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Bush Defends Capitalism on Eve of Economic Summit
November 14, 2008
The strangeness of the late 2000s media dialogue continues. Now America's President George Bush has issued a warning to other countries: "Don't mess with capitalism." The article, excerpted above, points out his belief that capitalism is the best system for unl ...
Paranoia on the Rise, Experts Say
November 13, 2008
Anyone with a sufficient grasp of reality might well feel a twinge of paranoia at the pattern of current events. The best way to counteract it is to seek solutions that alleviate the helplessness that often accompanies such a state. Preparing for the worst, som ...
Confirmed Treasury Silver Manipulation?
November 12, 2008
We have been fairly straightforward about our belief there is something fishy as regards the price of gold and silver. We think in a normal environment the price would have gone higher, and sooner. Of course such a suspicion demands a motive. The motive, fairly ...
Warnings From World Leaders
November 11, 2008
From a free-market perspective, the above remarks reaffirm what we already understand to be true about precious metals: in a bear market, with all its attendant anxieties, gold and silver often thrive. Bear markets are inherently difficult from an emotional sta ...
G-20 Nations Ready to Take 'Urgent' Action
November 10, 2008
It is hard to keep track of all the international organizations these days. Once upon a time, the United Nations was going to provide a central forum for these sorts of activities, but no more, apparently. The UN, perhaps because of endless corruption, has appa ...
Obama to Meet With Economic Team
November 07, 2008
For some reason, it is widely accepted within the mainstream media that Barack Obama shall bring a sense of reason and purpose to responses to the economic crisis. He is meeting with people reputed to be at the top of the economic field, and the idea is that t ...
What the World Wants From Its President
November 06, 2008
The idea that Barack Obama will be more friendly to the European Union is fairly discouraging. There is nothing very democratic about the EU these days, with its constant electoral do-overs and endless striving for the attributes of a nation state. There is als ...
Democrats Expand Control of Senate by Five Seats (Obama Wins)
November 05, 2008
The victory of Barack Obama is being presented in the mainstream media as a resounding affirmation for Obama's slogan of "change." While no one is absolutely sure of what "change" entails, one might offer with some certainty the idea that the vote that propelle ...
Nowhere Man: A Farewell to Gee Dubya
November 04, 2008
In truth, George W. Bush's record is one of militant government activism. He used every lever of federal government machinery to build a legacy featuring a public debt over $10 trillion, two hot wars and several more cold ones, a dysfunctional, national educati ...
Putin: We Must End Monopoly in World Finance
November 03, 2008
Putin joins Chinese leaders in demanding a change in the international financial scene. But it is not clear what he means by this. The Chinese, perhaps, are slightly clearer, having called for more regulation and a decreased role for the dollar. Putin apparentl ...
Gold Wars of Attrition
October 31, 2008
This subject can be made complex, but it is really quite simple. Here at the Daily Bell, we've been commenting on it for months, but now a spate of articles have hit the hard-money and alternative 'net press predicting that fairly significant events will occur ...
Fed Cuts Rate by Half a Point, Is Open for More
October 30, 2008
It is fairly obvious to anyone who reads a lick that central banks and fiat money are the most responsible for the endless blowups that afflict Western, and now world, economies. And the blow ups constantly seem to get worse. In America the first real blow up c ...
Dow Jumps Nearly 900 Points
October 29, 2008
Everything is OK now? The Dow roared up an almost impossible 10 percent yesterday, purportedly on news of an expected rate cut by the Fed. All this is fairly cynical in our opinion. Between basic money generation and rate cuts (credit generation), the amount of ...
Global Economy Talks Call for Greater Role for IMF
October 28, 2008
It is just astonishing that the IMF is creeping back into the picture in a big way. The IMF is putatively supposed to help countries that have spent too much money and are in danger of going broke. Of course, once upon a time, such countries were third world. T ...
China's Central Bank Warns of Risks in Illegal Gold Futures Speculation
October 27, 2008
China looks out for its own. But this time the old men who run the place may be feeling a tad snookered. Yes, it would seem the dragon is stirring. (See next article as well.) It could be that China's leaders see a chance to flex their muscles, or it could be t ...
Greenspan Shocked at Extent of Financial Crisis
October 24, 2008
What a load of hooey. Do you really think that Greenspan was surprised by the current speculative bubble? Do you still think he had no idea? He writes as a young man, The excess credit which the Fed pumped into the economy spilled over into the stock market-tri ...
German Anger Meets Swiss Wrath in Tax Row
October 23, 2008
Actually, this is not merely "infighting" but yet another historical opportunity to watch the conflict between socialism and republicanism. For Switzerland is probably as close to a functional republic as the Western world has now that America has dropped out o ...
