Building a New Future Framework

Featuring Dr. Pippa Malmgren, Gordon Dee Smith

Economist and former presidential advisor, Dr. Pippa Malmgren, has the discernible ability to understand the signposts and trends in financial markets that the consensus is missing. In this interview with private intelligence consultant, Gordon “Dee” Smith, Pippa outlines a vision of the future and explains what her perspective means for investments, in the context of recent geopolitical shocks. Filmed on February 16, 2017 in the Cayman Islands.

Published on
7 March, 2017
Topic
Globalization, Technology, US Economy
Duration
72 minutes
Asset class
Cash, Crypto-currencies, Bonds/Rates/Credit
Rating
39

Comments

  • FL

    Flavia L.

    15 3 2018 05:40

    0       0

    Except for the uber analogy, I've loved every second of it. Pippa is brilliant, love her out-of-box thinking.

  • cb

    chris b.

    7 4 2017 00:11

    1       0

    increase your bandwidth please.

  • Sv

    Sid v.

    3 4 2017 21:06

    0       0

    uber is losing money!>

  • RW

    R W.

    3 4 2017 03:34

    2       1

    Converting people from steel workers to "creative industries" "legal" "advertising" and "branding" Sorry, I sort of tuned out after this. I've met Pippa, I think she is good at telling you whats already happened and throwing around some unsubstantiated soundbites, like a manufaturing business borrowing for 1 year at 15% collateralised ???? or Main Street "paying again" for graduates. Really !? I appreciate her credentials and her insider views but I just don't think she lives in the real world and as such is struggling to really comprehend it.

  • g

    george .

    23 3 2017 11:35

    1       0

    what is the name of the robotics company to which you referred? Endella? is it publicly traded?

  • CB

    Cliff B.

    20 3 2017 12:03

    1       0

    Superb, I love the fresh viewpoints on all Pippa M interviews

  • TT

    Timothy T.

    20 3 2017 05:28

    1       0

    Default thru debasement. That is always the low road and the one that politicians pick. Pippa is brilliant.

  • KE

    Kenan E.

    18 3 2017 18:59

    2       0

    I LOVE Pippas positive attitude!! Her views are always so enlightening.

    Nonetheless I disagree on some aspects:
    1. State Education: I don't think ANY state has a real interest in REALLY educated people. States are interested in having dumb working slaves. Yes, they have to be able to read, write and some math wouldn't be too bad. But states do not want to have people who pose too many questions and want to live a self determined life. So -- speaking for germany now. The state education does not deliver what our kids need and IMHO you need to put your children into alternative education systems (luckily we have these here)

    2. Do people know what is going on (This also relates to point 1)?? NOOOOhhhh -- Pippa they do not. If they would, we would have had a revolution looooonnnng ago, everywhere, in every OECD state. If people would have understood how our monetary system works, how money creation works, how the whole underpinning of the monetary system by credit just enriches the rich...
    Or why was there in every developed country I know no real opposition parties until some years ago. We had the same game everywhere. The mainstream political parties where the same everywhere it just didn't matter who you voted for -- well at least that changed in the last few years. But I am not so shure if that really gets us some good alternative...

    So this is just my 2 Cents. Just combine my negativity with Pippa's positive energies ;-)

  • TM

    The-First-James M.

    14 3 2017 19:00

    0       1

    JIN L Check out Mannings Publications. I guarantee you'll find something of interest in their book list.

  • LC

    Luiz C.

    13 3 2017 09:24

    3       1

    1 hour spent listening to some RV interviews (Pippa M, Michael G,...) is the best investment

  • AB

    Aaron B.

    12 3 2017 23:39

    7       1

    Pippa for president, seriously.

  • TS

    Tamara S.

    12 3 2017 17:02

    1       0

    You're the best Pippa! But I still wonder about inflation because most people can't afford to chase prices. Perhaps they will substitute instead - roommates, less protein and medical care.

  • AE

    Alex E.

    12 3 2017 05:28

    3       2

    Nice to see the good Dr. back. I like that she can take complex subjects and explain them in plain English. I, for one, am not enamored with a digital based currency. Mt. Gox was NOT a one-off. The more sophisticated the system, the more sophisticated the hacker...

  • DC

    Dave C.

    12 3 2017 02:03

    2       0

    Very confident lady with polished presentational skills, bordering on the evangelical at times IMHO. Unfortunately showed a lack of understanding and historical knowledge regarding some of the solutions proposed.

