It doesn't make any sense as presented, but I can see a way where it COULD make sense. Cut the hose a bit longer than the insert nut, and put a washer(a bit wider than the hose) and nut on the opposite end of where you'll be threading your caster. Thread the caster Through the longer nut AND the washer and nut on the end, then as you tighten it, it pulls the nut on the end tighter, squashing the hose rubber against the wall of the pipe, acting like an expanding insert. It's not a perfect method, but it could work.

@@TacComControl make a video if you do this.

The hose wrapped nut that was made is way shorter than the part inserted into the pipe.. This doesn't make sense

It’s a metaphor for the entire world.

What is that part called that’s inserted?