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Bill Haynes: The Runaway Gold Market

Tom welcomes a new guest to the show, Bill Haynes, the owner and President of CMI Gold & Silver. Bill discussed his early career as a stockbroker in the 70s and what led him to start his bullion business in 1973.

He discusses some of the significant events that happened with gold during his career and the results of Nixon closing the gold window.

Bill believes that gold could reach 4 or 5 thousand in the next couple of years. He says, “People need to buy gold before it gets too expensive.”

He discusses the Fed and treasury and how the bond market works. The massive debt binging under the Trump administration has resulted in seven trillion being added to the national debt. He sees this likely to increase under Biden.

Bill’s book “The Last Gold Rush Ever” discusses the idea of a runaway gold market and a final rush into gold before it goes mainstream and becomes an established item in every investor’s portfolio.

He discusses “The War on Cash” and how we are entering into banana republic levels of money printing. He says, “We’re overextended, and the military drain on the US economy continues to be massive.”

In a crisis, silver would become the money of everyday use while gold would facilitate larger transactions.

There is a risk of confiscation, but not in the immediate future. Today, everyone measures wealth in dollars, and there could come a time when wealth is again measured against ounces.

He cautions investors not to buy numismatic collectible coins because the premiums are too high, and usually, investors don’t get that premium back when they sell. You want to buy coins that bring you the most metal for dollar outlay.

Talking Points From This Episode

  • Bill’s Background & Business
  • His Expectations for Gold
  • “The Last Gold Rush Ever”
  • Silver vs. Gold & Confiscation Risk

Time Stamp References:
0:00 – Intro
1:02 – The Early 70s
2:20 – Gold Business Events
3:49 – Money Printing & Debt
4:42 – Runaway Gold Market
7:06 – Last Gold Rush Ever
8:51 – Gold Vs. Silver
10:16 – Confiscation Risks
12:15 – Swapping Gold/Silver
14:39 – Investor Activity
17:04 – Mainstream Interest
17:31 – Numismatic Hype

Guest Links:
Amazon Book:

A graduate of the University of Colorado, Bill Haynes has been 50 years in the investment world, with 45 years as a precious metals bullion dealer. He has headed CMI Gold & Silver since 1973.

Reading Bill’s blog posts and CMI Gold & Silver’s website, you will quickly learn that he has remained faithful to gold and silver bullion as the best form of protection against currency debasement. Never once promoting high-priced collectible coins that offer much greater profits to dealers but less protection to buyers.

Bill’s Myths, Misunderstandings, and Outright Lies, a warning about the dangers of collectible and numismatic coins, has achieved legendary status among gold and silver investors. No first-time investor should write a check for numismatic or collectibles coins without first reading it.

With massive inflation by the Fed to finance our welfare state and foreign wars, Bill sees a greater need to own gold and silver now than any time in his 45 years as a bullion dealer. With his blog, Bill hopes to educate still more Americans about the benefits of owning gold and silver.

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