"The Kingdom of No" by Grant Morrison, Richard Case, and John Nyberg.
A big chunk of the DCU guest-stars in this issue, and if you look close, you can see The Phantom Stranger is in attendance:
A few pages later, this painting everyone is concerned with explodes. Everyone ducks for cover, except for the Stranger, who stands there impassively:
...not even a giant flying letter E bothers The Phantom Stranger!