5/5/5 will be Must See TV with rising star and bestseller of Substack Michael Howell -live on the ATOMiQ LEVEL

The Capital Wars Are No Longer Theoretical

For decades, investors were taught to watch earnings, interest rates, inflation, and GDP.

Michael Howell says that misses the real story.

In Capital Wars, Howell argues that the modern financial system is not primarily driven by traditional economic cycles anymore. It is driven by global liquidity, the massive flow of credit, collateral, central-bank money, shadow-bank funding, and cross-border capital that determines who can refinance, who can speculate, who can survive, and who gets forced to sell.

In other words, markets today are not just valuation machines.

They are refinancing machines.

When liquidity rises, risk assets levitate, collateral values expand, debt rolls over, and investors feel brilliant. When liquidity contracts, the same system starts to reveal its fragility. Collateral gets questioned. Balance sheets tighten. Capital retreats. Volatility spikes. And eventually, central banks are forced back into the game.

That is the battlefield Howell calls The Capital Wars.

And today, that battlefield is more important than ever.

The United States, China, Europe, Japan, sovereign wealth funds, central banks, shadow banks, corporations, and investors are all competing for control over the same scarce resource: mobile global capital. The winners attract liquidity, fund innovation, support asset prices, and preserve financial dominance. The losers face higher borrowing costs, weaker currencies, capital flight, and systemic pressure.

On this episode of The ATOMIQ LEVEL, I sit down with Michael Howell to get his latest scorecard on the Capital Wars as they stand right now.

We’ll ask:

Where is global liquidity rising or falling today?

Has the liquidity cycle already peaked?

What is China signaling?

Is the U.S. dollar still the ultimate weapon in the capital war?

What should investors watch beyond Fed rate cuts?

Where do Bitcoin, gold, bonds, equities, and hard assets fit in a liquidity-driven world?

And most importantly, what breaks next if the refinancing machine starts to slow?

Because if Howell is right, the question investors should be asking is not simply, “Where are rates going?”

The better question is:

Where is the liquidity going, who controls it, and who gets crushed when it disappears?

Kicking off tomorrow’s double header with the king of where liquidity is heading next Michael Howell followed by another banger on all things Bitcoin with Jimmy Song. Save the alert for the first session here open.substack.com/live-…King CAMBO Garrett Baldwin