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 episode of the SilverTowne Vault Cast. I have to tell you, there is no shortage of articles and post about our current economic situation and the coming collapse. It’s more obvious now then ever before that people are waking up and more and more people are well aware that this is coming and coming quickly.
If you have not already gotten your hands on some gold or silver, then I would like to encourage you to do so soon. Even if its only an ounce of silver a month. I truly believe and I realize I could be wrong, but I truly believe that the window of opportunity to get your hands on some gold or silver before the price goes through the roof is closing quickly.
I honestly don’t think we have much more time. I could be way wrong and I hope that I am. There is no denying that there are a lot of people, banks and governments that see this coming. Billionaires are buying gold, governments are buying gold, and banks are buying gold. Now is the time to get prepared my friends, not after the disaster hits. If you wait till it all comes crashing down then it will be to late.
Today on the vault cast we are going to talk about China taking over as the leader in gold demand, we are going to talk about how monopoly and the economy, in one of my favorite articles on the collapse topic that I have read in a long time and then finally we are going to talk a little bit more about inflation. I think this is going to be one of the most interesting episodes yet.
Before we get into all this content let me first remind you to subscribe to the Silvertowne vault cast on YouTube or in the iTunes store. Please take the time to leave some feedback and comments. If your subscribed through iTunes then I would really appreciate it if you would spare just a few minutes to give us a star rating and leave some feedback.
Now lets go ahead and get into today's precious metals pricing!
Gold - $1737.71 Up 7.22
Silver - $32.65 Up .11
Platinum - 1564.00 Up 11.00
Palladium - $604.01 Up 3.50
Financial News:
China to overtake India in overall gold demand
China's gold demand is expected to grow 1 percent this year to a record of around 860 tonnes, the global head of metals at consultancy Thomson Reuters GFMS said on Thursday, with both jewelry and investment sales rising.
That increase means China will overtake India as the world's biggest consumer of gold for the first time on a yearly basis, Philip Klapwijk told the online Reuters Global Gold Forum.
"China will overtake India ... both in overall demand terms and as the world's largest jewelry market," he said.
He said China's jewelry demand is expected to climb to around 520 tonnes from 515 tonnes in 2011, while investment is seen at around 270 tonnes, up from 265 tonnes last year. The balance, of around 70 tonnes, is industrial consumption, Klapwijk said.
China is already the main consumer of a range of commodities, including copper, coal and iron ore. Read More...
Monopoly Endgame for the Global Economy
Let’s face it, if your opponent in Monopoly scoops up Boardwalk, Park Place, North Carolina Avenue, Pacific Avenue, both utilities, and the four railroads – that’s game over.
The other players, all of whom have been relegated to mere consumers instead of property owners, will slowly go bankrupt having to pay higher and higher costs for rent and services, utilities, and transportation. Eventually, one player has all the money and the losers have to clean up the board game and put it away.
But let’s assume the Monopoly game doesn’t end there. Let’s assume the broke players keep rolling the dice and keep going around the board. They essentially keep living their lives desperate and broke, using their credit cards and home lines of credit to stay in the game. Maybe they end up in jail. If they’re lucky, they land on Baltic Avenue and can afford to stay a night in the slums.
Meanwhile, the oligarch who owns everything can no longer collect any income. The other players can’t afford to pay rent, they can’t pay utilities, and they can’t ride on the railroads. Eventually, without consumers spending money, the Monopoly oligarch goes broke, too. His properties and businesses disappear and suddenly everyone is broke!
That’s what Monopoly’s version of economic collapse looks like. And it’s very similar to what global economic collapse in the real world looks like, too.
This is similar to a Monopoly situation in which just one player owns 40% of the board. And just like it’s game over for Monopoly, it’s game over for the global economy, too.
Right now, you can count the number of banks that own half of all the wealth in the U.S. economy on just one hand. There are just five of them and they are the usual suspects: Goldman Sachs, JP Morgan Chase, Wells Fargo, Bank of America, and Citigroup. Their total assets equal 8.5 trillion, which is 56% of our entire economy.
In 2007 we all learned the consequences of disproportionate wealth and power concentrated in the hands of just a few companies. When one company begins to fail, they all begin to fail. And when they all fail, well, that’s what collapse looks like.
That why policymakers labeled the banks “Too Big to Fail” and bailed them out to prevent total collapse. Today, these banks are even bigger. And thanks to globalization, their tentacles are wrapped around the entire world’s economy. It won’t just be the United States imploding the next time these giants fall: it will be much of planet Earth itself.
The violence on display in Greece is a consequence of the Monopoly endgame the world economy is in. No matter how much austerity that nations like Greece, Spain, and Europe endure, these corporate masters will be unsatisfied and they’ll demand even more. They’ll take their harvesting machines to Germany, the U.K., and eventually the United States. In fact, they’ve already begun. Until eventually they’ve destroyed the one thing that keeps their own hearts beating: working people. Read More...
When Infinite Inflation Isn't Enough
If no one seems to care that the Titanic is filling with water, why not drill another hole in it? That seems to be the M.O. of the Bernanke Federal Reserve. After the announcement of QE3 (also dubbed "QE Infinity") created yet another round of media chatter about a recovery, the Fed's Open Market Committee has decided to push infinity a little bit further. The latest move involves the rolling over of long-term Treasuries purchased as part of Operation Twist, thereby more than doubling QE3 to a monthly influx of $85 billion in phony money starting in December. I call it "QE3 Plus" - now with more inflation!
Don't Gamble Your Savings on Politics
For investors looking to find a safe haven for their money, QE3 Plus is a strong signal that the price of gold and silver are a long way from their peaks. Gold hit an eleven-month high at the beginning of October after the announcement of QE3, but the response to the Fed's latest meeting was lackluster. When the Fed officially announces its commitment to QE3 Plus in December, I wouldn't be surprised to see a much bigger rally. For that matter, many are keeping an eye on the election outcome before making a move on precious metals. 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.
