The Covered Call Podcast Podcast

In this episode of The Covered Call, we sit down again with Jayant Bhandari — one of the most provocative and intellectually fearless thinkers we’ve had on the show.In our first conversation, Jayant challenged us to rethink freedom, truth, and the cultural foundations of civilization. Since then, we’ve joined him in Vancouver at his Capitalism & Morality conference — where voices like Rick Rule, Maxime Bernier, Stephan Kinsella, and Amy Wax pushed the boundaries of honest debate.In this new episode, Jayant expands on those ideas — warning that the West is moving toward instability and civil conflict, not because of external enemies, but because of a thousand small compromises eroding trust, discipline, and cultural coherence.We discuss:* Why homogeneity — not diversity — underpins stable, high-trust societies.* How political correctness turned schools into propaganda machines.* Why China’s rise is cultural as much as economic.* What India’s decline reveals about leadership and social philosophy.* And why truth-seeking demands both financial freedom and moral courage.Jayant’s insights are controversial, sharp, and difficult to ignore. Whether you agree or not, this conversation forces you to confront uncomfortable realities about the world we’re living in — and the civilizations we may yet lose.Watch or listen now wherever you get your podcasts.Best,Lovis & JasonPS.: This episode was released with about 2 months of time delay. Since a certain important character is mentioned several times, we thought it prudent to let the heat of the discussion die down. This is self-censorship, make no mistake about it - and we are not proud to do it! But rather than editing it out, we thought this was a way to have our cake and eat it too. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com

Dive into a riveting discussion on the war in Ukraine and the implications of sanctions. Explore China's strategic moves, including its control of rare earths and its impact on global supply chains. Hear about the potential collapse of the European Union and what a multipolar future might look like. Discover how energy could shape international relations and why resilience is key. Finally, get introduced to a cultural initiative designed to reinvigorate classic literature.

In this conversation, Deborah Lehr shares her extensive experience in US-China relations, trade negotiations, and her insights on green finance and biodiversity. She discusses the evolution of the WTO, the geopolitical shifts affecting global power dynamics, and the importance of cultural heritage and environmental preservation. Deborah emphasizes the emerging opportunities in the Middle East and the role of individuals in making a significant impact in global affairs. The discussion highlights the interconnectedness of economic growth, environmental sustainability, and cultural heritage preservation. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com

In this episode of The Covered Call, we sit down with Maxime Bernier — former Canadian cabinet minister, founder of the People’s Party of Canada, and one of the few politicians who’s actually walked away from power to defend principle.Maxime spent over a decade inside Canada’s political machine before saying enough was enough. In this conversation, he breaks down why the West is in decline — not just economically, but morally and philosophically — and why liberty, not bureaucracy, is the only real cure.We talk about:* The coming monetary reset and why gold will reprice the entire system* How mass welfare and mass immigration are eroding the social fabric* Why comfort is killing our freedom* And what it takes to leave behind a life of political privilege to stand for convictionA note about this episode:This isn’t a policy debate — it’s a look at the deeper civilizational struggle between freedom and control, responsibility and dependency. Maxime is banging the drum for mass deportations pretty hard, and this rhetoric rubs us, as the hosts of the show, a bit wrong. We are both guests in the countries we choose to live in, and believe in small, efficient government and cannot earnestly reconcile that a small government would engage in actions such as mass deportations. In our own opinion, a small government would rather address the underlying incentives to curb and reverse the kind of immigration that would bring a society over its “carrying capacity”. Please listen to the end, where Jason and Lovis recap and share more of our personal view on the subject.Stay free,Lovis & Jason This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com

We’re back with one of our favorite guests — Rick Rule — just as gold crosses $4,000 an ounce.Last time Rick joined The Covered Call, Bitcoin had hit $100,000. This time, he’s back to explain why the arithmetic of America no longer adds up - and why that’s great news for people with real skills.Rick argues that what’s coming isn’t an honest default, but a dishonest one - a slow erosion of purchasing power disguised as stability.But instead of despair, he offers a blueprint for thriving in chaos:“People who deliver real utility in a free market will do extraordinarily well.”In this conversation, we cover:* Why inflation isn’t an accident, it’s policy.* How to use volatility and liquidity to your advantage.* Why the next decade will punish the entitled and reward the capable.* Why Rick is “celebrating retirement by starting a bank.”* What true freedom means in an age of dishonest money.Rick’s message is timeless - and timely: crisis is the sorting mechanism that separates the useful from the dependent.If you enjoy it, share it with someone who’s preparing for the next decade rather than hiding from it.See you inside,Jason & Lovis This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com

What does energy have to do with freedom? More than you might think.We sat down with David Fishman, an American who is a longtime China resident, energy consultant, and writer of Crossing the River by Feeling the Stones. David has spent over a decade inside China’s transformation, advising multinationals on nuclear, renewables, and grid economics - while also telling the stories of ordinary people navigating those changes. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com

