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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Welcome to the SilverTowne Vault Cast. Today I’m going to answer a really good question that came to me from a listener and I think you will all find this very interesting. I love it when I get good questions that force me to not just pull the answer from memory but to go out and research the information to make sure I’m getting it right. Thanks to all of you who leave comments and ask questions.
We need to have a lot more conversations among ourselves so we can better inform those around us and be prepared to give an answer when hard questions are asked from those friends and family members who may not understand where we are coming from on this topic.
Going to talk about some more collapse news and a California city goes bankrupt but before we dig in to todays news let have a look at the precious metals pricing.
Gold - $1548.46 down $9.28
Silver - $26.80 down $.17
Platinum - $1523.00 down $4.00
Palladium - $729.00 down $.19.51
Listener Question: From Romulan112
I have a question Sean...
How come today, silver got down to $27.30 or so, why is it at just $3.25 higher than it was in 08, before the collapse and before any QE's? Doesn't make sense that they can print up trillions of dollars in their QEs and also, since 08, the Central banks are buying it and hoarding it. Why is it again, only slightly higher than before the collapse and the QE's came about? Shouldn't silver/gold keep/account for the explosion in currency?
Demand for silver is outrunning supply
Silver supply simply cannot keep up with demand. It can’t be mined from the earth fast enough. For instance, in 2009, 710 million ounces of silver was produced from mines or recovered from existing silver supplies. But total demand was 889 million ounces – leaving a whopping deficit of over 5,000 metric tons. This is part of an escalating pattern, year after year, of a growing deficit.
Phantom silver?
Silver is bought and sold in the commodity markets. One method of buying and selling silver is through futures contracts. A futures contract is an agreement to buy a specified amount of silver on a specified future date at a specific price. But all that glitters is not silver. There have been rumblings for quite some time now that the silver supplies held in reserve to fulfill the futures contracts don’t actually exist! People are just trading worthless paper. And that makes the silver that does exist that much more valuable. Read More...
What Happens When Manipulation is Found?
Most silver analysts think that the price of silver isn't being manipulated by pure trading. Instead, they're convinced that the amount of silver being traded on the futures market is not 100% represented by physical metals. This means there is more electronic silver being traded in the form of futures than what actually physically exists. Therefore, as rare as silver is thought to be today, it will be even rarer than we once believed if the markets are being manipulated with excess futures. Read More...
The Big Banks Are Recklessly Gambling With Our Money, And It Will Cause The Global Financial System To Collapse
Have you ever wondered how the big banks make such enormous mountains of money? Well, the truth is that much of it is made by gambling recklessly. If they win on their bets, they become fabulously wealthy. If they lose on their bets, they know that the government will come in and arrange for the banks to be bailed out because they are "too big to fail".
Either they will be bailed out by the government using our tax dollars, or as we just witnessed in Cyprus, they will be allowed to "recapitalize" themselves by stealing money directly from our bank accounts. So if they win, they win big. If they lose, someone else will come in and clean up the mess. This creates a tremendous incentive for the bankers to "go for it", because there is simply not enough pain in this equation for those that are taking the risks.
If the big Wall Street banks had been allowed to collapse back in 2008, that would have caused a massive change of behavior on Wall Street. But instead, the big banks are still recklessly gambling with our money as if the last financial crisis never even happened. In the end, the reckless behavior of these big banks is going to cause the entire global financial system to collapse.
Have you noticed how most news reports about Cyprus don't even get into the reasons why the big banks in Cyprus collapsed?
Well, the truth is that they collapsed because they were making incredibly reckless bets with the money that had been entrusted to them. Read More...
"Because gold is honest money, it is disliked by dishonest men" - Ron Paul
Judge allows California city to enter bankruptcy, largest municipality to go bust
Stockton, Calif., became the most populous city in the nation to go broke Monday, after a judge accepted the city's application to enter bankruptcy.
In the closely watched decision, U.S. Bankruptcy Judge Christopher Klein said the bankruptcy declaration was needed to allow the city to continue to provide basic services. He determined Stockton would not be able to perform "its obligations to its citizens on fundamental public safety as well as other basic government services without" the protections provided under bankruptcy proceedings.
Stockton was facing a $26 million shortfall when it filed for bankruptcy last summer, the result of the housing bust and soaring pension obligations. After cutting a quarter of their police force and other city services to the bone, officials argued bankruptcy was their only option. 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.
