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
Welcome back to The SilverTowne Vault Cast. To get started I wanted to share a quote with you this morning and it’s a quote from Benjamin Franklin. When the people find that they can vote themselves money, that will herald the end of the republic.
I think that’s an interesting statement, especially seeing’s how we live in a time when that kind of behavior is being practiced. There truly is nothing new under the sun. If you want to know what the future looks like, all you have to do is look at the past. Look at history and see what has happened to nations who made similar decisions to the US both socially and economically. I think you will also find it interesting to know that during a financial collapse when looking at history, hard assets like Gold and Silver were preferable to paper type assets.
Thank you for joining me again for another episode of the SilverTowne Vault Cast and as always I’m happy to be here with you sharing the news and precious metals pricing. I would like to ask you to take a few minutes and rate our podcast in the iTunes store. You can give us a star rating and leave us a comment. When you do that you help the podcast rank higher and makes it possible for us to reach more people. To those of you who have been leaving comments on our YouTube channel and Facebook page, I just want to say thank you for supporting the SilverTowne Vault Cast.
I would also like to remind you that I am not giving out financial or investment advise. I am simply here sharing with you some news that I have come across and I’m giving my personal opinion on the situation. You should always seek advise from a licensed financial adviser before making a purchase.
I bring this up because I have recently benn receiving phone calls from people wanting some advise on what they should do. I’m honored, and I really appreciate that some of you think of me as someone you can trust and want my advise; however I’m afraid that the only advise I can give you; is take the time to research what’s going on. Educate yourself on the economy, on gold and silver and on the history of money. My hope is that this podcast will help keep you up to date with gold, silver and market news, that way you can make a decision that seems right for you.
Now lets get into todays precious metals pricing.
Gold - $1711.15 up $16.75
Silver - $32.92 up
$.55
Platinum - $1589 up $12.00
Palladium - $655 up $7.00
Financial News:
Economic Failure: 58 Percent Of The Jobs Being Created Are Low Paying Jobs
Are you good at flipping burgers , waiting tables or stocking shelves? Are you proficient with a cash register? Do you enjoy doing mindless work for very low pay? If you answered yes to any of those questions, then you are probably going to fit in very well in the new U.S. economy. According to a report that has just been released by the National Employment Law Project, 58 percent of the jobs that have been created since the end of the recession have been low paying jobs. So exactly what is a low paying job? Well, the National Employment Law Project defines it as a job with an hourly wage between $7.69 and $13.83. But of course you can't pay a mortgage or support a family on $13.83 an hour. Even if you got full-time hours the entire year, you would make less than $28,000 on an annual basis. The federal poverty level for a family of five is $27,010. So needless to say, most of these new jobs are not paying enough to support a middle class lifestyle. This represents an economic failure on a fundamental level. Our economy is producing very few good jobs that enable people to be able to raise families and live the American Dream. The ranks of "the working poor" are exploding and the number of Americans that are dependent on the government is sitting at an all-time record. Sadly, if current trends continue things are going to get a lot worse. Read More...
Gold steady near six-month highs
Gold steadied around its highest level in nearly six months on Tuesday, boosted by the prospect of further liquidity injections from the U.S. Federal Reserve, which kept the dollar near two-month lows versus the euro.
Fed Chairman Ben Bernanke in a speech last week suggested the central bank may resort to using more unusual policy measure to keep interest rates low, which has lifted growth-dependent assets such as commodities and stocks.
Investors hold more gold through exchange-traded funds than at any time in the past, after hefty inflows of metal into these products in August.
The likelihood of the European Central Bank unveiling a plan on Thursday to definitively reverse the debt crisis that has plunged the euro zone into recession gave the single European currency a boost, driving gold priced in euros to its highest level this year.
Analysts said the scope for disappointment from either the ECB or the Fed would likely limit gains in gold for now. Read More...
Your Window to Buy Gold Below $1,700 Is Closing
Even the hardiest investors have been lamenting that gold prices have been stuck in a rut for a long time. Others with less experience have watched the market waiting for something to happen…. And as always, many bailed out of the market entirely, licking their wounds. But some, including me, have been stocking up. We're convinced prices won't stay down forever. In fact, I think there's a good reason to buy gold if you can, and as soon as possible. I examined gold's three largest corrections since the bull market began in 2001, including how long it took to recover from those corrections and establish new highs. The conclusion that emerged is that the current lull in gold prices will almost certainly end soon, if it hasn't already. The next few days or weeks will likely be the very last time you can buy gold below $1,700. You'll have to pay a higher price from then on. And think about this: it's entirely possible that by this time next year you will never again be able to buy gold for less than $2,000 an ounce – unless maybe it's in "new dollars" or some other currency that circulates with fewer zeros on the notes. Read More...
How Long Will the Dollar Remain the
World's Reserve Currency?
We frequently hear the financial press refer to the U.S. dollar as the “world’s reserve currency,” implying that our dollar will always retain its value in an ever shifting world economy. But this is a dangerous and mistaken assumption.
Since August 15, 1971, when President Nixon closed the gold window and refused to pay out any of our remaining 280 million ounces of gold, the U.S. dollar has operated as a pure fiat currency. This means the dollar became an article of faith in the continued stability and might of the U.S. government
In essence, we declared our insolvency in 1971. Everyone recognized some other monetary system had to be devised in order to bring stability to the markets.
Asian central banks-- have lost their appetite for holding U.S. dollars. China, Japan, and Asia in general have been happy to hold U.S. debt instruments in recent decades, but they will not prop up our spending habits forever. Foreign central banks understand that American leaders do not have the discipline to maintain a stable currency.
If we act now to replace the fiat system with a stable dollar backed by precious metals or commodities, the dollar can regain its status as the safest store of value among all government currencies. If not, the rest of the world will abandon the dollar as the global reserve currency.
Both Congress and American consumers will then find borrowing a dramatically more expensive proposition. Remember, our entire consumption economy is based on the willingness of foreigners to hold U.S. debt. We face a reordering of the entire world economy if the federal government cannot print, borrow, and spend money at a rate that satisfies its endless appetite for deficit spending. Read More...
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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.
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[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.
