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.
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Thanks for joining me for the SilverTowne Vault Cast. This information just keeps getting crazier, closer and much more real and today is no exception. Lots of economic collapse news today and we will talk about gold and silver as usual.
I think we are now racing towards this collapse at warp speed. There is so much information out there to suggest that this thing is going down and going down soon. Don’t take my word for it though, make sure you do your own research. I will make sure to post links to these articles on YouTube and on the SilverTowne website so that you can go and see for yourself and create your own opinion.
Now let’s get into today's precious metals pricing!
Gold - $1592.60 up $11.50
Silver - $29.14 up $ .41
Platinum - $1624.00 up $18.50
Palladium - $747.00 up $13.48
20 Signs That The U.S. Economy Is Heading For Big Trouble In The Months Ahead
Is the U.S. economy about to experience a major downturn? Unfortunately, there are a whole bunch of signs that economic activity in the United States is really slowing down right now. Freight volumes and freight expenditures are way down, consumer confidence has declined sharply, major retail chains all over America are closing hundreds of stores, and the "sequester" threatens to give the American people their first significant opportunity to experience what "austerity" tastes like.
#1 Freight shipment volumes have hit their lowest level in two years, and freight expenditures have gone negative for the first time since the last recession.
#2 The average price of a gallon of gasoline has risen by more than 50 cents over the past two months. This is making things tougher on our economy, because nearly every form of economic activity involves moving people or goods around.
#3 Reader's Digest, once one of the most popular magazines in the world, has filed for bankruptcy.
#4 Atlantic City's newest casino, Revel, has just filed for bankruptcy. It had been hoped that Revel would help lead a turnaround for Atlantic City.
#5 A state-appointed review board has determined that there is "no satisfactory plan" to solve Detroit's financial emergency, and many believe that bankruptcy is imminent. If Detroit does declare bankruptcy, it will be the largest municipal bankruptcy in U.S. history.
#6 David Gallagher, the CEO of Town Sports International, recently said that his company is struggling right now because consumers simply do not have as much disposable income anymore...
#7 According to the Conference Board, consumer confidence in the U.S. has hit its lowest level in more than a year.
#8 Sales of the Apple iPhone have been slower than projected, and as a result Chinese manufacturing giant FoxConn has instituted a hiring freeze.
#9 In 2012, global cell phone sales posted their first decline since the end of the last recession.
#10 We appear to be in the midst of a "retail apocalypse". It is being projected that Sears, J.C. Penney, Best Buy and RadioShack will also close hundreds of stores by the end of 2013.
#11 An internal memo authored by a Wal-Mart executive that was recently leaked to the press said that February sales were a "total disaster" and that the beginning of February was the "worst start to a month I have seen in my ~7 years with the company."
#12 If Congress does not do anything and "sequestration" goes into effect on March 1st, the Pentagon says that approximately 800,000 civilian employees will be facing mandatory furloughs.
#13 Barack Obama is admitting that the "sequester" could have a crippling impact on the U.S. economy.
#14 If the "sequester" is allowed to go into effect, the CBO is projecting that it will cause U.S. GDP growth to go down by at least 0.6 percent and that it will "reduce job growth by 750,000 jobs".
#15 According to a recent Gallup survey, 65 percent of all Americans believe that 2013 will be a year of "economic difficulty", and 50 percent of all Americans believe that the "best days" of America are now in the past.
#16 U.S. GDP actually contracted at an annual rate of 0.1 percentduring the fourth quarter of 2012. This was the first GDP contraction that the official numbers have shown in more than three years.
#17 For the entire year of 2012, U.S. GDP growth was only about 1.5 percent. According to Art Cashin, every time GDP growth has fallen this low for an entire year, the U.S. economy has always ended up going into a recession.
#18 The global economy overall is really starting to slow down...
#19 Corporate insiders are dumping enormous amounts of stockright now. Do they know something that we don't?
#20 Even some of the biggest names on Wall Street are warning that we are heading for an economic collapse. For example, Seth Klarman, one of the most respected investors on Wall Street, said in his year-end letter that the collapse of the U.S. financial system could happen at any time. Read More...
Recent Gold Drop in Perspective: 5 Year Chart of Gold Bullion
Gold Base is Strong
Gold has been painful to own for the past year and a half. It has fallen quiet a bit from its highs. It recently gave up $100 dollars before today’s bounce-back.
This chart is to keep things in perspective. Gold is not in a bubble. I do not see gold prices crashing. I see a strong base at current levels. The last time a long base developed like this, we saw huge price increases. Yes, I wish I waited 10 days to make my last coin purchase, but c’est la vie. Long term, I hope to give my coins to my grandchildren. Or, if gold becomes insanely overvalued like the last gold peak in ’79, I will turn them into some other investment. For now, to calm myself down, I look at the 5 year chart and let the Zen of long-term support come over me.
Technical analysts will tell you a strong, long-term base has formed. The media have been saying gold is dead. If I had not made my purchase last week, I would be buying more right now. Read More...
Are we heading towards an Economic Collapse? Preparing for Financial Armageddon
Our county sits at over 16 trillion dollars in debt, with unfunded obligations that make the actual debt numberabout $120 trillion. The reality of the situation is there’s really no way out of the situation. Our government, thanks to both political parties, has spent us into a hole that we cannot dig ourselves out of. The facts, that nobody seems to want to talk about, indicate our country is still heading towards a complete meltdown of the financial system.
You can choose to believe the lies that are being spoon feed to you by the mainstream media, or you can look at the reality of the situation; our Economy is still facing some enormous challenges, and the prospects for a full economic recovery don’t look very good. The financial problems that lead to the housing / financial market crash of 2008 have not been fixed; in fact, many of these problems are even worse today than they were in 2008.
• Preparing for an economic collapse
• Keep an eye on the markets, and keep an eye on the banks.
• Realize your dollars may become worthless.
• To do this I recommend investing in long-term consumable goods.
• Always have cash on hand.
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.
