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 back to the SilverTowne Vault Cast. Today is Thursday and I am very excited to be here speaking to you this morning. Today we are really going to be digging into some collapse information. 101 milling working age Americans do not have jobs, Marc Faber says that Cyprus will happen everywhere around the world and much more.
Before I get into all this information let’s look at our precious metals pricing.
Gold - $1557.89 Down $1.45
Silver - $27.58 Down $.05
Platinum - $1528.00 Up $5.50
Palladium - $717.00 Up $1.00
Trust in Gold Not Bernanke as U.S. States Promote Bullion
Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender.
Lawmakers in Arizona are poised to follow Utah, which authorized bullion for currency in 2011. Similar bills are advancing in Kansas, South Carolina and other states.
The Utah Precious Metals Association, established after passage of the 2011 law to advocate for the use of gold and silver coins, has established a pilot program in which members can make deposits that are held in gold and access money using a bill pay service.
The measures give “people the option of using money that won’t lose any purchasing power to inflation,” said Rich Danker, economics director at the American Principles Project. The Washington-based public-policy group supports the steps as well as a return to the gold standard, which pegged the dollar’s value to bullion. President Richard Nixon formally ended the convertibility of U.S. currency to the precious metal in 1971.
“People in these states find the idea of having the option to use hard currencies appealing over these policies they have no control over,” Danker said.
The U.S. Constitution bars states from coining money and also forbids them from making anything except gold and silver coin tender for paying debts. Advocates say that opens the door for the states to allow bullion as legal tender. The measure being considered in South Carolina would recognize foreign or domestic minted coins as legal tender.
Utah’s law applies only to U.S.-minted coins, while other states are less clear on whether privately produced coins qualify. Arizona leaves the door open for private coins if they are declared legal by a non-appealable court order. Read More...
25 Things That You Should Do To Get Prepared For The Coming Economic Collapse
Do you think that you know how to prepare for the collapse of the economy? If so, are you putting that knowledge into action? In America today, people are more concerned about the possibility of an economic collapse than ever before. It has been estimated that there are now three million preppers in the United States. But the truth that nobody really knows the actual number, because a lot of preppers keep their "prepping" to themselves.
#1 An Emergency Fund
#2 Don't Put All Of Your Eggs Into One Basket
#3 Keep Some Cash At Home
#4 Get Out Of Debt
#5 Gold And Silver
In the long-term, the U.S. dollar is going to lose a tremendous amount of value and inflation is going to absolutely skyrocket. That is one reason why so many people are investing very heavily in gold, silver and other precious metals. All over the globe, the central banks of the world are recklessly printing money. Everyone knows that this is going to end very badly. In fact, there is already a push in more than a dozen U.S. states to allow gold and silver coins to be used as legal tender. Someday you will be glad that you invested in gold and silver now while their prices were still low.
#6 Reduce Your Expenses
#7 Start A Side Business
#8 Move Away From The Big Cities If Possible
#9 Store Food
#10 Learn To Grow Your Own Food
Read More...
More Than 101 Million Working Age Americans Do Not Have A Job
The jobs recovery is a complete and total myth. The percentage of the working age population in the United States that had a job in March 2013 was exactly the same as it was all the way back in March 2010. In addition, as you will see below, there are now more than 101 million working age Americans that do not have a job. But even though the employment level in the United States has consistently remained very low over the past three years, the Obama administration keeps telling us that unemployment is actually going down. In fact, they tell us that the unemployment rate has declined from a peak of 10.0% all the way down to 7.6%. And they tell us that in March the unemployment rate fell by 0.1% even though only 88,000 jobs were added to the U.S. economy. But it takes at least 125,000 new jobs a month just to keep up with population growth.
So how in the world are they coming up with these numbers? Well, the reality is that the entire decline in the unemployment rate over the past three years can be accounted for by the reduction in size of the labor force. In other words, the Obama administration is getting unemployment to go down by pretending that millions upon millions of unemployed Americans simply do not want jobs anymore. We saw this once again in March. According to the U.S. Bureau of Labor Statistics,more than 600,000 Americans dropped out of the labor market during that month alone. That pushed the labor force participation rate down to 63.3%, which is the lowest it has been in more than 30 years. So please don't believe the hype. The sad truth is that there has been no jobs recovery whatsoever.
If things were getting better, there would not be more than 101 million working age Americans without a job. Read More...
Marc Faber: Cyprus will happen everywhere around the world
The three men who predicted the economic collapse in 2007/2008 in the first place are now foreseeing the Cyprus crisis hitting developed and developing nations across the globe. Marc Faber, Peter Schiff and Jim Rogers are all weighing in on this tumultuous instance.
Marc Faber, finance guru and publisher of the Gloom, Boom & Doom Report, believes what transpired last month in the island nation of Cyprus will occur in more countries around the world, including in developed nations.
Speaking on CNBC’s “Squawk on the Street” on Tuesday, Faber reiterated Jim Rogers’s insights into the Cyprus situation, whereby financial institutions, central banks and governments will get the same concept and rationalize the measures by citing Cyprus.
When it happens in Western democracies, according to Faber, bank depositors and investors could lose as much as 30 percent of their wealth because “you have more people that vote for a living than work for a living.” He added that people would be “lucky if you don’t lose your life.”
“If you look at what happened in Cyprus, basically people with money will lose part of their wealth, either through expropriation or higher taxation,” explained Faber. “The problem is that 92 percent of financial wealth is owned by 5 percent of the population.
The majority of people don’t own meaningful stock positions and they don’t benefit from a rise in the stock market. They are being hurt by a rising cost of living and we all know that the real incomes of median households have been going down for the last few years.” 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.
