Episodes

  • Is This World War III?

    Is This World War III?
    Oct 7 2026
    Find us at www.crisisinvesting.com After a brief hiatus, Doug and Matt discuss Trump's escalating rhetoric about Iran potentially nuking U.S. cities and argue the U.S. bears historical responsibility for the conflict, citing oil interests, the CIA-backed coup against Mossadegh, the Shah, and the 1979–1980 embassy crisis. Doug says Trump's actions have worsened the situation, advocates a public apology and possible indemnity to de-escalate, and predicts Trump will not complete his term due to impeachment, the 25th Amendment, assassination, or broader instability. They debate nuclear delivery realities, warn that antagonizing adversaries invites catastrophe, and frame current conflicts—Middle East shipping chokepoints, Houthi-Saudi fighting, and Russia-Ukraine maritime attacks—as kindling for World War III. They also cover French unrest, demographic and religious shifts, bond-market stress, a potential tech-bubble burst, and conclude by favoring energy and mining stocks. 00:00 Back From Hiatus 00:28 Trump Iran Nukes Talk 03:07 Why Iran Hates US 05:45 Apology Not Escalation 07:55 Trump Term Prediction 09:43 Nuclear Delivery Reality 14:33 World War Three Path 15:12 Saudi Yemen Flashpoint 20:15 Chokepoints And Shipping 26:05 Empire Bases Vulnerable 27:52 Elections And Dissidents 30:36 Islam And Instability 31:52 France Protests Breakdown 36:46 Bond Market To Collapse 39:43 Fourth Turning Theory 41:22 Worst President Forecast 43:05 Wrap Up And Investing
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    44 mins
  • Kunstler: Half the Country Is Literally Insane

    Kunstler: Half the Country Is Literally Insane
    Oct 14 2026

    Novelist and essayist James Howard Kunstler (The Long Emergency, the World Made by Hand series) joins Doug Casey and Matt Smith. Kunstler expects prosecutions after the midterms, starting with John Brennan's grand jury appearance. He also says the US military won't let radicals take the levers of power, and that the country has slid from high trust to no trust. Doug and Kunstler clash over the Iran war. Also: Europe tottering, why US shale is more fragile than it looks, what Kunstler got wrong in The Long Emergency, Israel and Gaza, Ukraine and NATO, and the deep state.

    Kunstler's Substack: https://www.kunstler.com
    Find us at https://crisisinvesting.com
    New Orleans Investment Conference, Oct 28-31: https://neworleansconference.com/casey-2/

    00:00 Welcome James Howard Kunstler
    01:08 Will Anyone Face Justice?
    07:11 Brennan Before A Grand Jury
    13:39 Bondi, Bongino, And Silence
    18:42 Will The Military Step In?
    22:35 Two Flavors Of Authoritarianism
    26:14 Civil War And A Trump Bet
    28:54 Europe Is Tottering
    31:10 Iran, Oil, And Shale
    37:31 Doug Pushes Back On Iran
    41:43 Islam And Europe's Future
    45:39 Invasion, Hochul, And New York
    49:55 Where Are The Men Of Quality?
    51:41 Trump The Paradox
    55:44 Markets, Bonds, And The Carry Trade
    1:01:11 Kunstler On Gold
    1:02:58 The Long Emergency, 20 Years On
    1:05:15 From High Trust To No Trust
    1:07:59 Half The Country Is Insane
    1:12:13 A Steak Of Justice
    1:15:13 Is Trump An Authoritarian?
    1:18:37 Israel, Gaza, And Tucker
    1:24:39 The Iran Blockade
    1:26:08 Ukraine And Leaving NATO
    1:28:11 Brennan And The Deep State
    1:31:54 Wrap Up
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    1 hr and 33 mins
  • Oil Is $136 on the Ground. Why Does Wall Street Say $95?

    Oil Is $136 on the Ground. Why Does Wall Street Say $95?
    Oct 16 2026

    Doug Casey and Matt Smith on the gap between the flash and the bang. The war in the Middle East started February 28th, the Strait of Hormuz is choked, and Saudi Arabia and Yemen are now at war, yet most Americans still ask "What war?" Spot oil in the North Sea is $136 while the futures market says somewhere in the $90s. Why are markets disconnected from reality, and how long before the bang? Plus Saudi Arabia and MBS, Egypt, Israel fatigue, Indonesia's gas lines, AI and the new rust belt, the Fort Hood execution, and why Doug says "the shit will really have hit the fan" anytime between tomorrow and a couple of years from now.

