PMQs #008 – Why the Financial World Order is Shifting

Summary

Podcast Summary: The Peter McCormack Show – PMQs #008

Episode Title: Why the Financial World Order is Shifting
Date: January 14, 2026
Host: Peter McCormack
Featured Guest: Conor McCormack

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Overview

This episode of The Peter McCormack Show dives deep into the unraveling of the financial world order, the dysfunction of Western democracies, and the rise of state authoritarianism, with a particular focus on the UK and US. Peter and Conor discuss how the debt-based economic system is fueling inequality, leading to societal and political chaos, and why traditional political solutions are no longer viable. The show is both analytical and candid, combining political ranting with economic critique and a libertarian flavor throughout.

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Key Discussion Points & Insights

1. Central Banks and Engineered Inequality

• Scott Bessant frames the Federal Reserve as the “engine of inequality,” pointing out that quantitative easing (QE) benefits asset holders at the expense of everyone else.
• Quote:

  “Ben Bernanke famously said... he told everyone go buy equities. Well, not everyone could buy equities. So we ended up with this two tier economy where either you were an asset holder or you weren't. I called the Fed the engine of inequality.” (Scott Bessant, 00:00)

• Peter expands on this, lamenting the broken mechanics of the debt-based system, which ensures the rich get richer and the poor get poorer, regardless of which party is in power.
• Quote:

  “This debt-based system will only make the rich richer and the poor poorer. The mechanics are screwed. It doesn’t matter who you vote in, you’re not voting yourself out of this.” (Peter McCormack, 00:22, 44:00, 43:59)

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2. Political Dysfunction and Leadership Crisis in the UK

• Peter and Conor mock current UK leadership:
  • Both slam Keir Starmer’s government as chaotic, directionless, and defined by U-turns and weak leadership.
  • Conor: “They are weak individuals. They do not feel like leaders.... I look at them and I’m like, how the... How have you got to that place where you are governing our entire country?” (03:04)
• Peter suggests Starmer would go down as an historical non-entity or “the worst prime minister ever,” but ironically suggests Starmer could become a “legend” by rage-quitting and exposing the system.
• Quote:

  “Just rage quit. Come out and say, I’m done. I can’t do this. The whole system’s broken. ...You’ll go down as a legend.” (Peter McCormack, 05:54)

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3. Free Speech, X (Twitter), and Authoritarian Drift in the UK

• The hosts dissect Labour’s attempt to clamp down on X (Twitter) after “Bikini Gate,” where AI images of people in bikinis, some involving children, led to demands for censorship.
• Keir Starmer clip:

  “Disgraceful. ...X need to get their act together. We will take action on this because it’s simply not tolerable.” (Keir Starmer, 07:08)

• Peter fiercely defends the necessity of free speech, especially speech we don’t like, and opposes platform bans in favor of prosecuting individuals who abuse the law.
• The rapid government response to ‘Bikini Gate’ is contrasted with the sluggish or absent response to more serious issues such as grooming gangs, suggesting political self-preservation is the motive.
• Memorable take:

  "If they ban this, what are they going to ban next? Podcasts?” (Conor McCormack, 15:24)

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4. Democracy, Managed Decline, and Political Hopelessness

• The discussion shifts to the broader impotence of the political system:
  • Voting no longer offers a solution; changing party only changes the “manager of decline.”
  • Reform, Green, Labour, Conservative—it’s all the same, as none address the fundamental architecture of the debt-based financial system.
• Quotes:

  "Your only other option really is to vote it out. But if the mechanics of the system are broke itself, what are you really voting for? ...You’re voting for a new manager of decline.” (Peter McCormack, 20:40-21:39)
  "This is why I don’t vote. And I think that... our choice is we either vote in a party who accelerate the decline or we vote in a party that decelerates the decline. But whatever happens, we get decline.” (Peter McCormack, 45:58)

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5. Fed Drama and US Parallels

• Discussion about the criminal investigation into Jerome Powell and the spiraling US debt.
• The hosts see the battle for Fed control as a proxy for more inflationary juicing ahead, regardless of administration, as political actors on both left and right seek to keep markets afloat through “lefty right authoritarianism.”
• Quote:

  “The Fed is meant to be independent, right? ...Their job is to control and support the economy. But we know Jerome Power hasn't been doing what Trump wants and so he's stepping down. ...if we flood the market with cheap money, the rich get richer and the poor get poorer.” (Peter McCormack, 43:54–44:09)

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6. Media Complicity and the Need for Systemic Reform

• Peter and Conor speculate if mainstream media like the BBC are ignorant or complicit in propping up the financial order.
• The debate is a “theater,” a distraction from the real underlying issue: government spending, money creation, and who benefits.
• Quote:

  “Not enough people are talking—there should be no bigger conversation right now... The only conversation we should be having right now is what is the debt? Why does it exist? Who benefits from it? Who gets destroyed by it? And how the fuck do we stop it?” (Peter McCormack, 48:25)

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7. Is Democratic Change Still Possible? The Milei Example

• The hosts reference Argentina’s election of Javier Milei as an example of a country that eventually embraced a radical libertarian Austrian solution when things got bad enough, but acknowledge the UK is likely a decade or more away from that level of desperation.
• Quote:

  “The UK needs ... a Milei type character... who understands libertarian principles and has the charisma and the media reach to sell this to enough people...” (Peter McCormack, 54:34, 55:45)

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8. What Are the Options? Exit, Reform, or Adaptation

Peter’s three options for surviving the system:

1. Constitutional reform: Reduce government power to protecting life, liberty, and property.
2. Leave the country: Emigrate somewhere freer.
3. Exit as much of the system as possible while staying: Move savings into Bitcoin, shop local, build parallel economic networks, minimize dependence on the state.

• Quote:

  “I can exit the system but help other people exit the system. ...Put as much money as you can in bitcoin, do as much as you can in a cash based economy and then just focus locally... create parallel networks that operate outside of government.” (Peter McCormack, 61:59–62:23)

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Notable Quotes & Memorable Moments

• On the Broken System:

  “Nothing’s going to change if we get a reform government or we get a Green Party... It’s the same people. ...You’re voting for a new manager of decline.” (Peter McCormack, 20:40-21:39)

• On Rage Quitting and Honesty in Politics:

  “Just rage quit... I cannot fix this. ...I promise you, you’ll go down as a legend. But you’re not going to do it.” (Peter McCormack, 05:54–06:27)

• On Free Speech:

  “Free speech is a fundamental freedom that you want in a democratic society, and it’s not for the speech you like. It’s always to defend the speech you don’t like.” (Peter McCormack, 07:45)

• On Boiling Frog Decline:

  “It’s that slow decline, which is the boiling frog. Harder to see.” (Conor McCormack, 46:47–47:07)

• On Media Complicity:

  “Are they complicit? Are they stupid? ...Do they actually know about the mechanics of this?” (Peter McCormack, 48:10–48:21)

• On True Libertarian Governance:

  “Bastiat was very clear that the government should do one thing and one thing only, which is defend life, liberty and property. ...The fairest thing the government can do is as little as possible.” (Peter McCormack, 57:33)

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Timestamps for Important Segments

• Fed and QE’s role in inequality: 00:00–00:22; 38:00–39:12
• Government and political incompetence (Keir Starmer): 02:34–05:54
• Debate over free speech, 'Bikini Gate', and Labour's authoritarianism: 07:08–18:30
• Political parties & managed decline: 20:33–21:39
• Jerome Powell investigation and Fed/US parallels: 37:15–44:09
• Why voting won’t fix it: 45:58–47:07
• Discussion of libertarian alternatives and the example of Javier Milei: 53:09–56:20
• Peter’s “three options” for escaping the system: 61:59–62:23

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Tone & Style

The episode is irreverent, skeptical, and at times darkly humorous, with a recurring sense of frustration at institutional incompetence and the inertia of the status quo. Peter is passionate and unapologetic, while Conor provides pointed, youthful counterpoints and skepticism.

