News Analysis


    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 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


    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


    I read it every day!

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


    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


    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 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


    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


    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


    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


    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


    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


    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


    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 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


    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


    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


    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 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


    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


    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


    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


    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 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 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


    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


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

    Lew Rockwell
    Founder of the Mises Institute


    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


    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 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


    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


    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 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.


    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 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


    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


    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


    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


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

    Dr. Nathaniel Branden
    Psychotherapist, Bestselling Author


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.


Bernanke's Banking Misdirection

Ben Bernanke tells EU to clean up banks ... Federal Reserve chairman Ben Bernanke has exhorted Europe's leaders to take further action to beef up banks and help southern Europe claw its way back to health, warning that the world financial system is not yet on a sound footing. Strains in global financial markets "continue to pose significant downside risks", said Bernanke. – UK Telegraph

Dominant Social Theme: You've got to get your banks in shape, the way they are in the US.

Free-Market Analysis: This is surely a dominant social theme – that banks can be seen as healthy due to so-called stress tests. The whole idea is that the paper money reserves held by banks must be adequate to surmount any larger financial downturn.

This is part of a larger dominant social theme of the power elite, that central banking economies have banks or even money in the normal sense. In the modern world, money is anything but "normal." 

But the elites that want to create world government want to insist on mimicking pre-modern monetary environments. They need to create the perception that the faux-money of central banking is every bit as valid as previous monetary systems.

They are driven to do this because central banks that they apparently control are their cash cows. Without the trillions thrown off by central banks, the elites would not have the funding and time to create the conditions for the looming "new world order."

And so the elites and their enablers such as Ben Bernanke resolutely pretend that the current system is analagous to previous "honest money" environments.

Nothing could be further from the truth. In fact, the exercise is useless for two reasons. First, the paper reserves held by large banks are not really "money" as previous generations understood it. They are simply central bank-issued pieces of paper with fancy printing, or more likely electronic digits.

Stress tests might have made sense when banks held fractional elements of gold and silver, but how do they make sense when central banks print paper or simply push a button and send electronic digits from one computer to another?

Second, even assuming that what banks hold is actually "money," the exercise is disingenuous. Fed chairman Ben Bernanke knows quite well that another profound market shock may not occur for a long time.

The crashes that signaled the beginning of what may be a current worldwide depression took place in 2008. In fact, it was at the end of 2007 and moving into 2008 that this worldwide business cycle experienced the second leg of a bull metals market and a bear securities/stock market.

The business cycle actually turned in 2001, when gold and silver finally began to move up after about a 20-year hiatus. The last big bull metals market ended in 1980 and began in 1970.

That market lasted a decade. But this one has been going on far longer because there is so much more economic distortion to unwind. Additionally, the top central bankers have flooded banks with "liquidity" that has prolonged this leg of the business cycle.

To prep banks for another crash is like prepping the financial system for another "event" after the Great Cash of 1929. Business cycles don't usually work that way. (Though, in fact, given how much liquidity Bernanke has tried to introduce into the system, the likelihood of another bubble and crash has grown considerably.)

We're on the downside of the bubble economy, or at least we should be. Free-market economics – and an analysis of the business cycle – shows us that modern central-bank economies inflate because central bankers inevitably print too much money.

Once all that money is circulating, it creates new demand as people feel wealthy and begin to spend and borrow injudiciously. After a while a boom is created and then, eventually, a bust.

A bust takes place once the market itself has figured out that there is too much economic activity and that much of the activity is misdirected. Usually markets crash and so-called "recessions" begin.

Bernanke, in his zeal to defend the system at the behest of the larger power elite, has kept the dysfunctional financial industry afloat. He may have basically aborted the business cycle for the moment. Certainly he may have prolonged this leg. It might have been over in a couple of years. Now it could stretch to 15 or more.

We've pointed out that he and his cronies may have printed up to US$50 trillion (no one knows how much) in additional liquid reserves. Actually, most of this money printing is simply the addition of electronic digits.

Much of this "money" actually hasn't begun to circulate yet because the demand isn't there. It is demand, not velocity, that creates the price inflation that can further destroy the value of "currency."

Bernanke of course, will explain none of this. He is merely interested in creating a public relations spectacle. He wants to make the point that he has done a good job in the US and that US banks are healthier than European ones. Here's some more from the article excerpted above:

"More needs to be done. Full resolution of the crisis will require a further strengthening of the European banking system," he told Congress, calling for a "significant expansion of financial backstops, or 'firewalls', to guard against contagion in sovereign debt markets."

Strains in global financial markets "continue to pose significant downside risks", he said but stopped short of criticising EU bank stress tests for banks. However, his comments reflect strong doubts in Washington over Europe's strategy.

The US stress tests are widely viewed as more rigorous, modelling the shock effects of a 5pc fall in GDP, a 52pc drop in equities, and a further fall of 21pc in house prices. By contrast, the EU tests have already been overtaken by events, with both economic contraction and unemployment in Spain certain to exceed the worst case scenario for 2012.

Europe's banks have a loan-to-deposit ratio of almost 1.3, we learn from the article, while the ratio for US banks is close to historical norms at 0.7. This means US banks are a good deal less leveraged.

But "leverage" means nothing under this sick system. Bernanke was willing to loan out tens of trillions around the world to ensure that the faux-economic system now in place didn't collapse, and this means the financial system itself is still gravely distorted.

US banks may be less leveraged, but there are still too many of them. Bernanke salvaged all the big ones. He salvaged the entire perverse system, which deserved to die a quick death.

The world is not just over-banked; it is swimming in banks, financial firms, financial products, gimmicky and complex financial schemes, etc. Why is this? Because central banking itself guarantees a perpetual financial bubble of sorts.

Until competition is reintroduced into the larger money system, this bubble will perpetuate itself. People think that the current climate is normal, but they've never experienced a normal money system.

In such a system financial activity would be far less than it is now. Wall Street would be shrunken as well. Money would likely be a depository of value and people might focus more on professional achievements than investment related ones.

Bernanke is nothing but a glorified PR man at this point, trying to keep all the balls in the air. He is running around the world now trying to convince the media and average people that the banking system has grown healthier under his watch. In fact, it is as swollen and unstable as ever.


Stress is not the problem and stress tests are not the solution. It's the entire system of monopoly fiat money that needs changing. Introduce monetary competition and do away with legal tender laws and you'll see some real stress introduced into the system. Stress that will provide the cleansing this financial bubble really needs.

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.