Listen to a summary of The Macro Butler weekly newsletter via podcast on Substack; YouTube; Rumble; Spotify & TikTok.

https://themacrobutler.substack.com/p/eternal-bullion-podcast

The Macro Butler sat down with Nomi to connect the dots between China’s economic , the growing global “War Tax” from the Middle East, and what could be the buying opportunity of a generation in precious metals.

While Wall Street remains distracted by the latest AI fairy tale and media headlines, smart money is quietly accumulating real assets. We discuss why the recent correction in gold and silver may be shaking out the weak hands before the next major leg higher, and why investors should consider exchanging increasingly fragile paper promises for timeless monetary insurance.

📈 China is decoupling.
🌍 Geopolitical risks are rising.
💵 Debt levels are exploding.
🥇 Gold and silver are on sale.

The question is simple: Are you prepared for what comes next?
Watch the full interview and discover why the next chapter of the commodity bull market may already be underway.

https://themacrobutler.substack.com/p/interview-with-prinsights-global

🚨 THE NEXT WAR WON'T BE FOUGHT ONLY WITH BULLETS... IT'LL BE FOUGHT WITH COMMODITIES. 🚨

Forget the headlines.

The real battlefield is:

🛢 Oil
🥇 Gold
⚡️ Energy
🌾 Food
🔋 Critical minerals

Every major conflict eventually becomes a fight over resources.

While politicians talk about democracy, security, and diplomacy...

Markets are pricing shortages, supply disruptions, and inflation.

The investors who understand geopolitics today may be the ones protecting their wealth tomorrow.

🎯 The question isn't who wins the war.

It's who controls the commodities.

Watch before the crowd figures it out.

As Middle East peace evaporated on schedule, the Malthusian Dancer on high heels from Kyiv decided one active front was insufficient creative expression and issued a Friday night social media ultimatum to Belarusian President — demanding he dismantle his southern border air defence radar within one week or Ukraine "will do it" — a deadline delivered in the format normally reserved for influencer announcements, directed at a country hosting Russian tactical nuclear weapons and constitutionally bound to Moscow in a Union State. The timing is magnificent: a Ukrainian drone had already struck a bus carrying a Belarusian youth football team, killing one woman and wounding four teenagers, an incident Ukraine dismissed as a "provocation" while Russia launched a terrorism probe and Lukashenko warned Ukraine "will pay dearly." Four years of remarkably restrained Ukraine-Belarus non-belligerency now hang on a tweet.

https://x.com/ZelenskyyUa/status/2068027014641045690

When your geopolitical ultimatum is delivered via social media to a country hosting Russian nuclear weapons, peace is already writing its own obituary.

The Macro Butler is back on the airwaves of BFM 89.9 — Malaysia’s premier business radio — to cut through the noise on three themes the consensus is still getting spectacularly wrong.

Why stagflation never left — and why every new war simply adds another chapter to the same story of shortages, disrupted supply chains, and structurally higher oil prices.

Why the Fed will be forced to hike rates not out of conviction but out of desperation — because everyone knows the Fed doesn’t control the cycle; the cycle controls the Fed.

And most importantly: why this is precisely the moment to buy gold, not sell it — because the Eternal Bullion doesn’t care about doomsayers, doesn’t need a central banker’s blessing, and has outlasted every empire that tried to replace it.

Zero hopium. Zero soft landings. Just the macro playbook that history keeps validating.

🎧 Listen now — before the next rate hike reminds you why you should have bought gold last week.

https://themacrobutler.substack.com/p/interview-with-bfm-899-radio-22062026

The Ministry of Fiscal Innovation has identified a magnificent new revenue stream: the SpaceX IPO. The Communist Republic of California, surveying the billions in capital gains about to crystallise among state-based employees of a company whose founder relocated both Tesla and SpaceX headquarters out of the state specifically to escape California's regulatory hostility and tax burden, has concluded that the appropriate response is not to ask why entrepreneurs keep leaving — but to position itself to harvest the exit on the way out. State officials have openly acknowledged that IPO windfall gains could help plug budget holes and support spending programmes increasingly dependent on volatile tax receipts — which is the Sacramento way of describing a fiscal model that gorges during boom cycles, expands permanently, and then expresses theatrical surprise when the cycle turns and revenues collapse.

https://www.cnbc.com/2026/06/18/california-ipo-tax-windfall.html

The encore is even more creative: California is simultaneously debating a one-time 5% billionaire wealth tax estimated to generate roughly $100 billion — a proposal whose primary achievement would be to accelerate the capital flight the state is already experiencing and ensure that the next SpaceX is founded in Texas. The Ministry sees every successful company, every IPO, and every wealthy resident not as an asset to cultivate but as a resource to harvest — and then expresses bewilderment when the harvest keeps moving.

https://www.theguardian.com/us-news/2026/jun/18/california-billionaire-tax-ballot-tech-opposition

California didn't build Silicon Valley by taxing success — it is dismantling it the same way, one exit at a time.

The Macro Butler returned to Asharq Bloomberg TV to deliver the macro call the consensus is too uncomfortable to make: the latest pullback in gold is not a warning — it’s an invitation.

Forced sellers are in full capitulation, the chart is screaming a textbook double bottom, and the geopolitical powder keg that the market keeps pretending has been defused is about to remind everyone why gold exists in the first place. When Trump Stagflation stops being a forecast and becomes a headline, and when investors finally accept that the Eternal Bullion is the only asset that carries no counterparty risk, no central banker’s blessing, and no redemption gate — the dip will be a distant memory.