    Find us at https://crisisinvesting.comAsk Doug a question: https://crisisinvesting.com (click "Ask Doug")
    See Doug at the New Orleans Investment Conference, Oct 28-31: https://neworleansconference.com/casey-2/

    00:00 Welcome And New Orleans
    02:02 Worse Than The Worst Case
    05:11 $136 Oil On The Ground
    06:52 Markets You Can't Trust
    10:36 Refineries And Fuel Shortages
    13:03 Saudi Arabia Is Next
    17:36 Egypt's Ticking Time Bomb
    20:50 Israel Fatigue
    26:04 Indonesia's Gas Lines
    31:07 We Saw The Flash. Where's The Bang?
    33:33 Rates, Bonds, And A Bifurcated America
    36:09 AI And The New Rust Belt
    39:37 Billionaires And Their Bodyguards
    41:57 Kunstler And Agreeing To Disagree
    44:37 Tankers In The Strait
    47:36 Books: Vikings And The Mandibles
    51:06 Overproduction Of Elites
    52:33 Trump's $5,000 Video
    54:09 The Fort Hood Execution
    1:05:59 Press Secretary And Guilfoyle
    1:09:23 Monica's Podcast
    1:13:21 Wrap Up
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    1 hr and 14 mins
  • Doug Casey: "Trump Will Not Fully Serve Out His Term"

    Doug Casey: "Trump Will Not Fully Serve Out His Term"
    Jul 1 2026
    Doug Casey on oil's new floor, the $1.4 billion grift, and why the next president will make Trump look like a moderate Doug made a call on this week's episode that stopped me mid-conversation: he's betting Trump resigns before 2028. Not impeachment. Not the 25th Amendment. Resignation — dressed up, in Doug's telling, with "some nonsensical reason why. Well, time for Vance to get groomed or whatever." And he didn't stop there: "I'd also make book that Melania is going to divorce him." His suspicion? The Melania coin was part of the alimony settlement. You can dismiss that as Doug being Doug. But listen to the whole episode and the logic hangs together. Here's the chain. The money trail Trump's latest financial disclosure shows $1.4 billion in crypto earnings while in office. The Trump meme coin alone brought in $635 million. (Melania's coin managed about $6 million — which tells you something about the settlement theory.) Doug's read: "Those coins serve absolutely zero useful purpose. It's like giving somebody a book contract or a speaking fee to pass money to them. It's basically a grift." And that money has a job to do. "He'll need that money to mount a proper legal defense after he's out of office." A president facing legal exposure the moment he leaves power, sitting on a billion-plus war chest, in years Doug expects to get "so wild and wooly" that walking away becomes the smart trade — that's the resignation bet. Mussolini economics Doug's larger frame is that the grift isn't a side show — it's the system now. "He really is a modern-day reincarnation of Mussolini. His economic policies are actually identical to those of Benito Mussolini" — the US government buying stakes in companies on the open market, ten of them at this point, with the family positioned ahead of the deals. Take the Kazakhstan tungsten arrangement: Trump's sons get in, then the US government invests heavily. Millions of Americans look at that and call it capitalism. Doug's correction: "It's actually fascism at work, in the classic Mussolini definition of the word." And every time Trump is associated with free markets, he delegitimizes them a little more. What comes next is worse Mamdani won in New York and is now using his star power to elevate three more like-minded candidates into Congress. Doug isn't mincing words: "They're actual real communists that wanna overturn the entire nature of US life." Left and right, Americans are being radicalized against the system itself. Sanders, Obama, "drain the swamp," Mamdani — every one of those was a vote to tear something down. And the anger is monetary at its root, even if almost nobody can name it. M2 money supply surged $247 billion in May — the largest monthly jump since May 2021, when Washington was mailing checks to everyone with a pulse. We now sit $1.3 trillion above the peak of that printing orgy. That's what's laying waste to the average American's standard of living. They can't make ends meet, they can't explain why, and so they reach for "billionaires shouldn't exist." Doug's punchline on where the numbers go from here: "Trump is gonna have to ask what comes beyond a trillion. He doesn't know it, but it's a quadrillion. So that number is the next one we're gonna start hearing about." "It's all like a gambler on tilt at this point." The one trade hiding in all of this Amid the doom, Doug laid out the most concrete investment case he's made in months. The Hormuz standoff isn't getting resolved. Even under the best scenario, flows through the Strait will be controlled by Iran and its allies — restricted flows are the new baseline. Doug's conclusion: "Oil has reached a new base level at, let's say, $65 to $70 at a minimum." Now the anomaly: "During the last real oil bubble, which was in 1980, oil stocks were 20% of the S&P 500. Now they're 4%" — even though oil matters more to the world economy than ever. Some of these companies are yielding up to 10% in current dividends. "They're cheap, they're paying big dividends, nobody wants them, and it's one of the only parts of the financial world that's actually underpriced." Everyone's chasing semiconductors and AI. The energy that powers all of it trades like an afterthought. That's the setup Doug lives for. Also in this episode Trump's feud with Meloni at the G7 (and what the Italian press called him afterward), the $16 million Reflecting Pool fixation, the CPS visit to the Buttigieg household and why child protective agencies should terrify every parent in America, and whether there will even be an election in 2028. Doug: "Who knows what could happen between now and then where we could have a national emergency and the election is put off — and that's really the end of the Republic of America." On Friday: Doug's take on the recent Supreme Court rulings, his thoughts on Peter Thiel's Zero to One, and your questions. Subscribers can submit via the "Ask Doug a Question" link at the top of the Substack. One more ...
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    38 mins
  • "Dangerous and Capable of Almost Any Kind of Stupidity" — Doug Casey on America at 250