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Conclusion

This episode is a bracing indictment of Western economic and political decay, with a call for radical libertarian reform or, barring that, individual and community-driven self-preservation. The hosts reject the possibility of electoral solutions within the current system and lay out the case for more fundamental change—either by a “Milei-type” leader or by opting out as much as possible.

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[End of Summary]

Transcript

[Scott Bessant]

Ben Bernanke famously said when he was asked what's the purpose of qe, he told everyone go buy equities. Well, not everyone could buy equities. So we ended up with this two tier economy where either you were an asset holder or you weren't. I called the Fed the engine of inequality.

[Peter McCormack]

You know, funny thing on this is keep talking about this. I mean it's pretty much what we focus most of the show on, the guests, the PMQs, that this debt based system will only make the rich richer and the poor poorer. We say the mechanics are screwed. It doesn't matter who you vote in, you're not voting yourself out of this. And I just find it, I find it really depressing that there are so many people out there who know how this works. They know the mechanics work. They know that it's going to hollow out society. They know it's making the lives of the poor even harder. You know, when he wants to do anything about it. This show is brought to you by my lead sponsor, Aaron the AI cloud for the next big thing. Aaron builds and operates next generation data centers and delivers cutting edge GPU infrastructure all, all powered by renewable energy. Now if you need access to scalable GPU clusters or are simply curious about who is powering the future of AI, check out iren.com to learn more, which is Irene.com hello. Hello. Welcome to another PMQs. I'm your host, Peter McCormack. Got your boy, the radical Conor McCormack with me. And it's been another chaotic week. Loads of crazy stuff is happening. We have seen Trump increase his military budget. Looks like World War 3 is coming and potentially prepping for that. Our own government is in absolute chaos. Keir Starmer doesn't appear to know exactly what he's doing or have control of his government. And we've seen a revolution from the Iranians. It's pretty wild stuff out there but it all for me is tying back to the same thing. We made a show with Simon Dickerson, you should go and watch that came out a few days ago where we talked about all the money and how the money system works. All ties back to the same thing. So we're going to get into that and I do, I do really need to talk about our government. I do need to talk about Keir Starmer and what's going on because it's just chaos everywhere, non stop. Feels like day, it feels like daily chaos.

[Conor McCormack]

He has not got a Scooby. A Scooby.

[Peter McCormack]

It's so weird, man. So, like, when I was a kid, Connor, I would look at these politicians or these prime ministers and I would see them as these, like, I don't know, like, godlike, these important people who ran the country, and now just look at them as morons.

[Conor McCormack]

Children. Children.

[Peter McCormack]

My boy thinks our politicians are children. Can't be inspiring for you, man.

[Conor McCormack]

Not at all. They are weak individuals. They do not feel like leaders. Like, I look at them and I'm like, how the. How have you got to that place where you are governing our entire country?

[Peter McCormack]

Do you know what it is for me? It seems like they get everything wrong.

[Conor McCormack]

Everything wrong. And then stuff that they might be getting right, they then switch up on or it's just complete lack of control.

[Peter McCormack]

We're going to talk about some of those things. But for me, I do want to have a little rant about Keir Starmer, but I want to end on some hope for him because I think currently he is going to go down as either the worst prime minister ever, or people are just not going to remember him. It was funny. I was doing an interview yesterday and somebody, one of the questions they had for me, they listed all the prime ministers back into the Thatcher, and they said to me, can you name one good and bad thing they done? And so with Thatcher, I talked about how she reduced inflation, restoring kind of economic confidence, and the bad shit that she did was the poll tax, which cost her a job. And even with Tony Blair, who I literally hate, I think he's the epitome of evil for the Iraq war and how he created this deep state, I could still say, well, look, we had the Good Friday Agreement. He brought kind of peace to Ireland to some extent. And when I got to Keir Starmer, I literally could not think. I'm not being a dick. I could. I could not think of one good. Can you think of one good thing he's done? No, I could not think of one good thing he's done.

[Conor McCormack]

Maybe one. One thing was that being such a nuisance, it's woken enough people up to be like, I'm not happy anymore.

[Peter McCormack]

He's sick. Yeah, he's signal. He certainly signal. Well, look, I was thinking about this, though. He's going to go down as the worst prime minister ever. Possibly one of the worst. But actually, I think he can reverse that. I think he could go down as a total legend of a Prime minister. Because, like here, if you're watching, you're obviously not up to the job. I don't mean to be a dick, but you're not very good at this and we're in really tough times. While the BBC go on about whatever crap they go on about and the mainstream media avoids the main topics, the. The problem we have is we are in a debt based system. We're going to get more in debt, there's going to be more inflation, everyone's lives are going to be destroyed. We all know this, we've talked about it a bunch of times on the show and you can't fix this. There is no magical cure. I know you'll have people out there come up with some statistics that you'll keep releasing like, oh, we've reduced wait times at the nhs, but overall you're doing a terrible job and you can't reverse this because your party won't allow it. They don't believe in you, you don't have a backbone, you've got no leadership and you're a wet wipe. But you have one thing. There's one thing. You.

[Conor McCormack]

There's one thing.

[Peter McCormack]

Hear me out. This is what you do. You don't ask your advisors because they'll say, don't do this. But tonight, when you go up to bed, go to your bedroom, get your iPhone, put it on reverse camera and just rage, quit. Just rage, quit. Come out and say, I'm done. I can't do this. The whole system's broken. It's impossible. I'm really just here for Larry Fink and the Paymasters to keep them rich, keep the elites happy. I cannot fix this. It's impossible to fix. I rage, quit and be done. I promise you, you'll go down as a legend. But you're not going to do it.

[Conor McCormack]

Never.

[Peter McCormack]

Never.

[Conor McCormack]

That's not gonna happen.

[Peter McCormack]

You're gonna ban X. It's been a chaotic week for them though. If you've seen, there was the Chagos Islands thing, which is a disgrace in itself, that didn't get through the Pierce. Another U turn, Mr. U turn. How many U turns have there been now? U turn on the business rates which you did with the farmers and you did with PIP payments. Was it PIP payments? No, it's disability. Yeah, disability payments, the farmer's inheritance tax. I think you're going to be known as the U turn Prime Minister. But it's a real signal that you've got no control over your party or the country. And now you want to ban X, man. Come on. Should we play the video? We've got a video on this.

[Keir Starmer (clip)]

Disgraceful. It's disgusting and it's not to be tolerated. X has got to get A grip of this and Ofcom have full support to take action in relation to this. This is wrong. It's unlawful. We're not going to tolerate it. I've asked for all options to be on the table. It's disgusting. And X need to get their act together. And we will take action on this because it's simply not tolerable.

[Conor McCormack]

So we've got to mention that in light of people.

[Peter McCormack]

Bikini gate.

[Conor McCormack]

Bikini, yeah, bikini gate.

[Peter McCormack]

Okay, let's talk about this. Okay, first of all, first thing I want to say is that there are some people who don't like Twitter. X. I hate calling it X. I prefer Twitter since Elon Musk took over because it's. It's algorithmic free speech. I think that's fair. It is free speech. But, you know, the algorithm does decide what he wants you to see. And there's some pretty brutal and savage stuff on there. And I think a lot of people are upset about that. Some people do not, like, can't handle free speech. But let's just establish the base facts. Free speech is a fundamental freedom that you want in a democratic society, and it's not for the speech you like. It's always to defend the speech you don't like. So you have to accept all the crap that exists on Twitter because you want to be able to have people have the freedom to say whatever they want. And that means there's a bit of an adjustment. And I don't think. I think the thing about Keir Starmer is he's not very good at it, is he?

