Pippa Malmgren put a pointed question to Izabella Kaminska in Kraków: “Are we heading towards something on Ukraine? And if yes, what does it mean for Poland? And if no, what does it mean for Poland?”

Izabella’s answer is that it barely matters: “Poland’s future is going to be aligned in defense either way.” From here, their conversation traces Poland’s improbable rise (an economy now on par with the UK, soon the largest standing army in Western Europe), the split inside the country over Trump and Europe, and the Three Seas buffer quietly taking shape.

After a stretch only these two could have, Pippa and Izabella get to a question underneath all of it: if the war ends and Ukraine becomes the largest construction project since the Marshall Plan, how does anyone actually pay for it? Izabella’s answer runs through stablecoins, tokenization, and an international monetary system being rebuilt in real time.

The full conversation is here for Insights subscribers. If you’re new to Collective, start with our Field Notes from Kraków for the full story of the trip that produced this conversation.

Remember, this post is for informational purposes only. For anything investment-related, you should consult a qualified financial advisor who can help assess your individual needs, risk tolerance, and goals.

“Is it possible that we’re witnessing the beginning of a rebalancing of power, without the need for a global conflict?”

Steven Wilkinson put this question to Pippa in Kraków, and her answer is optimistic (quite on brand for her), with Poland at the center of it. Together, they traced why the US, Russia, and China may be edging toward deals, why commerce and culture move before diplomacy does, and why Poland is being handed the pole position in what could be the largest reconstruction project since WWII.

The full conversation is available to Insights subscribers on our Substack. If you’re new to Collective, start with our Field Notes from Kraków for the full story of the trip that produced this conversation.

Remember, this post is for informational purposes only. For anything investment-related, you should consult a qualified financial advisor who can help assess your individual needs, risk tolerance, and goals.

It began with a question: “If you only had 5 minutes to prepare... what’s the 10-minute TED Talk you could stand up and give?”

Rob Gray’s answer was so intriguing, we had to capture it on camera for you. Our good friend Sir Steven Wilkinson sat down with Rob on the private terrace off the Fireplace Room, our home for the day, up in the tower at Zinar Castle just outside Kraków.

The whole conversation builds to one exchange:

Steven: “Is the tantalum market ready for it?” Rob: “No.”

Rob spends the next ten minutes on why: a 2,500-ton metal market about to get hit by AI, chips, and SpaceX all at once.

Get the full download from Kraków

The full conversation is here for Insights subscribers. If you’re new to Collective, start with our Field Notes from Kraków for the full story of the trip that produced this conversation.

Remember, this post is for informational purposes only. For anything investment-related, you should consult a qualified financial advisor who can help assess your individual needs, risk tolerance, and goals.

We catch up with Helen Thomas, CEO of BlondeMoney, for a speed round update of what she's watching on the global landscape, what she's preparing for and what she's looking forward to.

They Like to Watch: podcast with Sara Barron & Geoff Lloyd
https://podcasts.apple.com/us/podcast...

Global Discord by Paul Tucker
https://www.amazon.com/Global-Discord...

Learn more about Collective at https://www.the-membership.com

Learn more about Helen at https://blondemoney.co.uk

Jared Dillian, Editor of The Daily Dirtnap and Peter Atwater, author of ‘The Confidence Map’ get together for a chat about sentiment, confidence, and how to best track and consider the actions of the Fed. 

President of Bianco Research, Jim Bianco and MI2 Partners Advisor Harry Melandri discuss all things macro in this conversation filmed at the MI2 Partners Global Macro Summit in Vail on September 28, 2023.

Jim highlights the importance of the labor market in a post-2020 world and all the knock-on effects of the end of the traditional 5-day work day world.

"'Let's remember what the major problem is, it's a cycle shift in preferences and in the way that we view things that's really driving this, not that everything was fine and we just piled on interest rates."

“Rebalance” is a code word for going back to normalizing AKA back to the 2019 cycle of regular 5-day office workday world, a neutral interest rate world. If we’re not, and 2020 marked a cycle change and work from home accelerated things.”

Learn more about Collective at https://www.the-membership.com/

Seasoned global macro strategists Julian Brigden, President of Macro Intelligence 2 Partners, and Roger Hirst, Co-Founder of Vision Creative Labs, chat through the current macroeconomic climate, what it's like to trade in the current cycle, and what is happening with monetary policies a global scale. Filmed in Vail, CO on September 26, 2023.

Renowned economist and former US Presidential Advisor Dr. Pippa Malmgren and emerging technologies expert Timothy Papandreou discuss the latest in AI (including a deep dive into what it is, and what is isn't), exciting developments in space exploration & technologies, and the importance of being optimistic about the future.

Filmed on July 1, 2023 in Le Mans, France.

Learn more about the Collective at https://www.the-membership.com

Mutiny Fund CIO Jason Buck hosts volatility trader and Editor of Moontower Kris Abdelmessih for a conversation that spans discretionary edge, confidence intervals, life optionality and more.

This episode was filmed at the Edgewood Resort on the shores of stunning Lake Tahoe at the Collective Summer Retreat.

Learn more about the Collective at https://www.the-membership.com

Renowned economist and former US Presidential Advisor Dr. Pippa Malmgren and seasoned tech executive and entrepreneur Patrick Walker sit down for a chat about the latest in geopolitics (notably in the arctic), the upcoming US Presidential race, and why psychedelics should be taken seriously. Filmed on July 1, 2023 in Le Mans, France.

Mentioned in the episode:

• The Beauty of the Flower Richard Feynman


• How to Change Your Mind by Michael Pollan


• This is Your Mind on Plants by Michael Pollan