    "Look at coders. Who ever even heard of a coder 20 years ago? And now it's a proper profession. Didn't even exist in anybody's imagination 30 years ago."

    Coders used to be called Computer Programmers when they lived in Data Processing departments ( before IT ) and they even professional status in the early 1970's.

    As regards the proposition of blockchain as a solution to the debt problems - I agree with previous negative comments made earlier. As regards proposing the Indian model as an example of success, that story has yet to complete in my view.

    Still, it always good to here what some of the views of the Council on Foreign Relations are on these subjects.

  • JB

    Jenny B.

    12 3 2017 00:26

    2       0

    What an incredible and positive woman! Thank you.

  • CL

    Chewy L.

    11 3 2017 16:38

    1       0

    Can anyone recommend some good books on AI/automation for someone who wants to get their feet wet in this area? Anyone worth following who is ahead of the curve? Thanks

  • TH

    Timo H.

    10 3 2017 16:12

    3       0

    Excellent interview of Pippa once again, with one exception: the blockchain vision is a bit too dark. Distributed ledgers are just a way to automate processing of value-moving transactions significantly more efficiently than today by guaranteeing, that the parties ot the transaction have identical views to the transaction at all times. As authorities will insist on being observing parties to any value-bearing activities, they will be able to monitor these transactions in real time. This change will absolutely happen and it makes a large number of accountants and auditors seeking new job in the next 5-10 years and makes circumventing the rules imposed by authorities extremely difficult. However, there's no reason to put the location history of a person or other personal non-financial data into a distributed ledger. For those purposes, there's a technology area called "Self-sovereign identity", which puts person's data under his/her own control and under cryptographic protection, if so desired. It is up to the individual to decide, which data he/she wants to disclose and to whom. That is a significant improvement from the current practice where individuals' data is "owned" by corporations such as Google and Facebook and the individual has very little control over the data.

  • DS

    David S.

    10 3 2017 08:20

    4       0

    Chinese Bityuan is being readied. When it is ready, Bitcoin exchange accounts in China may be made illegal as holding a Coinbase account was in Hawaii by legislation. (Coinbase is requesting all Hawaii residents accounts be closed within 30 days.) Governments will not easily give up their control on any form of currency. DLS

  • BL

    Bryn L.

    10 3 2017 06:43

    1       0

    Good to listen to.
    Intelligent & open-minded discussion.
    Glad to hear that Orwell's 1984 book is popular again.

  • RA

    Robert A.

    10 3 2017 01:09

    6       0

    Pippa was her usual remarkable self, but I'd like to give a hat tip to the interviewer as I thought he was really, really good. Just an excellent interview RV....great content and a great flow to it.

  • RG

    Richard G.

    9 3 2017 21:00

    1       1

    How does one divert resources away from state-sponsored education when we are compelled to hand over our money to the education system by threat of violence? Pippa is always extremely well informed about any topic that comes up, but her stance on education makes literally no sense.

  • DS

    David S.

    9 3 2017 19:44

    0       0

    Please, as soon as possible, interview Dee Smith again in any format - a Rewind would be interesting. Thanks DLS

  • GM

    Greg M.

    9 3 2017 15:32

    0       0

    I enjoyed the interview. I am thinking about going through the grind for the MBA. I found that part of the conversation highly relevant. I am in 100% agreement with her that the areas of finance and economics are lacking creative out of the box thinkers. Companies should look to hire people who are smart and hardworking. I helps to have people who see things from a different perspective.

  • DY

    Dmytro Y.

    9 3 2017 05:36

    1       0

    Brilliant interview. Very interesting!

  • CD

    Charles D.

    9 3 2017 01:50

    4       0

    Pippa brilliant as usual...but not sure I get how u can "reset"...or eliminate debt easily by moving to digital currency using Blockchain technology...What happens to the creditors...banking system??.

  • PR

    Peter R.

    8 3 2017 23:42

    3       0

    Pippa is always worth listening to. I was relieved to hear that she had not sold her house again and bought a bunker in Wyoming, so no call on any crash in the foreseeable future. I agree that Trump is a disrupter, but I wish it was because he was intelligent rather than delusional. I did like her comment about Brexit, that people wanted to feel more British but are probably unprepared for the economic cost of that choice. Seekers of the golden uplands beware.

  • M

    Mark .