[Conor McCormack]

He's a dictator. He does not like you being able to say what you like. But is X free speech in the uk?

[Peter McCormack]

Well, yeah, it's a fair question.

[Conor McCormack]

We've had all these arrests and they all seem to be from X posts.

[Peter McCormack]

This episode is brought to you by Ledger, the most trusted bitcoin hardware wallet. Now, if you're serious about protecting your bitcoin, Ledger has the solution you need. Their hardware wallet gives you complete control over your private keys, ensuring that your bitcoin stays safe from hacks, phishing and malware. And I've been a customer of that since 2017. Love the product. Use it for my bitcoin. I use it with my Castle multisig for protecting the football club's bitcoin, too. Now, with Ledger's sleek, easy to use devices and the Ledger Live app, managing your bitcoin has never been more secure or convenient. And whether you're a longtime holder or new to the world of bitcoin, Ledger makes it simple to keep your assets protected. So if you want to find out more, please do head over to Ledger.com and secure your Bitcoin today. That is Ledger.com, which is L, E D G-E-R.com. that is Ledger.com. yeah. And then free speech really is about, can the government stop you saying things? So I think the background to this, when it came up with the Twitter files, whereby there was a relationship between the government and Twitter to block accounts, we had Trump banned from Twitter. And I think. And it isn't perfect free speech, I think there are responses to government, but generally we're getting to find out and see a lot of things on there that we didn't know. I mean, only over the last week, that dude who was doing all the Minnesota leering centers was able to come out and release videos on YouTube and X and talk about it. And we get these other really important things whereby some political leader comes out, Akir Starmer come out, and they say some bullshit that's a complete lie. And they get community noted. I think, is it 23 times Keir Starmer's been community noted. And I think that's a really useful part of democracy when. Because we used to be fed so many lies, so much bullshit from these people that actually they can't get away with it. The community note allows us to see when they're lying. I think even if you go on Keir Starmer's Twitter, I think his last tweet has a community note on it. He hasn't tweeted in a while. And so Twitter's been really important for stuff like that. And it's really funny. The thing that really bothers me about this is, I don't know, Bikini Gate feels like it started about a week ago. It's like, you can go on and somebody posts a picture. Say I post a picture of my cell phone. Maybe not Connor. That'd be weird. But somebody else will say, put Pete in a bikini. There's one up there of me and Tommy Robinson in bikinis. I laughed. I thought it was funny. But people were doing it quite regularly to women who didn't really want it. And so. And I think there was also some accusations of, like, there were child photos existing where people undressing. And I think we can agree, like, that's not good. We don't want that.

[Conor McCormack]

I mean, Elon Musk came out and said, anyone that was doing that, he would get to the bottom of and they would be dealt with.

[Peter McCormack]

Yeah, but it Comes down to what is the responsibility? Is it the tool or the user of the tool? If you ban the tool, if you ban X, you still can create these images elsewhere.

[Conor McCormack]

Right? Yeah. And I think that sort of links to incitement to violence. Who's at blame? The person that told you to go shoot someone, the person that actually shot him.

[Peter McCormack]

Where's the bar sit?

[Conor McCormack]

Yeah, yeah.

[Peter McCormack]

And I. I just think the thing that really gets me about this one is the speed at which they've replied. Look, we know. Look, we know whenever the government's pissed off about something, they send the messages down from HQ to all the MPs and they all whinge about it. So all the Labour MPs have all, in a chorus, been whinging about it, which means Narendra is going to whinge about it and Owen Jones is probably going to whinge about it and everybody on the left is just going to. Going to whinge about it and then everyone on the right is going to defend it under free speech and everyone entrenches their position. But the speed of response from the government, from complaint to involving Ofcom, to setting the conditions and the rules under the Online Safety act, it feels like it happened in days. Yeah. They didn't do this with rape gangs when thousands or tens of thousands of young girls were being raped across the country by grooming gangs. Kirstama even, like, he didn't even want to do an inquiry. He put it off, he delayed it. And it's like, why would the government. Sorry, why specifically would a Labor government want to delay inquiries into rape gangs? But all of a sudden, Bikini Gate means they have to instantly involve Ofcom and instantly start banning things. And look, it's pretty clear I'm not stupid with the rape gangs. They didn't want to expose a voting block because that voting block was demographically Islam. It was Muslims. And we know that. We know it's a large voting block for labor and they worried about what people would say and whether they'd be considered racist. We know why they did it. But then you go to X, which is a platform that they're terrible at. Every time they get. Every time they tweet, they get either community noted or they get ratioed. I think I've ratioed Kier three times now.

[Conor McCormack]

Yeah, you are enjoying.

[Peter McCormack]

It's so easy to ratio Labour Party MPs, because they're such liars. But we know why, and this is a government which has continually attacked our civil liberties. It's not just that It's Lammy doing his little tour now because he wants to get rid of jury Trials. It's digital IDs. It's every single authoritarian move they've made.

[Conor McCormack]

And they're not stopping.

[Peter McCormack]

No, they're not stopping. And look, but if you disagree with.

[Conor McCormack]

It, it's like, I hate this. If, if you want to even speak up against this, you're a nonce.

[Peter McCormack]

Yeah, you're an. I had it this morning.

[Conor McCormack]

Apparently you're a nonce.

[Peter McCormack]

Yeah, I wanted a. It's just. No, no, look, if you can, you can create the law for what is unacceptable. Undressing children, harassment, and then you can prosecute the individual. But they want to prosecute the platform, they want to put it onto the platform because they really don't want people using X. And look, it's a slippery slope.

[Conor McCormack]

I think everyone can agree getting pictures of children putting them in bikinis is terrible.

[Peter McCormack]

Yeah, we agree with that 100%.

[Conor McCormack]

If you are a sane person.

[Peter McCormack]

It's weird.

[Conor McCormack]

Yes. Same as with speech. If you go around being racist to minorities, you're a prick.

[Peter McCormack]

Yeah.

[Conor McCormack]

But you should still be allowed to do it and let the public decide.

[Peter McCormack]

You want social consequences.

[Conor McCormack]

I want social consequences. Because it's such a slippery slope. If they ban this, then what are they going to ban next? Podcasts?

[Peter McCormack]

I'm so proud of you right now.

[Conor McCormack]

This is like, this is where my line is. Because I think you get very quickly into complete control, which fucking terrifies me.

[Peter McCormack]

Well, we have that at the moment. And this is, this is a sad thing, is that. And this is the hysteria of the Pollux. The Pollux. This is the hysteria of the politics right now is that it's not like Kier himself is. I mean, he is a loser. It's not that he is actually exposing how the system is breaking. Right. This is all downstream from the debt based system which is breaking. And when a government is losing control, they try to increase controls. I mean, it's pretty obvious what's happening. But the problem is when we revolt against this, we're not just revolting against the government, we have to revolt against the public who want to vote for this, who are doing the bidding of the government because they're part of the problem as well. And this comes back to. I mean, you can go back. I was thinking of that Tony Ben video. Somebody put it up on Twitter this week. We should play it because this is all downstream from when we've put. I mean, this is the Ofcom point really, that we are putting the decision into the hands of a few people who. We don't know who they are, what they stand for.

[Conor McCormack]

Well, we do.

[Peter McCormack]

Well, we do.

[Conor McCormack]

We saw it recently. Not very diverse.

