Know Your Risk Podcast Brent Johnson - Santiago Capital
Jun 17, 2025
Brent Johnson, CEO of Santiago Capital and renowned for his dollar milkshake theory, shares his insights on the complexities of the dollar. He discusses the recent volatile journey of the dollar, its effects on global markets, and implications for emerging economies. The conversation emphasizes the importance of gold as a safe asset in uncertain times and examines how the COVID pandemic has transformed monetary policies. Brent also offers strategic investment insights, highlighting the need for adaptability amidst shifting economic dynamics.
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Dollar Rally and Rising Yields
- A dollar rally could coincide with rising long-term interest rates and bond sell-offs.
- Higher U.S. Treasury yields pose global challenges, tightening financing costs worldwide.
Sovereign Debt Crisis Signs
- Rapid rate hikes in 2022 triggered economic pain in Europe and Japan.
- A sovereign debt crisis would entail currency pegs breaking, emerging market distress, and social unrest.
Own Gold for Stability
- Own gold as a core portfolio component regardless of price fluctuations.
- Gold provides permanence and protection against monetary system risks.