Wall Street never misses a chance to inflate a bubble, and now Nvidia — led by its rockstar CEO — is teaming up with the “nonprofit” OpenAI for the latest magic trick: a chip-leasing scheme. OpenAI gets to dodge capex and depreciation, Nvidia keeps the GPUs (and the collateral), and everyone gets to pretend this is innovation rather than financial engineering straight out of the dot-com bubble playbook.

Call it cynical, but we all have seen this movie before — and it doesn’t end well.

https://sherwood.news/tech/report-nvidia-may-lease-its-chips-to-openai-as-part-of-deal/

This isn’t Nvidia’s first rodeo in circular economics. Remember CoreWeave? Nvidia invested in a startup that relied on its chips — which then used those very same chips as collateral to borrow money… to buy more Nvidia chips. Brilliant.

Now fast forward to this week’s leasing story with OpenAI, and it feels like the same playbook: an elegant loop of money and hardware dressed up as innovation. First CoreWeave, now OpenAI — Nvidia keeps finding ways to turn its chips into their own growth engine to implement the ‘Money AI-st’.

https://themacrobutler.substack.com/p/money-aist

OpenAI’s motive? Easy — it’s burning cash and still needs Microsoft to keep the lights on. Nvidia’s motive? Even easier — keep the AI hype train running at all costs. When “innovation” morphs from new chips to new financing tricks, that’s not progress — that’s end-of-cycle kabuki.

Nvidia isn’t just selling GPUs, it’s sprinkling cash everywhere — six major deals in 2025 alone: Gretel, Lepton AI, CentML, plus stakes in Intel, OpenAI, and ElevenLabs. The pace is dizzying — like they’re trying to headline every news cycle just to remind you they exist.

But this isn’t a scrappy startup. Nvidia is a market pillar, stuffed into every ETF and retirement account. If the magic fades, it won’t just be Nvidia that tanks — it’ll shake the whole market.
Leasing GPUs? Sure, because fast-depreciating, soon-obsolete hardware totally belongs on a subscription model. It’s a treadmill — customers run, Nvidia collects rent.

At the end of the day, when chip execs sign chests like rockstars, you’re not in a golden age — you’re at the top, waiting for gravity.

https://disconnect.blog/roundup-is-this-peak-ai-hype/

The Eurocrats — those Davos-bred, Keynesian Malthusians — are back at it, cooking up another “legally creative” scheme. This time, they want to funnel billions in frozen Russian assets to Ukraine by swapping the cash with EU-backed IOUs.
It’s classic Brussels: can’t touch the principal (too legally messy), so they’ll just securitize the interest and call it innovation. Think of it as the latest episode of How to Move Money Without Technically Stealing It.

https://www.politico.eu/article/eu-frozen-russian-assets-war-in-ukraine/

Nearly €200 billion in Russian assets have sat frozen since 2022, mostly parked at Brussels-based Euroclear, but now Ukraine’s €8 billion budget hole has the EU scrambling for “innovative” solutions.

The latest brainwave: swap the interest income sitting at the ECB for zero-coupon EU bonds, call it a “Reparations Loan,” and promise Kyiv it won’t owe a cent until Russia pays up. Ursula, The Corrupt European Commissioner In Chief, pitched it as free money in her State of the Union speech, though the fine print involves unanimous national guarantees and plenty of legal gymnastics. Belgium and Euroclear keep warning that touching the principal is a lawsuit waiting to happen, but Brussels seems happy to dress up accounting tricks as geopolitical strategy.

https://www.euroclear.com/newsandinsights/en/press/2025/mr-05-euroclear-delivers-strong-results-in-2024.html

In a nutshell, Brussels is turning frozen Russian interest into EU-backed IOUs, calling it a “Reparations Loan” — the latest episode of How to Move Money Without Technically Stealing It.

