Stephen Colbert wears a tinfoil hat in his conspiracy bunker

Daniel Patrick Moynihan once famously said, “Everyone is entitled to his own opinion, but not to his own facts.” But that notion is quaint in 2016, as tailored “facts” have exploded during the election, with alt-right conspiracies about Democratic presidential nominee Hillary Clinton becoming so pervasive, some even made it into Republican nominee Donald Trump’s stump speeches. On Thursday’s episode of The Late Show, host Stephen Colbert took on the conspiracy industry by going over some of the election season’s wildest, including what he called “the craziest rumor of them all.”

“That Donald Trump has a 35 percent chance of being President of the United States,” Colbert said, citing Nate Silver’s 538 website. “That might sound bad — like a one-third chance of him being president — but just think of it this way: it’s just like America is playing Russian roulette with two bullets.”

From there, Colbert introduced a new segment. “Why not believe everything? Well, you can, in my segment, the Late Show presents Stephen Colbert’s Tinfoil Hat,” he said.

What followed was a trip down the conspiracy theory rabbit hole, with Colbert donning a literal tinfoil hat halfway through the bit to keep his brain from being scanned. There weren’t a whole lot of Trump references, however, until the end.

“Would you believe that if you rearrange the letters in Donald Trump you get Tan Dump Lord,” Colbert said, holding up a sign.

Watch below.