Shows
Hidden ForcesHow to Navigate the New Investment Paradigm | Lawrence McDonaldIn Episode 450 of Hidden Forces, Demetri Kofinas speaks with Lawrence McDonald, the founder of The Bear Traps Report and the author of a recently published book about the risks and investment opportunities present in today's radically reshaped economy titled "How to Listen When Markets Speak." In today's conversation, Demetri and Lawrence discuss how social media and the gamification of investing have amplified behavioral biases and fueled the AI boom, as well as the growth of crypto and other "tertiary" assets. They then zoom out to examine how the macro environment has changed since the Covid 19...
2025-11-2454 minHidden ForcesInvesting in the Chaos: Macro Signals in a Bot-Filled World | Le ShrubIn Episode 427 of Hidden Forces, Demetri Kofinas speaks with Le Shrub, the author of the Shrubstack Substack who in his previous life was part of a famous team known for putting on "The Big Short" during the 2008 Great Financial Crisis. This recording is the result of a phone call Demetri made to Le Shrub to catch up on markets and life after returning from a recent trip to Italy where he spent time with some guests of the podcast discussing the effect that rapid technological changes are having on the evolution of human societies, culture, politics, and...
2025-07-1450 minHidden ForcesThe Party Comes First: Power & Politics in Xi's China | Joseph TorigianIn Episode 423 of Hidden Forces, Demetri Kofinas speaks with Joseph Torigian, an expert on the politics of authoritarian regimes and the Chinese Communist Party, with a particular focus on elite power struggles, civil-military relations, and grand strategy. Torigian is also the author of a widely discussed new book titled "The Party's Interests Come First," a political biography and historical analysis of Xi Zhongxun, the father of Xi Jinping, the leader of China and the head of the Chinese Communist Party. In the first hour, Torigian and Kofinas trace the evolution, internal contradictions, and complex dynamics of political p...
2025-06-2353 minHidden ForcesThe Case for a New U.S. Industrial Policy | Ian FletcherIn Episode 421 of Hidden Forces, Demetri Kofinas speaks with Ian Fletcher, one of America's foremost experts on industrial policy, about the problems with free trade and how to revitalize the U.S. economy. Ian and Demetri spend the first hour of the episode laying the foundation for the argument Fletcher and his co-author, Marc Fasteau, present in their book Industrial Policy for the United States: Winning the Competition for Good Jobs and High-Value Industries. This portion includes a comprehensive critique of free-market economics and a systematic exploration of the tools that can be deployed to build critical...
2025-06-091h 10Hidden ForcesIn The Future China Will Be Dominant & the US Irrelevant | Kyle ChanIn Episode 420 of Hidden Forces, Demetri Kofinas speaks with Kyle Chan—an expert on the Chinese economy and China's industrial policy—about why he believes China is poised to dominate high-end technology and manufacturing, and why factories worldwide will reorganize their supply chains with China at the center, as the world's preeminent technological and economic superpower. Kyle and Demetri spend the first hour dissecting China's industrial policy and dispelling misconceptions about the historical foundations of economic prosperity. Their discussion highlights the reciprocal interactions among the state, financial capitalism, and the market economy—dynamics that have driven the techno...
2025-06-0246 minHidden ForcesWill the U.S. Dollar Survive the Breakdown of the International System? | Paul BlusteinIn Episode 412 of Hidden Forces, Demetri Kofinas speaks with financial journalist and economic historian, Paul Blustein about the U.S. Dollar's historical resiliency in the face of international shocks and crises, and whether Dollar hegemony can survive the breakdown of the international capital and trading system. In the first hour, Kofinas and Blustein trace how the U.S. dollar became the de facto currency for global trade, savings, and investment and what recent policy shifts in Washington—and how they have been perceived abroad—may mean for the future value and status of the Greenback. The...
2025-04-2844 minHidden ForcesThe Economic Fallout from Trump's China Tariffs | Shehzad QaziIn Episode 411 of Hidden Forces, Demetri Kofinas speaks with Shehzad Qazi of China Beige Book about the impact Trump's China tariffs are having on the U.S. and Chinese economies and prospects for a grand bargain. Demetri and Shehzad discuss: The material impact that the trade war has had thus far on both economies The companies and sectors most likely to be impacted, as well as those best positioned to weather the storm The respective performance of each country's currency and stock market Explanations for the punctuated sell-off in...
2025-04-2142 minHidden ForcesThe Hundred Year Pivot | A New Podcast Series by Demetri Kofinas and Grant WilliamsDemetri Kofinas and Grant Williams have teamed up to launch "The One Hundred Year Pivot," a new podcast series that explores the once-in-a-century economic, political, and geopolitical reordering currently underway. These transformational changes demand that we develop new maps and investment frameworks to help us navigate the challenges ahead. Over the course of the series, Grant and Demetri will be speaking with the smartest and most plugged-in people they know to help us chart a path through this gathering storm and position ourselves, our organizations, our families, and our portfolios for the changes to come. ...
2025-04-1439 minHidden ForcesWhy Fiscal Policy Is What Really Matters For Investors | Kevin MuirIn Episode 407 of Hidden Forces, Demetri Kofinas speaks with the Macro Tourist's Kevin Muir about the power of fiscal spending and why fiscal austerity and trade tariffs will lead to lower asset prices, U.S. equity market underperformance, and a falling U.S. dollar. Kevin and Demetri spend the first hour of this podcast discussing the importance of fiscal policy and why government spending has been one of the biggest sources of outperformance for investors in the last five years. They discuss why that's the case, why the effects of fiscal policy continue to be overlooked and...
2025-03-3157 minHidden ForcesLiving In Wonder: Finding Mystery and Meaning in a Secular Age | Rod DreherIn Episode 404 of Hidden Forces, Demetri Kofinas speaks with religious writer Rod Dreher about the crisis of modernity and how to open our eyes to the reality that life and the world are far more mysterious, exciting, and adventurous than we have been led to believe. Dreher and Kofinas spend the first hour of their conversation engaging on fundamental questions about the nature of existence, the knowability of God, the centrality of love, and how to find mystery and meaning in a world that for many has come to feel empty and soulless. In the...
2025-03-1057 minHidden ForcesNavigating the Fourth Turning: Power, Technology, & Moral Decline | Demetri KofinasIn Episode 401 of Hidden Forces, Demetri Kofinas shares his recent appearance on the Grant Williams podcast in which he and Grant discuss how the interplay of political power, technology, and moral decline in society are driving the unraveling of the social order as we pass through the final stages of what Neil Howe has famously described as "The Fourth Turning." Demetri and Grant explore how cyclical historical theories apply to today's turbulent geopolitics, emphasizing the rise of populism, shifting alliances, and eroding trust in institutions. Kofinas highlights the role of media in shaping collective narratives and exacerbating...
2025-02-131h 38Hidden ForcesWhat's Driving the Rise in Long-Term Bond Yields? | Jim BiancoIn Episode 397 of Hidden Forces, Demetri Kofinas speaks with Jim Bianco, President and Macro Strategist at Bianco Research, about the macroeconomic factors driving the recent rise in bond yields and a range of other variables shaping the economies of the U.S., Europe, and China, as well as their impact on investors' portfolios. In the first hour, Bianco and Kofinas analyze the factors behind the surge in long-term interest rates across the developed world. Their discussion covers the Federal Reserve's role, concerns about government debt and deficits, inflation, tariff policies, and economic growth expectations amid these potential...
2025-01-2056 minHidden ForcesExtinction of Experience: Being Human in a Disembodied World | Christine RosenIn Episode 396 of Hidden Forces, Demetri Kofinas speaks with Christine Rosen about her book, "Extinction of Experience: Being Human in a Disembodied World," which explores the cultural and emotional shifts that accompany our embrace of technology and its effects on our experience of life as embodied human beings. Christine is a senior fellow at the American Enterprise Institute, where she focuses on American history, society and culture, and technology and human behavior. Rosen is also a monthly columnist for Commentary Magazine, one of the cohosts of the popular Commentary Podcast. Demetri and Christine spend the...
