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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Before I get into all that, lets have a look at this mornings precious metals pricing.
Gold - $1323.26 Down $2.92
Silver - $21.70 Down $0.08
Platinum - $1430.50 Down $1.00
Palladium - $719.50 Up $0.30
QE unlimited' sparks 'risk-on party' as dollar sinks, precious metals jump
NTERNATIONAL. World stock markets, foreign currencies and commodities extended yesterday's jump versus the US Dollar in Asia and London on Thursday morning, with gold regaining the $1370 level it leapt to after the Federal Reserve voted not to trim its quantitative easing program.
Defying the expectations built since April, the Fed gave financial markets what one FX strategist called "a massive green light for a risk-on party." Silver hit a new 5-week low shortly before the US central bank's announcement. It stood 9.5% higher barely an hour later. "We are in QE unlimited," said money-manager and Gloom, Boom & Doom publisher Marc Faber, speaking to Bloomberg last night and stating that "I always buy gold...I view it as an insurance policy.
I think responsible citizens should own gold. "The Fed don't know anything else to do [but print]. They've boxed themselves into a corner." Discussing the next likely chair of the US central bank, "Janet Yellen will make Mr.Bernanke look like a hawk," Faber said. The US stock market yesterday surged to new all-time highs. Gold prices gained 6.4% from their earlier low, and silver enjoyed its biggest one-day jump since June 2012. Bond prices rose to push 10-year Treasury yields to a 3-week low, falling at the fastest pace since 2011. Read More....
Bullard: Taper possible in October
The Federal Reserve could begin to slow asset purchases at its October meeting depending on economic data, said St. Louis Fed President James Bullard Friday on Bloomberg Television. "October is a live meeting," he said. "This was a close decision here in September, so it's possible you get some data that change the complexion of outlook and make the committee be comfortable with a small taper in October." Read More...
The Percentage Of Americans That Consider Themselves To Be “Lower Class” Is At An All-Time High
Do you consider yourself to be "lower class"? Most Americans wouldn't dream of thinking that way. Even at the toughest times of my own life, I always considered myself to be "middle class". Traditionally, the vast majority of Americans have described themselves as either "middle class" or "working class", but now we are witnessing a huge shift. According to survey results that were just released, the percentage of Americans that identify themselves as "lower class" is now at an all-time high. It is still only 8.4 percent of the country, but the fact that this number is rapidly growing shows that something is changing on a very fundamental level.
In America today, less people than ever believe that they have the opportunity to make a better life for themselves, and according to a brand new Gallup pollthat was just released, 20 percent of all Americans did not have enough money to buy food that they or their families needed at some point over the past year. We have 47 million people on food stamps and we have more than 100 million Americans enrolled in at least one welfare program, and that does not even count Social Security or Medicare. We have gone from a "land of opportunity" to a land where tens of millions of people are being crushed by the system. Read More...
How close are we to economic collapse?
Any person unable to foresee the coming catastrophe must be blind or blissfully ignorant at this point. The focus of investment markets is on nothing but the activity of the Federal Reserve and its Quantitative Easing program. It is remarkable that we even get to watch something so absurd as the downward movement of the market on days in which positive economic statistics are unveiled and upward movement when the statistical economic outlook is negative.
Investors are afraid that if the economic forecast is good then the Fed will start to scale back its bond buying program, sending rates up and the bond market down in a tail spin. Interest rates have already begun to rise even though the Fed continues to purchase $85 billion a month. With today's announcement that the Fed is committed to slowing their bond buying program some time this month, which should be taken with a grain of salt because it is highly unlikely, the question must be asked; How prepared are you for an economic collapse? 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.
