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 vault cast. Today we are going to talk about inflation and give some statistically proof of that, we are going to discuss what some experts are saying about gold and then I have some thoughts and questions to ask you about the large amounts of gold being imported by Germany and China but before we get into all this information let me take a minute to remind you to visit us on YouTube or iTunes and subscribe and leave some comments. I try and respond to nearly every comment that gets left on our YouTube channel and I appreciate your feedback and thoughts.
Now lets go ahead and get into today's precious metals pricing!
Gold - $1681.34 Up $4.07
Silver - $30.92 Up .05 cents
Platinum - 1538.00 down $2.50
Palladium - $593.00 down $2.00
Financial News:
Somebody Should Start The 'Stuff Costs Too Much' Party
Stuff costs too much. Seriously. Every time I go to the grocery store these days, I am absolutely horrified by the prices. I try not to buy anything that is not on sale, but the problem is that I am discovering that the new sale prices are the old regular prices. So now paying what used to be "full price" is supposedly a "good deal". The other way that they are trying to hide rising prices is by shrinking package sizes. As if we wouldn't notice that a box of 21 garbage bags is now being sold for the exact same price that a box of 25 garbage bags used to be sold for. It is one of my pet peeves. I feel like I am in the middle of some bizarre movie entitled "The Incredible Shrinking Dollar". Sadly, I am far from alone. There are millions upon millions of American families that are seeing their expenses continue to rise even as their paychecks remain the same. But neither Barack Obama nor Mitt Romney seems very concerned about inflation. In fact, the Federal Reserve, QE3 and Ben Bernanke were not even mentioned in any of the three presidential debates. So I think that somebody should start the "Stuff Costs Too Much" Party. Inflation is a tax which is destroying the value of each dollar that we hold a little bit more every single day, and the American people deserve to know the truth about what is going on
A recent article by Benny Johnson detailed how the prices of many of the things that we buy on a regular basis absolutely soared between 2002 and 2012. Just check out these price increases...
Eggs: 73%
Coffee: 90%
Peanut Butter: 40%
Milk: 26%
A Loaf Of White Bread: 39%
Spaghetti And Macaroni: 44%
Orange Juice: 46%
Red Delicious Apples: 43%
Beer: 25%
Wine: 60%
Electricity: 42%
Margarine: 143%
Tomatoes: 22%
Turkey: 56%
Ground Beef: 61%
Chocolate Chip Cookies: 39%
Gasoline: 158%
So what will the next ten years bring? Unfortunately, we are already being told that it looks like inflation is going to start accelerating. Read More...
“Experts” Shy Away From Short-Term Gold And Silver Price Forecasts
This past week there were two investment conferences held simultaneously—the decades-old New Orleans Investment Conference and the 10th Annual Silver Summit. I flew to Spokane, Washington to make a presentation to the attendees at the Silver Summit.
There were a number of speakers at the Silver Summit reviewing the state of the US and global economies and the supply and demand factors for silver and other precious metals. I heard several common themes repeated by just about all of these analysts.
First, the speakers expect the US dollar to suffer from hyperinflation within three years, with the result that the US dollar will fail as a circulating currency.
Second, as the dollar continues to drop, look for gold and silver prices to soar and trade at multiples of current levels.
Third, the commodity exchanges trading paper contracts in gold and silver will fail because they simply don’t have sufficient inventories to cover their liabilities. The coming crash will result from a “commercial signal failure.”
Fourth, people who thought they held a position in gold or silver because they own commodity futures contracts, shares of exchange traded funds, or certificates for physical metal stored elsewhere are at high risk of finding out that they don’t own any precious metals.
Fifth, other major currencies around the world, with the possible exception of the Chinese yuan, will also be inflated to compete with the destruction of the US dollar. Read More..
Germany and China importing gold not exporting
Right now we have Germany making moves to get there gold back from the US. Its obvious they want to have their gold closer to home. It's hard to say what their reasoning is. Could simply be because of financial crisis the world is in, they could be afraid of a gold confiscation, I know that's something that troubles my mind from time to time.
China is also importing tons of gold. The funny thing about that, is the fact that China is the worlds largest producer of gold. Yet they are not exporting their gold they are holding it. Why would they do this? What are they preparing for? Right now China is the highest growing consumer of gold and silver. Governments and citizens around the world are preferring precious metals to cash weather that be the dollar or the euro or whatever. People are waking up to the fact that fiat currency is a failure. This only leaves room for the prices of Gold and Silver to go up.
What do you think will happen as other nations stop storing their wealth in US dollars and start storing there wealth in Gold? What do you think that will mean for the dollar?
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.
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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.