2025-01-0654 minHidden ForcesInvesting in Argentina, AI, and More in 2025 | Zach Abraham & Chase TaylorIn Episode 395 of Hidden Forces, Demetri Kofinas speaks with Zach Abraham and Chase Taylor about the recent revision in the Fed's summary of economic projections, the investment opportunities in Latin America, the economic effects of the war in Syria, the state of the outgoing Biden administration, and the economic prospects associated with a second and more invigorated Trump administration in 2025. They spend the first hour discussing how Fed policy, demographics, and systematic passive flows continue to drive mean reversion in equity markets and whether the most recent drawdown is yet another opportunity to buy-the-dip or if the...
2024-12-3048 minHidden ForcesWill AI Generate a New Growth Wave of Creative Destruction? | Herman Mark SchwartzIn Episode 393 of Hidden Forces, Demetri Kofinas speaks with Herman Mark Schwartz, a professor in the Politics department of the University of Virginia and the author of three books on economic development, globalization, and the geopolitics of the subprime mortgage crisis. Demetri and Mark discuss an article that he recently co-authored in American Affairs about AI's potential to create a new growth wave of creative destruction that could rival or surpass those of previous innovation cycles, with enormous implications for business, society, and the role of government in the economy. They discuss what these so-called "Schumpeterian" growth...
2024-12-0959 minHidden ForcesThe End of the German Economic Miracle | Wolfgang MünchauIn Episode 391 of Hidden Forces, Demetri Kofinas speaks with Wolfgang Münchau, the director and co-founder of Eurointelligence and the author of a phenomenal new book about post-WWII Germany, the rise and fall of the German economy, its industrial sector, and the end of what he dubs "The German Miracle." Wolfgang Münchau and Demetri spend the first hour of this episode laying the foundation to help listeners understand how Germany became the economic and financial juggernaut that we have known it to be throughout the 1990s and most of the 21st century. They discuss the two pi...
2024-11-2552 minHidden ForcesDe-banking, Censorship, and the Right to Die | Rupa SubramanyaIn Episode 390 of Hidden Forces, Demetri Kofinas speaks with Rupa Subramanya, a journalist at the Free Press, about the de-banking of political dissidents, censorship, and the "right to die." Rupa first came on Demetri's radar for the work she has done writing about what is known as "de-banking:" the closure of people's or organizations' bank accounts by financial institutions that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the organization. They speak extensively about her work in this area, along with her writings about political censorship of conservative voices...
2024-11-1858 minHidden ForcesWhy the Fed Risks Losing Control of the Bond Market | Andy ConstanIn Episode 389 of Hidden Forces, Demetri Kofinas speaks with Andy Constan, the founder and proprietor of Damped Spring Advisors about why he believes the Federal Reserve is at risk of losing the long-end of the bond market, which would lead to a reacceleration of inflation and a hard landing for the economy. Andy and Demetri spend the first hour discussing the subject of a recent letter he published in which he warns that the Federal Reserve, by continuing to lower interest rates and ease monetary policy, could cause a sell-off in long-bonds and a rise in term...
2024-11-1446 minHidden ForcesSemiconductors, Tariffs, & Chip Restrictions Under Trump | Chris MillerIn Episode 388 of Hidden Forces, Demetri Kofinas speaks with semiconductor expert Chris Miller about the state and future of the semiconductor industry in the context of Trump's 2024 U.S. electoral victory, with all its implications for industrial policy, defense spending, tariffs, export controls, trade wars, and much more. This conversation is a deep-dive into the semiconductor supply chain. Kofinas and Miller discuss how money is currently being allocated under the CHIPS and Science Act, the progress being made in domestic U.S. semiconductor fabrication, the challenges facing TSMC's Arizona facility, and the troubles at Intel. ...
2024-11-1149 minHidden ForcesWho Is Going to Win the 2024 U.S. Elections? | Henry OlsenIn Episode 387 of Hidden Forces, Demetri Kofinas speaks with political analyst, author, and host of "Beyond the Polls," Henry Olsen about the state of the 2024 presidential race and what to expect from what could be the most contested election in American history. Henry tells us how each candidate is performing in the key swing states and districts that will determine this election, the frequency of early voting and how it compares to 2020, and shares his views on other predictive metrics that he is paying close attention to. Henry believes that this election could be even...
2024-11-0451 minHidden ForcesTurning Point: A New Security Order in the Middle East? | Joshua LandisIn Episode 386 of Hidden Forces, Demetri Kofinas speaks with the Director of the Center for Middle East Studies at the University of Oklahoma, Joshua Landis about two possible futures for the Middle East: The first will be defined by perpetual conflict, insecurity, and the specter of nuclear proliferation. The second would be defined by a tenuous, albeit hopeful, peace built on compromise and regional security. Professor Landis explains why he believes that this choice is now upon us and that we are at a turning point in the Middle East that provides us with a glimpse into...
2024-10-2856 minHidden ForcesMoving From an Income-Driven to a Credit-Driven Cycle | Bob ElliottIn Episode 384 of Hidden Forces, Demetri Kofinas speaks with Bob Elliott, the co-founder and CEO of Unlimited, a financial services firm that uses machine learning to create products that replicate the index returns of alternative investments. Demetri asked Bob Elliott back on the podcast today to discuss the big macroeconomic story everyone's been talking about, which is the Fed's pivot from fighting inflation to supporting the labor market by cutting interest rates into an apparently strong economy. Bob and Demetri discuss what sorts of consequences this new policy stance may have, especially if consumers and...
2024-10-0755 minHidden ForcesWhy the Fed's Rate Decision Marks a Profound Shift in Monetary Policy | James AitkenIn Episode 383 of Hidden Forces, Demetri Kofinas speaks with James Aitken, a financial markets veteran and advisor to many of the world's most powerful, sophisticated, and successful investors. In the first hour, Demetri and James discuss all that has changed since Aitken was last on the podcast three years ago, which came just as the world had started to re-open from Covid and before the Fed began its very long and determined tightening cycle in the Spring of 2022. They discuss the Fed's recent 50 basis point rate cut, its renewed focus on supporting the labor market...
2024-09-3057 minHidden ForcesThe U.S. Assassination and Terror Threat | Jacob WareIn Episode 382 of Hidden Forces, Demetri Kofinas speaks with Jacob Ware, an expert in domestic and international terrorism, counterterrorism, and assassination, about the growing U.S. assassination and terror threat ahead of the 2024 elections. Jacob and Demetri spend the first hour of their conversation discussing the two recent assassination attempts on former President Donald Trump, what we know about both assassins, the breakdowns in security, and what needs to happen going forward if we want to avoid a potentially successful attempt on the former president's life. Demetri and Jacob also discuss the growing trend in assassination attempts...
2024-09-2349 minHidden ForcesU.S. Government Investigations Into UFOs & UAP | Luis ElizondoIn Episode 380 of Hidden Forces, Demetri Kofinas speaks with Luis Elizondo, the former head of AATIP, the U.S. Defense Department's program for investigating UFOs (now known as unidentified anomalous phenomena or UAP), about why he and so many other scientists, researchers, and people working in military intelligence claim that we are in contact with non-human superintelligence and how the government has been hiding it for nearly a century. Luis Elizondo and Demetri spend the first hour of this episode exploring some of the more fantastical claims stemming from work Luis Elizondo did at AATIP, including declassified...
