Ron Paul: “Not a Total Shock” If Stocks Drop 25% and Gold Jumps 50% by October

In a recent appearance on CNBC, former Republican congressman and outspoken libertarian Ron Paul suggested those stock market investors who’ve seen monstrous gains in their portfolios for years might want to re-think their positions just a bit before too much more time passes.

2017-07-10_6-08-30                                      Paul, speaking on “Futures Now,” echoed the sentiments of a growing number of learned voices who believe not only that the market activity of recent years is unsustainable, but that the very underpinnings of the nation’s economy are not nearly as strong as many think. As a matter of fact, Paul thinks the market is in for a major correction, and that precious metals will benefit from the significant backslide in equities.

“If our markets are down 25 percent and gold is up 50 percent it wouldn’t be a total shock to me,” said the congressman.

“I think it’s a very precarious market, and the Fed better be very careful. Since they are incapable of knowing what to do, I don’t expect much good to come out of anything they do,” Paul continued.

“There are so many mistakes made out there that the correction is almost unlimited.”

Paul conveyed the thoughts of many right now when he added:

“People have been convinced that everything is wonderful right now and that stocks are going to go up forever. I don’t happen to buy this. The old rules always exist, and there’s too much debt and too much mal-investment. The adjustment will have to come.”

The information contained here is for general information purposes only. The Financial Writer blog and Bob Yetman disclaim responsibility for any liability or loss incurred as a consequence of the use or application, either directly or indirectly, of any information presented herein. Nothing contained in this article, or any other article featured at this blog, should be construed as a solicitation or recommendation to engage in any financial transaction. You should seek the advice of a qualified professional before making any changes to your personal financial profile.

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