The Round Rock Wealthbuilder's Meetup Message Board › Haynes - Gold & Silver Buyers Outpacing Sellers 50 to 1
|Dan Caldwell - Wea...||
Round Rock, TX
April 13, 2013
Today 41-year market veteran Bill Haynes warned King World News that we are already already on the verge of seeing major shortages of available retail bullion products. Haynes also said gold and silver buyers are outpacing sellers by a stunning margin of 50:1, and he is now seeing premiums on physical products that haven’t been seen in decades. Below is what Haynes had to say in this extraordinary interview.
Haynes: “Eric, last week we sold more gold and silver than we normally sell in a whole month. On Friday alone it was astounding because we sold as much physical bullion as we would normally sell in an entire week. There is a great deal of big money coming into the market on this decline.
If buying continues at the rate we saw on Friday, there will be immediate shortages of product....
“We will see instant shortages of silver products such as silver rounds, 10 ounce bars, 100 ounce bars, silver eagles, and silver maple leafs if this relentless demand continues. Silver eagles and silver maple leafs are already seeing delayed delivery.
In other words, the mints can’t keep up with the demand for those coins. The US Mint could easily have another record year of 40+ million ounces of American Silver Eagle sales. I would also add that there are already premiums on 90% silver coins that we haven’t seen in decades.
But the buying is coming in huge for both gold and silver. The physical gold market is on fire as well. Our largest 7-figure order this week was specifically for one ounce gold bars. There was also big buying of American Gold Eagles. This massive buying is taking place in the entire metals industry right now.
Buyers are already outpacing sellers by a stunning 50 to 1 ratio. We are seeing the beginning of shortages, but this will only accelerate if Western governments continue with this raid on gold and silver.”
This is why I cannot stress to you enough that we will see immediate shortages of product if this continues. If another ‘Black Swan’ happens I can promise you we will see immediate shortages of gold products as well.”
Ian told me that as the takedown in gold and silver was occurring in 2008/2009 that he was getting calls from New York all day, every day. Guess who was calling him? Bankers from New York. The bankers from New York had only one question: “Who is doing all of the physical buying?” Ian told them, “It’s people from all over the world (outside of the US and Western Europe) trading in their fiat money for real money.”
The same thing is happening again today. It's the exact same setup as the gold market bottom in 2008.
Read more: http://kingworldnews....