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 listening in to the SilverTowne Vault Cast. Today on the show we are going to cover some more thoughts from Peter Schiff on gold and the dollar, China is breaking more bullion import records, and Jim Rogers tell us not to sell our gold. All this and more on the SilverTowne Vault Cast.
I want to remind you to subscribe to the SilverTowne Vault Cast on iTunes or YouTube. Your comments and feedback is much appreciated as usual.
On Monday I’m going to be covering the best ways to secure and hide your bullion. I brought that up in the last Vault Cast and I got several comments from people asking me to please put this together.
I’m in the process of doing that now and I plan to dedicate the entire episode on Monday to this topic. So if you are interested in that subject make sure to tune into the show on Monday and let your friends and family know about it as well. I found some pretty interesting and neat idea’s on how do this and I think it will be great for anyone who wants to make sure that their most valuable assets are safe in the event of a robbery or a confiscation.
Now lets get into today's precious metals pricing!
Gold - $1675.39 down $2.04
Silver - $31.76 down $.07
Platinum - $1729.00 down $2.00
Palladium - $760.02 up $.36
Financial News:
Peter Schiff on gold, the dollar, and the U.S. economic collapse
Doug Casey interviews Peter Schiff about the future price of gold as well as the value of the dollar and the future of the U.S. economy.
According to Schiff taxes will go up but the biggest tax will be in the form of inflation. It can be avoiding however by owning gold and diversifying out of the U.S. dollar for your investments and savings.
One problem that Schiff points out is that, unfortunately when prices start rising more rapidly from monetary inflation, most people will have no idea why. They will probably blame the rising prices on greedy businesses and speculators instead of the true culprits: the government and the Federal Reserve. Read More...
U.S. Unemployment: Our Long Economic Nightmare Continues
Last Friday’s “Employment Situation” report from the Bureau of Labor Statistics (BLS) confirmed Thursday’s dismal 4Q2012 GDP reading from the Bureau of Economic Analysis (BEA). Our economic nightmare continues.
During January, the “headline” unemployment rate increased to 7.9%, while the “real” unemployment rate (calculated at the 65.8% labor force participation rate when Bush 43 left office) rose to 11.0%. President Obama’s $862 billion “stimulus” plan had promised to bring that number down to 5.3% by now. It didn’t work.
It is clear that something has gone wrong with the way that the economy builds its stock of nonresidential assets. The process by which capital is marshaled and channeled into startup ventures has also broken down in some way.
The BEA numbers show that the economy is not doing as good a job of converting gross investment into net increases in nonresidential assets as it used to. Let’s look for clues by comparing 1966, a year when both the U.S. economy and the middle class were doing well, with 2009, where both were sinking. Read More...
China's Gold Bullion Imports Jump 94% to New Record
The VOLUME of gold bullion imported to mainland China through Hong Kong nearly doubled in 2012 to hit a new annual record, data showed today.
Figures from the Hong Kong government's Census & Statistics Department released Tuesday said a record 114.4 tonnes of gold was imported to mainland China in December.
That took full-year 2012 imports to more than 834.5 tonnes, reports Bloomberg News – fully 94% above 2011's previous record for gold bullion shipments to China of 431.2 tonnes.
Coming the other way, however, exports of gold bullion from the Chinese mainland into Hong Kong rose faster still. More than tripling from 2011's total of 95.5 tonnes, gold exports from China reached 310.9 tonnes in 2012.
"This year we haven't seen a big build up to the Chinese New Year," he said, explaining that in New Year 2013 shipments of gold bullion have been steady, rather than dramatic, with wholesalers already building stockpiles ahead of time. Read More...
Don’t Sell Your Gold and Silver Coins: Jim Rogers
Gold and silver may be off their highs but that hasn’t hurt demand for gold and silver coins. Sales of silver eagle coins hit a new record last month and gold coin sales in January reached their highest level in almost 19 months.
"You can’t get [silver coins]. They sell out,” says legendary investor Jim Rogers. “Several mints have run out of coins…because everybody’s worried about the future of the world.”
Rogers, chairman of Rogers Holdings and author of the new book, "Street Smarts: Adventures on the Road and in the Markets," tells The Daily Ticker that he “wouldn’t rush in right now” to buy more coins, but he’s not selling them either.
Rogers says he’ll buy more gold only if prices fall further (gold is currently trading 12% below its record high of $1,900).
“Gold has been up 12 years in a row which is extremely unusual for anything," he notes.
Gold and silver, like most commodities, are priced in U.S. dollars. Rogers is not a fan of the greenback but is an owner because other currencies, such as the Japanese yen, are collapsing.
The yen has fallen to a 2-1/2 year low against the U.S. Dollar and has weakened against the euro as a result of the Bank of Japan's aggressive easy money policy.
The man who heads the Bank of Japan, Governor Masaaki Shirakawa, said Tuesday he would step down March 19, three weeks earlier than planned. He was presumably under pressure to ease even more aggressively in order to reverse Japan’s long-term deflation. Investors have turned bearish on the yen but Rogers says he is "contemplating buying some" because of the decline.
When asked which currency holds the most promise now, Rogers says it might be the Russian ruble although “he’s stunned” to hear himself say that.
”Russia has massive problems…that’s why the ruble is so cheap," he notes. "There’s great change taking place in Russia and whenever you can find a cheap place with massive positive change taking place you should buy all you can.”
In the meantime, he advises investors not to sell their gold and silver coins. "There is no paper money in 2014 or 2015 that will be worth much of anything," he says.
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.
