Macroscopic Podcast Michael Every: The Global Order Is Breaking, WW3 Already Started | Future of Gold Series
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Mar 16, 2026 
Michael Every, global strategist at Rabobank known for grand macro strategy and statecraft. He discusses the breakdown of the old global order and the return of hard power. He explores energy chokepoints, military and economic intertwining. He examines bipolarity between the US and China, Europe’s vulnerability, and why markets may struggle to price this new world.
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Grand Macro Strategy Replaces Pure Market Thinking
- Grand macro strategy combines diplomacy, economy and military rather than relying solely on markets or technocrats.
- Every argued markets are vital but insufficient; states must use economic statecraft and reindustrialisation for security.
Markets Become Weapons In Economic Statecraft
- Markets now act as both weapons and targets in statecraft, used to coerce rivals and signal power.
- Example: Trump’s Venezuela moves aimed to shift oil flows and send a geopolitical price signal to China.
Energy Chokepoints Are Strategic Vulnerabilities
- Energy infrastructure vulnerability gives small actors outsized leverage; protecting refineries and LNG trains is now strategic.
- Every warned attacks or safety shutdowns (e.g., Qatar LNG, Saudi refinery debris) can cause major market and political pressure.