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 and thanks again for joining us. A lot in the news today pertaining to QE3. Lots of opinions out there, most of witch seem to be bad. Truth is, I don't think that there is a perfect answer or a magic pill for our problem. I think we are just going to have to do the best we can and be as responsible as possible and take the necessary precautions. One of the best ways to protect your wealth is by owning precious gold and silver. If you currently don't own any physical Gold and Silver then I would like to encourage you to contact Silvertowne today.
I would also like to remind you to please rate our podcast in the iTunes store. Giving us a rating and comment helps us move up in the ranks and reach more people. I would like to give a big thank you to those of you who have already given us some great feedback on our YouTube channel or Facebook page.
Lets get right to the precious metal pricing for today!
[Monday, September 17, 2012]
Gold - $1769.00 down $2.50
Silver - $34.53 down .25 cents
Platinum - 1700.00 down $14.00
Palladium - $696.00 down $5.00
Financial News:
How QE3 Will Make The Wealthy Even Wealthier While Causing Living Standards To Fall For The Rest Of Us
The mainstream media is hailing QE3 as a great victory for the U.S. economy. On nearly every news broadcast, the "talking heads" are declaring that Ben Bernanke's decision to pump 40 billion dollars a month into our financial system is definitely going to help solve our economic problems. The money for QE3 is being created out of thin air and this round of quantitative easing is going to be "open-ended" which means that the Federal Reserve is going to keep doing it for as long as they feel like it. But is this really good for the average American on the street? No way. Despite two previous rounds of quantitative easing, median household income has still fallen for four years in a row, the employment rate has not bounced back since the end of the last recession, and new home sales have remained near record lows. So what have the previous rounds of quantitative easing accomplished? Well, they have driven up the prices of financial assets. Those that own stocks have done very well the past couple of years. So who owns stocks? The wealthy do. In fact, 82 percent of all individually held stocks are owned by the wealthiest 5 percent of all Americans. Those that have invested in commodities have also done very nicely in recent years. We have seen gold, silver, oil and agricultural commodities all do very well. But that also means that average Americans are paying more for basic necessities such as food and gasoline. So the first two rounds of quantitative easing made the wealthy even wealthier while causing living standards to fall for all the rest of us.Is there any reason to believe that QE3 will be any different? Read More...
Gold hovers at seven-month highs after Fed pledge
Gold steadied around seven-month highs on Monday, having posted a fourth successive weekly gain last week, after the Federal Reserve's pledge to keep interest rates low undermined the U.S. dollar and fed investor appetite for bullion.
Spot gold was steady on the day at $1,768.70 an ounce by 5:42 a.m. EDT (0942 GMT), having risen by nearly 2 percent last week in its fourth successive weekly increase, the longest stretch of weekly gains in more than a year.
The Fed said last week it would keep U.S. rates near zero until middle of 2015, building on its existing vow to maintain them at this level until late 2014, triggering a 2-percent rise in the gold price in one day.
The central bank also committed to $40 billion in monthly purchases of mortgage-backed securities as long as job growth was sluggish to keep borrowing rates low for homebuyers and keep credit flowing through the financial system.
"The market has to consolidate the gains it has made since the end of August. That has been already a significant move upwards for the various precious metals, so if we do not see $1,800 (in gold) this week, that would not be a problem as, nevertheless, the signs are that precious metals prices are moving higher. Read More...
Silver offers investors the best
protection available against QE3 dollar debasement
Silver prices are really going to be on a roll until at least next Spring after Ben Bernanke unleashed his latest round of money printing QE3 last week which echoed the ‘unlimited’ bond buying promised by the ECB the week before.
It’s coordinated ‘QE to infinity’ as Mr. Gold Jim Sinclair correctly
forecast the week before. ArabianMoney like ‘The Economist’ magazine is
a bit taken aback at the timing and intensity of QE3. We thought
Mr.Bernanke might keep his powder dry for a while longer. He did not.
Mr.Bernanke clearly knows a lot more than he is letting on and it is
not good news. He is reacting to the nasty known-knowns coming up,
namely: the US ‘fiscal cliff’ at the year-end with lower spending and
higher taxes; the Chinese economic slowdown or crash that is happening
now; and the interminable eurozone sovereign debt crisis with Greece
not likely to get a third bailout and Spanish bonds about to be tested
to destruction. 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.
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.
[Dislcaimer] 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.