Haarde's Free-Market Embrace May Prompt Backlash by Icelanders
October 22, 2008
It's fascinating to watch tomorrow's history being written today. When it comes to the financial crisis, one can see the meme being constructed – capitalism fails and socialist/Fabian-ist John Maynard Keynes makes a comeback. Government is useful after all .. ...
Amid the Rubble of Global Finance, a Blueprint for Bretton Woods II
October 21, 2008
The leftist Guardian can't help itself of course. These plans have been circulating for months, for years, probably. Those behind them just needed one big, fat crisis. And now they have one. And they are licking their lips. Certainly Jeffrey Sachs is. One of th ...
Bush Plans to Host World Powers at Economic Summit
October 20, 2008
It is hard to see through the vagueness to exactly what is being called for, but no doubt whatever takes place will do nothing to address the root cause of the current economic crisis. Those who are most forceful in calling for "reform" – whatever that is – ...
Swiss Government Props Up UBS With $60 Billion Lifeline
October 17, 2008
Being part of a publishing company based in Switzerland, we doubt the average citizen is going to be especially pleased with what is going on in its storied banking business. The Swiss are an industrious people to be sure, but above all what Switzerland provide ...
Bernanke Weighs Limits on Bank Consolidation, Asset Bubbles
October 16, 2008
Actually, it is starting to seem as if Bernanke will say virtually anything to sound like he knows what he is doing. But what he's saying seems to get increasingly bizarre. Alan Greenspan, Bernanke's predecessor was always talking about asset bubbles (even if h ...
Americans Embrace Big Government to Help
October 15, 2008
The kind of soft socialism that has been ushered in with the latest and most expansive US government involvement in the private sector is un-American in a fundamental sense. If one subscribes to the idea that America was once the world's most powerful and produ ...
U.S. Treasury Said to Invest in Nine Major U.S. Banks
October 14, 2008
One would not have predicted years ago that the current American administration would be taking $125 billion-plus position in America's largest investment banks (eventually, we will see how much it really is), and dictating the terms as well. That this is takin ...
We Must Lead the World to Financial Stability
October 13, 2008
Thanks to the current credit crisis, which is actually a crisis of Western "fiat" money, UK Prime Minister Gordon Brown has seemingly made a comeback in popular opinion. Popular opinion had previously been running heavily against Brown, who succeeded the increa ...
Who Is Going to Bail Out the Euro?
October 10, 2008
Evans-Pritchard is one of the better mainstream economic commentators, and he has been hitting the economic crisis hard. He certainly has hard-money sympathies, and he has written on one occasion or another that the only currency worth owning right now is bulli ...
Brave New World?
October 09, 2008
As part of what we hope could be considered a public service, we continue to report on calls for ever deeper and more invasive regulatory fixes, worldwide. These efforts are usually accompanied by melancholy protestations of sincerity. And the breast-beating an ...
U.S. Treasury Appoints Financial Stability Chief
October 08, 2008
From farce to tragedy? This is what happens when free-markets are overtaken by uncontrolled cronyism and corruption. A 35-year-old gets tapped to run a US$700 billion bailout fund that is supposed to save the American economy and thus the world's financial syst ...
Gold Rises as Stocks Tumble
October 07, 2008
A funny thing happened on the way to a commodity collapse. Gold went up. As part of the endless attack on money metals by the monetary elite, the idea that gold and silver are "commodities" has been another arrow in the quiver of honest-money negativity. But go ...
More Calls for Global Financial Rules
October 06, 2008
We began to predict calls long ago for more international regulation based on the current "financial crisis." Our perception of what was bound to occur has indeed come true in various regions. Take the United States. Here, the Democrats have been gearing up for ...
UBS Turns a Corner
October 03, 2008
It must be great for those of the "Swiss persuasion" who identify with large banks to see that UBS is back on track. Everything sounds really good. After a loss of only US$43 billion, the great Swiss bank has turned the corner. Its management expects it to be p ...
Revolt of the Nihilists
October 02, 2008
Global capital flows have indeed transformed the American economy, and other Western economies as well. But where do these capital flows come from? Watching the American debate over the economy has been dispiriting because even with the addition of the recent L ...
With Wachovia Sale, the Banking Crisis Trickles Up
October 01, 2008
Except what is "good " for some may not be good for all, or even many. The contraction of banking in the United States proceeds apace with that country's largest banks merging one after the other. What is most fascinating about the consolidation is that it begi ...
Gold No Longer a Market?
