This Will End In Inflation & Destruction of Paper Currencies
July 2, 2012
KWN has been receiving a tremendous number of emails, from readers and listeners, asking how this financial crisis will end. So this week we turned to the man who has studied monetary history for over four decades to ask him how this will all be resolved. Bill Haynes, President and owner of CMI Gold & Silver, had this to say about what is happening today with the ongoing crisis and where we are ultimately headed: “With all of the bearish reports on the metals, some investors are scared. Still, others call up and say, ‘If they’re going to give me this stuff, this cheap, I’m buying.’ Eric, let me tell you, this feels like 2000. Remember those days, gold below $300, silver below $5, and we were (called) ‘idiots’ for buying it.”
Bill Haynes continues:
“You bought it because you were a contrarian. It’s been about 12 years ago that you gave me your reasons for buying. This is what it feels like (again), that we are considered idiots for being gold and silver bulls. But let’s talk about the difference of what we’re looking at today, and what we were looking at 12 years ago.
12 years ago the only thing we had to worry about was massive deficit spending because we knew it was going to cause inflation sooner or later. There was no talk in 2000, when we were buying, of Lehman disappearing. Let’s not forget Merryll Lynch (essentially) went bankrupt, and rolled into Bank of America….