Ron Paul Liberty Report “Recession, Iran Conflict & the Dollar's Future Phillip Patrick Breaks It Down”_1
Jun 20, 2025
In this discussion, economist Phillip Patrick from Birch Gold shares his expertise on the current U.S. economic landscape. He highlights how military tensions with Iran are influencing energy prices and inflation, leading investors to flock to precious metals like gold. Patrick also examines the intertwined nature of U.S. foreign policy and economic stability, addressing tariffs and their impact on trade, especially with China. Furthermore, he warns about the U.S. dollar's fragile status as a global reserve currency and explores gold's critical role in modern monetary policy.
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Geopolitics Fuel Inflation & Gold
- Regional conflicts like the Iran tension drive up oil prices and energy costs, which fuel inflation globally.
- Such geopolitical instability increases financial market fear, boosting gold as a safe-haven asset.
Deficit Growth Threatens Stability
- U.S. deficits are soaring, nearing nearly $5 trillion over the next decade, worsening financial instability.
- There's little political will in Congress for the austerity needed to cut spending substantially.
Ferguson's Law and U.S. Empire
- We risk falling into Ferguson's law: empires collapse when debt service outspends defense.
- The U.S. currently spends more servicing debt than on defense, jeopardizing its global power.