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
Real quick, let's have a look at our precious metals pricing for today.
Gold - $1284.30 Down $4.32
Silver - $21.40 Down $0.12
Platinum - $1431.00 Down $18.50
Palladium - $751.00 Down $4.75
GOLD: HOLD IT OR FOLD IT?
It's starting to feel like we are part of a giant poker game against the US government, whose hand is the true condition of the American economy. The government has become so good at bluffing that most people feel compelled to watch how the biggest players in the game react to determine their own investment strategy.
Unfortunately, this past month revealed that even pros like Goldman Sachs have no idea what sort of hand Washington is really hiding.
The Bank of Italy recently affirmed that its gold reserves are essential to its economic independence, while the World Gold Council reported that this past year, European central banks held onto more of their gold reserves than ever before. China, the largest holder of US debt and the biggest consumer of gold in the world, has started openly talking about ending the dollar's reserve status. And while we don't know the total gold reserves of the Chinese government, there are signs that they are stockpiling.
Even US Treasury officials admit that the US will never sell its gold reserves to deal with debt obligations. One spokesperson said, "Selling gold would undercut confidence in the US both here and abroad, and would be destabilizing to the world financial system."
Time to Cash Out
So, who should investors believe about gold? Wall Street bankers who directly benefit from asset bubbles created by the Fed's inflationary stimulus?
No, it's time for individual investors to leave the table and redeem their chips. Just remember - the longer you wait to cash out of the US dollar, the less you're going to get for your winnings. Read More...
Silver Supply Shortage Ongoing
"The United States Mint will issue its last weekly allocation of 2013 dated American Eagle Silver Bullion coins on Monday, December 9, 2013. We will begin accepting orders for 2014 dated American Eagle Silver Bullion coins on Monday, January 13, 2014."
What does this mean?
Silver supplies are tightening and silver premiums are rising industry wide.
Why?
Supply & Demand. The industry has a shrinking supply of silver eagle coins real time.
Throughout 2013, the U.S. Mint has been narrowly meeting the public's silver eagle coin demand. Supply is now tightening and thus premiums are rising on what inventories remain.
This week the U.S. Mint will likely break its 2011 all time record of 39,868,500 American Eagle Silver Bullion coins sold ( less than 200,000 official 2013 silver eagle coin sales remain to break the record ).
Lock In Your Silver Now....
The upcoming 35 day silver eagle coin hiatus is producing a shortage of the world's most popular silver bullion investment vehicle and will likely produce a growing shortage of other silver bullion products as a consequence. Read More...
Food Bank of South Jersey Warns Food Stamp Cuts Hurt Local Businesses
While Washington continues its fight over the Farm Bill, Val Traore, CEO of the Food Bank of South Jersey, is calling attention to what she calls “the bilateral disaster of food stamp cuts.” Any reduction in food stamps, she points out, will impact hungry people in South Jersey (many of whom are school age children) as well as local businesses that accept food stamps.
South Jersey is a small, intimate community and when something this big happens, it has a ripple effect,” Traore explains. “You can’t affect the food supply of an estimated 18,000 people as well as the revenue for nearly 1,000 businesses, and not expect a nightmare ripple effect. And what affects local businesses will extend outward to the entire community.” Read More....
How China Can Cause The Death Of The Dollar And The Entire U.S. Financial System
The death of the dollar is coming, and it will probably be China that pulls the trigger. What you are about to read is understood by only a very small fraction of all Americans. Right now, the U.S. dollar is the de facto reserve currency of the planet. Most global trade is conducted in U.S. dollars, and almost all oil is sold for U.S. dollars. More than 60 percent of all global foreign exchange reserves are held in U.S. dollars, and far more U.S. dollars are actually used outside of the United States than inside of it.
We need other countries to use our dollars and buy our debt so that we can have super low interest rates and so that we can afford to buy lots of cheap stuff from them.
Unfortunately, the truly bizarre behavior of the Federal Reserve and the U.S. government over the past several years is causing the rest of the world to lose faith in our currency. In particular, China is leading the call for a "de-Americanized" world.
So why should the rest of the planet listen to China?
Well, China now accounts for more global trade than anyone else does, including the United States.
China is also now the number one importer of oil in the world.
At this point, China is even importing more oil from Saudi Arabia than the United States is.
China now has an enormous amount of economic power globally, and the Chinese want the rest of the planet to start using less U.S. dollars and to start using more of their own currency.
Of course the U.S. dollar is still king for now, but thanks to a whole host of recent international currency agreements this status is slipping. For example, China just recently signed a major currency agreement with the European Central Bank... 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.
