What Does The Post-War Future Of The US Dollar Look Like? | Brent Johnson

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Apr 30, 2026

Brent Johnson, CEO of Santiago Capital and developer of the Dollar Milkshake Theory, is a macro investor focused on currency dynamics and geopolitics. He discusses whether the Iran conflict weakens or strengthens U.S. power and the dollar. He explores de-dollarization limits, Gulf states’ swap lines, great-power competition, and why money remains an instrument of state power.

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INSIGHT

US Power Still Converts Into Dollar Strength

The US remains the dominant military and strategic power despite criticisms calling it a paper tiger.
Brent Johnson argues US actions (air strikes, forcing policy shifts, staying in the Middle East) show capability and influence, not collapse.

INSIGHT

Currency Is An Instrument Of Power

Money functions as an instrument of national power, not merely a medium of exchange or store of value.
Brent emphasizes governments will not abandon fiat voluntarily because currency control equals policy flexibility and geopolitical leverage.

INSIGHT

Iran Action Fits A Broader China Containment Strategy

The Iran campaign was long planned and fits into a US strategy to limit China and secure energy leverage.
Brent links moves on Venezuela and Iran as coordinated steps to deny China energy sources and strengthen US bargaining power.

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Many think the war in Iran is weakening (some claim ruining) the prospects for the US generally and the dollar specifically.Others argue the exact opposite.So which is more likely?To make sense of it all for us, Brent Johnson, develop of the Dollar Milkshake Theory and CEO of Santiago Capital joined me today for a livestream.It was an extremely thoughtful discussion of not just where the dollar is likely headed, but also of the dynamics of global power.#dollar #iranwar #fiatcurrency _____________________________________________ 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.All the details on Thoughtful Money's relationship with the financial advisors it endorses, many of whom regularly appear on this program, can be found in the following documents. We highly recommend you review these documents as they cover the terms that will apply should you choose to work with one of these firms at any time after watching this video.Thoughtful Money Disclosure Document: https://thoughtfulmoney.com/wp-content/uploads/2023/12/Thoughtful-Money-Disclosure-Document-12.6.23.pdf?pid=227Thoughtful Money Agreement: https://thoughtfulmoney.com/wp-content/uploads/2024/11/Thoughtful-Money-Agreement-Agreement.docx?pid=227IMPORTANT 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.