2024-09-091h 02Hidden ForcesIs Modern Capitalism Broken? | Patrick BoyleIn Episode 377 of Hidden Forces, Demetri Kofinas speaks with Patrick Boyle. Patrick is a founding partner of quantitative hedge fund Palomar Capital, a professor of finance at King's College London, and the host of "Patrick Boyle on Finance." In the first hour, Patrick shares stories from his career in finance, including his time working for Victor Niederhoffer. He and Demetri discuss the market turmoil seen at the beginning of August, including potential causes and implications, and whether the secular economic forces facing Western economies are more likely to be inflationary or deflationary in the years ahead.
2024-08-1954 minHidden ForcesThe 'Deep State' and the War in Ukraine (Part II) | Jeffrey SachsIn Episode 376 of Hidden Forces, Demetri Kofinas speaks with Jeffrey Sachs, a world-renowned economist, bestselling author, and professor at Columbia University, where he was the former director of The Earth Institute. He is also one of the most reputable critics of U.S. foreign policy and the 'Deep State', especially as it pertains to the ongoing war in Ukraine and U.S. relations towards Moscow since the end of the Cold War. Jeffrey Sachs last appeared on Hidden Forces in late June to discuss his criticisms of the U.S. intelligence community and American foreign policy. In...
2024-08-151h 02Hidden ForcesAmerica 2024 & the Battle of the Elites | Nate SilverIn Episode 375 of Hidden Forces, Demetri Kofinas speaks with Nate Silver, political forecaster, poker player, and founder of FiveThirtyEight, about the 2024 U.S. elections and the battle between Silicon Valley elites and the D.C. establishment for control over the country. In the first hour, Demetri asks Nate for his views about the political battle taking place between Silicon Valley elites (VCs and tech founders) and the coastal establishment of D.C. insiders and legacy media journalists. They discuss the internecine political movements of effective altruism and accelerationism within Silicon Valley, the loss of faith in political...
2024-08-1252 minHidden ForcesWhat Does an "America First" Economy Look Like? | Jim GrantIn Episode 373 of Hidden Forces, Demetri Kofinas speaks with Jim Grant, the founder of Grant's Interest Rate Observer, about the "America First" economic agenda and how investors should think about changes to U.S. economic policy when forecasting interest rates, growth, and inflation. Jim Grant compares contemporary American politics to other periods in U.S. history, including electoral comparisons to the 2024 U.S. elections, and describes why the risks associated with two open-ended wars in Eastern Europe and the Middle East and a third potential conflict in the Pacific are not being prudently considered by policymakers and...
2024-07-2959 minHidden ForcesMaking Sense of the Failed Trump AssassinationIn Episode 372 of Hidden Forces, Demetri Kofinas tries to make sense of the recent assassination attempt against Donald Trump by focusing on (1) what we know so far about what actually happened on July 13th, (2) the public's reaction to the events of that day, and (3) the implications of the shooting for the 2024 election and the country's future. This monologue explores (1) deep state conspiracy theories, (2) the role of aesthetics and narrative in rewriting history, (3) dominance hierarchies and capitulation to the authority of the alpha, and (4) alternate reality games. Demetri also touches on how recent events could influence t...
2024-07-1943 minHidden ForcesWhy Democrats Face an Epic Collapse in 2024 | Henry OlsenIn Episode 371 of Hidden Forces, Demetri Kofinas speaks with Henry Olsen, author of "Working Class Republican" and host of "Beyond the Polls" about the unprecedented circumstances surrounding Joe Biden's candidacy for the 2024 Democratic Presidential nomination, who will replace him, and why Donald Trump is well-positioned to win in 2024. Demetri and Henry Olsen examine the unprecedented circumstances surrounding Joe Biden's recent debate performance and the pressure mounting on him to withdraw from the race, including rumors that the U.S. President may in fact have Parkinson's disease or some other type of neurological disorder that disqualifies him from...
2024-07-151h 01Hidden ForcesThe 'Deep State' and the War in Ukraine (Part I) | Jeffrey SachsIn Episode 369 of Hidden Forces, Demetri Kofinas speaks with Jeffrey Sachs, a world-renowned economist, bestselling author, and professor at Columbia University, where he was the former director of The Earth Institute. He is also one of the most reputable critics of U.S. foreign policy and the 'Deep State', especially as it pertains to the ongoing war in Ukraine and U.S. relations towards Moscow since the end of the Cold War. Demetri developed an extensive outline for this conversation, the scope of which vastly exceeded the time allotted for it. Dr. Sachs will be coming back...
2024-07-0149 minHidden ForcesFinding Meaning and Purpose in a Solved World | Nick BostromIn Episode 366 of Hidden Forces, Demetri Kofinas speaks with Nick Bostrom, the founding director of the Future of Humanity Institute and Principal Researcher at the Macrostrategy Research Initiative. Nick Bostrom is also the author of Superintelligence, which was the book that ignited a global conversation about what might happen if AI development goes wrong. In his latest book, Deep Utopia, Bostrom attempts to answer the opposite question – what happens if things go right? At such a point of technological maturity driven by further and further advancements in artificial intelligence, humanity will confront challenges that are philosophical and sp...
2024-06-031h 09Hidden ForcesThe Fight Over Elon Musk's $56 Billion Pay Package | Lawrence FossiIn Episode 365 of Hidden Forces, Demetri Kofinas speaks with Lawrence Fossi; Lawrence worked as a commercial trial attorney until 2011 and as the portfolio manager for a family office until 2020. He has written extensively about the automotive company Tesla at Seeking Alpha under the pseudonym "Montana Skeptic" and now publishes at montanaskeptic.substack.com. It's been three years since we last devoted an episode to the electric car company Telsa and its superstar CEO, Elon Musk. Given the progress that's been made in EVs in the years since, as well as the recent turmoil at Tesla, Demetri thought...
2024-05-2749 minHidden ForcesChina & the American Imperial Economy | Louis-Vincent GaveIn Episode 364 of Hidden Forces, Demetri Kofinas speaks with Gavekal CEO Louis-Vincent Gave about de-dollarization, U.S. re-industrialization, and his case for a Chinese "deflationary boom" and revaluation of the renminbi. In the first hour of their conversation, Demetri asks Louis-Vincent Gave about the most important trends set to define the investment landscape in the years ahead. Gave argues that the U.S. and Europe are set to undergo a long period of structurally high inflation while China's economy is set to experience a "deflationary boom" partly driven by rapid advancements in key industries like semiconductor manufacturing...
2024-05-2041 minHidden ForcesHow to Invest in an Inflationary Recession | Paulo Macro & Le ShrubIn Episode 363 of Hidden Forces, Demetri Kofinas speaks with investors Paulo Macro and Le Shrub about their investment ideas, frameworks, and processes for identifying investment opportunities and managing risk. In the first hour, Demetri asks Paulo and Le Shrub about some of their respective frameworks, including the EM-ification of developed economies, the need to understand the incentives of policymakers, and how these frameworks can help inform your expectations about interest rates, inflation, credit rationing, and much more. In the second hour, Paulo Macro and Le Shrub discuss how the contemporary strain on the international system...
2024-05-1358 minHidden ForcesA World On The Brink of Total War | Dmitri AlperovitchIn Episode 361 of Hidden Forces, Demetri Kofinas speaks with Dmitri Alperovitch, the co-founder and executive chairman of Silverado Policy Accelerator, the co-founder and fmr. CTO of leading cybersecurity company CrowdStrike, and the author of the soon-to-be-released book "World on the Brink: How America Can Beat China in the Race for the Twenty-First Century." Dmitri Alperovitch makes the case that we are already in the midst of a new Cold War with China and that Taiwan is the strategic flashpoint that risks triggering a devastating conflict between two nuclear powers in a way that West Berlin nearly played...