[Peter McCormack]

I mean, you, I don't think you're being misogynistic here.

[Conor McCormack]

No, I'm not. I'm just saying how can they give a good opinion for the entire population of the uk? Well, the, I think this is di reversed again. It's stupid.

[Peter McCormack]

Well, I think the thing on this is, is, it's, it goes back. We're going to play this, play the clip. What part you got, where did you get it from? In whose interest you exercise it, to.

[Scott Bessant]

Whom you're accountable and how can we.

[Peter McCormack]

Get rid of you? And if you can't get rid of the people who govern you, you don't live in a democratic system. And this, this is the thing about Ofcom. Ofcom is not really democratic. And I know some people argue or we voted for the government, they manage Ofcom, but they don't. This is where responsibility is delegated to these, these institutions. The photo came out, it was five or six kind of middle class looking white women. And I've got nothing against, Yeah, I got nothing against these. I don't know them, they might be very talented. But my suspicion is that politically I may be very different from them 100%. I'm a libertarian conservative.

[Conor McCormack]

I mean their institution is one which censors media.

[Peter McCormack]

Yeah. So their job is to control what you're allowed to believe and think and hear. They want to decide what adults are allowed to hear. But. So look, but it goes back to the point, it doesn't matter. They might all be crazy libertarians. They could be, but the point is we don't know who they are.

[Conor McCormack]

And we didn't vote them, we didn't vote for them.

[Peter McCormack]

We don't know who they are, we don't know whose interests they're serving. And so why, why should we trust. I mean, Ofcom just needs to go. Luckily they haven't come for the podcast yet. Come, come at me, Ofcom. And so I really just think that if you look at this, we've talked about the signal before, right? That everything is breaking. That's pretty clear. You agree? Everything is breaking. The reason we have a chaotic government, but we've got chaos on the global world stage. I mean, if you look at what's happening in Iran, you should go and look at Gladstein's Twitter, actually. He said something like, I don't know, I have the numbers wrong, but the currency has collapsed to Essentially zero. If you measure it in dollar terms, it's essentially collapsed to zero. And the global chaos and the domestic chaos is happening in this debt based system that's completely and utterly broken. And I think we see the symptoms here, right. It's not that it's like we. I mean, I think Keir Starmer should go. I'd get rid of him now, but who's going to replace him?

[Conor McCormack]

It's had a 42% drop in value in what period? In a month.

[Peter McCormack]

But look, everything is breaking. And so what are politicians? We know the role of a politician is to win power, maintain power and so on. A system that's breaking, what are they trying to do? What will they do? They're going to close the guardrails because they're trying to maintain that grip on power. But we've seen that rising reform, we've seen the rise in green and that is not a vote for a new party. That actually I think these are a vote against the system. Because we'll think about it like this. We've had Conservative labor and Labour the.

[Conor McCormack]

Way they think they can vote against the system. Yes, but really it's just voting for another part of the system. Yes.

[Peter McCormack]

Sorry to tell you this kids, it's. Nothing's going to change if we get a reform government or we get a green party. I mean the color does, the color changes and the people change. It's not all of them. If you're reformed, it's the same people. But I think it's a vote against the system because I think for most people it's like what options you got. You're so sick of constant failure, corruption, being lied to, taxes going up, you're having to accept less and expect less, everything getting more expensive. Like this inflationary environment that you have to live through with a clown show of a government. You're like, well what can I do? What are my options? Yeah, some people leave the country, I get that's an option. But your only other option really is to vote it out. But if the mechanics of the system are broke itself, what are you really voting for? You're voting for, I guess you're voting for a new manager of decline. That's it.

[Conor McCormack]

Yep.

[Peter McCormack]

Somebody else who's going to manage decline. A lovely manifesto will come out with all these promises and they won't be else to deliver it because the system itself and the incentives of the system are such that all you can do is manage decline. So yeah, this is the, this is the reality of what we're dealing With. And I would advise anyone listening to this is like, yeah, Pete, you're just like some crazy ranting online YouTube guy. Like, go and watch. Well, you can do two things. You can look around you and see everything's getting more expensive and everything's breaking. But go and watch the interview we did with Simon Dixon. It's out a few days ago. He explained it all. Go and watch that Tucker interview. What was that guy that was so cold?

[Conor McCormack]

Do you know, did you see the thing about where else X is banned?

[Peter McCormack]

No.

[Conor McCormack]

China, Iran, Turkmenistan, North Korea, Myanar, Russia, Pakistan, Venezuela.

[Peter McCormack]

I mean, I think the UK fits nicely within that list at the moment.

[Conor McCormack]

Currently. Yeah.

[Peter McCormack]

That's wild. I don't think, I don't think they will get away.

[Conor McCormack]

They won't, they won't get away with.

[Peter McCormack]

But then you say that it's the slippery slope ride. Like, what if, what if the setup is, you know, you have to ban. Because I think the reason they don't want to prosecute the individual. Because that's the easy thing. Right. If they put the responsibility on the individual. The law is you cannot undress kids and you cannot undress and harass people. Use an X, if you will. You'll be prosecuted like a tweet. That's a very easy thing to do. You create the law, Connor. You undress.

[Conor McCormack]

Yeah, but it takes a lot of manpower. You got to sift through all the suites.

[Peter McCormack]

No, no, think about it. Well, they're going to have to do that anyway and people will be able to report them. And you know, we're going to get that first arrest like within the next couple of weeks. Someone's going to get a knock at the door, eight police cars are going to turn up, SWAT team, riot police, and they're going to arrest a 65 year old man because he's. I don't know.

[Conor McCormack]

But honestly, I'm not angry about that.

[Peter McCormack]

Well, no, but I am.

[Conor McCormack]

No, it's Nancy behavior.

[Peter McCormack]

Well, no, it depends what he's done. It depends what he's done. But what I'm saying is it's like.

[Conor McCormack]

Anyone undressing kids on X, chuck them in prison.

[Peter McCormack]

Yeah. Don't get me wrong, I'm not talking about that. But it's the slippery slope. It's the ones where we've seen the tweets which aren't really that bad and people are being arrested. We saw somebody arrested the other day for feeding pigeons.

[Conor McCormack]

Yeah, no, of course I don't like the idea of banning it. But if they're gonna knock up on people's doors who've been undressing kids online. I'm cool with that.

[Peter McCormack]

Yeah. I'm not. We don't need to have that fight that argument. But it's. That's the easy one. But it's where it gets to the. It's like the sexualization of people online. So, for example, say, I don't know, say Keir Starmer tweets. I mean, next week. And I say, put Kira in a nappy. Is that broken the law? Well, maybe it has because it's embarrassed, Kier. Maybe I get a knock at the door, maybe I get arrested.

[Conor McCormack]

I understand your point, but I would. I would limit on kids.

[Peter McCormack]

But the point is what they're going to do. And what they're going to do is they're going to set the law on the platform and they're not going to set the law against the individual. Why?

[Conor McCormack]

It's a pretext. Likes Elon Musk.

[Peter McCormack]

No, that's not. It's a pretext to banning the platform. Think about it.

[Conor McCormack]

Yeah, but they don't like Elon Musk because he's brought free speech, or a version of it into our not so free speech system.

[Peter McCormack]

Sure, but Elon is about the individual. Sure, they don't like him, but the platform embarrasses Labor Day in, day out. They cannot get their messages out without being humiliated. So it's a net negative for the Labour Party right now. So if you want that gone, if you make it about the individual, they've got to arrest lots of individuals. The platform still exists. They still can't tweet without community notes. They can't tweet without being ratioed. But if they make it about the platform, the minute somebody undresses Ann Widdowcombe or Angela Rayner, oh, well, X has failed. We're going to have to ban you until you do. And then suddenly we don't have that platform here in the UK.

