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

With us today we have Daniel McAdams, our co-host.

Daniel, good to see you today.

Happy Monday, Dr. Paul. How are you?

Doing fine. Thank you.

All right.

Better than the budget.

That is the U.S. budget.

There's a few other budgets that have skyrocketed.

And I always remind people that one of the worst things about the inflation and the debt and the spending is the maldistribution of wealth.

You have more and more now trillionaires and billionaires at the same time there's a lot of poor people who, they wonder if there's going to be a recession.

There's a significant percentage of people now who already have their recession because

they can't handle the price increases. But I maintain that the most important thing for people

to watch will be, you know, the inflation figure, saying debt. And debt is something that has basically gone up almost automatically.

And today there was a report that they have to do some refinancing of a trillion-dollar corporate debt

added on to many other things.

Yesterday we talked about the debt that is outside the

regular banking city and almost half of the financial instruments are done outside of

regular banking and yet they will be backed up by the Federal Reserve eventually. So debt is a big deal.

And you know I remember so clearly in the 1970s because that is a big deal. And you know, I remember so clearly in the 1970s because

that was a big deal because they eliminated, you know, the restraint on the Fed, which wasn't

working, and they got rid of the convertibility of dollars into gold with the closing of the

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