Bill Haynes is the man behind CMI Gold & Silver and has been a prominent figure in the investment industry for more than 50 years.
He holds a wealth of knowledge about the gold and silver bullion market, and his insights are worth their weight in gold (pun intended). This blog post aims to shed light on his journey, his expectations for the gold market, and his insights on the current economic climate.
Bill Haynes entered the world of investment in the 70s as a stockbroker. However, his fascination with bullion led him to establish his own business, CMI Gold & Silver, in 1973.
Over the course of his career, he has witnessed numerous ups and downs in the gold market, including the fallout from Nixon closing the gold window. Each event has only strengthened his understanding and conviction in the power of gold as an investment vehicle.
Quote: “People need to buy gold before it gets too expensive.”
Bullish Expectations for Gold
Haynes believes that the current economic climate could propel gold prices to reach between $4,000 and $5,000 in the next couple of years. The combination of massive debt accumulation and excessive money printing has created a favourable environment for gold investment.
The Debt Dilemma
The Trump administration saw an addition of seven trillion dollars to the national debt. Haynes anticipates this trend to continue under the Biden administration. The bond market, the Fed, and the treasury all play a pivotal role in this scenario.
Runaway Gold Market
In his book, “The Last Gold Rush Ever,” Haynes presents the concept of a runaway gold market. He envisions a final rush into gold before it becomes a mainstream investment and a staple in every investor’s portfolio.
The War on Cash
Haynes also touches upon “The War on Cash,” where excessive money printing is pushing us towards banana republic levels of financial instability. He warns that our economy is overextended, and the continued military expenditure is proving to be a massive drain on the US economy.
Major banks including Signature Bank and Silicon Valley Bank collapsed this year. Retirees like you and me lost millions of dollars while the White House bailed them out. I have personally invested in precious metals and made serious returns. You can request a free guide on gold investing using the button below:
In the event of a crisis, Haynes believes that silver will emerge as the everyday currency, whereas gold will be used for larger transactions. The risk of confiscation of these precious metals does exist but is not imminent.
Wealth Measurement: Dollars Vs. Ounces
In today’s world, wealth is predominantly measured in dollars. However, Haynes suggests that a time might come when wealth is measured against ounces of gold or silver.
A Word of Caution for Investors
Haynes advises investors against buying numismatic collectible coins as they carry high premiums. Investors often don’t recover these premiums when they sell. The goal should be to acquire coins that bring maximum metal for dollar outlay.
Why Are Investors Diversifying Their Portfolio?
Experts agree that the financial market is now even more fragile than pre-2008. Will your retirement portfolio weather the imminent financial crisis? Threats are many. Pick your poison..
The financial system would be in great peril if one or more big banks fail.
“When we get to a downturn, banks won’t have the cushion to absorb the losses. Without a cushion, we will have 2008 and 2009 again.”
Student debt, which has been on a steep rise for years, could figure greatly in the next credit downturn.
“There are parallels to 2008: There are massive amounts of unaffordable loans being made to people who can’t pay them”
The US national debt has spiked $1 trillion in less than 6 months!
“If we keep throwing gas on flames with deficit spending, I worry about how severe the next [economic] downturn is going to be–and whether we have enough bullets left [to fight it],”
Total household debt rose to an all-time high of $13.67 trillion at year-end 2019.
“Any type of secured lending backed by an asset that is overvalued should be a concern… that is what happened with housing.”
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Bill Haynes, a University of Colorado graduate, has worked in the investing industry for almost 50 years. For the past 45 years, he has led CMI Gold & Silver, keeping committed to gold and silver bullion as the finest form of currency protection.
His blog posts and the company’s website are a testament to his commitment to educating Americans about the benefits of owning gold and silver. His article, “Myths, Misunderstandings, and Outright Lies,” has achieved legendary status among gold and silver investors. It serves as a warning against the dangers of collectible and numismatic coins.
With the Fed’s massive inflation to finance our welfare state and foreign wars, Haynes sees a greater need to own gold and silver now than at any time in his 45 years as a bullion dealer.