Welcome to the Silvertowne
Vault Cast, helping you protect yourself against inflation and preserve
wealth with physical Gold and Silver
My name is Shawn Ozbun, and our goal is to keep you up to date with
what’s going on in the world of Gold and Silver by providing you with
current news and precious metals pricing.
The Silvertowne Vault Cast is brought to you by www.Silvertowne.com
Let's have a look at our precious metals pricing for today.
Gold
-
$1234.25
Down
$9.20
Silver
-
$19.49
Down
$0.21
Platinum -
$1372.00
Down
$3.00
Palladium -
$733.00
Up
$0.50
Too Big To Fail Banks Are Taking Over
As Number Of U.S. Banks Falls To All-Time Record Low
The too big to fail banks have a larger share of the U.S. banking
industry than they have ever had before. So if having banks that
were too big to fail was a "problem" back in 2008, what is it
today? As you will read about below, the total number of banks in
the United States has fallen to a brand new all-time record low and
that means that the health of the too big to fail banks is now more
critical to our economy than ever. In 1985, there were more than
18,000 banks in the United States.
Can you guess where most of the bank branches are being closed?
If you guessed "poor neighborhoods" you would be correct.
According to Bloomberg, an astounding 93 percent of all bank branch
closings since late 2008 have been in neighborhoods where incomes are
below the national median household income...
And if you are waiting for a whole bunch of new banks to start up to
serve these poor neighborhoods, you can just forget about it.
Because of a whole host of new rules and regulations that have been put
on the backs of small banks over the past several years, it has become
nearly impossible to start up a new bank in the United States. In
fact, only one new bank has been started in the United States in the
last three years.
http://theeconomiccollapseblog.com/archives/too-big-to-fail-banks-are-taking-over-as-number-of-u-s-banks-falls-to-all-time-record-low
JPMorgan Chase is roughly the size of the entire British economy.
-The four largest banks have more than a million employees combined.
-The five largest banks account for 42 percent of all loans in the
United States.
-Bank of America accounts for about a third of all business loans all
by itself.
-Wells Fargo accounts for about one quarter of all mortgage loans all
by itself.
-About 12 percent of all cash in the United States is held in the
vaults of JPMorgan Chase.
As you can see, without those banks we do not have a financial system.
JPMorgan Chase
Total Assets: $1,947,794,000,000 (nearly 1.95 trillion dollars)
Total Exposure To Derivatives: $71,289,673,000,000 (more than 71
trillion dollars)
Citibank
Total Assets: $1,319,359,000,000 (a bit more than 1.3 trillion dollars)
Total Exposure To Derivatives: $60,398,289,000,000 (more than 60
trillion dollars)
Bank Of America
Total Assets: $1,429,737,000,000 (a bit more than 1.4 trillion dollars)
Total Exposure To Derivatives: $42,670,269,000,000 (more than 42
trillion dollars)
Goldman Sachs
Total Assets: $113,064,000,000 (just a shade over 113 billion dollars –
yes, you read that correctly)
Total Exposure To Derivatives: $43,135,021,000,000 (more than 43
trillion dollars)
Please don't just gloss over those huge numbers.
Let them sink in for a moment. Read More....
Wow – The Holiday Shopping Season Is
Off To A Horrible Start
According to the National Retail Federation, Americans spent an average
of 4 percent lessover the four day Thanksgiving weekend than they did
last year. Overall, that means that approximately$1.7 billion
lesswas spent at U.S. retailers compared to last year. It had
already been projected that this holiday shopping season would be the
worst for retailers since 2009, but if these numbers are any indication
it may be even worse than expected. So why is this
happening? Well, basically the American consumer is tapped
out. The unemployment crisis in this country is actually getting
worse, poverty is absolutely exploding and the middle class is being
systematically eviscerated. In other words, you can't get blood
out of a stone. Many retailers are offering extreme discounts in
a desperate attempt to lure more shoppers, but the money simply isn't
there.
According to Yahoo News, the decline in shopping over the four day
Thanksgiving weekend was the first decline that we have seen since the
last recession... Read More...
The Coming Global Wealth Tax
Between ObamaCare, Iran and last quarter's uptick in U.S. economic
growth, taxpayers these days may be distracted from several dangers to
come. But households from the United States to Europe and Japan may
soon face fiscal shocks worse than any market crash. The White House
and New York Mayor-elect Bill de Blasio aren't the only ones calling
for higher taxes (especially on the wealthy), as voices from the
International Monetary Fund to billionaire investor Bill Gross
increasingly make the case too.
http://online.wsj.com/news/articles/SB10001424052702304355104579232480552517224
Chinese Yuan overtakes Euro in Trade
The Chinese yuan has overtaken the euro to become the second most used
currency in the global market place. Last year its share of world trade
was just over 1 percent compared to the euro's almost 8 percent. The
yuan has now reached almost 9, leaving the euro way behind. Keith
Boyfield from the Centre for Policy Studies joins RT to discuss this
issue. Read
More...
For the best source for acquiring gold and silver please contact
Silvertowne at 1-877-477- Coin, that’s 1-877-477-2646 or you can visit
us at www.silvertowne.com. Silvertowne has been a trusted precious
metals and numismatics dealer since 1949.
One of the most common ways to invest in silver is with silver ingot.
They are affordable, portable and easy to stack and store.
Popular SilverTowne Trademark Silver Bars, featuring a classic
prospector and his donkey, are guaranteed .999 fine silver and
available in 1, 5 and 10 ounce sizes and SilverTowne is currently
offering free shipping for these ingots. Contact Silvertowne
today.
[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is
risk associated with all investment including gold and silver.
You should seek advise from a licensed financial expert before making a
purchase.
SilverTowne > The SilverTowne Vault Cast Episode 128 - Gold, Bitcoin and Too BIG to fail banks