The new gold bull market is off to a powerful start. According to gold expert and former Congressman Ron Paul, it will move sharply higher by the end of next year.
He confidently predicts that gold to reach $3,000 an ounce by the end of 2020.
Actually, says Dr. Paul, that’s a cautious prediction. Especially since gold has already risen $500 from its 2016 low.
We are in a period of a disintegrating monetary system, he says, “Warning signs are all around us!”
The endpoint of these monetary and debt problems can come upon people suddenly, as though in the dead of night when some event occurs that causes them to panic.
In the meantime, Dr. Paul asks skeptically, “If you have savings, are you going to put it in a C.D?” He points to the trillions of dollars of negative interest rates bonds proliferating around the world. At some point, people will rush out of those instruments and want to buy real things.
That is what the great economist Ludwig von Mises called “the crack-up boom.” It’s the sudden awakening of the public that the currency itself is corrupt and headed toward worthlessness. They become anxious to exchange their currency for anything tangible. When that happens, prices will go up all over. And liquid monetary assets like gold and silver are especially prized.
In that event, says Dr. Paul, when the big crisis hits, it is conceivable that his prediction of $3,000 gold will prove to be far too modest.
Dr. Paul is the author of Gold, Peace, and Prosperity, End the Fed, and The Case for Gold.
Watch Ron Paul’s discussion, “Where Does Gold Go from Here?” on the Liberty Report.