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
Now before I get into today’s topics, lets take a quick look at the precious metals pricing.
Gold - $1369.05 UP $2.84
Silver - $23.11 UP $0.22
Platinum - $1521.50 UP $8.00
Palladium - $749.50 UP $5.00
Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It
The next great economic crisis is rapidly approaching, and most people are going to be totally blindsided by it. Even though the warning signs are glaringly obvious, most Americans continue to believe that our "leaders" know what they are doing and that everything will be just fine. But what will happen when the next great financial crash happens and trillions of dollars of "paper wealth" disappear into thin air? What will happen when the coming credit crunch causes economic activity to dramatically slow down and millions upon millions of people lose their jobs? This shouldn't sound far-fetched to you. Remember, this is exactly the kind of thing that we saw back in 2008, and the next great financial crisis is likely going to be significantly worse. Our economy is in far worse shape than it was back in 2008, and government dependence is now at an all-time high even though most Americans are still enjoying debt-fueled false prosperity. We are living in the largest debt bubble in the history of the planet, and when it bursts we are going to experience a crippling "adjustment" to our standard of loving. Some people understand this and are busy preparing for what is ahead. It has been estimated that there are approximately 3 million "preppers" in the United States, and that number is growing all the time. Unfortunately, most Americans are not preparing for the coming economic depression and they are going to bitterly regret it.
So what does preparing for the coming economic depression look like?
Well, it doesn't have to be complicated. Most of the things that you should do are just common sense.
But there are some people that take things to extremes. For example, a new National Geographic series is featuring a family that is actually constructing a "Doomsday Castle". The former U.S. Army officer that is building this unusual home is trying to prepare for virtually every type of disaster that he can imagine...
#1 An Emergency Fund
#2 Don't Put All Of Your Eggs Into One Basket
If the wealth confiscation in Cyprus has taught us anything, it is that we should not put all of our eggs in one basket. If all of your money is in one single bank account, it would be easy to wipe out. But if you have your money scattered around a number of different places it will give you a little bit more security.
#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. Read More...
U.K. Gold ‘Exports’ To Switzerland Explode Due To Allocated and Asian Demand
It is worth noting that the 797 tonnes, while a large number in tonnage terms, for the very small physical gold market, is only worth $37 billion in dollars terms which is less than half the $85 billion in quantitative easing or money creation and debt monetisation that the Federal Reserve does every single month.
The 797 tonnes of gold “exported” from the U.K. to Switzerland is nearly 30% of total annual gold mining supply.
Rather than “exported,” the flow of gold to Switzerland is more a form of capital flight as, the safest form of money in the world, gold, flows out of the U.K. and into strong, store of wealth, hands in Asia and storing bullion in Switzerland.
Throughout history, capital, assets, currencies and gold have flowed to the individuals, governments and countries that have treated it most kindly.
Gold ETP sales were 681.4 tonnes for all of this year so far through August 19, data compiled by Bloomberg show and these sales have been greatly surpassed by physical coin and bar demand in China and India alone.
Demand from India and China in Q2 alone was 310 tonnes and 276 tonnes or 586 tonnes combined. There is also the not insignificant and increasing coin and bar demand from the rest of Asia, the Middle East, South America, Europe, the U.K. and the U.S.
Investors appear to be switching from ETFs to allocated accounts, which are often held in Switzerland, Bloomberg noted. GoldCore have direct experience of this as we have seen flows from clients liquidating ETFs in the U.K., the U.S. and even Switzerland into the safety of allocated bullion accounts in Zurich and Hong Kong. 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.
