#164 - Liz Truss - Why It Doesn't Matter Who You Vote For

The Peter McCormack Show

Peter McCormack

Power, Politics, Government, Markets, News, Society & Culture, Technology, Society, Inflation, Finance, Bitcoin, Economics, Money

4.7 • 2.8K Ratings

🗓️ 10 April 2026

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Liz Truss, former Prime Minister of the United Kingdom, joins me to discuss what really happened during her time in office and why she believes the UK is in long-term economic and political decline.

We talk about the limits of political power, the role of institutions like the Bank of England, and why she argues that meaningful change is harder than voters realise. Liz also reflects on why she was removed from office and whether Britain can reverse its current trajectory.

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TIMESTAMPS:

00:00:00 - Who Has Power

00:02:09 - 25 Years Stagnation

00:07:13 - “I Was Vindicated”

00:12:04 - Politicians vs Blob

00:16:52 - Anti-Establishment Movement

00:22:29 - Bank of England Power

00:30:46 - Leadership vs Movement

00:37:20 - How The System Controls

00:46:44 - Who Runs Government

00:54:28 - Reversing The System

01:00:01 - Consequences of Decline

01:04:59 - Debt Crisis Risk

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CONTACT PETE

› Website – http://petermccormack.com

› Feedback – https://www.petermccormack.com/contact

› Email – me@petermccormack.com

› Instagram – /mccormack555

› X/Twitter – https://x.com/petermccormack/

CONNECT WITH LIZ TRUSS

› Website – https://www.cpac.org/int/greatbritain/home

› Twitter – https://x.com/trussliz

Transcript

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0:00.0	We've been trying to understand who really now holds the power between the politicians,
0:05.9	the markets and the blob itself. Based on your experience, where does the power lie?
0:11.5	Where does the power lie? Well, it lies in the blob. There are various sort of coded warnings.
0:19.0	If you speak out of this, this could damage your future career,
0:22.6	or if you say this, or this would not be helpful or blah, blah, blah.
0:26.1	It's a system of keeping people in line.
0:29.5	And when people don't conform, they get ostracized.
0:35.8	And they get cancelled and they get debanked.
0:39.4	This wasn't really policy failure.
0:42.7	It was a combination of institutional sabotage,
0:47.0	the Bank of England announcing the sale of guilt the night before.
0:50.9	Unbeknownst to me, it was a deliberate sabotage on the part of the blob.
0:56.3	If you just stuck it out, what do you think would have happened?
1:00.7	Well, I didn't not stick it out. I got a gun put to my head.
1:06.2	If you can't criticise an independent institution. What is the point of politics?
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1:37.6	Liz, hi. Hi, Peter. How are you? I'm very well. How are you? I'm good. So, this is the third time
1:43.3	we've met. I want to cover some
1:45.2	stuff we've covered before. But at the moment, I'm observing across both here in the UK and
	...

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