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John Paulson's Scary Speech: Double Digit Inflation By 2012, Gold At $4,000
John Paulson scared the pants off of a packed audience at New York's University Club recently as he warned them of huge changes in the economic environment in the years to come.
Forbes' Bob Lenzer reports Paulson's saying:
“If you don’t own a home buy one."
”If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”
Paulson has been bullish on housing for a while now (he runs a housing recovery fund), but this is him hitting super-bull territory. His reasoning is that home prices are great, the bond market is dead, and commodities like gold, which he also has a big prediction for, are on the rise.
According to InfoWars, he told the audience that he thinks the price of gold will hit $2400-$4000. And a whopping 80% of his assets are in gold.
Given his expectation for further money printing by the Fed – and that in 1980 the gold price rose by 100% more than the correlation implied – Paulson noted that the price of gold could hit $2,400 based only on monetary expansion, and as high as $4,000 per ounce based on a projected overshoot.
Lastly, he noted that 80% of his assets are denominated in gold.
We rarely get to hear Paulson's opinion on the market unless it's filtered through his stiffer research reports. As a result, he has never been so extreme in his predictions as he seems to be now.
Here's what Paulson sees coming:
It's worth noting that if gold goes to $4,000, Paulson will be a top contender for the richest man in the world.
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Government it is necessary to remove from the minds of men their individualism,
their loyalty to family traditions and national identification" Brock Chisholm - Director of the World Health Organization
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believe that their government and their media will routinely lie to them and fabricate a
reality contrary to verifiable facts, is a society that chooses and deserves the Police
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get." Ian Williams Goddard
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