2024-04-2955 minHidden ForcesWhat Comes After the Chinese Economic Miracle? | Anne Stevenson-YangIn Episode 358 of Hidden Forces, Demetri Kofinas speaks with Anne Stevenson-Yang, the founder of J Capital Research, which publishes highly diligenced research reports on over-valued, publicly traded companies, with a particular focus on China. Anne is also the author of several books on China and the Chinese political economy, including "Hello Kitty" and "Wild Ride: A Short History of the Opening and Closing of the Chinese Economy." The first hour of this episode is a conversation about the history of the Chinese economic miracle, as seen through the eyes of someone who experienced those changes firsthand. Anne...
2024-03-2651 minHidden ForcesAre Gold and Bitcoin Signaling the Return of Money Printing? | Michael HowellIn Episode 357 of Hidden Forces, Demetri Kofinas speaks with the CEO of CrossBorder Capital, Michael Howell, about the run-up in gold and bitcoin prices and whether this signals the return of "money printing" driven by overwhelming government debt and deficit payments. Michael Howell has had the most accurate economic and financial forecasts of any analyst Kofinas has spoken with in the last several years. Demetri asked him back on the podcast to help explain why risk assets continue to outperform despite higher interest rates and what new all-time highs in gold and Bitcoin signal about global liquidity...
2024-03-1846 minHidden ForcesWhat Myths Can Teach Us About the AI Arms Race | Joshua SchreiIn Episode 355 of Hidden Forces, Demetri Kofinas speaks with mythologist and storyteller Joshua Schrei about the cultural, social, and political consequences of the rise of Artificial Intelligence. According to Joshua, humanity is entering an era whose only corollary is the stuff of fairy tales and myths. Powers that used to be reserved for magicians and sorcerers are no longer metaphorical, and it's unclear if humanity has the tools and initiatory frameworks to use them responsibly. What's at stake is our civilization, something that was obvious to the creators of the atom bomb but which seems less salient...
2024-03-0457 minHidden ForcesThe Coming Paradigm Shift in the Stock Market | Daniel PerisIn Episode 352 of Hidden Forces, Demetri Kofinas speaks with Daniel Peris. Daniel is a Senior Portfolio Manager at Federated Investors, overseeing the firm's dividend-focused products. He's also the author of four books on investing, including his most recent: "The Ownership Dividend: The Coming Paradigm Shift in the Stock Market." Daniel and Demetri spend the first hour of their conversation discussing the relevant history that explains how the stock market went from a mostly cash-based system where all or almost all companies if they weren't in distress, paid dividends to a public investment landscape driven entirely or almost...
2024-02-1254 minHidden ForcesYou Will Be Assimilated: China's Plan For Global Domination | David GoldmanIn Episode 350 of Hidden Forces, Demetri Kofinas speaks with the Deputy Editor of Asia Times, David Goldman. In his previous life, David served in the Defense Department's Office of Net Assessment for the National Security Council as head of fixed-income research at Bank of America and as head of credit strategy at Credit Suisse. His books include How Civilizations Die and You Will Be Assimilated: China's Plan to Sino-Form the World. David Goldman's perspective is unique among American analysts and reflects the breadth and depth of his knowledge and experience working in national security, international finance, and...
2024-01-2259 minHidden ForcesAI, Transhumanism, and the Future of Humanity | Meghan O'GieblynIn Episode 349 of Hidden Forces, Demetri Kofinas speaks with author and essayist Meghan O'Gieblyn, who writes on matters of philosophy and religion for The New Yorker, Harper's Magazine, The Guardian, and other publications. Meghan O'Gieblyn shares her personal journey growing up in a fundamentalist Christian community. She talks about the disillusionment she experienced upon leaving the faith, her forays into transhumanism and other alternative theories of consciousness, and what she thinks is really going on: what is the nature of reality, is consciousness fundamental to the universe, and what happens to us when we die? ...
2024-01-1553 minHidden ForcesIs the Middle East Headed For Another Major War? | Kamran BokhariIn Episode 348 of Hidden Forces, Demetri Kofinas speaks with Kamran Bokhari. Kamran is the Senior Director of the Eurasian Security & Prosperity Portfolio at the New Lines Institute for Strategy & Policy. He has served at the U.S. State Department and as a Senior Consultant with the World Bank. Kamran came on the podcast three months ago to discuss the violence ignited by Hamas' October 7th attacks against Israel and the nature and scope of Iran's involvement. Demetri asked him back on to re-examine how the war in Gaza is going and whether he still thinks that we...
2024-01-0854 minHidden ForcesPublic Interest Politics & the Human Spirit | Marianne WilliamsonIn Episode 347 of Hidden Forces, Demetri Kofinas speaks with Marianne Williamson. Marianne is a bestselling author, political activist, and spiritual leader who is currently running for the Democratic presidential nomination in the 2024 primaries. Marianne shares stories from her childhood in the 1960s and the journey that led her to become one of America's most recognizable spiritual teachers by the early 1990s. She explains her decision to enter politics, first as a candidate for Congress in 2014 and now in her run for the Democratic presidential nomination. Demetri and Marianne discuss her views about the absence of...
2024-01-041h 00Hidden ForcesRise and Fall of the Neoliberal Order | Gary GerstleIn Episode 346 of Hidden Forces, Demetri Kofinas speaks with Professor of American History at the University of Cambridge, Gary Gerstle. Dr. Gerstle is the author and editor of more than ten books, including the "Rise and Fall of the New Deal Order," and his most recent, "The Rise and Fall of the Neoliberal Order," which was chosen as a Best Book of 2022 by the Financial Times and Prospect Magazine. Gerstle and Kofinas spend the first hour of their conversation discussing the last one hundred years of American history, which spans two political orders—that of the New De...
2024-01-0157 minHidden ForcesAre We in a New Crypto Bull Market? | Framework VenturesIn Episode 345 of Hidden Forces, Demetri Kofinas speaks with Vance Spencer and Michael Anderson about whether we are in a new crypto bull market. Mike and Vance are the founders of Framework Ventures, one of the largest venture capital firms in crypto. They have been on the podcast several times before to discuss their investment outlook for crypto, particularly decentralized finance and blockchain-based gaming. You can easily find those previous appearances in the related tab on this week's episode page. In this end-of-year episode, Demetri asks the Framework team about their 2024 crypto investment outlook and...
2023-12-2658 minHidden ForcesHow Can We Make Sense of the UAP Conspiracy? | Diana PasulkaIn Episode 343 of Hidden Forces, Demetri Kofinas speaks with Diana Pasulka, a professor of religious studies who writes and teaches about the history of the Catholic tradition and new religious movements. Her work in this field has led her to study UFOs, or what we now call Unidentified Anomalous Phenomena (UAP), about which she has written two books: American Cosmic and Encounters, both of which form the basis for much of this conversation. In the first hour of their conversation, Pasulka and Kofinas discuss why so many people with reputable track records and prestigious positions in academia...
2023-12-1152 minHidden ForcesWhat Elites Don't Understand About America | Rudy HavensteinIn Episode 342 of Hidden Forces, Demetri Kofinas speaks with Rudy Havenstein, the owner and operator of a satirical Twitter account that regularly mocks Western policymakers and politicians for their endless wars, corporate bailouts, and tone-deaf public statements about the economy, American foreign policy, and the state of American democracy. Demetri asked Rudy on the podcast in order to understand what he feels has gone wrong in America and what it would take for voters like him to feel that the country is moving in the right direction. This conversation is meant to be accessible to anyone, irrespective...
2023-12-0752 minHidden ForcesWho Makes The Rules In The Digital Gilded Age? | Tom WheelerIn Episode 341 of Hidden Forces, Demetri Kofinas speaks with Tom Wheeler, the former Chairman of the Federal Communications Commission (FCC) and the author of the recently published book "Techlash: Who Makes the Rules in the Digital Gilded Age?" Wheeler and Kofinas spend the first hour of their conversation discussing Tom's time leading the FCC, what he learned during his time there about the policy-making process and the challenges of regulating Big Tech, how industrial era regulations and agencies are ill-suited for overseeing today's 21st century digital economy, and what's at stake if we don't get it right.