    "Dangerous and Capable of Almost Any Kind of Stupidity" — Doug Casey on America at 250
    Jul 3 2026

    Find us at https://www.CrisisInvesting.com

    1976 vs Today: Patriotism, Demographics, Tech, and Subscriber Q&A on Capital Controls, Uranium, Cuba, and Milei

    On the July 3 observed July 4 holiday, Matt and Doug compare America's 1976 Bicentennial mood with today, citing major shifts in demographics, a larger population, widening class divides, the decline of manufacturing, and especially computerization and heavy screen time, alongside reduced patriotism and optimism and more political polarization. They discuss changing race relations and immigration, then pivot to subscriber Q&A about Crisis Investing after Lau Veges' departure, risks of foreign bank accounts amid potential capital controls, gold-backed "goldbacks," whether a US government could compel the Sprott Uranium Trust to sell uranium, possible investment opportunities in a collapsing Cuba, views on the death penalty and abortion, where "renaissance men" are most common, why countries splitting can be beneficial, concerns about Javier Milei's pro-Israel actions and immigration stance, and why they won't track panelists' personal trades from their experts roundtables.

    00:00 1976 vs Today
    02:06 Population and Lifestyle Shifts
    04:09 Middle Class Squeeze
    05:50 Computers Change Everything
    07:20 Immigration and Identity
    11:11 Patriotism and Politics
    14:13 Subscriber Q and A Begins
    17:52 Foreign Accounts and Controls
    20:52 Goldbacks and Gold Money
    24:29 Uranium Trust and State Power
    29:55 Cuba Collapse and Opportunities
    33:02 Cuba Property Outlook
    34:19 Death Penalty Rethink
    36:21 Abortion Family Choice
    40:21 Renaissance Men Today
    44:30 When Countries Split
    47:15 Milei Zionism Concerns
    57:46 Roundtable Stock Followups
    01:01:49 Holiday Signoff
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    1 hr and 3 mins
  • Looming Economic Cataclysm

    Looming Economic Cataclysm
    Jul 8 2026

    Find us at www.crisisinvesting.com

    The hosts discuss Trump saying an Iran MOU is "over" after reported attacks on ships in the Strait of Hormuz area, a major U.S. strike, and Iranian retaliation against U.S. bases in Bahrain and Kuwait, while noting uncertainty about attribution. They argue markets appear complacent despite the potential for a severe real-economy shock from disrupted oil flows, SPR drawdowns, and possible wider chokepoint closures (Hormuz, Bab el-Mandab). The conversation covers Iran's internal backlash after Khamenei's death and the likelihood of escalation, plus spillover risks from Russia-Ukraine strikes on refining assets and Europe's militarization. Doug outlines positioning: long oil via spreads and producers, long grains and gold miners, and considering bearish semiconductor hedges, while warning of bubble valuations and broader systemic financial risks.

