On Thursday I had Matt Warder of The Coal Trader back on the podcast to give us an update on everything going on with coal. We also talked about the Strait of Hormuz, the various ripples in supply chains and the general macro environment, and the impacts of AI on small business and other parts of the corporate world. For anyone interested in commodities and coal specifically, it’s a must listen. You can find The Coal Trader Substack below, but he’s also on Twitter.

Podcast Summary

* An overview of thermal and met coal markets, and how recent events put a floor under the different price benchmarks.

* The inflationary setup that is in the pipeline for the back half of 2026.

* China’s steel market, US tariffs, and how it ties in with coal prices.

* The different opportunities in the coal sector, and the Australian royalty regime that differentiates US producers from Australian producers.

* Fed policy and what Warsh might do as the new chair.

* Why he expects rates to head higher on a long-term basis.

* The impact of AI on small business, and the strengths and weaknesses of the technology.

* Book Recommendation: The Fourth Turning Is Here by Neil Howe.

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Yesterday I had Scott Osheroff back on the podcast to talk about what’s going on in financial markets and where he sees opportunities. We covered the complacency in financial markets and the complicated macro setup with the Strait of Hormuz and the tech IPOs in the pipeline. We also talked about rates heading higher, the commodities complex, and where he sees opportunities today. You can find Scott on Twitter and on Telegram.

Podcast Summary

* The complacency in broader financial markets with a complicated macro backdrop.

* How the global SPR releases have temporarily covered the Strait of Hormuz problem.

* The high profile IPOs in the pipeline, and how his Mongolian stock broker called him asking about the SpaceX IPO.

* The hyperfinancialization of markets and the economy, and why financial markets are just responding to the incentives and regulations in place.

* Why rates will continue to go higher until we get to yield curve control.

* How advances in crypto, stablecoins, and tokenization will change financial flows and potentially lead to T+0 settlement.

* His view on the different commodities, and why he’s expecting a better buying opportunity in the future.

* Why the cannabis sector is an interesting pond to fish in for value investors.

* Book Recommendation: Lords of Finance by Liaquat Ahamed.

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Yesterday I had Dave Collum and John Polomny on the podcast for a great three way conversation about financial markets, the economy, and the future of the US. If you want to hear us rant about the SpaceX bagholders that will be created, or the asset stripping that has been going on in America, or the various problems in the medical and food systems, you will enjoy this one. It was a great combination and one that I hope to do again in the future. You can find Dave on Twitter, or under his desk. You can find John’s Substack below, but you can also find him on Twitter, and his weekly market updates on YouTube are a must watch.

Podcast Summary

* The insanity in financial markets, future SpaceX bagholders, and what Warsh means for the Federal Reserve.

* The asset stripping and rent seeking design of our economy, and how we have moved away from an economy that produces real goods and services.

* How many investors don’t know what they own, and what it means that many investors are now in a position where they can sell their entire portfolio with one click.

* Why college is going out of favor, and some examples of jobs that will be more important in coming years.

* How a secular society led to religious movements around climate change and DEI.

* Why the Strait of Hormuz is going to lead to significant supply chain disruptions after we burn through the inventories.

* The COVID psyop, how it damaged people, and led to an acceleration of the asset stripping of small businesses and the middle class.

* How all vaccines are a scam.

* Why the only way the elites get punished is through frontier justice, outside of the legal system.

* How to survive an American system that could be in the process of breaking apart.

* The data center buildout and if AI is an investable technology.

* Why they are both defensive in this current market environment.

* Book Recommendations: Vaccines, Amen: The Religion of Vaccines by Aaron Siri & The Moth in the Iron Lung: A Biography of Polio by Forrest Maready.

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Yesterday I had Dan Herrin back on the podcast to talk about the insanity going on in financial markets and the insanity going on here in the US. He explained why he is bullish on energy and the pattern recognition on broader markets and the comparisons to 2000. We also covered some of the different problems facing the US and the changes that have happened since COVID. You can find Dan on Twitter, where he’s a very entertaining follow.

Podcast Summary

* Why he’s expecting issues in the oil market and why he’s very bullish on energy for the second half of the year.

* The insider trading, fake headlines, and market manipulation that has become more obvious in recent months.

* Trump’s path out of this mess, and the possibility of an export ban.

* Why the broader stock market reminds him of 2000.

* People acting different since COVID lockdowns here in the US, and how we seem to be fine with memory holing the entire series of events around COVID.

* What Americans actually want from the Federal Government: no more forever wars and dropping the hammer on immigration.

* The corrosive effects of the Kalergi plan and feminism on Western society.

* Book Recommendation: Stranger to the Game by Bob Gibson.

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Yesterday I had the Colonel back on for part 6 of our CIA Files series. This week we talked about Greece, and the British and American intelligence operations there in the wake of WWII. The primary motivation was to get Greece into NATO, but they had to deal with the native ELAS resistance force first. We also talked a little bit about Ivanka Trump’s and Jared Kushner’s plan to turn the island of Sazan, a former Soviet base, into a luxury resort. It’s just another example of current events tying into regional events of past generations, but this was a good conversation on Greece and a couple topics from things going on today. You can find Colonel Towner-Watkins on Twitter and Rumble.

Podcast Summary

* How the British & the Americans teamed up with Germans to fight the Greek resistance force, ELAS.

* The regime change forced on Greece by the US and Britain, and how the native population responded.

* How the Greek government and intelligence agencies teamed up to build a black site prison on one of the Greek islands.

* The massive amount of money the US poured into Greece in the post WWII period, in the form of weapons, planes, communication equipment, and portable docks.

* The driving motivation to get Greece into NATO.

