Victoria Gold’s Eagle mine site groundwater highly contaminated, Yukon government says
Groundwater flowing from Eagle mine shows signs of high cyanide contamination, though much of the water is being contained on site.
John Paulson believes the economic fundamentals are going to drive gold a lot higher, according to a report by InfoWars.com. Speaking to University Club in New York City, he said that gold could go to $4,000 an ounce.
As for the gold price, Paulson remains very bullish on the yellow metal, noting that the price of gold has been highly correlated to the monetary base for as long as his firm, Paulson & Co., has tracked the data. 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 – a strong indication of his disdain for fiat currencies.
Paulson played the contrarian and was very bullish on housing.
In light of pending inflation, Paulson stressed that investors do not want to own long-dated liabilities, but rather should issue them. One of the most efficient ways for people to take advantage of this is through mortgages on residential real estate, noting that now is the best time in 50 years to purchase a home.
Paulson is president of a New York hedge and the subject of the book The Greatest Trade Ever. Paulson’s firm capitalized on the problems in foreclosures and mortgage backed securities during the Financial Crisis of 2007-2008.
