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
Thanks for joining me today for another SilverTowne Vault Cast. I hope you had a great new years holiday and it’s nice to be a live in 2013. It’s really hard to believe that it’s already the new year. I’m glad that the world didn’t end and I’m sure you are as well.
Today we are going to cover some tuff information. We have some 2013 predictions that are not easy to hear and quite alarming but I believe that they are very accurate and should be taken very seriously. I think it’s important more then ever to own some precious metals like gold and silver. I think our countries poor money management is going to be coming home to roost soon and our dollar is going to get even worse in 2013. I believe owning gold and silver is the best way to hedge against the coming hyperinflation.
There is always hope however. We can start making good decisions our selves that will increase our chances of getting through these troubling times.
Now lets get into today's precious metals pricing!
Gold - $1675.29 Down $10.85
Silver - $30.72 Down $0.25
Platinum - $1567 Up $6.50
Palladium - $700.00 Down $1.56
Financial News:
Gold regains strength, US fiscal crisis ends
Gold rebounded from intraday lows on Wednesday after last-minute talks to end the U.S. "fiscal cliff" crisis showed signs of progress.
A weaker US dollar also lifted gold, which was likely to rise further as equities firmed on hopes the House of Representatives would vote to avert tax rises and spending cuts that are technically already in force, and prevent the country from plunging into recession.
Gold was steady at USD 1,675.50 an ounce by 0232 GMT after hitting a low around USD 1,670. Gold ended up around 7 percent in 2012 - the 12th straight year of gains for the precious metal, which makes it one of the longest bull runs ever for a commodity.
"I still believe at the end of the day the talks on the fiscal cliff should go through but of course not without some twists and turns," said Brian Lan, managing director of GoldSilver Central Pte Ltd in Singapore.
US gold for February was steady at $1,676.50 an ounce.
After a day of deliberation, there appeared to be enough Republicans in the House ready to back a Senate bill that would raise taxes on the wealthiest Americans and close a crucial chapter of the budget dispute that has consumed Washington for months.
Strictly speaking, the United States went over the cliff in the first minutes of the New Year because Congress failed to produce legislation to halt $600 billion of tax hikes and spending cuts scheduled for this year that started kicking in on January 1.
A failure to clinch a deal may spur safe-haven buying of gold, but since many investors have both equities and gold in their portfolios, the metal may also track stock markets higher if an agreement is reached.
"Whatever happens in Washington, we suspect gold will likely do better over the next few weeks as the colossal failure of political will to get America's fiscal house in order should provide fodder for the gold bugs to bid prices higher," Edward Meir, metals analyst at brokerage INTL FCStone, said in a note. Read More...
16 Things About 2013 That Are Really Going To Stink
The beginning of the year has traditionally been a time of optimism when we all look forward to the exciting things that are going to happen over the next 12 months. Unfortunately, there are a whole bunch of things about 2013 that we already know are going to stink. Taxes are going to go up, good paying jobs will continue to leave the country, small businesses will continue to be destroyed, the number of Americans living in poverty will continue to soar, our infrastructure will continue to decay, global food supplies will likely continue to dwindle and the U.S. national debt will continue to explode. Our politicians continue to pursue the same policies that got us into this mess, and yet they continue to expect things to magically turn around. But that is not the way that things work in the real world. Bad decisions lead to bad outcomes. Instead of realizing that what we are doing is not working, our "leaders" continue to give us more of the same. As a result, there are going to be a lot of things about 2013 that will not be great. Sticking our heads in the sand and pretending that everything will be "okay" somehow is not going to help anyone. We've got to make people understand exactly what is happening and why it is happening if we ever hope to see real changes.
The following are 16 things about 2013 that are really going to stink...
• Taxes Are Going To Go Up
• The Middle Class Is About To Be Scorched By The Alternative Minimum Tax
• The Economy Will Continue To Get Worse
• Good Paying Jobs Will Continue To Be Shipped Out Of The United States
• Small Businesses Will Continue To Be Destroyed
• Hunger And Poverty Will Continue To Explode To Unprecedented Levels
• The Number Of Americans On Food Stamps Will Continue To Increase
• Millions Of Americans Are About To Lose Their Unemployment Benefits
• Our Infrastructure Will Continue To Rot And Decay
• State And Local Governments Will Find Ways To Squeeze Even More Money Out Of Us
• Drug Cartels Will Continue To Easily Cross Our Borders And Terrorize Our Citizens
• Social Decay Will Continue To Accelerate
• Global Food Supplies Will Continue To Dwindle
• Wall Street Will Continue To Resemble A Giant Casino
• The U.S. National Debt Will Cross The 17 Trillion Dollar Mark
Read More...
A Horrific Economic Collapse Is On The Way
Will this be the last normal holiday season that Americans ever experience? To many Americans, such a notion would be absolutely inconceivable. After all, in the affluent areas of the country restaurants and malls are absolutely packed. Beautiful holiday decorations are seemingly everywhere this time of the year and children all over the United States are breathlessly awaiting the arrival of Santa Claus. Even though poverty is exploding to unprecedented levels, most families will still have mountains of presents under their Christmas trees. Of course a whole lot of those presents were purchased with credit cards, but people don’t like to talk about that. It kind of spoils the illusion. Sadly, the truth is that our entire economy is a giant illusion. The extreme prosperity that we have been enjoying has been fueled by debt, and any future prosperity that we will experience is completely dependent on our ability to go into even more debt. The total amount of debt in our economy is almost 10 times larger than it was just 30 years ago, but we don’t like to think about that too much. Most Americans are way too busy living the good life to be bothered with “doom and gloom”. Well, get ready to say goodbye to normal. As history has shown us, no financial bubble lasts forever, and time is rapidly running out for us.
You know that the hour is late when even mainstream news sources start publishing articles with titles such as this: “Will 2013 Mark the Beginning of American Decline?”
That article appeared on Bloomberg.com the other day, and it was written by Simon Johnson, a former chief economist at the International Monetary Fund. He is convinced that a day of reckoning is coming for U.S. government finances, and he seems resigned to the fact that we will not be ready when that day arrives…
“Sooner or later, it will be America’s turn to fall out of favor with investors and to see its own interest rates rise. It is hard to know when that day will come, or precisely what pressures the country will face.
Let me only venture one forecast: We will not be ready.” Read More...
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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.