[Conor McCormack]

Yeah, but then we've got to ban Google ChatGPT.

[Peter McCormack]

Are they being embarrassed there?

[Conor McCormack]

The same thing.

[Peter McCormack]

Yeah, but I think what you're missing. The point I'm trying to make is I think this is a pretext to ban free speech in the UK via X, because it's. And look, if people then start going to Facebook, they'll do the same. But I think it's a pretext to get rid of speech. It's not going to work. The crazy. The crazy thing about this is, like, it's only gonna make people hate them more. Of course. I mean, they're Already delaying elections because they know they're going to lose those elections and get absolutely eviscerated in elections.

[Conor McCormack]

I think they're at the point where they realize there's no coming back and they're just trying to do as much as they can with the time they've got left. I mean, if you look at those projections, four seats.

[Peter McCormack]

Is it still four?

[Conor McCormack]

It feels like they're just. They're going out with a bang.

[Peter McCormack]

I think I read this week that one Labour MP said if they progress with one policy, I can't remember which one it was one of their stupid policies. I think it's jury trials said if they do that, he'll trigger a by election. Like, this is a Labour mp. It's not just a backbench vote. He's literally saying, if you proceed to get rid of jury trials, I. I'm going to trigger a by election. And what that means is that guy is essentially falling on his sword. That's a Labour MP falling on his sword, saying, I know I'll lose that by election, but you're going to lose an mp. And I don't know what their majority is, but how many could fall on their swords?

[Conor McCormack]

Why are they struggling so much? I mean, because this is an embarrassing amount. Like, at least you would hope they've got a way of somehow just holding on, but everything feels like it's.

[Peter McCormack]

Look, if we go back to Tony Blair, like, I'm not a Tony. I think I've made it clear. Right. I hate that man with a passion and I disagree with a lot of his policies. He created the deep state pretty much. I mean, if he didn't create it, he accelerated its growth and he led us into an. A legal war in Iraq. But the country felt good at the time. Like the economy was good. Everything felt good. I think the decline started since Thatcher, but I think it's been accelerated since Blair. And it's. That's like that flip from existential crisis to existential crisis. The left see the right as an existential crisis and the right sees the left as an existential crisis. Labor is so bad. This is how bad Labour. This is how bad Keir Starmer is that Zach Polanski is now considered by some voters to be a credible alternative. Zach Polanski is. Some people actually think he should be Prime Minister of this country. I mean, he is a moron. Can't run. No. But also, let's be serious, he doesn't understand basic economics. He doesn't understand when he was on the rest of Politics. They asked him who his inspiration was, and it was literal Marxists. But labor is so bad that they. That people think Zach Polanski should be Prime Minister. I'm sorry, but like the Prime Minister, it's a very serious job, right? It is not for a theater studies graduate. Is not for a. A be kind guy, boob whisperer. It's not for a tit whisperer. Sorry, Zach, but you're just not good enough for this. It's, like, for a serious person. And even on the left, like, this isn't me just picking on the left. A serious person, like a William Clouston would be for me, a credible character.

[Conor McCormack]

He would also struggle as well. Like. Like this. I'm trying to get to. It's like everything, no matter who's in power, if it's Trump or Kieran, right or left, everything just seems like a complete meltdown. Existential. Existential, like you said.

[Peter McCormack]

Yeah, but it's because the debt pile gets bigger. The ability for the government to be able to pay for the things that it wants to pay for gets harder. So they have their levers. Which is? Create money or tax people more. Tax people more. Pisses off the public. Create money creation, generates the inflation. And whatever happens, whatever they do, everyone just gets squeezed more. And so what can they do? I mean, that's a bigger question. I mean, I wouldn't vote for any of this shit. This is why I don't vote. And I think that. Look, the interesting thing is this isn't just happening here. You look across to America, it's exactly the same. Trump is failing on his mandate. Not entirely, but a large part of his mandate he's failed on. Everything's still expensive. The debt's at, I don't know, nearly 40 trillion now. And it feels like they print another trillion nearly every month. And they're going to have midterms this year, which are going to be hotly fought, and they're going to have another election in two and a half years. And the Democrats are going to make out that whoever follows Trump, whether it's a third term for Trump or it's J.D. vance or your boy Marco Rubio. Conor has a crush on Marco Rubio. Whoever it is, the left are going to say it is an existential crisis to this country if the Republicans win another term. And the Republicans are going to say, I don't know, say it's Gavin Newsom. They're going to say it's an existential crisis. And these swings are getting bigger each time. And the hatred is getting cut. I mean just the ICE thing, Right. I think the icing is just again more signal of a country and a political system that is breaking. We should talk about that ICE thing. So do you know what I found really weird about the ICE thing? Right. It's like when it happened, all the Republicans got an entrenched position defending this guy for shooting that lady in a. I don't know her name but in the car in the face. And all the left wing Democrats entrenched their position that she was just trying to drive away and it was murder.

[Conor McCormack]

Zero middle ground whatsoever now.

[Peter McCormack]

Yeah. But you know the weirdest thing about it all is it was like day after day there were new explanations, new camera angles, there were uh, slow mo's showed of it and, and people going into the like this detailed nuanced reason for why he was justified to shoot her or why he wasn't justified to shoot her. And then he did. And if you think about they had to. If you think about how they had to get new kind of slow mos and different angles, they're spending time trying to slow motion, look at a justification. Wait, what, what angle's the wheel pointed at? All it really is. Let me finish. Let's just. And then you go, then you think about it. It's like if you need all that detail and to be able to look at the car angle and the angle of the wheel and a different. Can we just go to the reality of the moment? The guy with the gun and the woman driving the car aren't thinking like that. She definitely didn't want to get shot in the face. If you just said to her, if you drive off, you're going to get shot in the face. She's not driving anywhere. And if you said to him, look, if you shoot, you let off your gun, you're gonna shoot in the face, you're gonna live with the idea that you've killed somebody. I don't think either of them wanted that outcome. But the pressure of that situation is so high and so hot that people aren't making rational decisions. And we're talking about like people are talking about, similar to ice coming to the UK and to me. Look, I actually think people should go and watch the Dave Smith episode on this. He discussed it in the last episode and for me, Dave just like he just gets everything. Well, not everything. I agree with the majority of what he says. I mean we could almost call this show what Dave says. Just go and listen to Dave. But actually he's a guy voted for Trump probably swings a little bit more. Republican is definitely angry with Trump right now. Like, just feels totally let down for giving him his vote. But even he was saying, look, you're sending out these ICE guys into neighborhoods with guns, probably not as trained as police to forcibly remove people. You're going to create a very hot, hostile situation. And, like, how many people are you going to get rid of? Couple hundred thousand at best. Like, is this worth it? Anyway, I interrupted you, though.

[Conor McCormack]

Yeah. They would say, well, the Republicans would say, yes. And if they can't, then this is just another thing you cannot do.

[Peter McCormack]

Change your mind.

[Conor McCormack]

No, no. You just know. As in, this is just another thing you cannot do whilst governing. So I don't mind the idea of it, but what I would say is when this happened, there was zero middle ground. There was zero room for middle ground. The discourse was, either he's evil for shooting her or she's just crazy, stupid, Libtard.

[Peter McCormack]

Yeah.

[Conor McCormack]

Like, all I think it needed was someone to go, right, don't drive at a guy with a gun, an ICE agent.

[Peter McCormack]

Or drive off.

[Conor McCormack]

No. Or just don't drive at all.

[Peter McCormack]

Yeah.

[Conor McCormack]

And don't shoot her. She's not really going to run you over. There was no need to shoot her.

