The Peter McCormack Show

Politics feels chaotic for a reason.
In this PMQs episode, we discuss what looks like surface-level madness - government U-turns, free speech crackdowns, global unrest and endless culture wars, to understand the deeper structural problem: a debt-based system that no longer works.
This isn't about left vs right, or one bad leader. It's about incentives, power, and a financial system that concentrates wealth, hollows out society, and forces every government into the same trap: manage decline & tighten control.
From Keir Starmer and Ofcom to central banks, QE, and why elections no longer change outcomes, we discuss how we got here and why everything feels like it's coming apart at once.
SHOW NOTES
› https://substack.com/@petermccormack
› https://www.inolongerconsent.com/
› https://x.com/ConsentEnds
CONTACT PETE
› Website - http://petermccormack.com
› Feedback - https://www.petermccormack.com/contact
› Email - [email protected]
› Instagram - /mccormack555
› X/Twitter - https://x.com/petermccormack/
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Gemini - https://gemini.com/
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TIMESTAMPS:
00:00:00 – QE and Inequality
00:01:12 – Everything Is Breaking
00:03:19 – Starmer's Failure
00:06:14 – Banning Free Speech
00:12:09 – Speed vs Silence
00:15:10 – Losing Control
00:21:06 – Managing Decline
00:37:05 – QE Explained
00:44:04 – No Voting Escape
00:48:30 – The Real Question
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LISTEN / SUBSCRIBE TO THE PODCAST
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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Western politics appears chaotic - broken states, endless debt and permanent crisis. Simon Dixon argues it isn't chaos at all, it's structure.
In this conversation, Simon lays out how money creation, debt, asset management, and access to capital now matter more than elections, ideology, or national borders. Governments, he argues, have become balance sheets and citizens have become collateral.
We talk about how the debt-based system works, why rolling over debt keeps everything alive, how asset managers shape outcomes and why wars, bailouts, inflation, and social breakdown all follow the same incentives. It's about power, money, and who actually makes decisions, and what that means for people trying to live normal lives inside a system that no longer works for them.
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TIMESTAMPS:
00:00:00 – Introduction
00:02:41 – Power Dynamics vs Democracy
00:06:59 – IMF Bailouts and Rolling Debt
00:10:28 – the British Empire Financial Model
00:16:31 – Blackrock, Capital Allocation & Board Control
00:18:43 – Why Ceos Aren't Really in Charge
00:25:00 – Why Revolutions Fail
00:27:56 – Russia, Sovereignty & Oil
00:30:00 – Ukraine, Nato, and Arms Incentives
00:34:10 – Profit, War, and Moral Cost
00:38:34 – Compromise, Power & Politics
00:41:53 – Immigration and Instability
00:45:29 – Surveillance, Data & Control
00:47:07 – Venezuela, Oil & Geopolitics
00:55:25 – When Debt Actually Breaks
01:03:08 – Why Stock Markets Rise as Countries Fail
01:06:30 – the Collapse of Living Standards
01:12:25 – Multipolar World Order
01:16:18 – Bitcoin as Boycott
01:24:00 – Who Survives the System
01:28:51 – Leaving the West vs Staying
01:47:32 – Property, Debt & Freedom
01:49:20 – Advice for People Who Can't Escape
01:57:19 – What Actually Breaks the System
02:02:15 – Final Reflections: Playing the Game Without Losing Yourself
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – [email protected]
› Instagram – /mccormack555
› X/Twitter – https://x.com/petermccormack/
CONNECT WITH SIMON DIXON
› Website – https://www.simondixon.com/
› Twitter – https://x.com/SimonDixonTwitt
SPONSORS
› Ledger - https://www.ledger.com/
› Gemini - https://gemini.com/
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LISTEN / SUBSCRIBE
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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Venezuela didn't fall apart by accident. It's the result of years of socialism, corruption and a regime that couldn't be removed by elections or international pressure.
In this PMQs episode, Peter and Conor talk through what happened with Maduro, why Venezuelans themselves welcomed his removal, and why the usual arguments about regime change and international law don't hold up in the real world.
They also look at the role of oil, US power, proxy conflicts, and why strong states operate by different rules. The episode ends on the hardest question of all: after removing a dictator, what actually comes next?