2023-12-0455 minHidden ForcesReflections on Life, Markets, & Investing | Zach AbrahamIn Episode 340 of Hidden Forces, Demetri Kofinas speaks with Zach Abraham, the Principal and Chief Investment Officer of Bulwark Capital Management and the host of the Know Your Risk Radio Program. Zach and Demetri spend the first hour of their conversation discussing Zach's approach to investing, where he thinks we are in the economic cycle, and why he believes we continue to see a disconnect between underlying economic fundamentals and asset prices. In the second hour, Demetri and Zach reflect on the economic, political, and cultural changes that they've experienced in their lives, how these...
2023-11-2755 minHidden ForcesWhat Happened at OpenAI & Why It Matters | Nathaniel WhittemoreIn Episode 339 of Hidden Forces, Demetri Kofinas speaks with Nathaniel Whittemore, host of the AI Breakdown for a timely conversation about the latest news surrounding the firing of OpenAI's CEO and co-founder Sam Altman. This was recorded on Monday, November 20th as a Live Q&A for members of our Genius community that we opened up to our newsletter subscribers. Nathaniel and Demetri discussed what is known thus far about the reasons behind Sam Altman's firing, why it's being described as a "coup," who the various factions are, and how much of this has to do with...
2023-11-2152 minHidden ForcesLeadership and the Longing to Belong | Jerry ColonnaIn Episode 337 of Hidden Forces, Demetri Kofinas speaks with Jerry Colonna, the co-founder and CEO of the executive coaching and leadership development company Reboot, the host of the Reboot Podcast, and the author of the recently published book "Reunion: Leadership and the Longing to Belong." Demetri got to know Jerry during their first interview together after the publication of Jerry's last book on the subject of leadership and the art of growing up, in which he explained how the lessons of leadership are at their core, lessons in humanity—that the process of becoming a better leader an...
2023-11-1357 minHidden ForcesArtificial Intelligence and the Containment Problem | Mustafa SuleymanIn Episode 336 of Hidden Forces, Demetri Kofinas speaks with Google DeepMind co-founder Mustafa Suleyman about the containment problem and the AI dilemma that he outlines in his book, "The Coming Wave: Technology, Power, and the Twenty-first Century's Greatest Dilemma." Mustafa Suleyman and Demetri discuss the rapid advancement and proliferation of Artificial Intelligence and Synthetic Biology, why this revolution is going to be fundamentally different from past periods of rapid technological change, and what can be done to solve the containment problem and prevent some of the more catastrophic outcomes from occurring, while still reaping the benefits of...
2023-11-0652 minHidden ForcesHow to Think About This Political Moment | Marshall KosloffIn Episode 335 of Hidden Forces, Demetri Kofinas speaks with Marshall Kosloff. Marshall is the host of The Realignment and Arsenal of Democracy podcasts and is a media fellow at Hudson Institute. Marshall and Demetri spend the first hour applying Marshall's realignment framework to U.S. foreign policy in light of the recent developments in Israel and the potential for a destabilizing regional war with Iran. In the second hour, they discuss Artificial Intelligence (AI) and social media regulation, the 2024 election, and the risk that we may be sleepwalking into a new world war that would devastate the...
2023-11-0256 minHidden ForcesHow America Broke Its War Machine | Michael BrenesIn Episode 333 of Hidden Forces, Demetri Kofinas speaks with Michael Brenes, the Director of the Brady-Johnson Program in Grand Strategy at Yale University who recently authored an article for Foreign Affairs about the U.S. defense industrial base titled "How America Broke Its War Machine." Michael and Demetri discuss the state of the U.S. defense industrial base, American military readiness, and the effect that great-power competition and the expansion and scope of U.S. military involvement in active conflicts overseas could have on the nation's political stability. You can subscribe to our premium content...
2023-10-2355 minHidden ForcesIran's Role in the Hamas Attacks & Implications for the United States | Kamran BokhariIn Episode 332 of Hidden Forces, Demetri Kofinas speaks with geopolitical analyst and forecaster Kamran Bokhari. Kamran is the Senior Director of the Eurasian Security & Prosperity Portfolio at the New Lines Institute for Strategy & Policy and has served at the U.S. State Department and as a Senior Consultant with the World Bank. The subjects of today's conversation concern the escalating violence ignited by last weekend's brutal attacks on Israeli civilians by Hamas, as well as the Israeli Defense Forces' ongoing counteroffensive and bombing of the Gaza Strip. Kamran and Demetri spend the first hour of...
2023-10-161h 50Hidden ForcesWhat the Bond Sell-off Means for Investors | Andy Constan & Mike GreenIn Episode 331 of Hidden Forces, Demetri Kofinas speaks with Andy Constan and Mike Green after a week of turmoil in the bond market that saw a dramatic repricing of long-term government debt, raising debt servicing costs for the US government and sending yields on 10-year Treasury bonds to nearly 5%. Demetri, Andy, and Mike spend the first hour of their conversation trying to make sense of the recent sell-off, as well as what the implications of these higher long-term interest rates will be for the economy and asset markets. The second hour is dedicated to discussing...
2023-10-1052 minHidden ForcesU.S. Semiconductor Export Controls On China Are Failing | Dylan PatelIn Episode 329 of Hidden Forces, Demetri Kofinas speaks with Dylan Patel, a semiconductor and A.I. analyst and the founder of boutique Semiconductor research and consulting firm SemiAnalysis, about how U.S. semiconductor export controls are failing and what the U.S. can do about it. Dylan and Demetri spend the first hour of their conversation going over Huawei's groundbreaking new Kirin 9000s chipset produced by Chinese semiconductor foundry SMIC and what it tells us about the progress that China's domestic chip industry has made in the year since the U.S. Commerce Department implemented a series...
2023-10-0452 minHidden ForcesThe New Geopolitics of Global Finance | Brad SetserIn Episode 328 of Hidden Forces, Demetri Kofinas speaks with Brad Setser, the Whitney Shepardson Senior Fellow at the Council on Foreign Relations where he specializes in global trade and capital flows, financial vulnerability analysis, and sovereign debt restructuring. Brad has also served in multiple Democrat administrations as a senior advisor to the U.S. Trade Representative, as deputy assistant secretary for international economic analysis at the U.S. Treasury Department, and as a director for international economics on the staff of the National Economic and the National Security Councils. Brad and Demetri spend the first hour of...
2023-10-021h 00Hidden ForcesTech, Military, & Economic Drivers of US-China Competition | Diana ChoylevaIn Episode 327 of Hidden Forces, Demetri Kofinas speaks with Diana Choyleva in what was originally recorded as a live Q&A for members of our Genius Community. The subject of the Q&A is the latest state of US-China relations with an emphasis on some of the most recent headlines related Huawei's latest 5G phone with its domestically produced 7nm chip, China's naval exercises in the pacific, as well as some of ongoing headlines around the state of its economy. During the introduction, Demetri makes the case for why China's rise poses a threat to the liberal...
2023-09-251h 01Hidden ForcesCould America Lose a War Against China Over Taiwan? | Alex Velez-GreenIn Episode 326 of Hidden Forces, Demetri Kofinas speaks with Alex Velez-Green, the fmr. National Security Advisor to U.S. Senator Josh Hawley, who helped staff the senator on the Armed Services Committee and advised him on matters related to strengthening deterrence against China, including U.S. conventional and nuclear force structure and posture. Alex and Demetri discuss the perilous situation in which the U.S. now finds itself in the Pacific, how it got here, and what is required to ready the U.S. military for a war against China in the next few years, and if...
