The Most Important Monetary Development Since The End Of The Gold Standard? | Brent Johnson

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Feb 24, 2026

Brent Johnson, investor and author behind the Dollar Milkshake Theory and stablecoin research at Santiago Capital, explains why stablecoins could reshape the global monetary order. He discusses how they tokenize dollars, the race between banks, tech and foreign issuers, risks to bank funding, onshore vs offshore dynamics, and the geopolitical stakes of dollarized digital money.

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ANECDOTE

How The Genius Act Triggered Brent's Stablecoin Epiphany

Brent admits he initially dismissed stablecoins until the Genius Act forced a second look and changed his view.
He credits the Genius Act and recent public endorsements by U.S. officials for triggering his epiphany about systemic scale.

ADVICE

Position For Consolidation By Owning Base Layer Exposure

Expect consolidation: a handful of stablecoins and platform coins will likely dominate after many failures.
Johnson suggests Ethereum exposure can be a base-layer way to participate because many stablecoins run on it.

INSIGHT

Stablecoins Tokenize Existing Treasuries Not Create New Money

Stablecoins today are generally tokenized existing U.S. assets rather than creating new money, though they could become collateral for new credit.
Johnson notes the risk that some issuers (e.g., Tether historically) may not be fully reserved, creating systemic risk.

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REGISTER FOR THOUGHTFUL MONEY'S SPRING ONLINE CONFERENCE AT THE EARLY BIRD DISCOUNT PRICE at https://www.thoughtfulmoney.com/conferenceDollar Milkshake Theory developer Brent Johnson has released another report on stablecoins, emphasizing their tremendous potential to upend the global monetary system.He's shouting loudly about this because he sees most of Wall Street vastly unprepared for what's about to happen.It's largely treating stablecoins as a niche amusement, instead of the Omega-level disruptor Brent thinks it will prove to be.In fact, he thinks stablecoins will impact the global monetary order on the same level as the Bretton Woods accord, or when the dollar moved off the gold standard.To learn why, and what the implications will likely be, watch this video.#stablecoin #stablecoins #dollar _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It’s important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer’s unique goals, needs & risk tolerance.IMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2026 Thoughtful Money LLC. All rights reserved.