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 for another episode of the SilverTowne Vault Cast. I have gotten some good feedback about the new YouTube version of this show, and I thank you for your comments. You can actually subscribe to the SilverTowne YouTube page and then every time a new video is added it will automatically show up in your YouTube feed. You can also subscribe to the SilverTowne Vault Cast in the iTunes store. We thank those of you who have left us some feedback and comments and I appreciate your continued support of the SilverTowne Vault Cast.
Now lets go ahead and get into todays precious metals pricing!
Gold - $1746.40 down $8.70
Silver - $33.22 down .26 cents
Platinum - 1638.00 down $11.00
Palladium - $631.01 up $1.76
Financial News:
UNSUSTAINABLE
When it comes to explaining the problems with our economy, one of the hardest things to do is to get people to understand that we are living in an economic fantasy world that is completely and totally unsustainable. As a nation we consume far more than we produce, we spend far more than we bring in, our debt is growing much faster than our GDP is, our entitlement programs are growing at an exponential rate, our retirement system is a Ponzi scheme and the Federal Reserve is printing money as if there is no tomorrow in a desperate attempt to paper over all of our problems. But we have all grown so accustomed to the debt-fueled prosperity that we have been enjoying for so many decades that it actually feels "real" to most of us. Unfortunately, history has shown us that it is simply not possible to grow your debt faster than your economy indefinitely. At some point your consumption will drop back to a level more equal to your production. Sometimes that adjustment can be gradual, but other times it can be extremely painful. In our case, we have been living way above our means for so long that it would take a major economic miracle just to keep our adjustment to an "exceedingly painful" level. We are living in the largest debt-fueled prosperity bubble in the history of the world, and our unsustainable economy is going to crash and burn at some point. Hopefully it will be later rather than sooner, but a crash is most definitely coming. Read More...
Schiff Predicts Massive Financial Collapse Worse than 2008
Peter Schiff, the author of the 2007 book “Crash Proof,” which accurately predicted the financial downturn of 2008, has struck again. In his new book, the author, who is the CEO and Chief Global Strategist of Euro Pacific Capital, predicts a new crash that will dwarf the recession of 2008. Schiff says that the coming financial cataclysm is not only unpreventable, but government programs meant to alleviate it will ultimately serve only to dramatically deepen the inevitable crash.
In fact, Schiff says the blame for the coming collapse lies partly on the government’s attempts to shore up the economy during the recent crisis. He says that America’s next financial crisis will be worse than the one Europe is currently struggling with.
Finally, Schiff recommends that anyone who doesn’t own precious metals reconsider them. Historically, precious metals have held their value in the face of a devalued dollar. This means that those who invest heavily in them will likely weather the storm largely intact. Unfortunately, it also means that investors who don’t take action now are likely to see precious metal prices skyrocket beyond their reach at the first sign of increasing inflation. Read More...
Slim’s Frisco Acquires AuRico Gold Assets for $750 Million
Billionaire Carlos Slim’s Minera Frisco SAB agreed to acquire mining assets in Mexico from AuRico Gold Inc. (AUQ) for $750 million in what would be the largest gold deal involving a Mexican company.
Slim, the world’s richest person according to the Bloomberg Billionaires Index, is betting precious metals will show resilience as the global economy struggles to grow. The price of gold, which is poised to rise for the 12th straight year, hasn’t dropped below $1,500 an ounce in more than a year. Read More...
If the riches man in the world is buying tons of gold, don’t you think there is a good reason or that? Why would the banks, the government and the wealthy.
Thanks for listening to the Silvertowne vault cast. You can find our show on YouTube and I would love it if you would subscribe and as always our show can also be found 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.
