Topic: Sir Fudge Fountain

The hosts acknowledge major donations from Brian Lawson and Sir Fudge Fountain of Ann Arbor. Sir Fudge Fountain's note critiques the current state of NPR, describing it as a "nostalgia machine" that has become unreasonably politicized and unlistenable, specifically mentioning "A Prairie Home Companion" and "Radio Lab."

The knighting ceremony concludes with Sir Fudge Fountain being elevated to the Baron of Ann Arbor. The hosts perform the traditional ceremony with their "Christmas blades" and offer holiday wishes to the newly appointed members of the No Agenda peerage.