[Peter McCormack]

I think the other thing is, how many of those videos have you seen on Twitter where it's like somebody being pulled over by the police and they're hostile to the police and it suddenly ends up with them getting shot? I think people should know, just don't with the police. I had it. Were you with me?

[Conor McCormack]

Yeah.

[Peter McCormack]

Do you remember when we were in Yosemite? We were in Yosemite and. Huh? Yeah. You mean your sister there? And we drove. I drove down a road I wasn't meant to drive down and I didn't know down the roads and a cop car pulled up behind us, like, put his sirens on and it came over a loudspeaker, a megaphone. They were like, put your hands on the wheel. I just sat there and it did not move. I waited for them to come over. They explained what I'd done wrong. I was allowed to drive out. But you don't fuck with these people. You don't want to get it wrong. I don't get shot. But yeah, I mean, look, I think on this, what is happening in the UK and what is happening in the US is coming from the same place. It's a collapse of the financial system in that the weight of the debt now is so high that to try and keep that system going is requiring More control and grip over government. We're doing a lot worse here. We're definitely getting very authoritarian here. But I think it's the same thing. Like, I don't even think Trump is the story. It's like I could sit here and rant about Keir Starmer, but he's not the story. Like the story is, is a debt based system which is collapsing and that is punishing all of us and that we are just, we're just not voting our way out of it. I mean, it was really weird. You know what's fascinating this week was that what's been going on with, with the Fed, none of you've seen this. There's a criminal investigation into Jerome Powell for the funding of a, of the refurbishment of the Fed building. I think he spent. God. God. Do you know what the budget is?

[Conor McCormack]

I think you said 1.5 billion.

[Peter McCormack]

No, I think the original budget was 1.7 or 1.8 billion. Now it's gone up to 2.5 billion. And the criminal investigation into Jerome Powell is whether he lied to Congress. I think about this. But by the way, 2.5 billion for a refurb. For a refurb. Have you seen the refurb? Looks insane. Hey, when you're in the business of printing money and you want to refurb your building, maybe you can print some money. But what was really interesting, I mean, I don't think we need to play the Jerome Powell clip. People should watch that because he's basically calling out Trump. Right. What's really interesting is this Scott Bessant video where he says quite a bit.

[Scott Bessant]

Out loud, the Fed began what we call QE or large scale asset purchases. They went in the market, started buying long bonds. And the theory of the case there is you create liquidity. You take safe assets out of the market, long duration safe assets, and then the people who receive that money would buy more risky assets. Ben Bernanke famously said when he was asked, what's the purpose of qe, he told everyone, go buy equities. Well, not everyone could buy equities. So we ended up with this two tier economy where either you were an asset holder or you weren't. And the Fed probably kept or definitely kept QE going for too long. And I called the Fed the engine of inequality. And someone said to me, would you believe that the Fed is responsible for economic equality in the system? And I said, absolutely not. That is not one of their mandates. But they shouldn't be exacerbating it.

[Peter McCormack]

Quite a bit out loud.

[Conor McCormack]

I Mean, it's what Simon Dixon said.

[Peter McCormack]

Yeah.

[Conor McCormack]

So any issue with it is like he said, not everyone can be an asset holder.

[Peter McCormack]

Well, that's. But that's the quite a bit out loud. So, so what he's basically saying is that the, when the economy slows up, it's not politically popular to have a recession. Right. I mean we know this right now is that going into the midterms, Trump wants to do well, he wants the economy flying. So it's not politically popular to have recessions anymore. We don't do that, we've banned recessions. So to avoid it, we have qe. And the thing about QE is it goes back to, it's the sponsoring of this debt based system. And he was telling that when the Fed activates qe, what do rich people do? If we know that QE is coming, what should you do?

[Conor McCormack]

Buy assets.

[Peter McCormack]

Buy assets. You should buy bitcoin, you should buy equities because your money is going to increase in value and now it's going to increase in value nominally, but your purchase power might not be hit the same. But all the people outside of this financial system, all the working class or the middle class people, you've got no money to buy assets. Well, they get screwed by this. This is the extraction of the money upwards. And he's saying the quiet bit out loud. But the weird thing is on this, Conor is like, I mean, I'm no fan of central banks. I think we should have a free market for money. I think having 12 guys in a room deciding policy which impacts millions and tens of millions, even hundreds of millions of people is not a good idea. Because a central bank, its job is to keep the system alive, right? And so to keep a debt based system alive, it needs more and more capital put into it. And so it's functionally designed to extract money upwards. Because when you know how to play the system, you know, when the markets get induced, you know where to put your money. And so like it's a terrible system. But what's really interesting about this, he's saying the quite bit out loud, following on from the Jerome Powell video, calling out Trump, but I don't think he's called, I don't think he's saying the quite bit out loud because the Trump administration is going to come and say, yeah, we're going to stop doing this, we're going to stop all this market manipulation. I think this is actually for a fight over control of the Fed because I think the Trump administration, they want.

[Conor McCormack]

To juice it even more More control.

[Peter McCormack]

More control, yeah. So it's not like, oh, we've got rid of Jerome Powell and it's not like the Trump administration is going to take control of the Fed. They're just going to put in their guy. This is a. This is a. I think the Jerome Powell thing is like a. It's a warning shot for whoever takes over because he's due to step down soon anyway. Is it?

[Conor McCormack]

I always found it weird as well, how quickly the Doge thing kind of just went out the window. They were doing some good and then it kind of just went quiet.

[Peter McCormack]

So, on this podcast, you are definitely hearing me talk about bitcoin a lot. Well, why? We live in a really strange time with governments driving inflation with their reckless spending and endless money printing. There is a way out of this. There is a way to protect your money, and that is by stacking bitcoin. I've made loads of shows about bitcoin. You can go and research this, you can go and read the books, but the truth is, it is the hardest money ever created. If you are interested in protecting your financial future, it's time for you to get on the bitcoin train. I have. I've been stacking bitcoin personally and through my businesses since 2017. It's protected me, it's secured my family's future, and it also strengthens all of my businesses. So if you want to start stacking bitcoin, where do you do it? Well, for me, it's with Gemini. They're a fully licensed, full reserve exchange and custodian. So they give you a secure way for you to buy and own your bitcoin. There's no risks and no funny business. So if you're serious about stacking bitcoin the right way, head over to gemini.com, which is g e m I n I dot com. Yeah, they. It was, but it didn't. It felt like it was only a few billion. I mean, it's a whole different subject. But I mean, if you've seen that stuff where they found like 20. Is it 25% of all federal money is being taken through kind of corrupt mechanisms. I mean, that comes back to that. The larger the surface area of the state, the easier it is to corrupt. That's why you want small government. But it's really interesting because I think this is a war for the Fed. This is, like you said, more control. Right. Trump wants to juice the market even more.

[Conor McCormack]

We basically have lefty right authoritarianism.

[Peter McCormack]

Yeah, that's it.

[Conor McCormack]

That's it.

[Peter McCormack]

But The Fed is meant to be independent, right?

[Conor McCormack]

100%.

[Peter McCormack]

The bank of England's meant to be independent and their job is to control and support the economy. But we know Jerome Power hasn't been doing what Trump wants and so he's stepping down. Well, this is a warning shot to whoever takes over next, by the way. You're going to juice the market how we want, we want, I don't know, 1% interest rates. We want to flood the market with cheap money. Because what happens, Conor, when we flood the market with cheap money, the rich get richer and the poor get poorer. You know, funny thing on this is keep talking about this. I mean it's pretty much what we focus most of the show on, the guests, the PMQs, that this debt based system will only make the rich richer and the poor poorer. We say the mechanics are screwed. It doesn't matter who you vote in, you're not voting yourself out of this. And I just find it, I find it really depressing that there are so many people out there who know how this works. They know the mechanics work, they know that it's going to hollow out society. They know it's making the lives of the poor even harder. No one wants to do anything about it. It's that point. I say to you, I think it's just coward, cowardly behavior because what we are doing collect collectively. I don't want to do this, but we collectively as adults in charge of this system are saying, you, Connor, you're gonna have to work extra hard and have less in the future so I can have more now. That's what we're saying. That's what we're saying. How do you feel about that?

