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Find Tom at www.tomwoods.com

In a wide-ranging discussion, Tom Woods joins Doug Casey and the host to assess current U.S. politics, culture, and economics. Woods reflects on Trump's 2024 win, the apparent retreat and performative nature of "wokery," and a broader sense that public life is "oddly fake," arguing that Trump squandered political capital and abandoned promising ideas like DOGE while ballooning spending, pursuing misguided trade and housing approaches, and attacking right-wing dissenters. They discuss generational divides in information and voting behavior, pessimism about fixing deficits and entitlements, and the likelihood that "reality" will force a fiscal reckoning through unmanageable interest costs or money printing. The conversation also touches on U.S.-Israel influence politics, concerns about deeper military integration, social media's role in mass conformity, the possibility of U.S. fragmentation, and Woods's commitment to keep speaking out and promoting his newsletter and history courses.

00:00 Welcome Tom Woods

00:33 Old Friends on PBS

01:10 Culture Wokery and Faith

04:15 Trump Momentum and Plan B

05:42 Economic Agenda Letdown

06:53 Housing Prices and Mortgages

09:48 Loyalty Tests and Vance

13:47 Israel NDAA and Intelligence

18:19 Censorship and Empire Decline

19:30 Pride Ads and Mass Psychosis

23:01 Social Media Amplifier

25:13 Will America Break Up

30:01 Keep Fighting Anyway

31:43 No Matter Who You Vote

33:03 Owning the McCain Line

34:04 Twitter Algorithms and Links

34:35 Debt Nobody Wants to Fix

39:49 Progress and Modern Comforts

43:00 Phones Amplify Human Nature

44:43 Boomers vs Gen Z Divide

48:19 Self Reliance for Young Men

51:23 Doug Casey Boomer Memories

55:54 Risks Hope and Do What You Can

58:28 Tom Woods Courses and Farewell

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Matt and Doug open with a light discussion about June holidays, local attitudes toward Pride Month in Virginia, and Trump's unusual AI-style memes, then shift into subscriber questions. Doug explains his cautious stance on sizing into cheap junior mining and gold stocks while wanting more cash "dry powder" amid fears of a potential deflationary market collapse that could temporarily drag miners down too. They discuss whether nuclear weapons and modern city-targeting warfare violate the Geneva Conventions, citing WWII bombings, Korea, Iraq infrastructure attacks, and the devastation and contested casualty estimates in Gaza and southern Lebanon. Doug and Matt touch on eVTOL investing as a regulatory-heavy, early-industry space; risks from Japan rate changes, major tech IPOs, index/ETF dynamics, and speculative options; corn vs. soybeans as a fertilizer play; Doug's views on the soul as unprovable but personally plausible; why Eric Sprott's Forbes cover isn't a top signal; Interactive Brokers for Canadian exchanges; and why inheritance often harms children unless values and education are strong.

00:00 June Holiday Banter

01:12 Pride Flags and Virginia

02:08 Trump Meme Calendar

05:08 Gold Stocks and Dry Powder

08:52 Nukes and War Crimes

13:01 Gaza and Lebanon Fallout

15:22 eVTOL Investing Outlook

18:43 Japan Yen Carry and IPO Top

21:16 Corn vs Soybeans Trade

23:18 Do Souls Exist

27:09 Sprott Cover Top Signal

29:47 Broker for Canadian Stocks

30:13 Inheritance and Raising Kids

35:39 Wrap Up and Next Week

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Matt and Doug discuss whether current markets resemble a melt-up fueled by AI enthusiasm, citing massive gains in large-cap tech and AI-related stocks, surging option speculation including same-day expirations, and the growing proliferation of ETFs. They note trillions sitting in money market funds that could re-enter risk assets, but warn rising rates and heavy government/agency-paper exposure could contribute to a bust. They contrast expensive AI leaders with deeply out-of-favor mining, gold, and oil stocks, arguing commodities may be at new equilibrium levels while producers remain cheap, and point to oil's reduced S&P weight versus 1980. They also question the economic purpose of enormous global data-center buildouts for training ever-more-compute-intensive frontier models. A Washington Post story about a Fidelity account "vanishing" underscores digital fragility, prompting advice to save statements and favor physical gold/silver and smaller, more personal banking relationships.

00:00 Market Melt-Up Talk

00:44 NVIDIA Hype Signals

03:27 AI Stocks Mint Fortunes

05:23 Options Casino Era

07:12 Sidelines Cash and Rates

09:25 Bubble Timing and Sentiment

12:05 Mining and Oil Value Plays

15:19 Geopolitics and Oil Outlook

17:35 Data Center Buildout Boom

20:08 Training the AI God

22:12 Fidelity Account Vanishes

23:27 Account Vanishes Digitally

24:55 Own What You Hold

26:17 Save Your Statements

27:24 Escape Big Bank Hell

30:12 Commodities New Equilibrium

31:20 Buying Physical Gold

31:49 Best Coins For Portability

33:37 Inflation And Dollar Decay

35:18 Ferrari EV Mandates

38:20 Old Ferrari Memories

40:28 Travel Plans And RV Life

42:24 Markets Limbo And AI Top

43:10 Wrap Up And Next Episode