    8 3 2017 20:48

    11       1

    We haven’t practiced capitalism since the Fed started. If central banks do anything except back up banks in a punitive way, bad things happen, and people try to make up for it with government and voting. Rent seeking and dependency. Woodrow Wilson centralized the government into a system of statist inflationism. it quit “working" do to the wage deflation from technology and globalized labor. Our Rulers have to have inflation so they can tax it. So most will get screwed. A slightly deflationary economy with a naturally small government is the only humane way to live. Trump is just a natural manifestation of the collapse of the old, dumb system. That is what young people need to know. I hope RV can interview David Stockman about this subject.

  • DF

    Dave F.

    8 3 2017 19:53

    5       2

    One of the best interviews I have seen on Real Vision. You go, girl!!

  • JS

    Jon S.

    8 3 2017 19:11

    6       0

    @Gerald, did you miss your taxpayer provided meds this morning? Tolerant of other opinions you are not. You should be celebrating this woman's day, ah but only if it's a liberal woman. lol

  • FA

    Frank A.

    8 3 2017 19:10

    2       0

    I think the flat screen analogy is weak. Saying one gets a cheap TV from globalization is disingenuous when real wages haven't risen since the late 1990's. Being able to pay for a cheap TV with ever more debt is not a happy event.

  • NH

    Neil H.

    8 3 2017 17:57

    10       0

    Another great interview with Pippa. While she sold her house in 2005 and went to 100% cash in 2007, I would have loved to hear how she was positioned today with her own assets.

  • GG

    Gerald G.

    8 3 2017 17:52

    5       33

    Trump is NOT the Uber of politics. He is the class clown who got elected by promising to abolish the teacher and make the whole day recess. The only thing more idiotic than his preposterous promises to painlessly (and without cost) fix everything is the fact that so many Americans are actually stupid enough to believe it. I expect more from a Real Vision interview than inane platitudes from a doctorate who proudly proclaims she's got "both eyes open". Take your own advice Pipa and get your head out of your...

  • bf

    bart f.

    8 3 2017 16:21

    4       0

    PM is such a great mind always thinking away outside the box and I like her upbeat thoughts. On the flip side maybe because of her public commitments she is biased when commenting politics: surely Brexit is not an easy walk in the park, DT might be a necessary shakeup but he will cause some institutional damages too. In the end the pros might outweigh the cons but we should get both side of the argument. She pushed a bit deeper on the future of politics and the conclusions are shivering. Regarding inflation true it is the only way out but the terrible Ds will put a lid on the forward. Asset expropriation makes perfect sense. So far we experienced financial asset inflation in a deflationary environment and this trend is now reversing.

  • DY

    Damian Y.

    8 3 2017 11:33

    4       0

    I always enjoy listening to Pippa.

  • SD

    Stephen D.

    8 3 2017 07:15

    3       0

    There is so much here to think about, a fascinating dialogue between two remarkable minds. I didn't agree with it all, but I especially disagreed with Gordon Smith's "summary form" that in Asian society "the individual is subservient to the society" and that "that is considered the right and good thing". Asian societies, especially China are authoritarian and repress individual expression; but to conclude that that is the will of the people is profoundly wrong. Many, perhaps most ,people in Asia would like more personal liberty, governments deny them it.

  • PN

    Philip N.

    8 3 2017 06:50

    13       0

    I loved the interview but the government controlled block chain future is a dystopia that I hope doesn't come to pass.

  • SG

    Sherman G.

    8 3 2017 04:07

    4       0

    Enough superlatives! This was a 10!

  • CA

    Charles A.

    8 3 2017 03:52

    3       0

    What an fantastic interview! Will listen again soon. Pippa was, as usual, thought-provoking and Dee Smith is now in both the great interviewee and great interviewer category. More of both please!

  • AS

    Alex S.

    8 3 2017 03:13

    7       0

    I absolutely adore Pippa Malmgren, always appreciate seeing interviews featuring her.

    This is exactly the sort of content I feel grateful paying for, thank you :)

  • ww

    will w.

