News Analysis


    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


    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


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

    Lew Rockwell
    Founder of the Mises Institute


    I read it every day!

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


    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


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

    John Perkins
    Bestselling Author


    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


    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


    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


    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


    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


    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


    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


    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


    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


    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.


    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


    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


    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


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

    Dr. Nathaniel Branden
    Psychotherapist, Bestselling Author


    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


    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


    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


    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


    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


    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


    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


    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


    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 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


    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


    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


    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


    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


    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


    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


    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


    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


    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


    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.


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.


Gold Goes Up?

Gold offered a flutter of excitement to participants yesterday, climbing above the $1730 mark as the US trading session opened, marking a tentative improvement in sentiment towards the yellow metal, although its close at $1735 was certainly no game changer. Much hesitation still lingers and this was clearly reflected in the lack of follow-through interest. The gold market continues to look to external factors for direction, with yesterday's rally helped by a stronger euro and general risk-on sentiment following positive Eurozone headlines. – UBS Daily Newsletter

Dominant Social Theme: Gold is a punctured bubble.

Free-Market Analysis: Since 2001, we've held that the Western world – the world, really – is in a precious metals bull market. Just like the bull market of the 1970s, this will end in a tremendous blow-off that will leave some speculators very wealthy.

Business cycles in the modern era tend to fluctuate between fiat and precious metals. The simplest explanation is that the economy grows so distorted from fiat money injections that eventually businesses start to collapse and stock markets begin to reflect the over-bought reality of the economy.

This is what happened in the late 1960s and in the early 2000s. The pattern is clear. The "Nifty Fifty" craze collapsed in the early 1970s. The "tech boom" collapsed in the early 2000s. In both cases, the retrenchment that arrived came in the form of capital flight to precious metals.

Gold has appreciated around sevenfold since then and silver about tenfold. It seems fairly clear if one accepts the reality of such business cycles that gold and silver will continue to rise relative to paper currencies until a "blow-off" point is reached. We are probably nowhere near that point yet. Here's some more from the article:

Gold's relatively quiet consolidation phase of the last couple weeks is also well reflected in the options market, with volumes continuing to ease and hover at the year's low, amidst light liquidity. A break of the current range is much-needed to breathe life into the options market, with the $1750 and $1690 levels being eyed as the likely trigger points ...

Although gold sentiment remains positive, its on-going positive correlation with risk assets has made participants more cautious about transforming their gold views into trades. Gold's 20-day rolling correlation with the S&P500 Index has eased from the 0.79 high in early October, but levels are still quite elevated by historical standards.

Then there is also the uncertainty coming from Europe, with the next tranche of Greece's bailout programme yet to be confirmed and disbursed. Broadly speaking, Eurozone issues have slipped to the background of late, with the consensus that the situation will remain benign for the remainder of the year. But the potential for negative surprises, albeit considered relatively low at the moment, still adds to cautiousness in that gold's correlation with the euro has remained quite strong since October last year.

At this point, a lot hinges on whether gold can break out of this recent range. A break through key resistance levels would likely be the next important trigger to get buyers to pull the trigger. Then momentum, technical and options traders will be incentivised to jump back into the market.

This article is optimistic about gold's value relative to currencies, but it doesn't get at the larger issue, which is how and why fiat currencies operate the way they do.

Not only that, but it doesn't explain the length of the current business cycle. The 1970s golden bull lasted some ten years. This golden bull seemed destined to run for 15 years because the economy was even more distorted than before.

But central banks and other authorities have reacted so violently against the deflation of fiat distortions that this fiat-bear market seems destined to stretch far longer than that. In fact, we calculate that central banks have dumped in aggregate some US$50 trillion into the marketplace in the past few years.

This kind of unheard-of interference is stretching out the current cycle in ways that were previously unanticipated. There are all sorts of methods, in fact, to prevent the cleansing purchase of metals while attempting to sustain the value of paper money. In the second half of its daily update, UBS mentions one such move, as follows:

RBI Gold Development ... The Reserve Bank of India has directed that "no advances should be granted by banks against gold bullion to dealers/traders in gold if, in their assessment, such advances are likely to be utilised for purposes of financing gold purchases at auctions and /or speculative holdings of stocks and bullion".

The RBI highlights the significant rise in gold imports in recent years as a "cause for concern". Specifically, this directive states that "no advances should be granted by banks for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold ETF and units of gold mutual funds".

... From our initial conversations with locals, the target of this new policy is the speculative element of the Indian gold market, with a particular focus on those trading on exchanges including ETFs. And so, the immediate outcome will likely be a drop in trading volumes on the local exchanges ...

All in, this highlights that gold still remains quite the headache for the RBI as they try to battle with their sizeable current account issues ...

Additionally, the Ministry of Finance is exploring the introduction of a gold accumulation plan (GAP). The target here is households who typically pool savings into physical gold. Instead through a GAP gold futures would be purchased which can be later sold or exchanged for coins/bars ...

The idea that gold will be held in paper form will be a challenging concept for many. Nevertheless, there is still the potential for the plan to gain some traction among the more sophisticated investors who are more open to alternative and new types of gold investment. This segment represents a much smaller portion of India's gold market and in a nation that has a strong cultural link to the physical metal, this type of savings plan will likely encounter much resistance.

To say this plan will encounter resistance is probably an understatement. Indians in particular understand the value of gold and silver and tend to keep their valuable investments close to them by wearing them on their persons.

Indians, like Asian populations, have long experience with governments and devaluations. The current cycle probably looks no different to many with cultures that have experienced previous monetary disasters.

And it IS a disaster of sorts. Of course, we have our suspicions it remains a kind of directed history. The current fiat depression is MEANT to be, created by a power elite that wants a broad-based financial catastrophe. Out of such a situation may come suggestions for a global currency, and perhaps its implementation.


In the meantime, we would tend to believe that gold and silver have a long ways to travel. The end of this cycle is by no means in sight.

Rate this article:

Total Ratings: 0 - Average Rating: 0.0

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.