We Are Now Seeing Huge Orders For Physical Gold & Silver
We pay attention when Bill Haynes takes the trouble to write something, as he just did at Eric King's blog.
“I can tell you this is money that has been waiting patiently on the sidelines for weeks, and even months in some cases. The belief by these strong-handed buyers is that the bottom for gold has been achieved and it is now time to add to their positions. Savvy buyers know that summer is historically a great time to buy and that’s exactly what they are doing.”
Eric, this is the type of nonsense we see in the mainstream media when a bottom is being put in, and the Financial Times has been one of the greatest contrarian indicators for the gold market. I also find it interesting that this is the week the big buyers are making a statement with their physical gold and silver purchases. They are doing their buying right into the face of this ridiculous nonsense coming out of the Financial Times.”
Haynes also added: “I would also like to note that the world is waiting on Germany to bail out the rest of Europe. Perversely, if that happens I believe we are going to see tremendous strength in the euro. I don’t think it’s logical, but as the euro strengthens I expect to see a further boost in the price of gold.
What KWN readers need to be aware of is this is the worst financial crisis the world has ever seen. This is a financial crisis supreme, and the universal solution continues to be the printing of money. This will eventually lead to massive destruction of both the economies and the currencies that participate in this madness.
It will also lead to massive inflation. I know some financial managers have told their clients to have 10% or 15% in gold, but for the financial climate that we are living through right now, I firmly believe people should have 50% to 60% of their assets in the physical metals.”
To read the entire blog post follow the link below:
August 10, 2012 (Source: King World News)