Before we dive into today's show, there's a new development that's caught my attention.

China just dumped another $8.2 billion in U.S. Treasury bonds, dropping to third place amongst

foreign holders for the first time since 2008. This isn't merely economic policy. It's a signal

that repeats throughout history. When the Athenian Empire debased its silver when Rome clipped its coins.

When Weimar Germany printed endlessly, the pattern remained consistent.

Foreign powers abandoned the currency first, recognizing mathematical realities before domestic populations.

Today's $38 trillion debt creates the same impossible

arithmetic that destroyed previous monetary systems. The coming battle between Trump and Fed Chairman

Powell represents more than politics. It's about whether America can escape the historical trajectory

of great powers who spent beyond

their means. Our friends at American alternative assets understand these historical parallels.

Their new guide, Fed versus Trump, the coming battle for America's financial future connects

these dots for concerned Americans.

To download your free guide, call 8332 U.S.A. Gold or visit victorlovesgold.com. That's 8332872465 or victorlovesgold.com.

Hello ladies, hello gentlemen.

This is the Victor Davis-Hansson show.

I am Jack Fowler, but you're here to listen to the man, the farmer, back from the hills.

Victor Davis-Hansson, who is the Martin and Ely Anderson Senior Fellow at the Hoover Institution and the Wayne and Marsha Busky Distinguished Fellow in history at Hillsdale College.

And we are recording on Sunday, July 6th. Victor is back in his happy home

in the Central Valley, and he is rip-roaring and ready to take on a few topics. The first one

is that Elon Musk now has made it official. It will be a third party in American politics.

We have Medicaid fraud. We have Trump U UGs, which are refugees from Trump.

...