[Conor McCormack]

Fuck you all. I mean, it's what they've always been saying though. Until this stops, it will not. We'll just carry on.

[Peter McCormack]

It's like nobody has a backbone anymore. I'm so dejected by politics. Like I don't vote. I haven't voted in the last three elections and people like, well you didn't vote. So you're one of the reasons Labour gone in. All right, so what? Conservatives would have stayed in power and they would have been in charge of managing the decline. Whoopee. Do I think it's like we have choices, we get to climb whatever, but our choice is we either vote in a party who accelerate the decline or we vote in a party that decelerates the decline. But whatever happens, we get decline.

[Conor McCormack]

Yeah, and we said this in the previous show and I disagreed with you because I said I'D rather a party that accelerates it because I think I've seen more people wake up to the matter.

[Peter McCormack]

You want to burn it down?

[Conor McCormack]

Well, no, I just think it gives the public a better understanding of how this stuff really works. If you have a slower one, it's. It's that slow decline, which is the boiling frog. Harder to see the boiling frog. Harder to keep underwater.

[Peter McCormack]

Boiling frog. It's the boiling frog. It's boiling frog con. Yeah. You're an accelerationist in some ways.

[Conor McCormack]

So we want to keep Kier for now.

[Peter McCormack]

Yeah. But this is like, it comes back to that. There was a time where I thought, ah, like reformer saying some good things. And I think a lot of people are hanging their hat on reform. Yep. They're saying the right things. They're going to come in, they're going to fix this, I guarantee you. I'm really sorry to say this. Reform aren't going to fix this because do you know what it is? I feel like either I'm completely mental or we're on the money, but because you don't see the BBC talking about this, they don't talk about the architecture of the financial system, the debt based system, which is destroying people's lives, which moves money around the world, which picks leaders, which starts wars, which funds political parties to ensure that the asset managers always win.

[Conor McCormack]

They're complicit.

[Peter McCormack]

Are they complicit? Are they stupid?

[Conor McCormack]

They are.

[Peter McCormack]

Do they? Do they? I wondering at the BBC, do they even actually know about the mechanics of this?

[Conor McCormack]

I'm sure they do. And even funded by it.

[Peter McCormack]

You're so right, man. This is why in the comments everyone thinks you're the, you're the based one. I'm your, your father. But no, not enough people are talking like there should be no bigger conversation right now. The conversation shouldn't be, oh, what are reforms policies or what are Greens policies? And watching them debate it out, I know Zach Polanski wants to debate Nigel Farage. It's just theater, it's just a distraction. That's not the conversation we should be having right now. The only conversation we should be having right now is what is the debt? Why does it exist? Where does it come from? Who benefits from it? Who gets destroyed by it? And how the fuck do we stop it? How do we stop it? Because while we're not dealing with that, we are literally, we are voting for one thing and one thing only. Who is going to take over the reins of decline management? And that just means we're going to get more Authoritarianism, because it's going to get harder to keep control of this debt. It's going to be more tax, it's going to be higher inflation, it's going to be more hollowing out of society. I'm sorry, I know I sound depressing, but there is a trajectory here that we have been on for two, three decades and there is not a single party out there offering to solve it because they're not talking about it. That's why I don't vote. Man.

[Conor McCormack]

If Zach Polanski came out tomorrow and was like, the Green Party would stop the money printer. Let's just say it's never going to happen.

[Peter McCormack]

Yeah.

[Conor McCormack]

Would that get your vote?

[Peter McCormack]

Well, I'd have questions. I would say, Zach, I hear you. You're going to stop growing the debt, you're going to stop money creation. So tell me your budget, tell me your budget. How are you going to finance everything you want to do? Tell me your policies, Tell me your budget. Because it will collapse. This is why he doesn't want to talk about. This is why they want to talk about Keynesian economics. Right? I mean, I think. Did Elon come out this week and say Keynes is evil, Keynesian economics is collapsing. So Zach won't talk about this. Zak will not read Hayek and Zach will not read Milton Friedman and he will not read Rothbard because he cannot face the truth of what those books tell you. He will instead read mmt. Stephanie Calton.

[Conor McCormack]

Yeah, we know. If you say that, would it get your vote?

[Peter McCormack]

But then I'd have questions. Sure. Okay.

[Conor McCormack]

How, if it was promising, would it get your vote.

[Peter McCormack]

On its own? No, because I don't believe him. Because how many times has a politician come out and said, this is what we're going to do and they don't do it.

[Conor McCormack]

So what you're saying, so what if conservatives said it, I would believe it more. But still not enough.

[Peter McCormack]

No, perhaps enough.

[Conor McCormack]

Perhaps enough.

[Peter McCormack]

But it's how they say and what they actually say. Like you, I'm not saying because I can't be Prime Minister, I'm not smart enough. But if, if somebody came out saying exactly what I've said, you know, and, and, and it was clearly something they were passionate about and understood. And, and yeah, had the receipts and explained in detail how the debt pay system is destroying our country. It's basically a Malay. If someone came out who was a Malay type character, who clearly is a libertarian, who clearly understands Austrian economics, who clearly understands what's required, has a policy agenda that's clearly been Thought through, I would vote for that. But that isn't Zach Polanski. He cannot be that person. It's impossible for him to be that person because he doesn't believe in it. And if he just suddenly shifts, it's like, how did you go? My question is, how did you go from Keynesian Marxist to Austrian libertarian overnight? I need to know that journey.

[Conor McCormack]

All right, forget that.

[Peter McCormack]

Yeah, well, no, no, but it's a good question.

[Conor McCormack]

No, no, because my real like question is, can any of them say that and get your vote? And then if not, then really what you're saying is democracy doesn't work anymore and you don't believe in democracy, would democracy. Because if none of them can say that to get your vote, then no one's ever going to get your vote.

[Peter McCormack]

If, if we had a Malay style.

[Conor McCormack]

Character, isn't that what Nigel was meant to be?

[Peter McCormack]

No, no, he's. No, Nigel isn't a libertarian Austrian. He's not that at all. He's a conservative. It's very. Look, there is a crossover between conservatives and libertarians. Certainly they agree on certain things, but we need a libertarian Austrian to come out and say, this is how the financial system works. This is how Keynesian economics is going to continue to extract money upwards. This is how debt works. This is how money moves. If we continue on this path, we're going to continue to decay our country. We've tried this now for decades and look where we are.

[Conor McCormack]

I wonder if the problem is actually just the electorate because what you're saying would gain your vote. I could easily make the argument that a Green Keynesian is saying the exact same thing for their vote and the conservatives is saying for their vote. And actually we just have too much of an uneducated population which actually doesn't really understand what they want and what the implications are.

[Peter McCormack]

Yeah, I mean, I think that is entirely true, but it can be done.

[Conor McCormack]

So do we really need to put focus on the public first?

