He's not known for being subtle when it comes to his stock market correction calls or criticizing Washington politics.
And as stocks reached new heights last week, former Republican congressman and libertarian Ron Paul listed inflation high on his list of concerns. Despite the Federal Reserve's recent observations that prices were actually low, Paul believes inflation is a dangerous distortion that could spark a pullback as deep as 50 percent.
"Inflation is all over the place," Paul said recently on CNBC's "Futures Now." "I think there's a ton of inflation. Bonds are representing inflation. These high prices in stocks — that's inflation."
Paul's latest thoughts came as the stock market was capturing some of its best gains so far this year, as the Dow flew above the 24,000 level for the first time ever on Thursday.
In addition, the Fed's preferred gauge of price pressures has been mired below 2 percent; during an economic expansion, inflation usually begins to tick higher. In spite of this, New York Fed President William Dudley said last week that he wasn't concerned about weak prices.