As Britain rolls out its shiny new digital ID under the watchful eye of Prime Minister ‘Keith Starmer’, Loyal Servant of Davos, the EU is not to be outdone — it’s launching its own high-tech “digital gulag.” The Schengen Entry/Exit System (EES) will dutifully log every third-country traveler’s fingerprints, facial scans, and travel history, replacing quaint passport stamps with a permanent entry in the great continental ledger. Starting October 12 2025 and fully operational by April 2026, this system promises faster border crossings — once you’ve handed over your biometric soul — and will keep track of every 90-day stay like a dutiful panopticon. All in the name of “security,” of course, because nothing says freedom quite like automated surveillance at all 29 Schengen borders.



https://travel-europe.europa.eu/ees

Liberty can be chained, but never killed — she always rises again. Even Jefferson knew it: “The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.” History is our guide because power always serves itself, and human nature hasn’t evolved a bit.

Post-2032, we’ll get the chance to rewrite the rulebook — and this time, let’s be honest with ourselves: no Republics.

Listen to The Month That It Was in September 2025 from The Macro Butler.

https://themacrobutler.substack.com/p/the-month-that-it-was-september-2025

China’s September PMIs show the economy’s still slowing — just not tripping over its shoelaces as badly as in August. Manufacturing and construction got a small lift after factories paused for a military parade, while services cooled as holiday crowds vanished. The official PMI crept to 49.8 (still contraction), and non-manufacturing just squeaked in at 50.0 — the bare minimum for ‘not terrible’.

In a nutshell, China’s economy is wobbling, not crashing — but nowhere near ‘Great Again’ .

As Britain rolls out digital IDs and Brussels toys with biometric borders, it’s only fitting that Davos disciple Bill Gates is now cheerleading electronic tattoos — a neat little skin patch to track your vitals, log you in, and replace your phone by 2030.
Big Brother, but make it wearable.

https://mycharisma.com/most-recent/bill-gates-pushes-electronic-tattoos-to-replace-smartphones-but-is-this-leading-to-the-mark-of-the-beast/

Chaotic Moon’s ‘biowearables’ were born in 2015 with the military in mind — data-collecting ink that can sit under a flak jacket and beam your vitals back to command. The company pitched it as the evolution of bulky Fitbits into a seamless ‘human circuit board.’ A decade later, Bill Gates is bankrolling the vision, declaring smartphones obsolete and tattoos of surveillance the future.

Big Brother doesn’t need a screen anymore — just your skin.

https://techcrunch.com/2015/11/23/chaotic-moon-explores-biometric-tattoos-for-medicine-and-the-military/

The sales pitch is convenience — your debit card, health records, and digital ID all tattooed on your skin. But the fine print is hard to miss: a system where no one buys or sells without the mark.

Call it fintech, call it innovation —The ancient prophecy might just call it 'déjà vu'.

Revelation 13:16-17 states, “And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.”

The Macro Butler dives deep with Nomi into today’s financial system, revealing why bonds have turned into the riskiest asset as the Western world hurtles toward an inevitable sovereign debt trap.

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

🤵 The Macro Butler’s Monthly Meditation 🤵

🌐 The Blue Gold Rush or the art of navigating water’s supply wars, geopolitical stakes, and benefit from hidden investment opportunities. 🌐

Read more here: https://themacrobutler.substack.com/p/the-macro-butlers-monthly-meditation

Listen to a summary of The Macro Butler Monthly Meditation via podcast on Substack; YouTube; Rumble & TikTok.

https://themacrobutler.substack.com/p/the-macro-butlers-monthly-meditation-6b9

Dear Investors,

Please find below the September 2025 factsheet for The Macro Butler Long/Short Portfolio.

https://themacrobutler.substack.com/p/the-macro-butler-longshort-portfolio-3ca

Dear Investors,

Please find below the September 2025 factsheet for The Macro Butler Strategic Portfolio.

https://themacrobutler.substack.com/p/the-macro-butler-strategic-portfolio-18a