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 believe I have an interesting show lined up for you today. We are going to talk about Germany and how they are wanting there gold back, I’m going to read an article that claims the US dollar may rally, and we have another article that warns of a coming collapse but before I get into those I want to remind you to subscribe to the SilverTowne Vault Cast in YouTube or in iTunes. You can leave comments and feedback there and never have to worry about missing an episode.
Now lets go ahead and get into todays precious metals pricing!
Gold - $1722.00 Up $2.12
Silver - $32.49 Up .24 cents
Platinum - 1570.00 up $7.00
Palladium - $608.00 up $10.18
Financial News:
Why do the Germans want their gold back?
LONDON (MarketWatch) — Where does Germany keep its gold reserves? It might sound like a silly question. In Germany, of course. Probably in a very deep vault somewhere in Frankfurt, surrounded by the best security systems that Teutonic technical brilliance can create.
As it turns out, however, that is the wrong answer.
Much of the German gold, the second largest national reserves in the world, is held in New York, London and Paris. Now there is a campaign under way in Germany to bring the metal back home — and it is gathering strength all the time.
What does the campaign tell us about the state of the global economy? Three things.
One, this generation of Germans is far more assertive about their national interest than their parents were. For 50 years, most Germans were anxious to show they were citizens of the world. They dealt with post-war guilt by signing up for every international body available. Now they are quite happy to be citizens of Germany, and to stand up for their own interests.
Two, trust in financial institutions is dwindling all the time. Central banks built up a system of debits and credits because it was easier to move gold around on a ledger than to move it around on trucks. There are few more tempting targets for thieves, after all, than a cargo of ingots.
So it made sense for German gold to be stored elsewhere. But now people no longer trust those systems. They are increasingly unhappy with assets that are simply recorded on a bank’s balance sheet somewhere; they want something physical they can see and touch. That is true of national gold reserves, but it is increasingly true of other assets as well. Read More...
The Fiscal Cliff's Biggest Surprise Could Be a Rising U.S. Dollar
My grandmother Mimi had a saying that was as blunt as it was uncouth. "When the stuff hits the fan," she used to say, "it will not be evenly distributed."
This one came up often when she sensed that world events were about to take a turn for the worse.
You've heard me mention Mimi before. She was widowed at a young age and went on to become a savvy global investor long before people thought to look beyond their own backyard.
Is There a U.S. Dollar Rally Brewing?
Conventional wisdom, under the circumstances, is that the U.S. dollar will become even more worthless than it is now.
I don't think so. In fact, I expect the U.S. dollar to strengthen significantly. Here's why...
When the shooting started in the Middle East, bankers came running. When the fiscal crisis began, the dollar ran some more. When the European crisis broke, people couldn't get enough dollars.
And as China had slowed, the dollar has enjoyed newfound stability. Even during last year's Congressional debt ceiling donnybrook for example, the dollar outperformed the Euro as investors sought refuge.
History shows that bankers from Shanghai to Milan and all points in between run to the dollar when global instability raises its ugly head and the fiscal cliff or cliffs would certainly constitute instability.
And that reminds me of something else Mimi used to allude to all the time.
"Keith," she would say as we enjoyed some piping hot pastrami sandwiches and cold beer together (one of her favorites), "much of the world may hate our guts, but when the fur starts flying they love our money." Read More...
Our economic house of cards: When will it collapse?
WASHINGTON, D.C., October 30, 2012 — Looking at our national debt is a pretty scary thing. It is in excess of $16 trillion and growing at a rate of about $47,000 per second. Whether you blame this administration or the past one, or even the Federal Reserve, we have a very big problem.
Since the creation of the Federal Reserve, we have always been in debt. We have never decreased the debt. Before you leap to your feet to remind us that we had a surplus under President Clinton, let’s understand that there is a big difference between deficit and debt.
Think of it like this; if you are $100 short this month on your bills, you have a deficit of $100. If you add up everything you owe on your car, your mortgage, your credit cards totals, and so on, that total is your debt. If you have $100 left after all your bills are paid this month, you have the “Clinton surplus” which ignores the total debt.
When President Clinton took office, the national debt was about $4.4 trillion. When he left office, it had grown to about $5.8 trillion. I am not saying that that is bad (far from it by today's standards), but it is what it is.
Here is our big problem: We are bankrupt, and very soon, it will get much worse. Read More...
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[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.
