Ron Paul Liberty Report - Unemployment Crisis 2025 Philip Patrick’s Warning Signs to Watch
Aired: 2025-12-12
Duration: 02:35


=== Gyrations in Value (02:35) ===

[00:00:00]  We have the economist from the Birch Gold Group, Philip Patrick.
[00:00:06]  He's an expert on precious metals, and we will once again pick his brain and get him to answer all the questions that we have.
[00:00:15]  Philip, it's good to have you on the program again.
[00:00:19]  It's an honor.
[00:00:20]  Thank you for having me, Dr. Paul.
[00:00:21]  Very good.
[00:00:22]  You know, there's been a lot of gyrations going on, you know, in the markets.
[00:00:26]  Stocks are way up.
[00:00:29]  You know, I keep thinking about Mises' prediction of a crack-up boom, and some of that stuff is cracking up, but not quite what Mises predicts.
[00:00:40]  He says everything goes, and everybody rushes out of money, and they buy stuff no matter what.
[00:00:45]  But there are days, I imagine you've recognized them, where gold, boy, just look at what gold's doing.
[00:00:52]  You say, it can't be rational.
[00:00:54]  And yet I say to myself, but we predicted this.
[00:00:58]  People do about it.
[00:00:59]  Austrian economics taught this.
[00:01:01]  So it is believable.
[00:01:02]  It's still shocking.
[00:01:04]  And same way with silver.
[00:01:05]  Who would have ever thought?
[00:01:07]  Well, a lot of people have.
[00:01:09]  They thought about it.
[00:01:10]  They knew it could happen.
[00:01:11]  But then still were shocked that it happened.
[00:01:14]  $60 for silver.
[00:01:17]  So there are a lot of gyrations.
[00:01:20]  But the big thing is, is we always talk about price of silver and precious metals and gold.
[00:01:26]  But we should always be talking about the value of the currency.
[00:01:31]  And the dollar is under siege, and it's the reserve currency of the world, and it makes a big difference.
[00:01:39]  And it's under an attack.
[00:01:43]  And this to me is very, very serious as far as things go because people work with the dollar and they have a unit of account.
[00:01:55]  And we have essentially a unit of account that's universal because we have the reserve currency of the world.
[00:02:01]  But the whole thing is the unit of account should be something you could define and be relatively stable, but not.
[00:02:10]  So we end up with statistics and telling us what's happening.
[00:02:14]  So I'm not surprised that it's difficult to figure out exactly what is the employment doing.
[00:02:19]  Sometimes we see it, oh, it looks like employment's fine.
[00:02:22]  And then you look at another spot, businesses are closing down and they don't coincide.
[00:02:28]  Do you have a thought on that, on why we might be getting these different statistics?
[00:02:34]  They don't seem to be conventional.