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 back to the SilverTowne Vault Cast. Today we have an update on Arizona and their attempt to use gold and silver as currency. $6 million dollars in gold found in a car and the demand for silver coins is the highest since records began.
Before I get into all this information let’s look at our precious metals pricing.
Gold - $1574.52 Down $7.03
Silver - $27.20 Up $.04
Platinum - $1531.00 Up $6.00
Palladium - $729.00 Up $5.54
Arizona House backs gold, silver as currency
PHOENIX (AP) — The Arizona House has given initial approval to legislation that would make privately minted gold and silver coins legal tender, no different under state law than the U.S. dollar printed by the federal Department of Treasury.
The vote Thursday advancing the legislation marks Arizona's latest jab at the federal government. It also reflects a growing distrust of government-backed money.
The bill states that gold and silver should be legal currency not subject to tax or regulation as property. The Republican-led Senate gave an earlier version of the bill its blessing in February in a 17-11 partisan vote.
The bill would let people use precious metals as money if businesses agree. If made law, it would take effect in 2014.
Democrats call the measure a bureaucratic nightmare. Read More...
All Of The Money In Your Bank Account Could Disappear In A Single Moment
What would you do if you logged in to your bank account someday and it showed that you had a zero balance and your bank had no record that you ever had any money in your account? What would you do if all of the money in your bank account suddenly disappeared in a single moment?
If you had not kept any paper records, which most Americans do not, it would be exceedingly difficult to prove to the bank that you actually had any money in the bank. If you don't think that something like this could ever happen in the United States, you might want to think again. Cyber attacks against major banks in the United States are becoming more powerful and more sophisticated with each passing month.
In fact, major U.S. bank websites have been offline for a total of 249 hours over the past six weeks. And just last month, thousands upon thousands of Chase customers logged into their bank accounts only to discover that their balances had all been reset to zero.
Anyone that would want to cause complete and total economic chaos in the United States could accomplish it very easily by wiping out all of our bank account records. So please do not keep all of your money in a single bank, and from now on please keep a paper copy of all of your bank account statements. At some point it is likely that one of these cyber attacks will cause permanent damage to our banking system, and you want to be protected. Read More...
Ton Of Gold Hidden In Car Seized At Swiss Border Estimated To Be Worth Nearly $6 Million
On Sunday, Italian border patrol police uncovered a ton of gold hidden in a car attempting to cross the border from Switzerland at Ponte Chiasso, according to video reports. The gold bullion, which was concealed in floor compartments, is estimated to be worth 4.5 million euros (nearly $6 million).
Italy's border police released footage of its golden find Thursday. In video clips (seen above), officers remove the storage compartment's covering to unveil 12 gold bricks wrapped in newspaper.
Police said the unidentified 53-year-old driver, who works as a legal representative for a Swiss company, could not explain what the gold was doing in his vehicle. At the time, the man was reportedly traveling from Switzerland to Italy with his wife and three young children.
"It looked like an ordinary Easter day out with the family," police said in a statement, according to the Agence France-Presse. That is, until the two secret compartments were revealed.
Since the bricks do not bare any engraving, authorities have not been able to determine the gold's origin. Though an investigation is ongoing, Italian police seized the gold and reported the driver to a local prosecution office. If prosecuted, the Italian man, who was living in Switzerland, faces charges for money laundering.
In November, Italian authorities busted a ring of suspected gold smugglers, who were believed to be buying gold bricks in Italy before running them across the border in Switzerland. According to the BBC, at least $200 million of the network's assest were seized. Read More...
US demand for silver coins highest ever since records began in 1986 as private investors seek a safe haven
Sales of American Eagle silver coins produced by the US Mint have surpassed 14 million so far this year, a number not hit until late May last year with sales running at their highest level ever since records began in 1986. If the price of silver was set by coin sales then it would be at a new all-time high, but the Comex futures pit still rules the price.
Investors have to wonder whom is the better judge: thousands of small investors worried about inflation and the risk of a dollar, banking and bond market collapse, or the professional hedge fund traders and bullion banks who dominate the Comex?
So the explosion of coin buying is a concrete indicator of a silver price surge coming soon, whatever the short term vagaries of the global financial markets might do to the Comex silver price in the meantime. Coin holders should take heart and keep their bullion. 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.
