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. We have got a lot to talk about today, but first I want to remind you to please take the time to rate our podcast in iTunes and leave us some feedback. This really helps support us and help us rank higher so we can reach more people. If you enjoy the Vault Cast and want to see it continue then please take the time to give us a review. Also I want to let you know that our Vault Cast app is now available on Android devices through the Amazon app store. This app should be available on the iPhone in the very near future. Now you can listen to the vault cast no matter where you are straight from your smart phone device.
That’s all for this weeks announcements, now lets get right into the precious metals pricing!
[September 14, 2012]
Gold - $1770.50 up $2.30
Silver - $34.59 down .19 cents
Platinum - 1702.00 up $12.00
Palladium - $711.00 up $18.00
Financial News:
Can the Money System Collapse?
The thought seems unrealistic to people because it’s what we use every day. But the money we use is entirely reliant on government and its central bank. If their performance does not meet the criteria required by money then confidence in that money will collapse eventually. It’s clear that all currencies are not performing well at the moment as the balance sheet of most nations (except China) gets weaker and weaker. If most nations were individuals, then they would have been bankrupted by now.
A look back in history shows that not one paper currency system has lasted throughout the centuries, with the exception of those based solely on gold and silver which remain as money assets all the way.
Not today, you may well answer! We say oh, yes, today too. Despite all the rhetoric since 1971 gold remains in the bulk of the world’s leading reserves for that rainy day when something else is needed other than the currency issued by the nation’s central bank. Read More...
Now I really liked seeing that article because I’m always preaching that you need to look at history. If you want to know the future just look at the past. Like I’ve said over and over paper currency systems have never lasted. It was nice to see someone else bring up that point.
The Economic Collapse: Are you better off? 40 Statistics that will absolutely shock you
These statistics are pretty crazy but not surprising to me. I didn’t want to go through and read all 40 so I just picked out a few for you that I thought had the most shock factor and as always there will be links on the Silvertowne website to all these articles so that you can read them in full. Just click on the vault cast tab.
According to the Federal Reserve, the median net worth of American families dropped "from $126,400 in 2007 to $77,300 in 2010".
According to the Pew Research Center, 61 percent of all Americans were "middle income" back in 1971. Today, only 51 percent of all Americans are "middle income".
Back in 1970, middle income Americans brought home 62 percent of all income in the United States. In 2010, middle income Americans only brought home 45 percent of all income.
The unemployment rate in the United States has been above 8 percent for 42 straight months.
The percentage of working age Americans with a job has been below 59 percent for 35 months in a row.
In June, the number of Americans added to the food stamp rolls was nearly three times larger than the number of jobs added to the U.S. economy.
Approximately 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed last year.
The average pay for self-employed Americans fell by $3,721 between 2006 and 2010.
The United States was once ranked #1 in the world in GDP per capita. Today we have slipped to #11.
It is being projected that half of all American children will be on food stamps at least once before they turn 18 years of age.
It is estimated that child homelessness in the United States has risen by 33 percent since 2007.
Back in 1965, only one out of every 50 Americans was on Medicaid. Today, approximately one out of every 6 Americans is on Medicaid.
Amazingly, more than half of all Americans are now at least partially financially dependent on the government.
So are you better off than you used to be or worse off? Read More...
China And Russia Are Ruthlessly Cutting The Legs Out From Under The U.S. Dollar
The mainstream media in the United States is almost totally ignoring one of the most important trends in global economics. This trend is going to cause the value of the U.S. dollar to fall dramatically and it is going to cause the cost of living in the United States to go way up.
Right now, the U.S. dollar is the primary reserve currency of the world. Even though that status has been chipped away at in recent years, U.S. dollars still make up more than 60 percent of all foreign currency reserves in the world. Most international trade (including the buying and selling of oil) is conducted in U.S. dollars, and this gives the United States a tremendous economic advantage.
Since so much trade is done in dollars, there is a constant demand for more dollars all over the globe from countries that need them for trading purposes. So the Federal Reserve is able to flood our financial system with dollars without it causing a tremendous amount of inflation because the rest of the world ends up soaking up a lot of those dollars. But now that is changing.
China and Russia have been spearheading a movement to shift away from using the U.S. dollar in international trade. At the moment, the shift is happening gradually, but at some point a tipping point will come (for example if Saudi Arabia were to declare that it will no longer take U.S. dollars for oil) and the entire global financial system is going to change.
When that tipping point comes the global demand for U.S. dollars is going to absolutely plummet and nightmarish inflation will come to the United States. If such a scenario sounds far out to you, then you have not been paying attention. In fact, China and Russia have been working very hard to move us toward exactly such a scenario. Read More...
Last week I read you a quote from Benjamin Franklin and the quote was as follows: When the people find that they can vote themselves money, that will herald the end of the republic.
Well the Fed is at it again!
Firing up the printing press to give more money to the banks.
Let me try and explain why I think
printing money is so harmful for us. When you print money you increase
the money supply. When the supply of money goes up the value of the
money in our hands goes down. Basically the purchasing power goes down.
Simple supply and demand. If you pump gas or go to the grocery store
then you can see the effects of your moneys purchasing power going
down. It’s really called inflation. Actually it’s more like a tax on
the people. If I put money in the bank and over time that money
constantly looses value because of inflation, and the inflation is
because the Fed continues to increase the supply then that loss is
actually an inflation tax. Let me put it into prospective.
According to theeconomicollapseblog.com our money only has about 17
percent of the purchasing power that it had in 1970. That means if you
had put money in the bank in 1970 and its still there today you were
hit with an 83 percent inflation tax. Your money is literly worth
83 percent less then it was in the 70’s.
This is why I like to put money into
physically gold and silver, so I can protect myself against this
ridiculous inflation, and preserve my wealth.
I’ll also link to that article
for you as well. Read
More...
Fed Undertakes QE3 With $40 Billion in MBS Purchases Each Month
The Federal Reserve said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month in a third round of quantitative easing as it seeks to boost growth and reduce unemployment.
“If the outlook for the labor market does not improve substantially, the committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases and employ its other policy tools as appropriate,” the Federal Open Market Committee said today in a statement at the end of a two-day meeting in Washington.
The FOMC said it would probably hold the federal funds ratenear zero “at least through mid-2015.” Since January, the Fed had said the rate was likely to stay low at least through late 2014. The Fed said “a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens.” Read More...Thanks for listening to the Silvertowne vault cast, you can always find our show in iTunes and we would really appreciate you would take a few minutes and rate our podcast in the iTunes store.
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.