    8 3 2017 03:13

    8       0

    The human condition is not reducible to mere math and numbers. – BRAVO!!! So..., what do gov’ts think they can do by tracking our every step, as Pippa suggests they’ll be able to do w/ Blockchain proliferation?? (I know Pippa doesn’t support that tracking, she’s just warning us – we won’t shoot her because she bears such a frightening message!)
    Freedom/ Liberty is an ESSENTIAL requisite for human well-being – just as it is for (other) animate life. And an essential aspect of that freedom/ liberty, is PRIVACY. People do not and will not thrive and prosper, to the extent that their freedom and privacy are restricted. The prospect of not being able to avoid having one’s (hard-earned) wealth “clipped” is depressing enough. But to the extent gov’ts do manage to track us to anywhere near the extent that Pippa suggests they’ll soon be able to, we’ll be consigned to a new “Dark Ages”.

  • JS

    John S.

    8 3 2017 02:37

    8       1

    I always enjoy PM...her insights are thought provoking and (so far as I can tell) spot on. Yes, government will confiscate assets through inflation but this is nothing new and yes, Trump is an UBER disruptor of American politics and media dominance. Be offended if it's comforting but at the end of the day...it's just insight from someone worth our attention and I look forward to hearing more from the brilliant Pippa Malmgren.

  • FC

    Fractal C.

    8 3 2017 02:04

    4       0

    Great interview. PM is a super intelligent woman. However, her call on inflation needs to be double clicked. Markets seem to be indicating that there is some inflation in the short run but there isn't much expected in the long run. The world has too many deflationary pressures such as technology, Uber, cheap labor, innovation etc .

  • GG

    Gerald G.

    8 3 2017 02:00

    26       17

    Wow, this woman just has it all figured out doesn't she?.After explaining how the foolish Russian system collapsed because they ran out of money, I half expected to her start bragging about the fact that Americans have been clever enough to avoid this dilemma by printing fake money and borrowing more than they can ever possibly pay back. Later she actually did address that issue. Her solution was that we just wipe the slate clean and adopt a new financial system (blockchain). Of course the morality of cheating the rest of the world out of 10 trillion and walking away scott free wasn't even brought up. I assume that's because American's really wouldn't have much choice at that point right? Does the mafia boss who has a witness killed the night before the trial have no choice? There absolutely IS a choice and it's the same choice they've had all along...do the right thing or let the rot of moral decay (that got you there in the first place) continue. It seems the US has been choosing, and continues to choose to let the moral rot continue. I also loved how she portrayed Joe average salt of the earth as the rightful stewards of the future who have shaken up the status quo. Too bad that Joe Average salt of the earth is completely self serving and disinterested in anything other than immediate gratification and instant personal gain. Of course they elected a leader who promised to fix everything painlessly and for free. If Joe Average is so smart why hasn't he figured out that there is no way for Trump to deliver a "painless" solution to 30 years of abuse and excess.
    And BTW, clever Joe Average says Climate Change is a hoax.

  • JG

    James G.

    8 3 2017 01:58

    4       0

    As an industrial automation engineer I can relate to Pippa's comment on bring back shop. I learned my trade in a technical school, still managed to get a BS. I was always surprised how many of the college graduates did not even know how to use a wrench.

  • LN

    Lucy N.

    8 3 2017 00:08

    2       1

    That was OK

  • VS

    Victor S.

    8 3 2017 00:02

    12       0

    First I'm a fan of Pippa . I have her book. But in the last 12 mins Pippa -with her pretty smile -goes on to suggest a cashless US with the govt taking money out of this block chain A/C concept. This is Unconstitutional and worse it is Tyranny. If it were to occur the system would collapse and gold would be 10,000 $ an oz. it is virtually impossible ... the india example is totally not relevant .

  • JS

    John S.

    7 3 2017 23:51

    2       0

    Excellent

  • WB

    Wes B.

    7 3 2017 23:24

    9       0

    I found it amazing that she remained so glaringly positive through the whole interview... even as she suggested that governments would confiscate assets to pay down debt.

  • AA

    Aymman A.

    7 3 2017 22:14

    9       19

    To say that Trump is the Uber of politics is ridiculous. That is projecting your own thought on someone else. The man himself is petty and does not seem capable of big, grand, strategic thinking.

  • CH

    Colin H.

    7 3 2017 22:10

    5       1

    PM is a deep and creative thinker. Fascinating woman.

  • S

    Sean .

    7 3 2017 21:30

    1       0

    As usual, an incredible interview!

  • AH

    Andreas H.

    7 3 2017 21:18

    2       0

    I love it! Super interview!

  • MN

    Mark N.

    7 3 2017 21:07

    7       1

    Fascinating interview. Huge props to Gordon Smith, he turns out to be a surprisingly good interviewer who could be the Michael Green counterpart for the more thought-piece type interviews.

