Hello everybody and thank you for tuning into the Liberty Report.

Today we have a special guest, one who's been here before, and many of you know about him and know who he is.

It's the economist from Birch Gold. His name is Philip Patrick, and he is in charge of and knows a lot about metals and economics and all those important

things.

So I have a few questions for you, Philip.

But first I want to welcome you to the program.

Thank you very much for having me, Dr. Ball.

Good.

You know, this week there was a major announcement by our administration and our president

that on the moment the terrorists would be dramatically increased and life would change

for a lot of people, and a lot of people would lose a lot of money.

And it was called liberation day you

know that that could be a neat term you know libertarians by you i say hey liberation that's what we

want we want to be free but what what did you what do you take from that uh is there going to be a liberation

or is his is the President's definition of liberation

a little bit different or do we have to just wait a while to find out what it really means?

I'm leaning towards the latter, I suppose. You know, what we've seen on the back of the announcement, of course, is historic swings in asset prices, some of the biggest leaps and plungers we've ever seen in market history.

And, of course, economists and analysts doubled down now on recession fears. Of course, abrupt shifts in trade policy.

They disrupt global supply chains and cause big problems for the markets, as we've been seeing.

There was a lot of pressure, I know Jamie Diamond and others went and spoke with the president,

and on the back of that, we saw a pause for 90 days on most tariffs outside of China.

China, of course, have taken a confrontational approach, hit us back with reciprocal tariffs of around 84%.

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