* How the media coverage of events in Greece show the intelligence influence over all of the mainstream media outlets, even at that time.

* The limited hangouts that happen when we get “investigations” into intelligence agency activities.

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Yesterday Will Tanner of The American Tribune returned to the podcast to discuss Noblesse Oblige, which is a topic I have been thinking about a lot recently. We talked about the insanity of some of the different policies here in the US, the administration’s focus on foreign affairs over domestic issues, and how to fix some of the most important problems facing the country. Will’s a must follow for anyone interested in history, and it was a great conversation on questions that need to be answered. You can find Will on Twitter, as well as on The American Tribune Substack.

Podcast Summary

* How the early tobacco economy in Virginia is one example of Noblesse Oblige in America.

* The various policies that are breaking down in America.

* What the difference in TFR between liberals and conservatives means for the future of the US.

* Why support for democracy is declining among younger generations.

* The impact of immigration, and why he’s hoping the administration can accelerate things on that front.

* Why he has been reading about the booms and busts of the railroad industry and the comparisons to data centers.

* The idiotic policy the country has on managing resources like water, and how subsidies and economic incentives create distortions in the agricultural economy.

* The advancements in AI and what it can actually be useful for.

* The media slop environment and its secondary effects.

* How to fix the legal system with one simple step.

* Why the biggest problem the system faces is the question of legitimacy.

* Book Recommendation: Cadillac Desert by Mark Reisner.

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Yesterday I had Aaron Clarey on the podcast for the first time. He has a very interesting background in finance and has written several books that are definitely worth a read. We talked about how the gender divide between men and women impacts the economy, the various parasitic influences in the economy and financial markets, and some potential solutions on how he would fix it. For anyone that wants an unfiltered look at the state of society and the economy, you will enjoy this one. You can find Aaron on YouTube and you can find his books on Amazon.

Podcast Summary

* His background in banking as an analyst and economist and his development of A*****e Consulting.

* How relations between men and women impact the economy, and why the mainstream financial institutions and media can’t address the underlying problems there.

* The political correctness that creates an inability to address the problems directly.

* College as an American birthright and why it’s not worth it for most Americans today.

* HR as a source for problems in the economy.

* Private equity’s role in the asset stripping of different industries and the enshittification of customer service.

* Why there would need to be a complete collapse to get rid of the different parasitic influences on the economy.

* The solutions that will be required to fix relations between men and women as well as fixing the economy.

* How colleges and institutions create artificial barriers on certain professions.

* His view on markets, inflation, and why having skills is the best way to be insulated from continued inflation.

* The Way of Monkey by Turd Flinging Monkey.

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Today I had Colonel Towner-Watkins back on the podcast for part 5 of our CIA Files series. We followed up last week’s episode on Italy with a deep dive on Operation Gladio and how it is the ancestor of the intelligence programs you see in today’s society. The history of these operations and their purpose is important to understand if you want to understand what is going on today. You can find Colonel Towner-Watkins on Twitter and Rumble.

“It’s an orchestrated terror campaign to manipulate the people in your country.”

Podcast Summary

* The stay behind units across Europe and the early history of the A-Team.

* The secret agreement to have a stay behind network in all countries that joined NATO.

* The ties between Gladio, Italian political officials, and the Vatican.

* How Gladio is the paramilitary operation under the umbrella of the CIA, and how these operations aren’t just isolated to a specific country.

* The Bologna train bombing in 1980 as the most deadly example of Gladio’s handiwork.

* What happened when Gladio was revealed in Italy and how long it took to deal with it.

* Why operations like Gladio are an orchestrated terror campaign to manipulate the people of a country.

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Yesterday I had Roberto Rios (aka The Peruvian Bull) on the podcast to talk about everything going on with financial markets, commodities, and Japan. We started with the ongoing meltup in the S&P, Warsh’s appointment at the Fed, but we also covered the AI buildout and Japan’s financial market situation. You can Roberto on Twitter and YouTube, as well as his Substack below.

Podcast Summary

* The meltup in the S&P and the difficult situation that Warsh inherits at the Fed.

* Supply chain disruptions and rising inflation.

* Rewiring global trade flows in the Middle East.

* Onshoring of manufacturing in the US and the ongoing reindustrialization of the country.

* The situation in Japan’s financial markets and the different crosscurrents in the Japanese economy that will likely be felt by global investors.

* How new military technologies and strategies contribute to asymmetric warfare.

* The problems with AI and the data center buildout, and what AI is actually useful for.

* Why every developed country is on the path towards more inflation.

* Book Recommendation: The Storm Before The Storm by Mike Duncan.

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Yesterday I had E.M. Burlingame and Veles from Rogue News back on the podcast for our first three way conversation, and hopefully the first of many. We talked about a bunch of topics, but we spent most of our time on the complex layers of the AI and data center boom, and how that ties into the complex layers of the elites. You can find E.M.’s Substack below, but he’s also worth a follow on Twitter. You can find Veles on Rogue News when he makes his appearances over there.

Podcast Summary

* How the data center buildout is a resource grab for land and water rights.

* The parallels this current investment cycle has to the dotcom bubble and other CAPEX booms of the past.

* The CIA and intelligence ties to large tech companies including Google and Meta.

* How the AI and data center buildout is masking underlying economic issues.

* How the data center push might be a disguise to improve America’s crumbling infrastructure.

* The hyperfinancialization of the economy and markets, and why private equity should be outlawed.

* The possibility of muddling through without crashing the economic and financial system.

* How immigration has distorted the system, and the number of people that need to be removed from the country.

* Why noblesse oblige is missing from our elite class, and how the US was setup as a self-ruling feudal system.

* The different layers of the elite class, and why they are fighting today.

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