The retired…[Texas] congressman and one-time presidential contender is aggressively recommending that investors buy gold to protect themselves from a major correction in the equity market.
The original article has been edited here for length (…) and clarity ([ ])
“The deficit is skyrocketing like never before,” Paul said in an interview. “The market is destined to go down”…due to the Federal Reserve’s quantitative easing (QE) program, which pumped massive liquidity into the markets and all that cash has fueled significant bubbles, Paul believes. He thinks stocks could fall 50% from current levels.
10-Year Gold Price. Source: GoldPrice,org
…Paul argues that due to growing deficits the stock market isn’t actually getting stronger. Rather, prices are increasing…[to artificial heights], which is creating a “real mess”…Paul likes gold as a safe haven and, despite the fact that he already owns some, he plans on buying more….given the current market conditions.
How do you feel about Paul’s announcement? Are you bullish on equities or do you agree that it’s time to hop on the gold bandwagon? Let us know!
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