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Larry C. Johnson is a former CIA officer and intelligence analyst, and former planner and advisor at the US State Department’s Office of Counter Terrorism. As an independent contractor, he has provided training for the US Military’s Special Operations community for 24 years. Since its founding in 1998, Larry has been managing partner of BERG (Business Exposure Reduction Group) Associates LLC, which specializes in investigating money laundering and counterfeit products, as well as providing financial analysis and counter terror strategy.

Connect with Larry Johnson on Substack: https://larrycjohnson.substack.com/ and his blog: https://sonar21.com/

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Ryan McMaken is an economist, author, and Editor-in-Chief at the Mises Institute. Ryan is widely known for his work in the tradition of Austrian Economics, focusing on monetary policy, economic history, and the role of government in markets.

Ryan is the author of Breaking Away: The Case for Secession, Radical Decentralization, and Smaller Polities and Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.

In today’s conversation, we’ll explore his perspective on the current economic landscape, the risks facing global markets, and what history can teach us about where things may be headed next.

Catch up on Ryan’s recent articles here: https://mises.org/profile/ryan-mcmaken and connect on X: https://x.com/ryanmcmaken.

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Ali Alizadeh is a London-based journalist, political analyst, and host of a popular program Jedaal on YouTube.

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Elijah Magnier is a political analyst and a veteran war-zone correspondent with over 35 years of experience covering the Middle East and North Africa. Elijah’s in-depth knowledge of Iran, Iraq, Lebanon, Libya, Sudan and Syria make his writings mandatory reading for those wishing to understand complicated affairs that are routinely misreported in the Western media.
Follow Elijah on X: https://x.com/ejmalrai and check out his recent article on his site: https://ejmagnier.com/

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Peter Schiff is a well-known economist and market analyst, as well as an outspoken critic of central banking policy. He’s the Chief Economist and Global Strategist at Euro Pacific Asset Management. Peter gained widespread attention for predicting the 2008 financial crisis and has since become a leading voice on sound money and the long-term outlook for the U.S. economy.

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Lt Col Daniel Davis is a retired U.S. Army officer with over 2 decades of service, including multiple combat deployments to Iraq and Afghanistan. He gained national attention for speaking out about the realities on the ground during the Afghanistan war—offering a perspective that often stood in stark contrast to the narrative coming from Washington.

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Alex Krainer is the founder of Krainer Analytics and I-System Trend Following. As a commodities expert, Alex has worked as a market analyst, researcher, and hedge fund manager. Alex authored multiple books, including “Mastering Uncertainty in Commodities Trading” and “The Grand Deception.”

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Einar Tangen is a CIGI senior fellow and a widely recognized commentator on global political and economic affairs, with a focus on China’s evolving role in international governance. A former lawyer, entrepreneur and investment banker, he currently resides in Beijing, where he advises on urban planning, economic strategy and cross-border investment. He is the founder of China Cities Bluebook Consulting and a principal at DGI/SMP Design, an international infrastructure and design firm with offices across Asia and Europe.

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“The United States spends more on its military than the next 10 countries combined.”

That sentence should dominate headlines, especially in the midst of the U.S.-Israel war of aggression against Iran. It doesn’t. Instead, it’s treated like background noise—something everyone vaguely knows, but rarely examines. Because once you actually look at the numbers, the conversation becomes uncomfortable. Here’s why.

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Dr. Vladimir Brovkin is a former Professor at Harvard and an author of many books on politics and history. He runs a really great YouTube channel, History and Politics with Dr. Brovkin.

Follow Dr. Vladimir Brovkin’s YouTube channel: @vladimirbrovkin4052
Browse through Dr. Brovkin’s books on politics and history: https://www.barnesandnoble.com/s/Vladimir%20Brovkin

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Dr. Seyed Mohammad Marandi is an academic and Professor at the University of Tehran. He is a geopolitical analyst and an expert on Iran. Dr. Marandi was engaged in the US-Iran nuclear negotiations that led to the signing of the JCPOA back in 2015.

Follow Prof. Marandi on X(Twitter): https://x.com/s_m_marandi and Telegram: https://t.me/s_m_marandi.

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Lieutenant Colonel Karen Kwiatkowski is a retired U.S. Air Force officer whose assignments included duties as a Pentagon desk officer and various roles for the National Security Agency. After retiring, she became a noted critic of the U.S. involvement in Iraq. During her time at the Department of Defense, Karen witnessed firsthand the internal processes that shaped U.S. foreign policy in the lead-up to the Iraq War. These experiences she later brought to light through her writings and public commentary. Since leaving government service, Lieutenant Colonel Karen Kwiatkowski has become a prominent voice on issues of war, intelligence, civil liberties, and government accountability.

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U.S. inflation has surged back into focus, rising to 3.3% in March—its highest level in nearly two years—driven largely by a sharp increase in energy costs and escalating geopolitical tensions tied to the Iran conflict. Gasoline prices jumped nearly 19% year-over-year, while fuel oil soared over 40%, pushing overall energy prices up more than 12%. These increases are rippling across the economy, raising transportation, shipping, and consumer goods costs.

The disruption stems in part from instability in global oil supply routes, particularly the Strait of Hormuz, a critical channel for roughly 20% of the world’s oil. Although a fragile ceasefire is in place, oil prices remain elevated, with U.S. crude still significantly above pre-conflict levels.

The impact is spreading: airline fares have risen sharply, apparel costs are climbing, and businesses are facing higher input prices. Economists warn that further inflationary effects—especially on food—may emerge in the coming months due to delayed pass-through from energy costs.

Meanwhile, real wages have declined, and consumer confidence has dropped to record lows, signaling growing economic strain. The Federal Reserve now faces a difficult choice between controlling inflation and avoiding a broader economic slowdown.

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Dr. Steve Hanke is a prominent American economist, Professor of Economics at Johns Hopkins University, and Distinguished Scholar at the Mises Institute.

Dr. Steve Hanke on X (Twitter): https://x.com/steve_hanke

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The global economy is flashing warning signs of a 1970s-style stagflation—and it’s being driven by war. The International Monetary Fund and World Bank now warn that the Middle East conflict will slow global growth while pushing inflation higher, even in a best-case scenario.

With oil supply shocks cutting availability by 13% and energy prices surging, inflation pressures are intensifying worldwide. Economist Kenneth Rogoff warns interest rates could stay “painfully high,” with the 10-year Treasury yield already climbing.

As geopolitical tensions reshape markets, we’re entering an era of persistent inflation, slower growth, and economic fragmentation.

Is this the start of a long-term stagflation crisis? Watch now to understand what’s coming—and how it could impact your money, markets, and the global economy.

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