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
Today I’m not going to be reading you any news. I’m going to share a story with you about a talk show radio host and go over a list of questions I would like to ask him. I think you will like today's information and I thank you for listening in.
Now let’s take a look at today's precious metals pricing.
Gold - $1607.40 Up $15.37
Silver - $29.02 Up $.23
Platinum - $1579.00 Down $6.00
Palladium - $760.00 Down $11.00
I was listening to a conservative talk radio show the other day and they have a guy on there in the evening that gives financial advice. The guy seems pretty smart and has a really successful show that runs for 2 hours every night through the week.
On Thursday night I was traveling home and listening to his show and I found myself yelling at him through the radio. Yes I am one of those people who thinks If I just yell loud enough that somehow the radio host will hear me.
A listener calls into the show and said that he has been hearing that you need to invest in gold because the US dollar is going to be worthless in the near future. He wanted to know what this finance guru thought about that.
Well the host goes on to tell the listener that what he’s hearing is not true. The dollar is strong and the stock market is booming. He has great confidence in the future of the US dollar because it’s the world’s reserve currency. It’s the only currency that people around the world feel confident to go into.
He also said the only reason to have gold is to have a hedge. That it’s mostly for people who think that the dollar is doomed and going to fail to exist in the near future. He said I wouldn’t have more then 10% of my portfolio in gold.
Then the caller went on to ask why China is buying so much gold. The host said the reason China is buying gold is because their currency isn’t strong and there looking for something else to invest their money in.
I was thinking to myself, man I wish I could be in on this call so I can give this financial genius a little fact lesson. It cracks me up that we have all these so called highly educated people on TV and on the radio that are advising people. They themselves might understand stocks and things of that nature but they don’t understand history.
So here is a list of questions that I would have asked him myself had I been in on this call.
1) If the dollar is so great, then why don’t the Chinese just buy up even more dollars instead of becoming the worlds largest buyer of Gold?
2) Why is Russia and Germany and India and a long list of other countries not only buying record amounts of gold but also advising their citizens to buy gold?
3) Why is Germany repatriating all there gold from the US banks?
4) Why are billionaires and central banks buying so much gold?
5) If the dollar is so strong why do I need so many of them to buy gas, food, healthcare and to pay for energy and utilities?
6) Can you not conclude that the reason stocks are so high right now is because of inflation? If everything else is going up in cost because of inflation then why would stocks be any different?
7) If the future of our economy is so great then why are so many people unemployed and why are the ones who are employed so under employed?
8) Seeing’s how you are a financial genius and all, are you aware that a bubble is the largest right before it pops?
9) Why are people like Peter Schiff who predicted with great accuracy the 2008 crash also now predicting a complete economic meltdown like the world has never seen.
10) Are you aware that no fiat currency that is backed by nothing has ever survived?
11) Have you ever heard the Weimar Republic collapse?
12) Did you know that the United States of America has the largest debt in the history of the world?
13) Are you aware that polls suggest that governments around the world are loosing confidence in the US dollar?
14) Did you know that there is currently a currency war taking place around the world?
15) Did you know that polls suggest that a majority of American citizens think that our best days are behind us?
16) Are you aware that 24% of Americans have more credit card debt then money in the bank?
17) Why are student loan delinquencies at an all time high?
18) Did you know that median house incomes have fallen for four years in a row and then if you add in recent tax hikes most median households are now making $5,000 dollars less a year then they did four years ago?
19) Why are you so optimistic of our financial futures knowing that people are making less money and the cost of living is going up?
20) How will people survive if their wages goes down year over year while inflation and taxes go up year over year?
21) If the stock market is so awesome right now why are there reports saying that corporate insiders are dumping huge amounts of stocks right now?
Now I literally could write out a hundred of these questions and facts with very little trouble but to save time I just decided to include the first twenty-one that came to my mind instantly.
Now he did say a couple things that I do agree with. I agree and promote that the reason to own precious metals is to hedge against inflation. That is true.
He said he wouldn’t have more then 10% of his holdings in metals. I like the idea of having 10% in gold and silver. Obviously putting all your eggs in one basket is a bad idea. So I’ll even somewhat agree with him on that.
Now this guy is probably a lot smarter then me. I can guarantee he has more money then me. He has a larger audience then me. I’m not going over all this as a way to bash this guy.
However I can’t help but feel that people in the media are just oblivious to what’s going on in our country and around the world. They either don’t know, don’t care or just don’t want to know.
I would love to believe what he was telling that caller. It sounds good. I love good news. I don’t want to have to worry about this stuff. Sometimes I even try to convince myself that everything is ok.
When I look at the facts and I look at history, I can not help but come to the conclusion that we are in fact in big trouble and that owning gold and silver is a very smart and responsibly thing to do. We need to protect what little wealth we have left.
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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.