  • AH

    Andreas H.

    7 3 2017 20:56

    3       0

    YEP, math models with wrong assumtions screw the world! By the way all regular risk measures based on the normal distribution like vola, sharp, beta, alpha based on a wrong Assumtion. Same with EMH or CAPM or Portfolio Theory, homo economicus, all wrong!

  • KD

    Ken D.

    7 3 2017 20:49

    2       0

    Wonderful!

  • T~

    Tshort63 ~.

    7 3 2017 19:33

    3       0

    Amazing interview, I like the extended format and mutual engagement. This one is spectacularly rich in the best sense of Philosophy, asking why and exploring everything. As an individual one can have thoughts but to truly think takes a network of other strong thinkers. Outstanding discussion!

  • PU

    Peter U.

    7 3 2017 19:31

    10       7

    I normally like what Pippa has to say, but this time it felt it lacked substance and details.

  • TS

    Tyler S.

    7 3 2017 19:26

    1       1

    the framing of this interview is, off..

  • WS

    William S.

    7 3 2017 18:38

    17       0

    I have given considerable thought to the notion, advanced by many, that the inexorable evolution of "money" will be towards something even LESS tangible than what it has become under the current debt-based regime. I must confess that I am increasingly dubious of this outcome. The world I see around me is one wherein more and more resistance appears to be forming against both the hidden hand of counter-party risk and the totalitarian creep of the past several decades. Blockchain technology purports to be the essence of decentralization, and yet it is inextricably dependent on avenues of exchange that can and almost certainly will be co-opted and ultimately monopolized -- and therefore inevitably corrupted ... the promise of decentralization thereby turned on its head and become an even greater extension of centralized, despotic control. Of course, humankind, as Pippa notes, is forever adaptable, and inventive circumvention has always been one of the most disruptive forms of adaptation. But I am inclined to conclude that the level of control to which state entities have become accustomed will not be ceded absent revolution. And revolutions have the nasty habit of producing very unpredictable outcomes.

  • DM

    Daniel M.

    7 3 2017 17:30

    5       0

    Economics is not a science. Its fundamental building block - money - arises solely from shared myth (fiction, narrative, call it what you will). How then can formulae be applied and models be built when the fundamental building block of everything is based solely on a collective fiction housed in the minds of emotionally driven human beings.

  • TV

    Todd V.

    7 3 2017 16:56

    12       0

    I always enjoy listening to Dr. Pippa - and her insight into current and future events. I always walk away with trying to think a little bit more different. Great piece!

  • KK

    Kevin K.

    7 3 2017 15:49

    15       0

    The money debt point is rock solid and we better be aware of the move to a cashless society and the implications that will have.

  • AH

    Andrew H.

    7 3 2017 15:14

    19       1

    With all the propaganda from the politicians, I do not agree with the point that the electorate knows the real issues, nor votes on the correct issues. Chomsky says to have two sides debate vigorously about an issue that does not matter is the way to preserve power.

    AS long as false facts and false issues are allowed to be integrated into the messaging, we will continue to not solve the important issues.

  • HA

    Hammad A.

    7 3 2017 13:42

    7       0

    Very insightful...

  • VK

    Viresh K.

    7 3 2017 12:18

    6       0

    I feel the political economy section of the interview could have been a whole interview in itself and it's impacts on making investment decisions.

  • Nv

    Nick v.

    7 3 2017 12:13

    10       1

    AI is an exponential growth technology. People operate linearly. It's a basic math problem.

  • VK

    Viresh K.

    7 3 2017 11:41

    21       0

    Just with the young people topic, I completely agree. If you look at forums in many websites such as Reddit, or even the FT... you'll see that so many people have lost faith in Capitalism. They equate it with unfairness and corruption. There's a lack of understanding between equality of opportunity and equality of outcome.

    You can understand why this is however, there has been a lot of those things, due to the politicians that became comfortable being in power for so long. However, perhaps there needs to be a proper talk about some of these areas that have been concensus for so long to try and re-educate people into what Capitalism is, what Socialism is etc.

  • gg

    gurdeep g.

    7 3 2017 11:04

    5       0

    wow!

  • VK

    Viresh K.

    7 3 2017 10:55

    12       1

    Pippa just makes sense on the big issues in a way that few people do.

    The reasoning and logic is clear. Great stuff.