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 another exciting or maybe hard to hear SilverTowne Vault Cast. One thing is for sure lady’s and gentlemen, we are living in very exciting, interesting and scary times. The world as we have known it is changing and there is a lot of uncertainty out there.
I think for me that’s what makes it scary. The not knowing. I believe strongly based on the facts, based on history more then anything, that incredibly hard times are coming. However I have no idea when. Could be before the year is up. I really hope not because the only thing worse then a complete collapse is a complete collapse in the middle of the winter. Could be ten years down the road. Could happen in a matter of days or it could slowly get worse over a period of years. One thing is for sure, and that is that our poor spending habits is eventually going to catch up to us. History shows that is always does. That’s why I believe in holding physical precious metals. I think that it’s important to own something that has real value. Now I want to also remind you that I am not a financial adverser, I’m not hear to give you investment advice and I’m not qualified to do so. I’m doing this to help you stay informed about what’s going on in the world and to recommend that you protect your wealth by OWNING physical precious metals like gold and silver.
Now, before we get into our metals pricing and our news for todays episode I want to remind you that you can find the SilverTowne Vault Cast on YouTube and in the iTunes store. You can subscribe to either on of these channels and never miss an episode. I would also appreciate it if you would take a few minutes to leave us some feedback on one of these channels. The YouTube version of the show is much more interactive for you now, you will see slides of the articles and more to help you follow along with the topics and I leave links in the show notes so that you can go to and read the full article so I hope you enjoy that improvement. If you do then please let me know by leaving a comment and I thank those of you who have already done so.
Now lets go ahead and get into todays precious metals pricing!
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:
21 Signs The Global Economic Crisis Is Headed To A Whole New Level
The global debt crisis has reached a dangerous new phase. Unfortunately, most Americans are not taking notice of it yet because most of the action is taking place overseas, and because U.S. financial markets are riding high. But just because the global economic crisis is unfolding at the pace of a “slow-motion train wreck” right now does not mean that it isn’t incredibly dangerous. As I have written about previously, the economic collapse is not going to be a single event. Yes, there will be days when the Dow drops by more than 500 points. Yes, there will be days when the reporters on CNBC appear to be hyperventilating. But mostly there will be days of quiet despair as the global economic system slides even further toward oblivion. And right now things are clearly getting worse. Things in Greece are much worse than they were six months ago. Things in Spain are much worse than they were six months ago. The same thing could be said for Italy, France, Japan, Argentina and a whole bunch of other nations. The entire global economy is slowing down, and we are entering a time period that is going to be incredibly painful for everyone. At the moment, the U.S. is still experiencing a “sugar high” from unprecedented fiscal and monetary stimulus, but when that “sugar high” wears off the hangover will be excruciating. Reckless borrowing, spending and money printing has bought us a brief period of “economic stability”, but our foolish financial decisions will also make our eventual collapse far worse than it might have been. So don’t think for a second that the U.S. will somehow escape the coming global economic crisis. The truth is that before this is all over we will be seen as one of the primary causes of the crisis.
Here are a few of the signs that are listed in this article, I won't read them all but there will be a link to this article on the show notes weather your reading it from silvertowne.com or the YouTube video.
Back in the year 2000, the ratio of total debt to GDP in Spain was 192 percent. By 2011, it had reached 363 percent.
Record amounts of money are being pulled out of Spanish banks, and many large Spanish banks are rapidly heading toward insolvency.
Manufacturing activity in Spain has contracted for 17 months in a row.
It is being projected that home prices in Spain will fall by another 15 percent by the end of 2013.
The unemployment rate in France is now above 10 percent, and it has risen for 16 months in a row.
There are signs that Switzerland may be preparing for “major civil unrest” throughout Europe.
The former top economist at the European Central Bank says that the ECB has fallen into a state of “panic” as it desperately tries to solve the European debt crisis.
According to a recent IMF report, European banks may need to sell off 4.5 trillion dollars in assets over the next 14 months in order to meet strict new capital requirements.
In August, U.S. exports dropped to the lowest level that we have seen since last February.
Economics Professor Barry Eichengreen is very concerned about what is coming next for stocks in the United States…
Read More...
Peter Schiff Talks Gold, Recession, China at Commodities Conference
Starting with gold, Schiff was quick to put together his case for the asset amid all of the dollar-printing and fear over the economy. There is no such thing as a sure thing when it comes to investing, he noted, but gold is the closest thing he has ever seen to being a sure thing. The dollar will eventually depreciate as Bernanke and the Fed continue to print money at will with the new round of open-ended quantitative easing, leaving a bright future for gold. Schiff was also quick to note, however, that gold should not be seen as an alternative to stocks, but rather as a store of value. Read More...
Hyperinflation in America: When a Loaf of Bread is $3 Billion
Truth is, it would be a nightmare.
In an episode of hyperinflation, money loses value so rapidly that people spend it as quickly as possible, which only feeds the cycle of pushing prices higher and higher at a faster and faster rate.
Imagine prices at the food store and gas pump not just going up a few cents at a time, but doubling in a matter of months, weeks, or even days.
And now some economists and market experts think many of the ingredients for hyperinflation are brewing in America.
Cashin noted that hyperinflation can sneak up in that it often appears at first to be only higher-than-normal conventional inflation.
Going back to his Weimar example, Cashin used the price of a loaf of bread to illustrate this.
In 1914, before World War I, a loaf of bread in Germany cost the equivalent of 13 cents. Two years later it was 19 cents, and by 1919, after the war, that same loaf was 26 cents - doubling the prewar price in five years.
Bad, yes -- but not alarming. But one year later a German loaf of bread cost $1.20. By mid-1922, it was $3.50. Just six months later, a loaf cost $700, and by the spring of 1923 it was $1,200. As of September, it cost $2 million to buy a loaf of bread. One month later, it cost $670 million, and the month after that $3 billion. Within weeks it was $100 billion, at which point the German mark completely collapsed.
No one can predict precisely when, or even if, an episode of hyperinflation might strike. But because the consequences would be so devastating, it bears watching no matter how slim the possibility.
Hyperinflation in America would create havoc in the markets. Bonds would become toxic and stocks would plummet. But precious metals like gold and silver would soar, as would commodities like oil, copper and corn. Foreign currencies would also skyrocket against the dollar.
"If you begin to see not just the first signs of inflation, but acceleration - it will come very fast - then you have to think about how you are protected," Cashin said, advising people to make sure they're invested in hard assets like commodities or real estate.
But most of all, Cashin urges that Americans stay vigilant. Read More...
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 hold 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.
