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:
- 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.