[Peter McCormack]

No, no, no, because the public buys narrative and they just. Look at Argentina, right? Argentina had decades of inflation and hyperinflation and they continue to vote through the choices that sat in front of them. Until Milei came around, he didn't have, I don't think he even had a party. And I think, I'm pretty sure when he won the election he had a minority of seats within Parliament. Someone would have to double check that. But he came out very loud with a diagnosis of what's wrong with the system from a libertarian Austrian point of view. And he sold that to the public to the point where enough people were so fed up with what was happening and were so bought into this new idea and what he was promising that he won election and he got reelected and the results are there. I mean, you can go and find them or we can put them in the show notes or something, but if you go and actually look what's happened in Argentina, things are getting better because he's right. And so the UK needs, like pretty. You know, I'm pretty definite on this. We need a Malay type character that comes through who understands economics, who understands libertarian principles and has the charisma and the media reach. To sell this to enough people, you need enough people to go, I want that.

[Conor McCormack]

I think you need enough time for people to go, I don't want that.

[Peter McCormack]

Sure. And look, I don't think.

[Conor McCormack]

I think the reality of Argentina is it did actually take years and years and years for people to get so angry that they wanted a Malay. And I think we're really only at the start of that in the uk.

[Peter McCormack]

Yeah, it's. It's like it has to get really shit. Yeah, yeah.

[Conor McCormack]

Like people don't want to see what's coming.

[Peter McCormack]

Yeah.

[Conor McCormack]

And it's annoying because I think we may have 10, 15 more years of this until that's the case.

[Peter McCormack]

I. You know what? I sadly think you're right.

[Conor McCormack]

I mean, why are we staying here?

[Peter McCormack]

Yeah, that's a good question. Get asked that a lot. I guess my reasons are saying are different from yours. I mean, you should make your own decision.

[Conor McCormack]

I'm asking you.

[Peter McCormack]

Well, I think, I think I'm right.

[Conor McCormack]

Okay.

[Peter McCormack]

I think Zach Polanski is wrong. I think Kemi Badenok's wrong. I think Keir Starmer's wrong. I think. Who have missed out? Tit Whisperer.

[Conor McCormack]

Nigel.

[Peter McCormack]

Nigel. I think Nigel Farage is wrong. I think they're all wrong because the. Oh, it goes back to like, Bastiat's the Law. So I was in Canada and I, I was at this bar and I started checking, checking to this girl. She was reading a book and I just asked her about the book and she said, it's Bastiat's the Lord, which I've been recommending, I think, Stefan Rivera.

[Conor McCormack]

Nice move.

[Peter McCormack]

Well, you know, and she offered to give me the book and I said, no, I'll order it. I ordered it on Amazon then. But Bastiat was very clear that the government should do one thing and one thing only, which is defend life, liberty and property. Right. And with that, you can pursue happiness. But the minute the estate goes away from defending life, liberty and property and into redistribution that you invert the morality of the state. And honestly, it's so funny. Like all the libertarians and anarchists who were shouting at me for years, I was like, no, no, no, we need government. They're totally right. They've been 100% right the whole time. Government needs to do very, very little. The fairest thing the government can do is as little as possible. They should just defend life, liberty and property. And I know every one of these. Baylock's wrong, Farage is wrong, Tit Whisperer's wrong, Keir Starmer's wrong. They're all wrong. Every one of them is wrong because they are not dealing with the issues of a state that thinks it can redistribute. Malay is. And we need that character here. And if it's somehow Connor, hopefully this show, hopefully one. We're right. I am right, by the way, but hopefully we're right. And we're definitely right this show. There'll be somebody listening, somebody watching. Who is that person who. Who thinks, I've had enough of this? Pete's right, I'm right. I know some people are right. I just need to get out there and get the media exposure and the political party that allows me to push forward this agenda. And maybe it'd be something like, I don't know, advance. Maybe Ben Habib's advance. Maybe someone can sit down with Ben and say, look, you've got a vehicle and I'm the character. Let's go and do it. Maybe it's with, I don't know, Rupert Lowe and Restore. Restore becomes a party and they have that person who's got the charisma and ability. Because I don't think the great thing about this policy agenda is that it's neat. I don't think it's left or right. The left will dislike it more, sure. But pursuit of life, liberty and happiness, I think is. Who can argue against that? Yeah, I don't want. I don't want. I don't want to live. I don't want to be free and I don't want to be happy.

[Conor McCormack]

No one can argue against it, but I don't really think it's in our control.

[Peter McCormack]

Malay did it.

[Conor McCormack]

It's the asset managers.

[Peter McCormack]

Melay did it. You say in the bank, the bank has got to get paid.

[Conor McCormack]

I'm saying, I think if you know you're right, then you should know that also it's not going to change.

[Peter McCormack]

I don't think you've Got a moral.

[Conor McCormack]

Complication here where you need to go, but you don't want to.

[Peter McCormack]

Look, I was thinking about exit this and actually I think I tweeted about it today. I think there's three options. Go to my Twitter. Just, just repeat what I said. Right, here we go. So you got, you got three choices. First one's constitutional reform. That's my, that's what I want. I want constitutional reform. I want restraints on power. I want the government to get out the fucking way of everyone. The second is you just leave the country. And the third one is you exit as much of the system as you can while staying put. And so I want constitutional reform. It's going to be very hard. I'm not sure I'm going to run. I'm not sure I'm the British, Malay. Hopefully one exists. We can just leave the country. And that is a fair option. And if you want to go, you should. You've got your whole life ahead of you. I actually quite like the third option. If the other two don't work for me in that I can exit the system but help other people exit the system. Just say, look, if this battle is unwinnable, if this financial and power behemoth cannot be beaten, these are all your options on the table to survive it as best as possible. Because a lot of people can't leave Kong. And that is put as much money as you can in bitcoin, do as much as you can. A cash based economy and then just focus locally. What can you do in your local community? Don't get your coffee from Starbucks. Go to your local coffee shop. Who faces a lot more pressure. Don't buy everything from Sainsbury's and Tesco. Go to your local farm, do everything you can locally. And then create parallel networks that operate outside of government. And then, I don't know, then just ignore the shit. Just try and be as happy as you can.

[Conor McCormack]

Option three is what you've been doing for the past year.

[Peter McCormack]

Not enough though. I still. Sometimes it's just time and well, no. No option. The reason I haven't done as much as option three is because I haven't considered it. The main option I've done started and you stop. You're talking about local politics has got in the way of things I'm talking.

[Conor McCormack]

About and just general being local.

[Peter McCormack]

Sure.

[Conor McCormack]

And the problem is you've seen everything else around you crumble.

[Peter McCormack]

Sure.

[Conor McCormack]

Never good.

[Peter McCormack]

But I'm not doing two yet. I don't want to leave the country yet. I still got a bit of fighting me, man. Maybe I should run. Maybe I should run for Prime Minister.

[Conor McCormack]

You should.

[Peter McCormack]

What do you think of it? Like, are you thinking of going? Do you want to go?

[Conor McCormack]

I am thinking that. There's not another option. There is no option. One or three, if I'm honest.

[Peter McCormack]

Do we. Do we go now? Do we give it a couple of years?

[Conor McCormack]

That's kind of up to you.

[Peter McCormack]

Hey man, it's up to you. Look, if you want to go, we can do this remotely. Well, look, anyway, I think. I really hope people get this. I really hope people are starting to like it took me a long time, but I've stopped thinking we can vote our way out of it. With the current political parties on offer, none of them are fixing this. None of them are libertarians, none of them are Austrians. It's not going to happen. I hope a Malay style character comes forward and and is able to get the media time, has the charisma and can sell this to the public and just say, look, you can keep voting for the same shit or we can redesign the system. I hope we get that. If not, I think it would be good to give people options to survive the system best possible. And failing that, we get the fuck out of Dodge. Thanks for watching. Love you all. Thank you, Khan. Appreciate you, man. See you all soon.