• Drug Cartels & the American State
    Oct 14 2026

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    Illicit drug trafficking has been a major industry since the beginning of the 20th century, and even then the transit of drugs had a long history in geopolitics. (Britain broke open Qing Dynasty China to foreign investment using the opium trade).

    The trade of illicit drugs is a major industry. Today, it’s roughly the size of the global steel industry in terms of revenue. Beyond just its sheer economic weight, it is the ballast of a whole complex of black-market industries. Other industries grow right alongside it: human trafficking, illegal wildlife trafficking, arms trafficking; it requires services like counterfeiting, money laundering, illicit bank transfers. It buoys up countless fake storefronts and industries like cryptocurrency.

    And, not least, it is a nearly endless pit of untraceable, unaccountable money. Several covert operations have occupied the exact same space as these black market industries. Drug trafficking was used to fund anti-Soviet fighters in Afghanistan, to fund the anti-communist Contras in Nicaragua, CIA planes likely transported opium in Laos, and there are countless connections that have been traced between CIA-stay behind networks set up in Europe in case of invasion by the Soviet Union and organized crime.

    Drug trafficking, insofar as it's related to America, is typically depicted as a straightforward issue: drugs flooding into the United States. But ask yourself: where do these cartels put their money? How do they transport their goods? Where do they get their guns?

    The answer, of course, is complicated. Every sale is also a purchase, every purchase is a sale– every exchange goes two ways.

    Photo credit: Atlantic Council (https://www.atlanticcouncil.org/dispatches/decapitation-strikes-are-not-enough-to-take-on-mexicos-cartels-heres-what-else-the-us-should-do/)

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    1 hr and 1 min
  • The U.S. Coup that Ruined Relations with Iran
    Sep 29 2026

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    Nick and Dylan discuss the consequential U.S. plot to overthrow the democratic prime minister of Iran in 1953- background, the consequences, and how it compares to the conflict today. (War with Iran, part 2)

    The American Exchange Blog: https://theamericanexchange.substack.com

    Cover photo: https://www.smithsonianmag.com/smart-news/the-cia-finally-admitted-it-orchestrated-the-iranian-coup-of-1953-179889/

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    1 hr and 10 mins
  • The Japanese Yen Intervention
    Aug 27 2026

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    Will the bond market collapse before America does, or after? Nick and Dylan talk about the historic US-Japan Yen intervention, bond market turbulence, and the future of the U.S. financial system

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    1 hr and 18 mins
  • The National Defense Authorization Act & the Future of American Warfare
    Aug 19 2026

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    Nick and Dylan take a deep dive into the FY2027 NDAA and explore what the future looks like for the U.S. military and its relationships with Europe, Israel, drones, and Artificial Intelligence. Enjoy!

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    1 hr and 30 mins