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. I am excited to be here sharing the news with you as always. We got a few very interesting articles to cover today. I think it’s also very important information as well but before we do that I want to remind you that our podcast can be found in the iTunes store. If you are subscribed to the SilverTowne Vault Cast in iTunes then I would like to ask you to take a few minutes and give us a rating and a comment there and let us know what you think. You can also download the SilverTowne Vault Cast app on your Android smart phone device if you own an Android. This app should also be coming to the iPhone platform very soon. You can also subscribed to the SilverTowne Vault Cast on YouTube. So we have several places for you to be able to consume this information. You can even listen to the show right from our website. Just look for the Vault Cast on the right hand side of the home page.
Now lets go ahead and get into todays precious metals pricing!
Gold - $1769.00 down $4.56
Silver - $34.36 down .23cents
Platinum - 1666.00 down $3.00
Palladium - $643.00 down $1.20
Financial News:
Why The US Dollar Will Not Soon Lose
Its Status As The World Reserve Currency
It wasn’t that long ago that the dollar was the monetary unit used in
over 80% of all international commerce. Today that percentage is down
to about 60% and still falling.
It is easy to understand why the use of the dollar around the world is
declining, but that does not necessarily mean that the US dollar will
soon lose its status as the de facto world reserve currency.
Even though the US dollar may fall sharply in value in the next few years, it will still be used for a significant percentage of worldwide trade. Here’s why.
The most important reason is that there is no other currency
positioned
to replace the US dollar as the world’s reserve monetary unit. The euro
is on shaky grounds, the yen issued by a Japanese government that has a
huge overhanging level of debt. China’s yuan is still in the early
stages of being used in international commerce. No other country has a
large enough economy to replace the US dollar on a global basis.
What about gold, though? I fully expect gold to become more important
at facilitating international transactions, through the use of gold
clauses in contracts, if not outright payments in weights of pure gold.
Gold will again become a trusted monetary unit because of its
multi-thousand year track record of never failing. However, no
politicians will be willing to surrender control of its domestic money
system to the absolute external rigor of weights and purities of a
commodity. Read
More...
Quantitative Easing Did Not Work For The Weimar Republic Either
Did printing vast quantities of money work for the Weimar Republic? Nope. And it won't work for us either. If printing money was the secret to economic success, we could just print up a trillion dollars for every American and be done with it. The truth is that making everyone in America a trillionaire would not mean that we would all suddenly be wealthy. There would be the same amount of "real wealth" in our economy as before. But what it would do is render our currency meaningless and totally destroy faith in our financial system. Sadly, we have not learned the lessons that history has tried to teach us. Back in April 1919, it took 12 German marks to get 1 U.S. dollar. By December 1923, it took approximately 4 trillion German marks to get 1 U.S. dollar. So was the Weimar Republic better off after all of the "quantitative easing" that they did or worse off? Of course they were worse off. They destroyed their currency and wrecked all confidence in their financial system. There was an old joke that if you left a wheelbarrow full of money sitting around in the Weimar Republic that thieves would take the wheelbarrow and they would leave the money behind. Will things eventually get that bad in the United States someday? Read More...
I say it over and over. You want to know the future? Look at the past. This is just one example but there are many, many, examples of this same thing. This is what happens when you print money and your money is backed by nothing more then the governments word. This is our future people. I'm not so sure it could even be turned around. I think we are in so deep that we have to print money until our currencies worth nothing to stay a float right now. Eventually nature will take it's course. Hopefully when it happens you have something of real value that you can use to feed your family. Notice it took 4 years to go from only needing 12 marks to buy 1 U.S. to needing 4 trillion marks to buy 1 U.S. Dollar. Can you even rap your mind around needing a wheel barrel full of paper currency to buy a peace of bread? Can you rap your mind around needing trillions of dollars to put some food in your stomach? I would highly recommend that you have some gold and silver to fall back on. Even if nothing goes wrong and nothing happens. Its still a good idea in my mind to have some insurance.
An early Halloween for gold traders
October tends to be the worst month of the calendar for the yellow metal. he most plausible reason I’ve seen traces to an argument I encountered a couple of years ago from John LaForge, a commodity strategist at Ned Davis Research. He thinks seasonal factors tracing to Indian jewelry demand play a major role. You may find it difficult to believe that jewelry demand can have such a big influence on gold’s price, but LaForge reminds us that “roughly 50% of gold demand still comes from jewelry.” And, even though China is emerging as a major player in the world jewelry market, historically it’s been dominated by India. Read More...
It will be interesting to see how this October shapes up. I think this year it may be a little different then it has been in the past. I think more and more people are realizing that they need to own gold for an alternative currency. With banks and entire countries buying gold by the tons, it's my personal opinion that gold will continue to stay strong and over the $1700 mark. I could be completely wrong but that's my feeling on the matter.
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.
