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 and as always I’m very excited to be here speaking with all of you about precious metals and market news. I was watching a show and the person being interviewed was Peter Schiff. Now Peter Schiff has been preaching about this collapse for sometime, he actually predicted the 2008 crash even though people were saying that he was crazy. He was asked when he thought that the next crash would be here and he stated that it’s really hard to predict but that he believes it will happen in the during the next presidential term, weather it be Obama or Romney. He also said that putting money into gold is the best thing to do to protect yourself against hyper inflation. He said sooner then later. It’s better to be prepared ahead of the crash then to try and wait after the crash. I tend to agree with Peter Schiff on that. He believes it would be better to have the crash now, then to continue to print money and prolong the crash because the further down the road we push it out the worse the crash is going to be. Ill leave a link for you in the show notes if you want to watch that short video that I am referring too.
Buy Gold and Silver, Dollar Vulnerable to a Massive Collapse-Peter
Crazy stuff. Its hard to believe and its hard to hear, but I believe its true. So I for one am taking it very serious and trying to prepare the best I can.
I want to remind you to support the SilverTowne Vault Cast. You can do that by going into iTunes and leaving us a comment and star review. You can also comment on our YouTube and Facebook page. When you take the time to do this it lets us know that you enjoy the show and that you would like to see it continue.
Now lets go ahead and get into todays precious metals pricing!
Gold - $1764.00 down $6.40
Silver - $34.48 down .19 cents
Platinum – 1623.00 down $24.00
Palladium - $671.00 down $4.00
Financial News:
Things are getting worse: Median household income has fallen 4 years in a row
New numbers that have just been released show that things are getting worse for American families. According to the U.S. Census Bureau, median household income declined to $50,054 in 2011. That is a 1.5 percent decline from the previous year, and median household income has now fallen for 4 years in a row. In fact, after adjusting for inflation median household income has not been this low since 1995. These new numbers once again confirm what so many of us have been talking about for so long - American families are steadily getting poorer. Incomes are going down and the cost of living just keeps going up. This dynamic is squeezing more Americans out of the middle class every single month. Others just keep going into more debt in an attempt to maintain their previous lifestyles.
As Americans, we really don't like to hear that things are getting worse and that we are in decline, but unfortunately that is exactly what is happening. Our economy does not produce nearly enough jobs for everyone anymore, the proportion of low wage jobs in our economy continues to grow, and the middle class is shrinking at an alarming rate. Our politicians can deliver speeches about how great we all are until the cows come home, but it isn't going to change the reality of our situation. If we want different results we have got to start taking different actions. Read More...
$7 Million in Gold Discovered in Dead Man’s Home
A California woman may have a multimillion dollar fortune headed her way after authorities found an estimated $7 million worth of gold coins in her recluse cousin’s home.
Walter Samasko Jr., 69, died in May due to heart problems and was not discovered until June when neighbors complained of a bad smell coming from his house.
Samasko lived in Carson City, Nev., a city about 30 miles south of Reno. When authorities went to clean out his home, they found boxes of gold coins in his home and garage.
“He was quite a hoarder. He had boxes and boxes and boxes of things,” Carson City Clerk Alan Grover told ABCNews.com. Grover said there were many containers of food and cans.
Grover said the coins were in boxes marked “books.” There were also coins wrapped in aluminum foil and stored in ammunition boxes. There were Mexican, British and Austrian coins dating as far back as the 1870s.
There was so much gold that Grover used a wheelbarrow to carry the fortune to his truck. The coins were first moved to a bank vault and now they have been moved to armored vehicles.
Grover’s office estimated the worth of the coins at $7 million based on the amount of gold.
“We have to get it all appraised and come out with a real true figure,” he said. He added that the final figure could potentially be even larger because some of the coins might be worth more than their face value.
Samasko had no will and no immediate relatives. He was cremated and the remains were flown to Chicago to join his mother who died in 1992.
Using the funeral attendance list from Samasko’s mother’s funeral, Grover tracked down Arlene Magdanz, Samasko’s first cousin in San Rafael, Calif., who will most likely inherit the fortune. Magdanz’s daughter Leslie Magdanz declined to comment. “I don’t have any comment on this matter,” she told ABCNews.com. When asked if her mother had any comment, Leslie Magdanz said, “She does not.”
Grover said it could take several months for the fortune to be turned over to Magdanz.
Samasko had only $200 in the bank at the time of his death, according to the Las Vegas Sun, but had stock accounts totaling in $165,000 and had been living off of his investments.
Grover said one of his first thoughts upon seeing the thousands of coins was, “What was a guy like this doing with his kind of money in just a regular house?”
He described the house as a small, 1970′s three-bedroom home of about 1,200 square feet with orange shag carpeting.
“There were no antiques, no crystal or family jewelry or anything like that,” Grover said. “You would never have suspected the guy would have that much…he certainly didn’t live that way.” Read More...
Economic Crisis Coming After Election,
Warns Jim Rogers
The Federal Reserve continues to take Americans down a dangerous road to financial armegeddon, even by secretly printing more money to avoid "getting egg on their face again."
That's according to legendary investor Jim Roger, an outspoken critic of the Feds policies of "Quantitative Easing," who told India's Economic Times, "If you look at their [The Fed's] balance sheets, you will see that something is happening, assets are building on their balance sheets and they are not coming from the tooth fairy."
"They are a little bit embarrassed because they announced QE1 and QE2 and it did not work. They may just continue to do it without getting egg on their face again, but they are going to print money, they are all going to print money," he said.
In the U.S. alone, the national debt is expected to soon top $16 trillion, that's more than $50,000 for every American man, woman and child.
"[Governments] need to stop spending money they don't have," Rogers said recently on CNBC. "The solution to too much debt is not more debt... What would make me very excited is if a few people [in the government] went bankrupt..." Rogers added. Read More...
Gold’s Heading to $2000, Strategists Say; Thanks QE3
Gold is still struggling to top the year-to-date high set back in February, despite the boost bullion prices got last week from the Fed’s latest loose-money plan. But Wall Street is feeling enthusiastic about gold nonetheless, in the wake of the announcement that the central bank will buy up billions in mortgage-backed securities every month for the foreseeable future
Deutsche Bank said gold prices would top $2,000 per ounce in the first half of 2013, which would represent at least a 13% gain over Tuesday’s settle price of $1,768.40 in the New York futures market – as well as a new record high in nominal terms, well above the $1,888.70 hit in August 2011. Gold hit its high for 2012 on Feb. 28, when prices settled at $1,787.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.
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.
