4.8 • 1.7K Ratings
🗓️ 3 June 2025
⏱️ 11 minutes
🧾️ Download transcript
For the first time in 100 years, all 3 major credit rating agencies have downgraded the U.S. to AA. Jamie Dimon warns of cracks in the bond market. The panel breaks down national debt, Trump's spending, and why bullets—not Bitcoin—might be the real hedge.
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0:00.0 | I don't know if you guys saw this or not. First time in 100 years, U.S.'s a credit rating rating |
0:05.9 | is officially AA from all three rating services. I don't know if you heard about this. First |
0:11.3 | time in 100 years, right, if I'm not mistaken, since the 20s, 1920s, that we now have |
0:16.6 | double A with Fitch, double A with Moody, and double A with SMP, all three of them. |
0:21.7 | Okay, so this doesn't happen. |
0:22.7 | What does that mean? |
0:24.0 | You know, when you, when I was selling junk bonds or you sell bonds and you buy a junk |
0:29.1 | bond, they would pay 20% or 24% or 18%. |
0:33.4 | What is a junk bond? |
0:34.6 | Like, oh my God, it pays 18%. |
0:36.3 | Yeah, but it's most likely to go out of business |
0:38.0 | because they're not going to be able to pay off the debt. |
0:39.5 | It's like a desperation deep paper. |
0:41.7 | But if you get something that's like, oh, pays three and a half percent, |
0:44.2 | treasury bond, it's a T bill, it's a T bond, it's a 10 year, it's a. We were talking about this yesterday, Brandon. So I'm going to come to you here in a minute. |
0:54.9 | But I want to play a clip for you guys from Jamie Diamond. |
0:57.8 | Rob, if you can play the clip of the crack in the bond market, you know, if you have the, is this the one? |
1:04.3 | This is it. |
1:04.8 | Go for it, Rob. |
1:05.5 | Play this clip. |
1:06.4 | You know, these are very large numbers. |
1:10.2 | You've seen it a little bit. |
... |
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