Gold is not for peace. Gold is for war. And war, it turns out, is not going anywhere.

📺 Watch now — before the next geopolitical catalyst turns today’s pullback into tomorrow’s missed entry point.

https://themacrobutler.substack.com/p/interview-with-asharq-bloomberg-tv-1f6

The Macro Butler is delighted to be featured again by Hubbis— Asia’s premier wealth management platform — to make the argument that every serious investor needs to hear: in a world of weaponized currencies, gated private credit funds, reckless governments, and central banks that don’t control the cycle but are controlled by it, gold remains the only truly antifragile asset.
📖 Read now — and ask yourself why your portfolio still treats gold as optional.

https://themacrobutler.substack.com/p/hubbis-eternal-bullion

The Ministry of Stable Governance has a brief administrative announcement: ‘The Keith Starmer’ has resigned as Prime Minister and Labour leader just under two years after capturing the keys to Number 10, succumbing to an internal party mutiny after his parliamentary colleagues concluded he was no longer best placed to lead them into the next general election — a verdict ‘The Keith’ accepted "with good grace," which is British for "I had no choice." Britain now faces its seventh Prime Minister in a decade, a rate of leadership turnover that would embarrass a mid-tier football club, achieved by a nation that still occasionally lectures the world on institutional stability.

The immediate catalyst was Andy Burnham's by-election victory in Makerfield, which handed the "King in the North" a seat in the Commons and effectively checkmated Starmer's already diminishing authority — proof that in modern British politics, the most dangerous man is not the opposition but the ambitious colleague two constituencies away. Starmer, in a final act of theatrical selflessness, framed his departure as patriotism rather than capitulation — because in the Ministry of Truth, every political execution is repackaged as a sacrifice.

https://x.com/BBCBreaking/status/2068978424341836101?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2068978424341836101%7Ctwgr%5Ea35b1a5e7595dcbf5ae3dd70a8a580a7e42c303c%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Fprime-minister-keir-starmer-resigns-uk-faces-7th-leader-decade

🚨 THE MOST UNDERVALUED ASSET IN THE WORLD? 🚨

While everyone is chasing AI stocks, meme trades, and the latest Wall Street fairy tale...

One asset class is quietly trading at valuations not seen in years.

👀 Nobody wants it.
📉 Sentiment is terrible.
💰 Capital has fled.
⚠️ Supply is tightening.

And that's usually when the biggest opportunities are born.

The greatest investments are rarely popular when they are cheap.

They're popular after they've already doubled.

The question isn't what everyone is buying today.

It's what they'll be desperate to buy tomorrow.

🎯 Watch the full video to discover why the most hated asset today could become one of the biggest winners of the next cycle.

The Wise Investor does not announce what he accumulates — he simply accumulates. China imported 163 tonnes of gold in May alone — a two-year high — bringing the five-month total to 692 tonnes, up 76% year-on-year, while the People's Bank of China officially reported purchasing a modest 10 tonnes, a discrepancy so vast it suggests the left hand has been instructed not to inquire what the right hand is doing.

‘Government Sachs’ estimates actual PBOC purchases ran closer to 24 tonnes in April — still five times below the import pace — leaving a mathematical gap large enough to park a sovereign wealth fund in, yet politely unaddressed by all parties. Meanwhile Hong Kong is stockpiling 400-ounce London Good Delivery bars ahead of its July gold clearing system launch, Singapore is racing to follow, and a record 45% of the world's central banks have confirmed they intend to increase gold reserves over the next twelve months — because when the wise men of 76 nations simultaneously reach for the same antifragile asset, the movement is no longer tactical but civilisational.

When the world's largest gold buyer imports five times more than it officially admits, the Master reminds us: it is not what is declared that reveals the strategy — it is what is quietly carried through the door.

🚨 INFLATION IS BACK... AND THIS TIME IT'S WEARING A MILITARY UNIFORM 🚨

The first inflation wave came from Covid.

The second is arriving through war, energy shortages, supply disruptions, and geopolitical chaos.

⛽️ Higher oil prices
🚢 Disrupted trade routes
💣 Expanding conflicts
🛒 Rising living costs

And yet investors are still being told inflation is "anchored."

History is clear:

When governments spend more...
When wars expand...
When commodities supply tightens...

Inflation doesn't disappear.

It comes back stronger.

🎯 The real question isn't whether inflation returns.

It's whether your portfolio is prepared for this second wave.

Watch the full video and discover why the next inflation wave may already be underway.

The Master observes: the wise investor who studies the river's behaviour across years will not be surprised when it runs shallow in June. The Bloomberg seasonality heat map covering two decades of XAUUSD returns delivers a quietly sobering message for the impatient: June has been gold's most treacherous month in the calendar, printing red with remarkable consistency across the last twenty years — 2012's savage -11.04%, 2025's -9.20%, 2013's -6.26% and 2022's -2.21% among the more memorable casualties — while the current June 2026 is already down -9.25% with the month not yet complete. The pattern is not accidental; June traditionally coincides with the seasonal lull between Indian wedding demand and the autumn restocking cycle, a period when speculative positioning unwinds, and fair-weather gold enthusiasts discover that conviction is considerably easier to maintain during a rally.