    00:00 Iran Deal Collapses

    01:58 Calm Before Oil Shock

    05:06 Oil and Grain Trades

    10:02 Hormuz War Scenarios

    12:32 Iranian Public Backlash

    16:21 Israel and Turkey Risks

    19:56 Financial Domino Effects

    22:13 Europe Russia Escalation

    25:17 Trump Megalomania Talk

    29:21 How to Hedge Now

    30:36 Bubble Shorts Semis SpaceX

    35:18 Market Vibe and Indicators

    40:13 World War III Fears

    42:05 Wrap Up and Next Episode
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    43 mins
  • Trump's Price Tag

    Trump's Price Tag
    Jul 17 2026

    Find us at www.crisisinvesting.com

    Matt and Doug discuss a proposed Trump "$1 gold coin," calling it inappropriate for a sitting president and a sign of "end-stage empire," comparing it to Rome's shift to leaders' faces on coinage. They also cover a plan to sell early access to Trump's Truth Social posts for $100,000/month amid allegations of stock front-running, plus a $500,000-entry private D.C. club tied to Trump's son as legalized influence peddling. The conversation shifts to escalating U.S.-Iran conflict risks, possible boots-on-the-ground odds, Israel's role, parallels to Iraq/WMD claims, and the financial strain of missile-heavy warfare. They argue oil and gold should rise, criticize claims about U.S. gold reserves, note European sentiment turning against the U.S., discuss surveillance "Flock" cameras, disappointment over lack of major prosecutions, market confusion, and potential opportunities in undervalued oil and dividend-paying gold stocks.

    00:00 Trump Coin Controversy 04:28 Truth Social Paywall Scheme

    06:24 Iran War Fears 08:48 Europe Turns On America

    10:11 War Costs And Strategy

    13:41 Gold Audit Doubts

    15:39 Market Bubbles And Korea

    19:28 Inflation Reality Check

    21:19 Surveillance Camera State

    23:03 No Accountability And Elections

    27:13 Influence Peddling Club

    29:14 Ukraine War Oil Fallout

    32:07 Jones Act And Congress

    33:46 Lindsey Graham Legacy

    37:49 Betting On What Happens Next

    40:10 Wrap Up And Sign Off
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    40 mins
  • The Saudi Nuke Deal, Section 219, and the "Golden Age"

    The Saudi Nuke Deal, Section 219, and the "Golden Age"
    Jul 24 2026

    Find us at www.crisisinvesting.com

    Doug and Matt discuss headlines and subscriber questions, starting with a survey claiming 30% of Americans admit to shoplifting and what that says about social trust, morality, and societal decline. They talk about New York's worsening conditions, Trump's announced Saudi nuclear deal and subsequent reversal, and a House-passed NDAA provision (Section 219) calling for deeper US-Israel military/intelligence integration, which they argue signals late-stage empire and foreign influence via AIPAC. They critique Trump's "golden age" claims, note rising yields and escalating Middle East and Ukraine-Russia risks, and comment on Trump family wealth. Q&A topics include Doug's favorite opera (Wagner, Gershwin), sci-fi recommendations (golden-age authors; The Diamond Age), whether digital assets/stablecoins can prolong the debt cycle, a film about vigilantism and mass migration, coal markets and coal's importance, Israel's actions and Gaza/Lebanon, and the possibility of deflation alongside inflation using entropy concepts.

    00:00 Shoplifting Shock Stat

    01:17 Thieves and Morality

    03:58 Luxury Beliefs Debate

    04:57 New York Backslide

    06:53 Saudi Nuclear Deal

    10:05 Israel Military Merger

    14:17 America as an Idea

    14:59 Trump Golden Age Clip

    17:05 War Fears and Disillusion

    19:27 Trump Family Windfall

    20:30 Subscriber Opera Question

    21:16 Wagner and Gershwin

    22:33 Sci Fi Reading Picks

    24:59 Debt Bubble and Stablecoins

    30:19 Vigilante Citizen Talk

    33:15 Coal Markets Explained

    36:33 Israel Influence and Gaza

    40:58 Econophysics and Deflation

    45:19 Weekend Sign Off
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    46 mins