Unsound economic policies partially explain income inequality issues as well. Paul noted that he was in New York City the same day earlier this month when the stock market set a new record. It just so happened that it was reported the number of homeless in the city reached 50,000 the same day.
Paul's attitude towards buy and hold seemed to be confined to equities. When it comes to gold, he took a different position. Recalling that some financial observers dissed him in the 1990s when stocks were soaring and gold was floundering, Paul said it didn't matter that much to him since he had buying gold in 1971 at prices close to $35 an ounce. At that point in time, it was almost guaranteed to appreciate since the U.S. government had suppressed the market for 25 years by fixing the price at $35 an ounce in 1946.