Guest interview opportunity with Financial expert Phillip Patrick
The House just passed Joe Biden’s socioeconomic spending bill, “Build Back Better.” However, critics say the Bill is a boondoggle that will worsen, not improve, the economy. One such critic is Phillip Patrick of Birch Gold Group, who predicts that the Bill could have a catastrophic impact on an already struggling economy if passed by the Senate.
Q&A:
- What do you think the likelihood is for the so-called “Build Back Better” Bill to pass in the Senate?
Answer: It may or may not, but if it does pass in the Senate, you can count Joe Biden signing it into law. So, the Senate is the last hope of triggering more inflation.
- What is in this Bill that makes you believe it is not suitable for the U.S. economy?
- Touted as “infrastructure,” but if we take a closer look at what’s inside, it’s much more of an undercover stimulus package that adds another $367 billion to our debt.
- I have no problem building bridges, but I’m hesitant to build a bridge for which my grandchildren will be paying.
- What is it with politicians who tend to blue-sky Bills like this with fancy, friendly-sounding names to get them passed? After being burned time and again, at what point do you think Americas will finally see through these sugar-coated tax-and-spend proposals?
- It’s just marketing, like calling the invasive spying and financial anti-privacy Bill the “Patriot Act.”
- Build Back Better is a great brand, but saying it will add $0 to the deficit, saying it won’t create inflation, is gaslighting and nonsense.
- I think Americans are already waking up to the reality we won’t be able to keep kicking this debt can down the road, simply because we’re seeing today the inflationary effects of the last 18 months of government spending.
- Let’s talk about inflation. We’re seeing widely varying inflation numbers, with the government exempting specific large categories like gas and food, claiming they are too volatile to include in their formulations. Is that a fair way of measuring our pain?
- If you don’t eat or drive, that’s fair…
- If we measure by the Fed’s own formula from the 90s we’re seeing closer to 10% inflation.
- With bills like Build Back Better, how much longer do you think inflation can be contained to a steady drip before the damn breaks, and what might that look like?
- Inflation isn’t contained today, and that’s already bad enough.
- By the time the Weimar republic’s economy entered technical hyperinflation, the reichsmark had already lost 97% of its value.
- With the costs of virtually everything increasing, is there any safe haven left to preserve our wealth?
- It’s a challenging environment to navigate — I think it’s a case of understanding where our issues lie and what’s an effective tool to hedge the numerous risks we face today.
- Commodities generally have intrinsic value, though many tend to volatility.
- Where may we get more information on economic matters such as inflation and commodities that can be a hedge against inflation?
- Information in these conditions is critical because you start to see solutions for yourself once you see the big picture.
- At Birch Gold Group our mission is to empower Americans to take control of their financial futures.
Phillip Patrick is a Precious Metals Specialist and a spokesman for Birch Gold Group. He was born in London and read for his politics and international relations degree at the prestigious University of Redding. He spent years as a wealth manager at Citigroup in London’s Wall Street before taking his current position with Birch Gold Group in 2012.
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