News & Analysis

Testimonials
  • 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.

    Richard J. Maybury
    Author, Editor of U.S. & World Early Warning Report

  • THOUGHTFUL NEWS, EXCLUSIVE INTERVIEWS

    I always read the Bell. The news items are thoughtfully selected, and the interviews are unavailable elsewhere.

    Doug Casey
    Bestselling Author and Founder of Casey Research Group

  • AWE INSPIRING

    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.

    Jeff Berwick
    Founder of DollarVigilante.com

  • SEPARATES WHEAT FROM CHAFF

    The Daily Bell is a true beacon to lead in helping the reader to separate the wheat from the chaff.

    Dr. Antal Fekete
    Author, Educator and Monetary Scientist

  • 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.

    Craig Huey
    Author, Small Business Owner

  • 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.

    Dr. Thomas DiLorenzo
    Professor of Economics, Loyola University Maryland

  • 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.

    Dave Morgan
    Author, Editor of Silver-Investor.com

  • OUT OF THE DARK

    The Daily Bell leads us out of the dark tunnel of manipulated press into the light of free press.

    John Perkins
    Bestselling Author

  • 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!

    Charles Payne
    FOX Business Analyst

  • EXCELLENT ANALYSIS

    The Daily Bell has a great libertarian point of view, and excellent economic analysis. Add it to your daily reading.

    Peter Schiff
    Chairman and Chief Executive Officer, Euro Pacific Capital

  • EXCELLENT RESEARCH

    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.

    Dr. Mark Skousen
    Author & Founder of FreedomFest

  • ESSENTIAL READING

    Liberty is under assault by Big Government. The Daily Bell is an essential tool for information for those who want to fight for freedom.

    Steve Forbes
    Chairman and Chief Executive Officer of Forbes Media

  • 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.

    G. Edward Griffin
    Author, Founder of Freedom Force International

  • 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.

    Gerald Celente
    Bestselling Author, Founder of the Trends Research Institute

  • 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.

    James Jaeger
    Telly Award-winning Filmmaker

  • 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

    Dr. Thomas Woods Jr.
    NY Times Bestselling Author & Senior Fellow, Mises Institute

  • 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.

    Alexander McCobin
    Executive Director of Students for Liberty

  • 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.

    Dr. Edwin Vieira
    Author and Constitutional Expert

  • SIMPLY TERRIFIC

    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.

    John Browne
    Former Secretary of the Conservative Defense and Finance Committees, UK Parliament

  • VERY INFORMATIVE

    I read The Daily Bell every day and I find it very informative.

    Marc Faber
    Dr. Marc Faber, Author, Publisher of The Gloom Boom & Doom Report

  • CONSISTENTLY SOLID

    The Daily Bell features consistently solid analysis of and thoughtful challenges to contemporary statism. I am proud to be on the team.

    Dr. Tibor Machan
    Author and Philosopher

  • INTELLECTUAL JOLT

    Sit down to read from The Daily Bell and experience a jolt of intellectual energy.

    Dr. Nathaniel Branden
    Psychotherapist, Bestselling Author

  • RECOMMENDED READING

    For alternative views on contemporary politics, culture and science, from a libertarian point of view, check out The Daily Bell.

    Michael A. Cremo
    Author, Vedic Archeologist

  • NEVER MISS AN ISSUE

    I love the Daily Bell. Every issue is principled and informative.

    Lew Rockwell
    Founder of the Mises Institute

  • 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.

    Jeffrey Armstrong
    Award-winning Author, Vedic Philosopher

  • 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.

    Bill Murphy
    Chairman of Gold Anti-Trust Action Committee

  • 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.

    Rick Rule
    Founder of Global Resource Investments Inc.

  • INDEPENDENT

    Get outside the box with The Daily Bell and experience independent views.

    Paul Craig Roberts
    Author, Former Assistant Secretary of the Treasury in the Reagan Administration

  • COURAGEOUS REPORTING

    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.

    Ron Holland
    Author & Monetary Analyst

  • INDISPENSABLE INFORMATION

    The Daily Bell is an indispensable source of news and information for those seeking to curtail the power of the welfare-warfare state.

    Dr. Grant Havers
    Chair, Department of Philosophy, Trinity Western University

  • REFRESHING

    I enjoy reading The Daily Bell because it often has refreshing and novel ways of looking at things.

    Bill Bonner
    Bestselling Author, Founder of Agora Publishing

  • POWERFUL INSIGHTS

    I consider The Daily Bell essential reading for anyone desirous of understanding the way the world really works.

