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 to the Thursday edition of the SilverTowne Vault Cast. As usual, we have a lot to cover today. There is no shortage of information on this topic my friends. The world is waking up to the reality of our situation. The proof of that is in the articles we are seeing but more importantly the proof is in where people are spending their money. As an example we are going to talk a little bit more about how the Silver Eagle sales have broken sales records. Donald trump is warning Americans about our financial ruin that is coming quickly. Americans are not going to be able to save much money this year thanks to our new tax hikes and finally 81 gold coins were found in a pub that had burned down.
So lot’s of interesting topics, some scary topics and some fun topics too. I want to thank you all for supporting this show. If you’re new to the show and you want to know how you can support The SilverTowne Vault Cast; it’s actually really simple. Leave comments on our YouTube videos or in the iTunes store and share this show on your Facebook page and other social outlets and get the word out about how important it is to own precious metals and make people aware of the economic trouble that we are in. A lot of people are blind to this. They either don’t care or don’t have the time to care about it or they are afraid to except the truth or millions of other reasons. The best thing you can do is make people aware.
Now lets get into today's precious metals pricing!
Gold - $1673.55 Down $2.99
Silver - $31.93 Down $.05
Platinum - $1666.00 Down $14.50
Palladium - $733.00 Down $10.28
Financial News:
Billionaire Tells Americans to Prepare For 'Financial Ruin'
The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.
That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”
According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”
He goes on to point out that the downgrade of U.S. debt is inevitable.
“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”
Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.
“Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.”
While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist.
Without earning celebrity status or having his own television show, Robert Wiedemer did something else that grabbed headlines across the country: He accurately predicted the economic collapse that almost sank the United States.
In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.
But Wiedemer’s outlook for the U.S. economy today makes Trump’s observations seem almost optimistic.
Where Trump sees ballooning debt and a credit downgrade, Wiedemer sees much more widespread economic destruction.
In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”
When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”
The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably. Read More...
2013 Silver Eagle Bullion Coins Hit Sales Record in Return
2013 American Silver Eagle bullion coins notched an all-time monthly record Tuesday, Jan. 29, 2013, after returning from a more than one-week sales suspension.
January sales of the 99.9% pure silver bullion coins now total 7.42 million, according to United States Mint data. That handily breaks the previous monthly sales record of 6.422 million from January 2011. The total should continue to advance in the next two days, though not to the potential possible. The U.S. Mint implemented an allocation process to limit dealer orders and maintain Silver Eagle supplies.
This year’s 2013 American Silver Eagle bullion coins launched on Jan. 7, 2013 and scored an opening-day sales record of 3.937 million. The robust start happened after the U.S. Mint’s inventory of 2012 American Silver Eagle coins sold out three weeks earlier. In play was the resulting window of bottled up demand paired with always exceptional interest in a year’s newly dated coins. Read More...
81 gold coins found during pub work
Builders carrying out stabilization work on an old pub building have unearthed one of the most significant finds of gold coins ever recorded in Ireland.
Eighty-one coins, mostly guineas and half guineas dating back to the 17th century, were dug up from clay underneath floorboards in a fire-damaged premises on Main Street, Carrick-on-Suir, Co Tipperary.
Marie McMahon, curator at South Tipperary Museum in Clonmel, held the coins in storage before they were handed over to the National Museum of Ireland.
"We were told that they were gold and you never really believe it, normally you would find silver, but they were in fantastic condition," she said.
"There are one or two coins buckled and one tarnished, but overall fantastic condition. They'd be incredibly valuable but legally we would not be allowed to discuss that."
Experts at the National Museum, which is putting the coins on show for the first time on Wednesday, described the find as the most important in decades. Read More...
Americans expected to save less in 2013 economic collapse due to tax hikes
The fiscal cliff deal, otherwise known as the American Taxpayer Relief Act of 2012 (ATRA), debate that transpired this month between President Barack Obama and the Republican leadership generated a lot of media buzz regarding taxes and spending. The agreed deal will see an increase in taxes not just for the affluent but also everyone who maintains employment.
Negotiations led to a two percent increase in the payroll tax – a tax that funds Medicare and Social Security – to 6.2 percent on earned wages up to $113,700. For the past two years it has been at 4.2 percent when it was cut in an effort to stimulate the economy.
It is estimated by the Tax Policy Center (TPC) that the tax hike will cost about 160 million Americans workers on average $700, while a middle class family earning $50,000 each year will fork over an additional $1,000, a tremendous problem for millions of families across the country, who are heavily in debt, have a low savings rate and whose earnings remain stagnant.
By the end of 2013, it is expected that American workers will slash their savings and retirement in order to continue their standard of living. The TPC put forward a tax calculator for six different types of household situations and varying income levels at the 20th, 50th, 80th, 99th, and 99.9th percentiles.
A single person, 30, for instance, earning $50,000 will see $1,000 less in 2013. This means $1,000 will not be put towards retirement and could cost that individual a total of approximately $236,000 over a 36-year period. Read More...
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.
