"Gold Natural Money for Multipolar World" - John Butler on $40,000 Gold, Trump and AI

In this episode of Reinvent Money, Paul Buitink speaks with John Butler about the future of gold, central bank demand, and what a multipolar world could mean for the monetary system. They discuss whether recent corrections in gold are temporary, why inflation and liquidity risks still support higher prices, and how central banks and emerging markets may reshape demand. The conversation also explores the Fed, Kevin Warsh, Trump insider trading concerns, and the limits of AI hype versus real productivity gains. A sharp, macro-focused look at money, markets, and the shifting global order. Follow John Butler: https://theamphorareport.substack.com/ Follow Paul on X here: https://x.com/paulbuitink Timestamps: 0:00 Intro 1:46 Gold price action and Trump insider trading 7:50 Central bank survey on gold 9:07 Federal reserve policies of Kevin Warsh 13:48 Butler's gold price target of $40,000 20:40 How will gold become the standard again? 28:04 How would gold be used in practice between nations 32:31 Discussion on safe havens: Dubai, Switzerland, Singapore, Shanghai 38:12 AI, will it fulfill its promise? 42:48 Outro