    Lord William Rees-Mogg
    Author, Former Deputy Editor, Financial Times

  • FANTASTIC SOURCE

    The Daily Bell is a fantastic source of challenging thought from a wide range of freedom loving people.

    Dr. Joel Wade
    Author, Psychotherapist and Life Coach

  • 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.

    Dr. Hans Herman-Hoppe
    Author, Economist and Libertarian Philosopher

  • EXCELLENT PERSPECTIVE

    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.

    Frank R. Suess
    Chairman & CEO of BFI Capital Group Inc.

  • 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.

    Catherine Austin Fitts
    Former Assistant Secretary of Housing and Federal Housing Commissioner

  • 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.

    Nelson Hultberg
    Author, Director of Americans for a Free Republic

  • 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.

    Dr. Richard Ebeling
    Author, Professor of Economics at Northwood University

  • PART OF MY DAILY NEWS DIET

    I read it every day!

    Jim Rogers
    Bestselling Author, Co-founder of the Quantum Fund

  • 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!

    Jeffrey Tucker
    Author, Executive Editor of Laissez Faire Books

 

Subscribe now to start your FREE email subscription to:

The Daily Bell Newswire

By subscribing, I confirm that I have read the privacy policy and the terms of use policy in its entirety and I understand and accept these terms.

 

 
EU's Plight: Sadism or a Cold-Blooded Takedown?

Who will stop the Sado-Monetarists as jobless youth hits 58pc in Greece? Greek unemployment rose to 25.4pc in August. Youth unemployment rose to 58pc. Under the official forecast, the economy will contract by a further 4.5pc next year, so it fair to assume that lots more people are going to lose their jobs. It is certainly not going to improve in any meaningful way for years to come. This is what happens when you lock into the wrong currency and block the escape routes – or join a "burning building with no exits" in the words of William Hague. – UK Telegraph/Ambrose Evans-Pritchard

Dominant Social Theme: The collapse of Europe is as unavoidable as it is unexpected.

Free Market-Analysis: Ambrose Evans-Pritchard has recycled a name originally applied to Margaret Thatcher for Brusells's Eurocrats. He calls them "sado-monetarists" – and this is an apt term for those administering monetary poison to the Greeks.

But is Europe really collapsing in order to satisfy the emotional needs of a few corrupt Brussels Eurocrats?

For Evans-Pritchard, the answer seems to be "yes." It is more complicated than sadism, of course. In fact, Evans-Pritchard is apt to lay the blame on insecurity. Brussels cannot admit it was wrong about the monetary union.

We tend to believe that Evans-Pritchard, like other sensible, mainstream journos, understands the reality behind current Brussels actions. Interestingly, then, he cannot bring himself to state it.

It is a kind of subdominant social theme of sorts: That the elites are inflicting such pain on Europe to accommodate their own insecurities. Here's an explanation from Evans-Pritchard's own newspaper that we quoted way back in June as the basis for an analysis entitled, "The EU ... Not So Beneficial After All, but Certainly Hypocritical": 

The EU's 'beneficial crisis' has spun out of control ... 'Europe' expected to be united through emergencies, but this one will tear it apart ... As long ago as 1957, Jean Monnet – who was the real organising genius behind the gradual building of "Europe" into a single, unified state – suggested that it was only through monetary and economic union that the "political union which is the goal" could be achieved. "There are no premature ideas," he wrote, "only opportunities for which we must learn to wait."

By 1970, Monnet's ideas were being fleshed out by the Werner report, which saw monetary union as the key step towards political union. But in 1978, another report for the European Commission, by Sir Donald McDougall, warned that it would be reckless to create a single currency unless Europe was first given an all-powerful government, with the power to tax, and to make a massive transfer of resources from the richer states to the poorer.

In the 1980s, though, that other great integrator Jacques Delors (second only to Monnet in his influence on the drive to European political union) decided to ignore the advice of McDougall and others and to launch the single currency without the suggested preconditions. To move straight to fiscal union, he knew, was not on the cards. But if the single currency was put in place first, it would create exactly the kind of strains which had been foreseen – making fiscal union the only way out.

At the time, we called the EU exercise, especially the euro, "an exercise in cynicism." The idea was to implement a currency union, we explained, "which would then collapse and usher in a full-fledged political union. First an economic calamity and then a political salvation ... Hundreds of millions traded in their national currency for euros that were designed to fail. They were SUPPOSED to fail."

We pointed out Europe is in flames and that bread lines in countries like Greece were getting longer and longer. People were even setting themselves on fire. How is this a "beneficial crisis"? And we added, "The breadth of the cynicism of Europe's original founders is matched only by the depth of the current disaster. The smugness is breathtaking."