2023-09-1855 minHidden ForcesDollar Doomerism & Why Things Are Better Than You Think | Michael NicoletosIn Episode 325 of Hidden Forces, Demetri Kofinas speaks with Michael Nicoletos, the founder and CEO of DeFi Advisors, an independent investment advisory firm specializing in macro and digital assets. Michael and Demetri spend the first twenty minutes discussing Michael's biography, including his time living and working in the United States. What that experience taught him about the country's capacity for change and why its embrace of failure is critical to America's continual economic, cultural, and political renewal is also part of that conversation. The rest of the first hour is spent discussing something that Michael...
2023-09-1152 minHidden ForcesPerennials & the Post-Generational Society | Mauro GuillenIn Episode 324 of Hidden Forces, Demetri Kofinas speaks with Mauro Guillen, a Professor of Multinational Management and Vice Dean of the Executive MBA Program at the Wharton School of the University of Pennsylvania. Mauro combines his training as a sociologist and his experience as a business economist to identify and quantify the most promising opportunities at the intersection of demographic, economic, and technological developments. His book "2030" was an instant bestseller and he joins me today to discuss the insights and arguments that he puts forward in his latest book "The Perennials" about the Megatrends creating what he...
2023-08-2145 minHidden ForcesThe Worst (Or Possibly Best) Investment Podcast EVER | Le ShrubIn Episode 322 of Hidden Forces, Demetri Kofinas speaks with someone he has gotten to know mainly by following his anonymous account on Twitter where he goes by the name Shrubbery Capital or Le Shrub, for short. Le Shrub consistently provides some of the most entertaining and clever market commentary you will find anywhere and Demetri could not resist the opportunity to have him on the podcast, especially given the fact that this conversation was conducted in person. The two spend most of the first hour discussing Le Shrub's background, his investment philosophy, and his process...
2023-08-0751 minHidden ForcesHow Confidence Determines the Choices We Make | Peter AtwaterIn Episode 320 of Hidden Forces, Demetri Kofinas speaks with Peter Atwater, a recognized expert on the impact of confidence on individual and group decision-making, which he examines in his book, "The Confidence Map: Charting a Path From Chaos to Clarity." In today's conversation, you are going to learn about the hidden role that confidence plays in the choices we make, and why events that are often described as being unprecedented are more often than not entirely predictable if we know what to look for. In the first hour, Atwater and Kofinas go through the framework...
2023-07-2450 minHidden ForcesYou Will Own Nothing: Your War with a New Financial World Order | Carol RothIn Episode 319 of Hidden Forces, Demetri Kofinas speaks with Carol Roth, the author of "You Will Own Nothing: Your War with a New Financial World Order and How to Fight Back." The argument that Carol makes in the book is that we are on the precipice of a new financial world order, one that will fundamentally change the fortunes of hundreds of millions if not billions of people across the western world. How this new financial world order is being brought about and the role being played by international organizations, governments, and multinational corporations in facilitating it...
2023-07-1356 minHidden ForcesWhite Sun War: The Campaign for Taiwan | General Mick RyanIn Episode 317 of Hidden Forces, Demetri Kofinas speaks with General Mick Ryan. Mick Ryan is an author, strategist, and retired major general who has commanded at multiple levels in the Australian Army and served in Iraq, Afghanistan, and East Timor. After decades of brinkmanship and confrontation, the United States and China finally go to war when China invades the island of Taiwan. This is the premise that General Mick Ryan explores in his latest book "White Sun War: The Campaign for Tawain." In an era when humans no longer just use machines but partner with...
2023-06-2647 minHidden ForcesWhat the Fed's Rate Decision Will Mean for Markets | Andy ConstanIn Episode 316 of Hidden Forces, Demetri Kofinas speaks with Andy Constan about this week's FOMC meeting and what the Federal Reserve rate decision could signal about the direction of interest rates, inflation, and economic growth. Will it be heralded as the long anticipate Fed pivot or seen as yet another head fake on our way toward "higher for longer," serving as a drag on equity valuations and a headwind to economic growth? Because Andy's analysis is largely quantitative and flows based, he looks at not only what policymakers and investors are saying, but also what they're doing...
2023-06-1456 minHidden ForcesWhy You Should Care About Turkey's Elections | Nicholas Danforth & Amberin ZamanIn Episode 315 of Hidden Forces, Demetri Kofinas is joined by Nicholas Danforth and Amberin Zaman to discuss the significance of the recent elections in Turkey for Turkish politics, the country's complex relationship with its neighbors and allies in Europe and the United States, and for the Turkish economy, which has been teetering on the edge of a balance of payments crisis with no easy solution in sight. While much ink has been spilled by Western press outlets covering the recent elections, many of the stories have lacked a larger context for why Turkey's elections matter for people...
2023-06-0552 minHidden ForcesAmerica's New Religions & the Cult of Self-Making | Tara Isabella BurtonIn Episode 314 of Hidden Forces, Demetri Kofinas speaks with novelist, sociologist, and theologian Tara Isabella Burton about America's new religions, the evolution of the self in contemporary culture, and what it all means for the future of Western society. Tara Isabella Burton's writings about religion and culture provide some of the sharpest, most insightful commentary about contemporary life that you will find anywhere. Her two most recent books explore the revival of religious practices and the evolution of what she calls self-making (i.e., the increased focus on oneself and one's own experiences as the focal point...
2023-05-2959 minHidden ForcesWhy Is the Recession Taking So Long to Show Up? | Bob ElliottIn Episode 313 of Hidden Forces, Demetri Kofinas speaks with Bob Elliott, the co-founder and CEO of Unlimited, a financial services firm that uses machine learning to create products that replicate the index returns of alternative investments. Demetri asked Bob onto the podcast to help sort through the noise of this latest financial news cycle as it pertains to the debt ceiling debate, regional bank stocks, the Fed's fight against inflation, and where we find ourselves in the economic cycle. Many have been surprised by how long it's taken for an economic recession to materialize given...
2023-05-181h 00Hidden ForcesOrigins of the Ukraine War & What Comes Next | Serhii PlokhyIn Episode 311 of Hidden Forces, Demetri Kofinas speaks with Serhii Plokhy, the director of the Ukrainian Research Institute at Harvard University and a leading authority on Ukraine, Russia, and Eastern Europe. Plokhii has published extensively on the international history of World War II and the Cold War and he joins Demetri to discuss the subject of his latest book on the Russo-Ukrainian war and the return of history. This is a conversation about national identity, the disintegration of empires, and what will follow from the largest European land war since WWII. How will the Ukraine war's outcome...
2023-05-0846 minHidden Forces"We're Gonna Get Those Bastards!" | Jared DillianIn Episode 310 of Hidden Forces, Demetri Kofinas speaks with writer and author Jared Dillian in what was originally aired as a Live Q&A for members of the Hidden Forces Genius Community. Jared is the editor of The Daily Dirtnap, a daily market newsletter for investment professionals focused on gauging and capitalizing on changes in market sentiment. He's also the author of several successful books including his most recent, "We're Gonna Get Those Bastards," which is about everything that is depraved, especially finance, culture, music, and sex. This conversation ranges from discussions about market psychology, national security...
2023-05-011h 18Hidden ForcesUnderstanding the Hoax of the Century | Jacob SiegelIn Episode 309 of Hidden Forces, Demetri Kofinas speaks with Jacob Siegel, a senior editor at Tablet magazine and the author of a widely shared article about disinformation titled, "A Guide to Understanding the Hoax of the Century." The 'hoax' according to Siegel is the information war itself, which he believes conflates the anti-establishment politics of domestic populists with acts of war by foreign enemies turning the American people into targets of the US government and its intelligence agencies. Demetri and Jacob spend the first hour of their conversation trying to wrap their arms around this...
2023-04-2450 minHidden ForcesDisrupting the Battlefield: How Venture Capital is Changing Modern Warfare | Josh WolfeIn Episode 308 of Hidden Forces, Demetri Kofinas speaks with Josh Wolfe, co-founder and managing partner at Lux Capital about the state of venture investing and how venture capital is disrupting the battlefield and changing the nature of warfare. Josh and Demetri spend the first hour of their conversation discussing the rise of narrative warfare and how social media, synthetic media, and historically high levels of public distrust in government and mainstream media institutions have made the problem worse. They discuss potential solutions to this problem and what individuals can do to become more discerning consumers of information...
