Haynes – Each Time A Major Gold Bull Market Has Followed, Plus Schiff Says Gold Is Screaming Inflation
Haynes – Each Time A Major Gold Bull Market Has Followed, Plus Schiff Says Gold Is Screaming Inflation from King World News
With the war in the gold market continuing, today 46-year market veteran Bill Haynes told King World News, “Each time a major (gold) bull market has followed.” Plus Schiff says gold is screaming inflation.
Each Time A Major Gold Bull Market Has Followed
July 11 (King World News) – Bill Haynes, 46-year market veteran and Founder of CMI Gold & Silver, the largest gold dealer in the US: “Eric, I’m telling you the indifference is incredible when it comes to gold and silver. I’ve been in the business for over four decades and I’ve seen 3 major bull markets in gold. And whenever I’ve seen indifference like we are currently seeing, each time a major bull market has followed.”
Powell Is Wrong
Peter Schiff: “Powell is wrong. The world does not need another reserve currency to replace the dollar. Gold is a much better reserve asset than any fiat currency. In fact, gold reserves legitimize the currencies they back. The dollar only became the reserve currency due to its gold backing.
Gold Is Screaming Inflation
Peter Schiff continues: “When will gold traders figure out that higher than expected inflation is not bearish for gold? The view that the Fed will fight inflation by raising rates is wrong. The Fed will not raise rates no matter how high inflation rises. Lower real interest rates are bullish for gold! Byron Wien just told CNBC’s audience that Gold’s rally is not telling us anything about future inflation. He believes its recent rise is solely due to geopolitical uncertainty. The truth is that gold is screaming inflation, it’s just than Wein can’t hear its cry.”