In 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 technologic…

It’s hard to find a region facing as much widespread turmoil as the Middle East, both historically and in the modern world. As Geopolitical Futures’ contributing analyst Hilal Khashan predicts, the Middle East will continue to oscillate between established and rising regional powers, with more turbulent times ahead. Hilal joined George Friedman for…

Episode 419 is the fifth episode in the Hundred Year Pivot podcast series. In it, Demetri Kofinas and Grant Williams speak with fmr. Chief Economist for the Office of the Comptroller of the Currency, Dr. Charles Calomiris about America’s economic emergency and what our response to it should be once conditions push the country into a full-blown poli…

The return of Donald Trump to the White House was always going to mean a new showdown between the world’s two largest economies. But, after spiraling tensions and escalating tariffs, last week the US and China announced that they had agreed to roll back recent measures for an initial 90 days. The agreement, which was hammered out over a weekend in …

In Episode 418 of Hidden Forces, Demetri Kofinas sits down with award-winning journalist Karen Hao to discuss Empire of AI — her inside account of how OpenAI evolved from an idealistic, safety-first nonprofit into one of the world’s most valuable private companies in its race to conquer the future. This conversation takes you inside that transforma…

Episode 417 is the fourth episode in the Hundred Year Pivot podcast series. In it, Demetri Kofinas and Grant Williams speak with some of the smartest and most plugged-in people they know to help them navigate the once-in-a-century economic, political, and geopolitical reordering that is currently underway. In this episode Kofinas and Williams speak…

In Episode 416 of Hidden Forces, Demetri Kofinas speaks with Financial Times correspondent Patrick McGee about the integral role Apple played in helping to build China’s advanced manufacturing ecosystem—and the geopolitical interdependencies and national security risks now baked into that relationship. McGee’s book “Apple in China” tells two storie…

Episode 415 is the third episode in the Hundred Year Pivot podcast series. In it, Demetri Kofinas and Grant Williams speak with some of the smartest and most plugged-in people they know to help them navigate the once-in-a-century economic, political, and geopolitical reordering that is currently underway. In this episode Kofinas and Williams speak …

The US-Ukraine minerals deal is done but a Russia-Ukraine peace deal is seemingly out of reach. Now the US is looking to scale back its involvement in mediating an end to the conflict. So what's next for the war in Ukraine? In this episode, GPF Chairman George Friedman considers how the fighting might end, why Vladimir Putin might be running out of…

In Episode 414 of Hidden Forces, Demetri Kofinas speaks with Mark Spindel about monetizing government policies and how an improved understanding of their effect on markets can enhance the value and performance of your portfolio. Demetri and Mark spend the episode's first hour evaluating Trump’s first 100 days in office, assessing his policy objecti…

Like much of the world, North American geopolitics looks very different to six months ago. Tariffs, border issues and suggestions of US troops in Mexico are creating concerns to America’s south. On a recent episode of our ClubGPF's Podcast+, GPF director of analysis Allison Fedirka joined host Christian Smith as we continued our series on Trump’s s…

Episode 413 is the second episode in the Hundred Year Pivot podcast series. In it, Demetri Kofinas and Grant Williams speak with some of the smartest and most plugged-in people they know to help them navigate the once-in-a-century economic, political, and geopolitical reordering that is currently underway. In this episode Kofinas and Williams speak…

In 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 Bl…

The next great power is in the making. Could the United States make room for the likes of China or even Iran as the next superpower? As GPF Chairman George Friedman explained in our recent ClubGPF live discussion, a great power not only has to have a great military, it also has to have a high level of technology and a strong geopolitical position. …

From the U.S., to Europe, China, the Middle East and Russia, relationships are being restructured due to changing geopolitical forces. As GPF Chairman George Friedman explained in our recent ClubGPF live discussion, we are now entering an age where America is taking on a pivotal role, and where economic warfare is the weapon of choice to maintain p…

In 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 lik…

In Episode 410 of Hidden Forces, Demetri Kofinas speaks with investors Paulo Macro and Le Shrub about the consequences of a breakdown in the international capital and trading system—and what this means for markets and investor portfolios. The first hour revisits last year’s discussion on “EM-ification,” the breakdown of the rules-based global order…

It has been a tumultuous couple of weeks since U.S. President Donald Trump announced his sweeping tariffs, pushing the world's two biggest economies, the United States and China, into an ever-escalating trade war. The radical shifts taken by the administration have us at GPF wondering, could this be one of the most consequential months for global e…

Demetri 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. Ove…

In Episode 408 of Hidden Forces, Demetri Kofinas speaks with James van Geelen, the founder of Citrini Research, which specializes in illuminating and demystifying the transformative “megatrends” poised to shape societies, economies, and the market’s distribution of returns for years to come. James and Demetri spend the first hour of their conversat…

In 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…

In Episode 406 of Hidden Forces, Demetri Kofinas speaks with renowned geopolitical analyst and forecaster George Friedman about the pivotal institutional and socioeconomic cycles that shape historical events—and how their convergence is driving the economic and political crises of the 2020s. George and Demetri examine critical turning points in Ame…