2023-04-1755 minHidden ForcesHow to Think About the Current Moment in A.I. | John BorthwickIn Episode 307 of Hidden Forces, Demetri Kofinas speaks with the founder and CEO of Betaworks, John Borthwick about the current moment in artificial intelligence. In John's first appearance on the podcast in 2017, Demetri and he spoke about the challenges and opportunities present in the field of A.I. and how we could progress technologically into an immersive future of superintelligence and simulation without losing touch with our humanity. The incredibly rapid adoption of ChatGPT has caused both Demetri and John to revisit these questions and whether that immersive future that they spoke about then has finally arrived. ...
2023-04-1058 minHidden ForcesEngineering Society and the Human Experience | Michael SacasasIn Episode 306 of Hidden Forces, Demetri Kofinas speaks with Michael Sacasas. Michael is the executive director of the Christian Study Center in Gainesville Florida and the author of The Convivial Society, a widely read newsletter about technology, culture, and the moral life. Demetri and Michael discuss how we are engineering society and the human experience in ways that could have irreversible effects on humanity's future. Many of you may be wondering if this conversation is about A.I. Not necessarily. Advancements in artificial intelligence may very well prove to be the catalysts, but if so then A...
2023-04-061h 25Hidden ForcesThe Threats to US Dollar Hegemony | Daniel McDowellIn Episode 305 of Hidden Forces, Demetri Kofinas speaks with Daniel McDowell, the author of "Bucking the Buck," a timely new book that seeks to establish a clear relationship between the heightened use of financial sanctions and the rise of "anti-dollar" policies designed to reduce an economy's reliance on the US currency. Demetri and Daniel spend the first hour of their conversation examining the sources of Dollar hegemony, how the system works, and what allows the United States government to exercise power over it and over the individuals, companies, and economies that comprise it. The second hour begins...
2023-03-3044 minHidden ForcesHow to Manage Risk in the Coming Recession | David RosenbergIn Episode 303 of Hidden Forces, Demetri Kofinas speaks with economist David Rosenberg. David is the founder and president of Rosenberg Research, an economic and financial market consulting firm that provides advice to thousands of retail and institutional clients across 40 countries. Demetri and David spend the first hour of their conversation discussing Rosenberg's economic philosophy. David also shares lessons from his experience working in the finance industry since the early 1980s and what that experience taught him about markets, investing, and the economic cycle. The second half of their conversation is much more investment focused. Demetri as...
2023-03-2252 minHidden ForcesWhat the Bailout of SVB Means for the Fed's Fight Against Inflation | Steven KellyIn Episode 301 of Hidden Forces, Demetri Kofinas speaks with Steven Kelly about the government's decision to bail out depositors at Silicon Valley Bank and what this decision means for monetary policy and the Federal Reserve's fight against inflation. This conversation was recorded on the morning of Monday, March 13th less than 24hrs after the Federal Reserve, the Treasury Department, and the FDIC came out with a joint statement assuring depositors at Silicon Valley Bank and Signature Bank that their deposits would be fully protected irrespective of FDIC deposit limits. While this stems the immediate fears of a...
2023-03-1333 minHidden ForcesWhat's Happened to Consensus Reality? | Jon AskonasIn Episode 299 of Hidden Forces, Demetri Kofinas speaks with Jon Askonas a professor of politics at the Catholic University of America where he works on the connections between the republican tradition, technology, and national security. Jon is the author of a new series of essays for the New Atlantis titled "Reality: A Postmortem," where he looks at the forces that have conspired to break consensus reality, and what it means for humanity and the world. The last few years in many Western countries have been characterized by a growing sense of bewilderment, anger, and distrust. Distrust in...
2023-03-0651 min
Hidden ForcesThe Rise of the Global Dollar System | Perry MehrlingIn Episode 277 of Hidden Forces (Premium Only), Demetri Kofinas speaks with Perry Mehrling. Dr. Mehrling is Professor of International Political Economy at the Pardee School of Global Studies, Boston University, where he teaches courses on global money. He is perhaps best known for having pioneered the so-called “money view,” an economic framework that attempts to put the real-world practitioners’ view of financial markets into an academic perspective. Mehrling’s most recent book, “Money and Empire,” is in some sense a biography of the US Dollar told through the life and times of the renowned economic historian, Charlie Kindleberger...
2022-10-1702 minHidden ForcesGlobal Macro in an Age of Great Power Conflict | Demetri KofinasIn Episode 262 of Hidden Forces, I (Demetri Kofinas) share an interview I recently gave on "The Breakdown" with Nathaniel Whittemore, but not before delivering an important message, which has to do with a new Hidden Forces community tier that we will be launching. I'm excited to announce that we will be launching a new Hidden Forces community tier where you'll be able to get immediate access to me, my thoughts, special content, etc., along with private events that will include opportunities to ask questions directly to my guests and to me in real-time. We are giving you...
2022-07-2853 minHidden ForcesThe Path Towards Self-Actualization & How to Overcome Your Fears | Demetri KofinasIn Episode 253 of Hidden Forces, I (Demetri Kofinas) share an interview I recently gave on the In-Bloom podcast hosted by Micaela Richmond. This was a pretty emotional conversation, and I don't want to spoil the episode by giving it away, but I do want to say that while the subjects I mostly cover on Hidden Forces are intellectual the things that matter most to me are most definitely not. Every now and then I publish episodes that speak to those things like my episode with Jerry Colona on the hero's journey and the art of growing up or my...
2022-06-131h 13Hidden ForcesThe New Era of Great Power Competition | John Mearsheimer & Stephen WaltIn Episode 248 of Hidden Forces, Demetri Kofinas speaks with professors of international relations John Mearsheimer and Stephen Walt. Professor Mearsheimer is the R. Wendell Harrison Distinguished Service Professor of Political Science at the University of Chicago and the author of multiple books including “The Tragedy of Great Power Politics,” “Why Leaders Lie,” and “The Great Delusion: Liberal Dreams and International Realities.” Professor Walt is the Robert and Renee Belfer Professor of International Affairs at Harvard University's John F. Kennedy School of Government. He is also the author of several books including “Revolution and War,” “Taming American Power: The Global Response to U.S. P...
2022-05-1202 minHidden ForcesThe Information War & Things Worth Fighting For | Demetri KofinasIn Episode 242 of Hidden Forces, Demetri Kofinas shares an appearance he made on "The Realignment" podcast a week before the invasion of Ukraine. Demetri spoke to the seriousness with which he views the information problem and the information war that we're all combatants in today, the move from unipolarity to a world of disorder, as well as the spiritual deadening that he feels we've all been living through. He also discusses the need for both a national purpose and a sense of self that is inclusive, communal, and forgiving of our individual shortcomings—a sense of self that makes space fo...
2022-04-041h 16
Hidden ForcesThe 'Restart of History' & How to Invest in a Broken Economy | Demetri KofinasIn Episode 224 of Hidden Forces, Demetri Kofinas appears as a guest on the Mining Stock Daily, a podcast by Trevor Hall which focuses on the junior mining and mineral exploration sector. Their conversation centers on the macro, big-picture themes of society, polity, economy, and culture that preoccupy most of Demetri's attention, as well as on his own approach to investing. You can find more information about Trevor's podcast at miningstockdaily.com where you can listen to the entire, original episode, which mainly includes stories from Demetri's time working in media and his thoughts about the difference between...
