John Paulson's Motives
by Seth Lipsky
Fri, 1 Oct 2010 at 2:14 PM
The New York Sun's editorial “$4,000 Gold” deserves a caveat, in the view of Futureofcapitalism.com. The editorial, which is about a prediction of hedge fund multibillionaire John Paulson that the dollar could fall to a 4,000th of an ounce of gold, “leaves out the possibility that Mr. Paulson is talking his book, that is, that he's running around saying these sorts of things in part because he hopes that people will listen to him and buy more gold, therefore driving up the price of assets that he already owns. You can call it reflexivity or a self-fulfilling prophecy or whatever you want, but it takes the issue somewhat down from the level of ‘the drama of political economy’ that the Sun editorial refers to.”
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