U.S. Government Credit Rating Downgraded - What Does It Mean?
Ron Paul Liberty Report
Ron Paul Liberty Report
4.9 • 2.3K Ratings
🗓️ 4 August 2023
⏱️ 30 minutes
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| 0:00.0 | Hello everybody, and thank you for tuning into the Liberty Report. |
| 0:04.8 | With us today is Chris Rosini, our co-host, Chris, welcome to the program. |
| 0:09.9 | Great to be with you, Dr. Paul. |
| 0:11.9 | Good. |
| 0:12.9 | You know, big news this week, if you're interested in finances, which we are especially interested |
| 0:18.3 | on Fridays because that's Birch Gold Group Day and we talk a little bit about gold always, |
| 0:26.6 | but there's usually something in the market, something going on that makes it much more |
| 0:32.2 | necessary to emphasize the importance of gold. |
| 0:35.9 | Because a major event occurred this week, and it's long time coming because it probably |
| 0:42.0 | could have been said years ago that the dollar and the bonds are being downgraded. |
| 0:49.3 | US bonds are downgraded by a major grading service, Fitch. |
| 0:53.9 | They say, no more triple A stuff, double A plus a little bit more. |
| 0:59.7 | They have to be cautious, they don't want to cause a panic, but this is a significant |
| 1:04.8 | event. |
| 1:05.8 | But it's something that most people know, and I was mentioned to Chris, I said, you know, |
| 1:10.9 | I think even the ones that act differently on it, they know what it is, but they have |
| 1:15.4 | to figure, what's the market going to do? |
| 1:17.7 | Today we're going to do this. |
| 1:19.1 | So there's a lot of that short time thinking. |
| 1:22.2 | Long term, it was very easy, matter of fact, these kinds of events, I thought much more |
| 1:29.2 | seriously about way back in the early 1970s and even in the 1960s because the handwriting |
| 1:35.7 | was on the wall. |
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