New York, NY (PressExposure) January 14, 2009 -- With still over a week until President-Elect Obama's inauguration, those on Main Street will have to keep waiting for those elusive government checks. The government is not just handing Main Street money says Michael Musheyev, president of OldGold4Cash, and that now underscores the need for those on Main Street to look to the person whom they always do during harsh times, themselves.
"There's been a bailout for banks and lobbyist fueled industries, but the guy who just bought his Christmas gifts on his maxed out credit card isn't seeing any of that money. That guy has to hope on a promise of maybe a job from Obama's $800 billion stimulus plan or worse yet if he's not one of those guys who builds bridges and schools of waiting until those guys get their checks from the government and decide to spend it with him," Michael says.
Unlike the direct payout to recipients of the recent Federal largess such as AIG or the loans made to GM and Chrysler, the proposed stimulus package relies on a longer term trickle down effect where money from the Federal government is spent on state projects that after mandatory contractor review periods will land in Main Street's pockets many months from now under the most optimistic of circumstances. The stimulus plan projects spending will create over three million jobs. Obama upped total spending in December after there were projections that the total job loss in 2009 could be as high as four million jobs. Perhaps it is this delay that is why Michael Musheyev reports a sharp increase in the number of people who approach his business to get cash for their gold and other precious metal jewelry.
"The government's not going to pay my credit card bills, give me money for my mortgage, send in a check for my tuition or help with day to day expenses. The people who are selling their gold to me sell gold because they need cash fast. They need cash now. They cannot wait weeks or months on a hope. They need cash within 24 hours. Our refinery can offer this. People need to rely on themselves and cannot wait for a bailout since they need money now," says Michael.
Gold is particularly attractive to sell today as it may be worth many times the price of what it was bought at. The average gold price has risen steadily over the past seven consecutive years. Just one ounce of gold is worth over $850 according to today's spot price on Kitco. One ounce of platinum is worth nearly $1000. While selling gold is not a long term solution, it may be just what some need to avoid resorting to pay day loans or the high interest rates of credit cards over the limit.
Michael warns about dealing with businesses using subcontractors and middlemen and definitely to avoid gold parties. Many of these businesses are trying to cash in on the economic woes by offering quick cash, but far less than you would get from a refinery such as OldGold4Cash. Refineries will often guarantee to give you the best price.
As for his own outlook?
"I'm just glad that I can help out people who are in such a financial pinch. I feel their pain, and I deplore this sluggish government response."
Interested parties may contact OldGold4Cash by visting the web site, oldgold4cash.com, emailing inquiries to firstname.lastname@example.org, or calling (888) 465-3751.
About OldGold4Cash: A refinery in business for over 35 years, OldGold4Cash's headquarters are in East Elmhurst, NY, located at 1910 Hazen Street. OldGold4Cash will buy most precious metals, paying for the initial valuation and insured shipment to their location.