SHOW NOTES
› https://substack.com/@petermccormack
› https://www.inolongerconsent.com/
› https://x.com/ConsentEnds
CONTACT PETE
› Website - http://petermccormack.com
› Feedback - https://www.petermccormack.com/contact
› Email - [email protected]
› Instagram - /mccormack555
› X/Twitter - https://x.com/petermccormack/
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Gemini - https://gemini.com/
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TIMESTAMPS:
00:00 – Introduction
03:57 – Why Public Opinion Split Instantly
05:00 – Non-interventionism vs Reality
06:52 – Firsthand Experience Inside Venezuela
14:28 – Criticism From the West
17:29 – Oil Wealth, Poverty & State Failure
18:39 – Why Narratives Don't Match Reality
22:37 – Self-determination
24:20 – Does International Law Even Exist?
30:50 – Two Worlds?
33:39 – Tier-one Countries & Real Power
38:33 – the Risk of Unchecked Power
40:54 – "What's Next?"
46:24 – Post-maduro Choices
53:32 – Why Memes Dominate Political Reality
57:16 – Final Thoughts
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LISTEN / SUBSCRIBE TO THE PODCAST
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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Steve Baker is a former Conservative MP who spent years inside the machinery of British politics.
In this interview, he explains why Britain feels broken. We talk about falling living standards, a political system that keeps failing without consequence and why so many voters feel completely powerless to change anything. We also explore how a system can continue to function while delivering worse outcomes year after year.
We also discuss the problem of power without limits, money without restraint and what happens to democracy when nothing fundamental can be challenged and no one is ever held to account.
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TIMESTAMPS:
00:00 – Introduction
01:35 – Why Britain "Isn't Working"
03:17 – How the System Drifted Off the Rails
09:23 – The Real Incentive in Politics
11:10 – "You Get the Government You Deserve"
14:16 – Why Staying Home Changes Nothing
17:37 – Why MPs Fear Accountability
21:21 – The Collapse in Living Standards
23:06 – The Money Problem
26:44 – Bitcoin, Gold & Escaping the System
31:04 – Why Extremism Is Rising
34:51 – Liberty vs Control
40:22 – Britain Is Over-Governed
43:47 – There Is No Painless Way Out
47:51 – Why Politicians Kick the Can
50:08 – How Division Is Manufactured
57:00 – Why Politics Attracts the Wrong People
59:38 – Why Opting Out Fails
1:10:10 – Can the System Be Reset?
1:19:09 – Hope vs Reality
1:22:39 – Final Warnings
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – [email protected]
› Instagram – /mccormack555
› X/Twitter – https://x.com/petermccormack/
CONNECT WITH STEVE BAKER
› Website – https://www.stevebaker.info/
› Twitter – @SteveBakerFRSA
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Gemini - https://gemini.com/
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
LISTEN / SUBSCRIBE
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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Inflation is the thing breaking everything.
Not just prices - but trust, politics, institutions and people's belief that the system even works for them anymore.
There's no sudden collapse coming and no dramatic moment where it all falls apart. It is slower than that and we're living through it right now.
In this episode of PMQs, I talk through how inflation hollowed out living standards, why people are withdrawing from politics altogether, and why what looks like incompetence is often something closer to design.
This isn't left vs right.
It's extraction vs creation.
And once you see it clearly, you can't unsee it.
SHOW NOTES
› https://x.com/Uncommonsince76/status/2001686827292311555
› https://www.inolongerconsent.com/
› https://x.com/ConsentEnds
CONTACT PETE
› Website - http://petermccormack.com
› Feedback - https://www.petermccormack.com/contact
› Email - [email protected]
› Instagram - /mccormack555
› X/Twitter - https://x.com/petermccormack/
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Gemini - https://gemini.com/
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TIMESTAMPS:
00:00 – There Will Be No Dramatic Collapse
01:17 – "This is How the World Ends"
03:45 – Why Decay Feels Normal
07:22 – Inflation as Quiet Theft
12:27 – Who Inflation Really Benefits
18:41 – Withdrawal of Consent
26:10 – Why Politics No Longer Works
34:55 – the Illusion of Reform
42:30 – Creation vs Extraction
51:01 – Why I'm Done Voting
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LISTEN / SUBSCRIBE TO THE PODCAST
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04