In this conversation, Lovis and Jason engage with Rahim Taghizadegan, a true Austrian economist, to explore the concept of praxeology, the complexity of human action, and the relevance of Austrian economics in today's society. They discuss the importance of realism in economics, the role of community in learning, and the challenges posed by uncertainty in economic systems. The conversation also touches on the decline of trust in institutions, cultural perspectives on freedom, and the impact of technology on economic change. Throughout, they emphasize the need for resilience, critical thinking, and adaptability in navigating the future of economic systems. In this conversation, the speakers explore the drivers of change in Europe, the complexities of democracy, and the emerging role of Bitcoin as a wealth asset. They discuss the limitations of gold compared to Bitcoin, the future of Bitcoin adoption, and the implications of state involvement in wealth redistribution. The conversation highlights the dynamic nature of political and economic systems, emphasizing the need for adaptability and critical thinking in understanding these changes. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com

We just got back from 12 days on the ground in China—what we’re calling the Middle Kingdom Expedition—and sat down while the jet lag was still fresh to capture our impressions.This wasn’t a sightseeing tour. It was a boots-on-the-ground, trains-and-taxis, cigars-and-coffee kind of trip—ten cities in twelve days—meeting people, building connections, and getting a firsthand feel for life and business in modern China.We went in with plenty of questions and a few preconceived notions. Some were confirmed, many were flipped upside down.From Shenzhen’s whisper-quiet electric streets to unexpected home-cooked dinners with near-strangers, the warmth and openness we encountered caught us off guard—in the best possible way.In this episode, we talk about:* The surprising beauty and style of Chinese cities* Cultural nuances that unlock deeper connections* Why politics rarely came up (and why that matters)* The vanishing expat scene—and the opportunities that might create* Our biggest takeaways for anyone curious about working with China todayWhether you’re China-curious, a fellow freedom seeker, or just here for the travel stories, this one’s packed with moments that made us stop and say, “Wait, this isn’t what I expected.”See you inside,Lovis & Jason This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com

In this conversation, Peter Alexander shares his extensive experience and insights on the complex relationship between the United States and China. He discusses the misconceptions surrounding China, the impact of sanctions, and the need for a more nuanced understanding of China's strategic goals. The dialogue emphasizes the importance of cooperation over competition and explores potential paths for a collaborative future between the two powers.Chapters00:00 The China Conversation Nobody Wants to Have06:02 Understanding the Current US-China Relations11:44 China's Strategic Moves in Technology and Trade16:40 The Underestimation of China's Capabilities23:30 China's Global Image and Soft Power25:00 Understanding China's Export Dynamics30:24 The U.S. Response to China's Economic Strategies35:58 China's Manufacturing Efficiency and Quality Improvements43:55 The Shift in Global Technology and Innovation49:35 Navigating U.S.-China Relations: Cooperation vs. Competition56:59 The Complementary Nature of US-China Relations01:05:26 Understanding China's Capitalism01:13:35 The Chinese Perspective on Global Events01:18:29 Envisioning a Collaborative Future01:23:29 The Path Forward for US-China Relations01:26:25 Overtime This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com

Willem Middelkoop shares his extensive career journey, emphasizing the importance of curiosity, independence, and understanding financial systems. He discusses his various roles, from photojournalism to fund management, and highlights the significance of being adaptable and open to new opportunities. Willem delves into the complexities of the financial system, the current geopolitical landscape, and the future of investments, advocating for a proactive approach to wealth management. He defines freedom not just in financial terms but as a state of being that allows for personal exploration and fulfillment.TakeawaysWillem emphasizes the importance of freedom and independence in his life.Curiosity drives Willem's career choices and investments.He believes in opening multiple doors to opportunities.Understanding money is crucial, as many take it for granted.Willem's journey reflects a balance between risk and reward.He advocates for a proactive approach to investing.The current geopolitical landscape presents both risks and opportunities.Willem defines happiness as a consistent state of being, not just peak moments.He believes the journey of investing is more fulfilling than the destination.Willem's philosophy encourages following one's inner compass. Chapters00:00 Introduction to Willem Middelkoop04:41 Willem's Career Journey and Philosophy12:33 The Importance of Curiosity and Flexibility21:25 Understanding Money and Financial Independence29:14 The Complexity of the Financial System36:39 Traveling and Observing Economic Disparities48:37 Defining Freedom and Independence49:04 Finding Happiness in Simplicity51:01 The Journey vs. The Destination52:14 Understanding Wealth and Financial Freedom54:56 Navigating Global Financial Shifts58:45 Investment Strategies for the Future01:01:19 The Joy of Daily Routines01:05:06 Reflections on Career Choices01:08:17 The Future of Investing and Personal GrowthLinks:Commodity Discovery Fund: https://en.cdfund.com/The Big Reset Book: https://a.co/d/iNEVL3G This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit podcast.thecoveredcallpod.com