Evans-Pritchard's take (today anyway) is that EU policy is ideological. But obviously it is not. Why doesn't Evans-Pritchard, one of the best British newspapermen of his generation, admit it? Instead, he writes the following:

We all know the reason why this is not being done. The ideologues running monetary union cannot bring themselves to contemplate any step back in the Project, just as they would not admit yesterday in the Commission's economic report that they have gravely misjudged the effects of fiscal tightening (the fiscal multiplier) and have therefore miscrafted their entire austerity strategy.

We are not dealing with rational people. We are dealing with a religious order, and these monks are becoming an increasing danger to Europe's societies and democracies.

Margaret Thatcher's advisers were tagged Sado-Monetarists in the early 1980s but they never inflicted anything remotely close to this level of suffering. The strange silence of the Left on this is baffling.

Sooner or later my Fabian friends will have make up their minds whether they are for the workers, or for the "bankers ramp" — as old Socialists like Peter Shore used to describe monetary union.

The Draghi Put has lifted the immediate financial threat, but this makes matters worse. The drip-drip of ugly economic data continues each day. The deeper structural crisis is still getting worse. Loan demand has crashed 50pc in Italy and France. Spain's unemployment is 25.8pc and may reach 30pc next year.

Yet there is no longer any immediate catalyst or external umpire in the markets that can bring this mass civic abuse to an end. Unless the Bundestag comes to the rescue by refusing to pay for any more can-kicking, we may have to wait until internal devaluations in the Club Med bloc push jobless rates to such excruciating levels that the political system snaps.

What is going on is a kind of "directed history." Every part of this unrolling catastrophe seems to have been plotted out in advance. In "Evolution of the IMF Is Directed History," we wrote about it. You can see the article here: "Evolution of the IMF Is Directed History." 

We pointed out that those behind what is today the EU likely intended for it to fall apart. They knew it would. They had to know because they had built their financial institutions and knew what they were capable of.

Central banking always implodes – cyclically. There had to be a financial disaster in Europe sooner or later given the creation of a European central bank and Europe's tethering to the euro.

We also recall the enthusiasm with which various banks offered funds via government and how the funds were wasted or stolen. The idea has been that funds were offered out of greed. This is nonsense. The big banks surely knew what they were doing, as well as the ramifications.

No one ever thinks to explore WHY Western banks offered Greece and other countries so many billions, eventually forging the sovereign crisis.

Anyone looking at the situation logically could have predicted the outcome. The only logical conclusion is that the officers of these large commercial banks had some level of certainty that they would be paid back.

They would be paid back, we can surmise, because of the EU mechanism that would utilize commercial bank lending as a trigger to tighten a political union that would in turn allow a continued bailout.

It all fits together. Not only that but also this system is the one that entraps developing countries. Once they take their World Bank loans and dissipate the funds, the IMF comes in and insists on austerity measures, higher taxes and fewer government services.

The IMF, in other words, or the IMF system, is being imposed on Western countries. First, bankrupt the nation by lending to corrupt politicos and then come in with the IMF to insist on austerity.

This was a cold-blooded takedown. To insist otherwise, to make up terms like sado-monetarism, is to miss the point. Those in charge of the euro have manufactured the crisis. They said they would!

It is hard to fathom this sort of cruelty. People are dying in the PIGS due to Brussels's austerity. Did they really expect this to come to pass?

Yes, they did. We are confronted again with Money Power's implacable and merciless rigor. These people started two world wars in the 20th century to build globalism. They were apparently willing to sacrifice Europe to renew globalism's reach.

Conclusion

And now they are willing to sacrifice Europe's PIGS to refresh the progress of the EU toward a superstate. This neo-empire will be built on the suffering of millions.

Rate this article:

Total Ratings: 0 - Average Rating: 0.0

Books by Anthony Wile
Financial
Freedom

The High Alert Way to Discover Winning and Profitable Investment Ideas

Free Download   Order Now

The Best of
Anthony Wile

Select Editorials & Exclusive Interviews As featured at TheDailyBell.com

Free Download   Order Now

High
Alert

How the Internet Reformation is causing a financial hurricane - and how to profit from it

Free Download   Order Now

The Liberation
of Flockhead

A modest, monetary fable

Free Download   Order Now

Who We Are

The Daily Bell is published by a dedicated team of experienced researchers and writers who utilize Anthony Wile’s VESTS model to analyze sociopolitical, economic and financial information from a free-market perspective, debunking mainstream media memes and providing insights and analysis derived from business cycle analysis that yield timely insights into profitable investment trends.

 
Sign Up for our FREE Newsletter

Subscribe now to start your FREE email subscription to
The Daily Bell Newswire.