2021-12-2049 min
Hidden ForcesHow the US Navy Creates Prosperity & Why We'll Miss It | Gregg EasterbrookIn Episode 222 of Hidden Forces, Demetri Kofinas speaks with Gregg Easterbrook. Gregg was a staff writer, national correspondent, and contributing editor at The Atlantic and has authored thirteen books about a variety of subjects including climate change, globalization, philosophy, and American football. Demetri and Gregg explore the subject of Easterbrook's latest book, "The Blue Age." They discuss the extraordinary transformation of the international trading order that we've been living through over the last seventy years and the unique role that the US Navy and advancements in naval architecture and marine engineering have played in making all of t...
2021-12-0649 min
Hidden ForcesA Nihilist's Guidebook for the Modern Investor | Demetri KofinasIn Episode 211 of Hidden Forces, Demetri Kofinas shares his recent appearance on "The Empire's New Clothes," a documentary series where host Bradford Pope McArthur examines the cyclical forces that make and break empires and tries to answer the big questions of how we got here as a society and what might be in store for us in the years to come. Topics include global macro, cryptocurrencies, geopolitics, and more. You can access the transcript to this conversation through the Hidden Forces Patreon Page. All subscribers gain access to our premium feed, which can be easily...
2021-09-2351 min
Hidden ForcesKofinas Answers Audience Questions in First-Ever "Ask Me Anything" EpisodeIn Episode 203 of Hidden Forces, Demetri Kofinas answers dozens of audience questions about his process for guest selection, outreach, and preparation, thoughts about certain conspiracies, the business side of podcasting, his experience creating a TV show on RT, and much, much more. All questions were submitted through the Hidden Forces Patreon Page. Premium subscribers gain access to our overtime feed, which can be easily added to your favorite podcast application. If you enjoyed listening to today's episode of Hidden Forces you can help support the show by doing the following: Subscribe on Apple...
2021-08-161h 27
Hidden ForcesCrypto Ethics & How to 'Make Money Great Again' | Hasu & DemetriIn Episode 196 of Hidden Forces, Demetri Kofinas is interviewed at the ETHGlobal HackMoney Summit by crypto researcher and writer Hasu, whose work Demetri has relied to educate himself on some of the most important issues in crypto over the years. In this conversation, Demetri explores many of the same themes of financial nihilism, hyperreality, and transformation that he recently discussed in his appearance on the Grant Williams Podcast, but with a much deeper focus on Bitcoin, Ethereum, DeFi, and the larger crypto ecosystem. This includes a discussion about crypto ethics and moral accountability, particularly among some of...
2021-06-2855 min
Hidden ForcesMission Economy: A Moonshot Guide to Changing Capitalism | Mariana MazzucatoIn Episode 185 of Hidden Forces, Demetri Kofinas speaks with Mariana Mazzucato, a Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). She is the winner of numerous, prestigious international prizes including the 2020 John von Neumann Award, Chairs the World Health Organization's Council on "the Economics of Health for All," and is also the author of three highly-acclaimed books, the latest of which is "Mission Economy: a Moonshot Guide to Changing Capitalism." In it, Mariana argues that if we...
2021-03-2954 min
Hidden ForcesDemetri Kofinas Shares Stories from his Life and Career in Markets and the Media on TC's ChartcastDemetri Kofinas makes a guest appearance on TC's Chartcast, a boutique podcast for short sellers hosted by Tesla Charts and Georgia Orwell. Demetri shares stories from his life and career in markets and the media, including lessons learned from his experience overcoming dementia in his early 30's. TC's Chartcast is available on most major podcast platforms and you can follow TC and Georgia on twitter at @TeslaCharts and @Georgia_Orwell_. If you are interested in learning more about Demetri's podcast, head over to HiddenForces.io and subscribe to our free email list. You can access the overtimes, t...
2020-02-171h 06
Hidden ForcesAsh Carter | Inside the Pentagon: Life at the Center of American Military PowerIn Episode 90 of Hidden Forces, Demetri Kofinas speaks with former United States Defense Secretary Ash Carter. Secretary Ash Carter served as head of the US Defense Department during President Barack Obama's second term in office. Before his time as Secretary of Defense, Ash Carter served in the number two and number three positions at the Pentagon. As you can all imagine, it was a privilege for Demetri to have a cabinet secretary on the podcast, particularly someone with Secretary Carter's breadth of experience and scope of responsibilities. His newly published memoir, "Inside the Five-Sided Box: Lessons from...
2019-06-171h 05
Hidden ForcesElon Musk and the Cult of Tesla: Are We Seeing a Bubble Bursting in Tech? | Mark SpiegelIn Episode 39 of Hidden Forces, Demetri Kofinas speaks with Mark Spiegel about how Elon Musk may very well be the personification of a bubble in tech. When asked to name a hero of the modern age, most people don't have to think long before giving their answer. Elon Musk is the man who sits at the helm of this era's most disruptive industries. Through SpaceX, Musk is democratizing space and leading humanity into an era that's dominated by privately held companies — an era in which anyone can, quite literally, reach for the stars. His Boring company is se...
2018-04-091h 04
Hidden ForcesTesla Bankruptcy: Has the Road to Profitability Closed for Good? | Charley GrantIn Episode 38 of Hidden Forces, Demetri Kofinas speaks with Charley Grant about whether or not Tesla can avoid an inexorable spiral towards bankruptcy. Tesla is a kind of wonderchild. It entered the stage in the summer of 2003 with the aim of accelerating the arrival and adoption of electric vehicles. The company was founded by several Silicon Valley luminaries, most notably Elon Musk. Since its founding more than fifteen years ago, the company has transformed the way the world thinks about energy and electric cars. Despite the fact that electric vehicles have yet to see widespread adoption, they...
2018-04-0245 min
Hidden ForcesChris Burniske | How Do You Value a Cryptocurrency? Cryptoeconomics and How to Build a Financial Model for Valuing CryptoassetsIn Episode 31 of Hidden Forces, host Demetri Kofinas speaks with Chris Burniske about how to value a cryptocurrency. Chris is a co-founder of Placeholder, a New York venture firm that specializes in cryptoassets. Before Placeholder, Chris Burniske pioneered ARK Invest's Next Generation Internet strategy, leading the company to become the first public fund manager to invest in cryptocurrency. He then transitioned to focus exclusively on cryptoassets, paving the way for Wall Street to recognize it as a new asset class. His commentary has been featured on national media outlets, including the Wall Street Journal, the New York Times, Fortune, and...
2018-01-291h 09
Hidden ForcesMance Harmon | the Hashgraph Consensus Algorithm: A Panel Discussion With The Founders Of The Future InternetMembers of the hashgraph consensus algorithm's founding team, including the CEO of Swirlds, Mance Harmon, speak with Demetri Kofinas about the future of the Internet. In this blockbuster event, blockchain developers, entrepreneurs, and fans of Hidden Forces ask questions to the founders of hashgraph about their revolutionary technology. Leemon Baird, Mance Harmon, and the rest of the Swirlds team claim to have built an entirely new distributed ledger technology that is better (orders of magnitude more efficient), faster (300,000+ transactions per second pre-sharding), safer (asynchronous byzantine fault tolerant), and fairer (mathematically proven fairness with consensus time stamping) than the blockchain....
2017-10-231h 22
Hidden ForcesMarc Faber | The Wealth Gap, Populism, and the Prospects for War in AsiaIn this Market Forces segment of Hidden Forces, Demetri Kofinas speaks with the investor, commentator, and editor of the Gloom, Boom, and Doom Report, Marc Faber. Though Dr. Faber has been dubbed "Dr. Doom," by the financial press, he is perhaps most famous for his very accurate timing of the US stock market bottom in March 2009. A veteran of the financial industry, Dr. Faber worked during the 1970's for White Weld & Company Limited in New York City, Zurich, and Hong Kong. He moved to Hong Kong in 1973. He was a managing director at Drexel Burnham Lambert Ltd Hong Kong fr...
2017-04-0153 min