In Episode 405 of Hidden Forces, Demetri Kofinas speaks with Rush Doshi, former Deputy Senior Director for China and Taiwan on the National Security Council about the state of the U.S.-China competition, the Trump administration’s China policy, and how the United States can compete successfully with China without risking imperial overreach or bankr…

As we edge over the halfway point of Donald Trump's first 100 days in his second term in office, it's possible we're seeing the start of America’s terminal decline or its regeneration, depending on which side of the line you're on. While the US has been busily announcing the end of the post-World War II global order abroad, at home, the president s…

As the world watches the Transatlantic Alliance continue to strain, America’s allies to the West are wondering what it all means for them. Analysts Victoria Herczegh and Ronan Wordsworth joined host Christian Smith in our recent Podcast+ episode for ClubGPF members to discuss what Trump's second term means for Australia, AUKUS, and the Indo-Pacific…

In 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 fundamen…

After Donald Trump and Volodymyr Zelenskyy’s Oval Office bust up, you might think the war in Ukraine is going rather well for Vladimir Putin. But, according to Geopolitical Futures Chairman George Friedman, the Russian president has already lost the war. Tune in to this new podcast from Geopolitical Futures as Friedman explains Russia’s failure, wh…

In Episode 403 of Hidden Forces, Demetri Kofinas speaks with Russia and U.S. national security experts Andrea Kendall-Taylor and Michael Kofman about the Ukraine peace talks between the United States and Russia, and whether they are part of a larger vision by the Trump administration to reset American grand strategy and the global order. Across the…

One month into Donald Trump’s second term, even those who closely followed his first time in office have struggled to keep up. Foreign policy shifts alone include tariffs, attacks on allies, and a proposed takeover in Gaza. Now, an apparent rapprochement with Russia has the potential to revolutionize US strategy. What is the US trying to achieve in…

In Episode 402 of Hidden Forces, Demetri Kofinas speaks with Mark Holowesko, the founding Partner and Chief Executive Officer of Holowesko Partners—a Bahamian-based, value-oriented investment firm that allocates capital across a wide range of industries, geographies, and market capitalizations. This episode is part of a series in which Demetri inte…

In 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 F…

In Episode 400 of Hidden Forces, Demetri Kofinas speaks with Federico Sturzenegger, the current head of the Ministry of Deregulation and State Transformation under President Javier Milei in Argentina. Demetri asks Sturzenegger about Argentina’s political and economic history in the 20th century, comparing its industrial model, capital markets, and …

In Episode 399 of Hidden Forces, Demetri Kofinas interviews Bowtied Mara about Argentina’s political history, its economy, the local real estate market, the energy sector, and President Javier Milei’s efforts to revive growth, combat inflation, and liberalize the country’s economy. In the first hour, Mara and Demetri explore Argentina’s political h…

Historically, nations did not conduct themselves without aligning with or getting their bearings in relation to a power system that drove the world; an anchor. This was the case, for example, in the world wars of the last century, and the Cold War. But as Chairman George Friedman explained in our recent ClubGPF live discussion, things have changed,…

In Episode 398 of Hidden Forces, Demetri Kofinas speaks with Kennox Strategic Value Fund investment directors Charles Heenan and Geoff Legg about their investment framework and macro worldview. Known for their focus on top-quality, sector-leading companies, Charles and Geoff share valuable insights about what it takes to build and manage a portfoli…

In 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, B…

In 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…

In 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 secon…

Over the past few decades, Poland has seen its economy grow and its military expand. With Donald Trump returning to the White House next month and the former president having made his feelings about European security contributions clear, the Eastern European nation is set to become one of the most important players in Europe. Senior Analyst Antonia…

In Episode 394 of Hidden Forces, Demetri Kofinas speaks with geopolitical analyst and forecaster Kamran Bokhari about the fall of Damascus and the implications of Bashar al-Assad’s ouster in Syria for the balance of power in the Middle East. Kamran last came on the podcast a year ago to discuss the violence ignited by Hamas’ October 7th attacks, th…

In 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 America…

In Episode 392 of Hidden Forces, Demetri Kofinas speaks with author, investor, and financial historian Russell Napier, about how to navigate a seminal transition in the global trade and monetary order. This episode aims to provide you with the tools to understand, value, and manage the assets, exposures, and risks in your portfolios and to capitali…

In 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…

In 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 accou…

Israel’s decimation of Hezbollah’s leadership and war-making capabilities has paved the way for a massive altering of the geopolitical landscape in the Middle East. After decades on the offensive, Iran has suffered a major setback in its strategy for the region. GPF contributor Kamran Bokhari joined host Christian Smith on our recent Podcast+ episo…

In 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 di…

From London to Warsaw, Paris to Kyiv, last week’s election of Donald Trump for a second time in the U.S. has sent European leaders scrambling. With the expectation that Trump will reduce defense support for Ukraine and Europe more generally, tune in to this special podcast from Geopolitical Futures as Chairman and Founder George Friedman explains w…

In 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 …

In 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…

In 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, …