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 dont 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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