September 30, 2008
We are pleased to present the above excerpt because it dovetails neatly with a point we made recently - that there is probably no question now that precious metals markets are highly manipulated and that this ongoing manipulation will eventually render these ma ...
Central Banks Cut Sales of Gold
September 29, 2008
It has long been our contention that the world remains on a de facto gold and silver standard, even if many of the people in it don't understand the reality of the money they use. This money is supposedly guaranteed by the "full faith and credit" of the state. ...
U.S. Will Lose Financial Superpower Status: Germany
September 26, 2008
e wrote about how Europeans seemed a little smug recently when being quoted about the problems in the US. What the problems come down to, in our estimation, is that the Federal Reserve carried on with a loose money policy for so long that it created a euphoria ...
U.S. Faces 'Long and Painful Recession': Bush
September 25, 2008
US President Bush hit the airwaves last night to hype the administration's $700 billion bailout of America's largest financial firms. He spent a good deal of time explaining the reason why the nation was in the fix it is in. He explained that a large influx of ...
The Federal Anything but Reserved
September 24, 2008
The avalanche of finger-pointing has begun and will not cease for several decades, if then. But the above excerpt is from an article that is among the best of the most recent crop, in that it actually attacks the Federal Reserve rather than "greed" or "Wall Str ...
China Paper Urges New Currency Order
September 23, 2008
On and on, high finance will go. OK, maybe. But one thing is fairly certain: The frustration of America's lenders will go on and on. The Chinese alone are on the hook for something like a trillion dollars of American Treasurys. In fact, you would think some of ...
U.S. Weighs Bailout of Foreign Banks, Too
September 22, 2008
Goodness, it didn't take very long to realize our prediction that the current debacle would be used as a way to further "globalize" domestic financial systems, especially America's. And so long as we're keeping track (and we do), we wish note once more, as we h ...
War on the Shorts
September 19, 2008
In a free market, participants would be free to buy or sell securities as they wished. Patently, as we have learned once again in the past weeks and months, the securities marketplace is not "free" and in fact is basically a kind of colony of the American Feder ...
Gold Prices Post Biggest 1-Day Gain Ever
September 18, 2008
It didn't make sense to us that gold and silver would be lapsing into a bear market, given both the amount of money that central banks are throwing at the markets and the amount of nervousness as well. And while yesterday's price action might be aberrant, we wo ...
Why Are Gold and Silver Falling?
September 17, 2008
We are big fans of Dr. Gary North, and this is an interesting article that we have excerpted above. Dr. North now seems to believe that the best days of the gold (and silver) bull market may be past and that the future holds only gradual deflation. Wow. That's ...
Lehman Brothers Faces Failure, While Merrill Lynch Is Bought
September 16, 2008
Some win, some lose – and Wall Street will continue. Because Wall Street is in such flux, this first article will focus on the proverbial "big picture." (That's why you read The Bell after all, isn't it?) In fact, whether firm X is purchased, or firm Y is "sa ...
The End of Wall Street?
September 15, 2008
Thanks to Fortune for this insightful analysis. We just don't buy it. For us, Wall Street was always something of a dream, a sometimes languid and sometimes frenetic slumber ongoing for a very long time – longer than we have been around – nearly a century. ...
Russia Flexes Military Muscle in Joint Exercise With Venezuela
September 12, 2008
There is no doubt that the Russians are angry with the way the United States has acted within a "unipolar" world. First the Clinton administration and then the Bush administration have pursued wars near Russia while trying to woo countries that have traditional ...
Africa Becoming a Biofuel Battleground
September 11, 2008
You can argue as many do that central banking is a benign and necessary activity. Our take is that central banking is a destructive force because central bankers never know how much money is too much. And because the central bank always prints too much money, i ...
Paulson Placates China and Russia for Now
September 10, 2008
Sorry to return to the Fannie and Freddie bailout once again, but the totality of mortgages held by these two monsters is in excess of $6 trillion. The United States, in taking over these "companies" has basically socialized a major portion of its internal mark ...
Bank Insiders Purchase Own Stock at Fastest Pace in Two Decades
September 09, 2008
And so the myth of the savvy banker rolls on. You would think after decades of implosions, bankruptcies and general mayhem around the world that bankers might offer up a little humility alongside the inevitable gravitas. But such is not the case. These bankers ...
Mortgage Crisis Has Washington Putting Aside Free-Market Ideology
September 08, 2008
What free market ideology? The United States has a $3 trillion federal budget, a national debt the size of a black hole and a graduated income tax that drains wealth from the middle class (mostly) for the benefit of the wealthy. That Fannie and Freddie are to b ...
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