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John Paulson’s Scary Speech: Double Digit Inflation By 2012, Gold At $4,000

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Courtney Comstock
Business Insider
Sept 29, 2010

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.

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John Paulsons Scary Speech: Double Digit Inflation By 2012, Gold At $4,000 140410banner4

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:

  • Low double-digit inflation by 2012, killing the bond market, and restoring strength to equities and gold.
  • 2% GDP growth for 2011 and 2012
  • Gold hitting $2,400 to $4,000

It’s worth noting that if gold goes to $4,000, Paulson will be a top contender for the richest man in the world.

This article was posted: Wednesday, September 29, 2010 at 4:22 am





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