The Daily Bell essential reading for anyone desirous of understanding the way the world really works.
MESSAGES OF TRUTH
The Daily Bell website is one of the authentic voices cutting through the clouds of vapid opinion, the morass of mediocre media and the confusion of Orwellian doublespeak. The Bell website lives up to its name, ringing unheard messages of truth in our ears.
Get outside the box with The Daily Bell and experience independent views.
INFORMATIVE SOURCE OF INFORMATION
The Daily Bell is an informative source of information and commentary from leading figures in the liberty movement. It's a pleasure to be interviewed alongside far more notable individuals.
The Daily Bell has a great libertarian point of view, and excellent economic analysis. Add it to your daily reading.
INSIGHT YOU CANNOT IGNORE
The Daily Bell provides unique insights on contemporary political, economic and social problems that can be found in such a concentrated form nowhere else. Whether one agrees or disagrees with it, one cannot afford to ignore it.
READ IT EVERY DAY
A defender of free markets, The Daily Bell takes a libertarian approach to expose and unravel global misinformation. Read The Daily Bell – every day!
The Daily Bell does a remarkable job of exposing how money power uses central banking to crush people into submission via global government with economic and political slavery being the desired end result.
The Daily Bell features consistently solid analysis of and thoughtful challenges to contemporary statism. I am proud to be on the team.
SOURCES YOU CAN TRUST
The Daily Bell should be on everyone's shortlist of news sources you can trust. It's on mine, and we often refer to it in our own weekly news service at The Reality Zone.
For alternative views on contemporary politics, culture and science, from a libertarian point of view, check out The Daily Bell.
I really enjoy reading The Daily Bell for the excellent research and content provided on a wide variety of issues vital to the Freedom Movement.
SEPARATES WHEAT FROM CHAFF
The Daily Bell is a true beacon to lead in helping the reader to separate the wheat from the chaff.
I read The Daily Bell every day and I find it very informative.
PART OF MY DAILY NEWS DIET
I read it every day!
GREAT INVESTMENT INFORMATION
I love reading The Daily Bell! Interesting investment information, a political and social viewpoint that lets me know I'm not alone in the world and "annotated" with analysis. I highly recommend it to all interested readers.
TRUTH AT WORK
There are very few publications out there that have the smarts and guts to tell the truth about the dictatorial forces at work destroying our civilization. Thankfully The Daily Bell is one of them, and it appears in the mailbox every day.
The Daily Bell affords an excellent alternative perspective on some of the noise and nonsense of mainstream media. In particular, I enjoy reading Anthony Wile's 'free-market analysis' on current subjects and articles. Very insightful.
CUTTING EDGE ANALYSIS
At a time when growing majorities worldwide are tuning out mainstream news, people are seeking the cutting edge, insightful and thought provoking analysis that The Daily Bell consistently provides.
VOICE OF REASON
I have thoroughly enjoyed the analysis and interviews at The Daily Bell, which has so often been a voice of reason during these perilous times
THOUGHTFUL NEWS, EXCLUSIVE INTERVIEWS
I always read the Bell. The news items are thoughtfully selected, and the interviews are unavailable elsewhere.
AHEAD OF THE CURVE
The Daily Bell has come out of nowhere to introduce to the Internet community some of the most intriguing and proactive interviews there are out there. Let's hear it for creativity and being ahead of the curve.
GREAT THINKERS YOU CAN'T GET ANYWHERE ELSE
The Daily Bell has revived that great old institution of the personal interview, extracting information from today's great thinkers you can't get anywhere else. Outstanding!
OUT OF THE DARK
The Daily Bell leads us out of the dark tunnel of manipulated press into the light of free press.
PROFOUND AND PROVOCATIVE
Every day, I rely on the Daily Bell for a different perspective you'll never find in the regular media. It's an analysis and timely insight that is profound and provocative.
EU Financial Tax Portends Loss of Market Leadership
January 30, 2013
Editorial By John Browne
Although it was barely noticed by the American press, on January 22nd, EU finance ministers approved a new "Financial Transactions Tax" (FTT) that has implications for market competitiveness around the world.
The move was conceived as a Franco-German initiative and was supported by seven other EU nations, including the entire bloc of highly indebted southern tier nations, to reach the minimum nine nations required to press ahead under the EU's so-called 'enhanced co-operation procedures'. If at least one of the transacting parties involved is an EU resident, the tax will impose a one-tenth of one percent tax (on both sides of a financial transaction) on secondary market trades in equities, bonds, securities and REPOS. Derivatives will be taxed at a lower one-hundredth percent.
Although limited presently in scope and at an apparently low rate, the tax will nevertheless provide an extra layer of financial bureaucracy that will dissuade some market participants from transacting in the Eurozone. It should be patently obvious that transactional fluidity is supportive of efficient markets and ultimately of economic growth. It is only in the poisonous, anti-capitalist, post-crisis environment that such a measure could be passed. More importantly, the measure is a "supra national" tax that helps to pave the way towards a global taxation system. Not only will such a system be economically damaging but it will be devoid largely of effective democratic accountability.
In its March 2011 tax meeting in Brussels, the EU had originally proposed a "Financial Activities Tax" (FAT), a more comprehensive, and potentially more destructive, EU-wide measure. The opposition to the tax was so fierce, most notably from Great Britain, that the FTT was proposed as a compromise.
Ignoring the role of the central banks in the financial debacle, the German Finance Minister commented lamely that, "The financial sector must appropriately participate in bearing the cost of the financial crisis." According to the EU's Tax Commissioner, Algridas Semeta, the FTT decision was a "major achievement for EU tax policies." Those who believe, as I do, that the EU's covert intent is to erode the traditional independence of the world's financial markets, particularly the dominance of London and New York, certainly share those sentiments.
In an economic impact analysis running to over 1,000 pages, the EU Commission estimated that the FTT would raise $76 billion annually. The commission admitted that this would cause a 10 percent drop in securities transactions, a 70 percent fall in derivatives trading and result in a loss to the EU's GDP of some 0.53 percent. All this in an EU economy struggling now to prevent a recession falling into a depression! Of course, the Commission failed to consider any resulting lost tax revenues implied by a fall in GDP.
On its face, it was clear that the idea for both the FAT and the FTT was a product of left wing ideology of soaking the so-called rich, but devoid of any real understanding of how free markets operate.
If such a tax were imposed in a single country market, in the UK for instance, it would encourage a massive flow of business to other national markets. The EU must feel that its size and status will protect it from such an eventuality. Few suspect that the FTT will offer economic benefits that would outweigh the harm it will impose. But that is not the criteria by which the measure will be judged by EU leadership. What if FTT is designed not as a tax to encourage more responsible investing, but as a covert weapon to win political control of Europe?
FTT is a supra national tax imposed on top, and independent of, national financial taxes. Once the infrastructure to enforce and collect the tax is established, the tax rates can be raised relatively easily. Most importantly, once such supra national taxes are established, they suffer from very little if any democratic supervision.
EU Tax Commissioner, Algirdas Semeta, has said that the Commission has arrived at a means of levying a tax that prevents investors from relocating. The tax will be imposed on both the buyer and the seller of a financial instrument so long as either of the two parties is based within any participating EU country. This means that even investors in London or New York accustomed to paying only their domestic taxes may not escape the new tax completely.
At a time when governments should be encouraging the free flow of capital, this measure moves us exactly in the wrong direction. Combined with the heightened regulatory scrutiny in the United States (President Obama's appointment last week of the first former federal prosecutor to head the Securities and Exchange Commission), the move bolsters the belief that the West will likely cede financial market leadership to the freer and more vibrant markets in the Pacific.