Billionaire investor Paul Tudor Jones has made so many brilliant investment calls in his lifetime. That’s why he is a billionaire, $5.1 Billion last time Forbes checked. I have a feeling there’s more in his vault now after he bought millions worth of gold bullion last year.
“I think one of the best trades is gonna be gold. If I had to pick my favorite [bet] for the next 12 to 24 months, it’d probably be gold… It has everything going for it in a world where rates are conceivably going down in the United States and going to zero, it has everything going for it,” Jones said.
Fast forward to 2020. Gold prices continue to raise the roof. In fact, Bank of America anticipates gold’s value to go up to $3,000 within 18 months.
Jones, for those of you who don’t know, predicted and profited from the stock-market crash on Oct. 19, 1987. The Dow lost nearly 23% of its value, marking the largest one-day percentage decline for the blue-chip benchmark in its history.
So when Jones started buying gold, millionaires wanting to get into the billionaires club started following.
At the time, Jones didn’t know a pandemic was coming that would cause the subsequent economic collapse. His decision to invest in gold was based on weak monetary policies and faulty global economic system, not a pandemic.
For 75 years, the world has been working towards a truly globalized trade system. The machineries, policies, and processes we put in place are designed so that interdependencies between countries flourish. During the last several years, things are being reversed.
Jones believes that breaking down a century’s worth of policies and work, consequences become pretty bad. Often, they are not visible in the first several years but when it does hit, it’s devastating.
The recession and economic collapse Jones predicted wasn’t supposed to have been felt in another year or so but the coronavirus pandemic fast tracked it.
One thing is certain, the economic crisis was meant to happen. Jones isn’t the first one to predict this either. Naguib Sawiris, Lord Jacob Rothschild, and other billionaires talked of recession even before any clue of a pandemic reached any part of our horizon.
Another thing they all have in common is their investment in gold. As much as 50% of their wealth is being converted to gold.
“Remember we’ve had 75 years of expanding globalization and trade, and we built the machine around the belief that was the way the world was gonna be. Now, all of a sudden, it stopped and now we’re reversing that. And so, when you do something like that, when you break something like that, a lot of times, the consequences won’t be seen at first. It might be seen one year, two years, three years later. That would make one think that it’s possible that we go into a recession. It would make one think that rates in the United States go back towards the zero bound and of course in that situation gold is a screamer,” Jones said.
To date, Jones doesn’t think the coronavirus is the primary enemy of the economy. In fact, he believes that whatever effect the coronavirus has in the economy may be solved.
He stressed in March that — both as part of his market thesis and a matter of public wellbeing — the novel coronavirus, as deadly as it is, shouldn’t be sensationalized into an unbeatable plague.
“We’ve got to be careful not to mythologize this particular disease. We’ve got to be careful not to mythologize this into the pandemic Godzilla. We can beat this thing,” Jones said.
We share the same belief. We will beat this virus but the economic policies pushing the economy down will most likely require more work which is why it is imperative we follow the lead of billionaires like Paul Tudor Jones.
Invest in gold. It is safe. It is stable.
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