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 and today I have some crazy information lined up for you. This is a show that is going to really be an eye opener for you about the state of our economy and the importance of owning precious metals. Every week it get’s easier and easier to put this information together because there are so many people all over the web writing and reporting on these statistics, facts and issues.
Now lets get into today's precious metals pricing!
Gold - $1689.65 Up $4.75
Silver - $31.99 UP $.12
Platinum - $1670.00 Up $6.00
Palladium - $715 Down $1.74
Financial News:
Germany Repatriating Gold From NY, Paris 'In Case Of A Currency Crisis
Germany’s central bankannounced Wednesday it will repatriate gold reserves held at the New York Fed and the Banque deFrance in order to have “the ability to exchange gold for foreign currency […] within a short space of time.”
Officials at the Bundesbank indicated they have no intention of selling gold, but acknowledged the move is “preemptive” in case a “currency crisis” hits the European Monetary Union. While they tried to minimize the importance of the move at the Bundesbank, repatriating gold is a clear indication of public loss of confidence on foreign central banks and the integrity of the monetary union. Over the past few years, Venezuela, Libya, and Iran have also repatriated their gold holdings.
“No, we have no intention to sell gold,” a Bundesbank spokesman said on the phone Wednesday, “[the relocation] is in case of a currency crisis.” The argument is mildly paradoxical: the officially stated reasons for the repatriation of part of its gold holdings is to build trust and confidence domestically, and to have the ability to sell gold quickly If needed.
Specifically, the Bundesbank will be bringing to Frankfurt all of its 374 metric tons stored at the Banque de France (11% of its total reserves), and 300 metric tons held in the vault of the New York Fed, reducing its share in the U.S. from 45% to 37%. At market prices, that’s about €27-billion ($36 billion) worth of physical gold bars. According to the Financial Times, it will be the biggest planned gold transport on record.
The German central bank is looking to relocate 50% of its total reserves to Frankfurt by 2020; the EU’s largest economy is the world’s second largest holder of gold reserves, trailing only the U.S. Why 50%, one may ask? “It’s just a benchmark that makes sense,” a spokesman explained. Read More...
50 Shocking Questions That You Should Ask To Anyone That Is Not A Prepper Yet
Perhaps you are reading this and you are thinking that people who are "preparing for disaster" are being rather foolish. Well, I encourage you to read the list of questions that I have compiled below and come to your own conclusions.
The following are 50 shocking questions that you should ask to anyone that is not a prepper yet...
• Why are sales of physical silver coins breaking all sorts of all-time records? The U.S. Mint is on pace to sell more silver eagles during the first month of 2013 than it did during the entire year of 2007.
• Why has Germany announced that it will be moving gold from New York and Paris to its own vaults back home? Is this a sign of a breakdown in trust among global central banks?
• Why is China systematically hoarding gold?
• Why have billionaires such as George Soros and John Paulson been hoarding massive amounts of gold?
• Why are billionaires buying up so much ranch land up in Montana?
• Why is Russia warning that we are rapidly approaching a global "currency war"?
• If the economy is in good shape, then why are more than one out of every four U.S. workers with a 401(k) raiding those funds in order to pay current expenses?
• Why does the Federal Reserve continue to insist that the economy is "improving" when it obviously is not?
• Why can so few Americans explain how money is created in the United States?
• Why has the U.S. dollar declined in value by well over 95 percent since the Federal Reserve was created?
• Why is the U.S. national debt more than 5000 times larger than it was when the Federal Reserve was created?
• Why isn't the mainstream media in the U.S. discussing the fact that the U.S. dollar is in danger of losing its status as the primary reserve currency of the world?
• Why don't more Americans know about the quadrillion dollar derivatives bubble?
Read More...
Student loan delinquency rate now higher than all other consumer loans
For the first time in the history of the United States, the delinquency rate on student loans is higher than the rate of all other consumer loans, including credit and car loans. According to the latest data from the New York Federal Reserve, total student loan debt stands at $956 billion.
Economic Collapse News first reported in late November that the student loan bubble was collapsing due to the delinquency rate transpiring. The Fed’s Quarterly Report on Household Debt and Credit showed a “red flag” and that there was a growing problem because 11 percent of student loans were 90 days or more past due. The infographic showed that the delinquency rate rose by about five percent since 2005.
Most borrowers are under the age of 30, but for the past eight years, the number of Americans over the age of 30 attending school has been steadily rising (the research did not show the demographics of student loan debt or the default rate). Read More...
Is retirement dead in America?
The Washington Post published an interesting article Monday that showed one in four Americans with 401(k) and other retirement savings accounts are using them to pay for their current expenses. For millions of Americans, they’re using a quarter of the annual $293 billion deposited for retirement for the now.
According to the study by financial advisory firm HelloWallet, the quarter of Americans are using the withdrawals, loans or cash-outs to pay their mortgages, credit card debt and other monthly bills. One-third of these individuals are in their 40s, a group closing in on retirement.
“But millions of Americans, caught between flat wages and high expenses for everything from sending children to college to making home repairs, feel as though they have little choice. The withdrawals have grown substantially in the wake of the financial crisis,” the article stated. 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.
One of the most common ways to invest in 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.
