This today is Chris Rosini, our co-host, Chris. Welcome to the program.

Great to be with you, Dr. Paul. Chris, once again, we are honored by the presence of the

economist from Birch Gold. And he's been with us several times now. Philip Patrick is here,

and he has to a lot explain to do. I don't understand what's going on these markets, and I've been

looking at him for 30 years. So Philip is going to straighten us out and explain all the problems

going on. Philip, welcome to our program again. Thank you so much for having me, guys. It's an

honor as always. Very good. Philip, I want to start off with talking a little bit about the Fed

because they're big in the news, not only this week, but eternally. The Fed has been an issue,

a big issue since 1913. Certainly since the middle of 30s, certainly since 1971, and all the

tragedies that have occurred with our dollar. But this week was very, very active, and they were

doing things, and I thought it was fascinating. They said that they would lower the rate of

increase in the interest rate because their solution to a weak economy is raise interest rates,

and the whole thing is fallacious. And I want to address the subject, and you're good at this,

is where did they get this authority? Is it a good idea that we think, and so many trillions of

dollars depends on a few words by a Federal Reserve, like, oh, next week we are going to do this,

and boom, boom, boom, the money exchange is, I just think it's a rather fragile system. But tell us

what you thought about this week. Did you get any reassurance that we're on a road to recovery,

and everybody's going to be happy next year? Sadly not Dr. Paul, it was a little bizarre. I mean,

the Fed, this Fed telegraphs more so than other Federal reserves have, and I think most people

were expecting a 50 basis point rate hike, but it was a little surprising or a little strange,

I should say, the whole point of these rate hikes ultimately is to lower inflation,

and rates hikes now are slowing, even though inflation isn't really, right? We've seen

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