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------ 52 - The Crypto Milkshake Theory
Guest: Brent Johnson
Brent Johnson, known for his “Dollar Milkshake Theory,” is a macro-focused wealth manager. We discuss crypto from his broad perspective, focusing on the Federal Reserve, the Dollar, and our take on his ideas – The Crypto Milkshake Theory.
We observed the Federal Reserve coming into the limelight in the past year, with increased attention on Jerome Powell and other central bankers as they become more like players than referees.
Brent lays out how our system (and all fiat currencies) are built for exponential growth. An exponentially growing market will be increasingly susceptible to larger and more frequent volatility. This calls for stronger central bank action, which accelerates these fundamental issues.
Interestingly, Brent believes in the strength of the Dollar (at least in the short-term), expecting it to be the last fiat currency to get knocked out. The COVID-19 Crash in March 2020 was an example of this deflationary volatility, and Brent views the system’s current narrative as ripe for another market crash and dollar bull run.
On the crypto side of things, Brent sees assets like BTC as a valid store of value, and the advantages of non-sovereign wealth stores merit serious consideration. His concerns about the space involve the difficulties of using crypto as money and the power of governments to curb blockchain use. However, blockchain technology is a “genie out of the bottle” and is here to stay.
------ Brent on Twitter https://twitter.com/SantiagoAuFund?s=2
Brent's Presentation on The Dollar Milkshake Theory https://youtu.be/2qTOWuL7Zco ------ Don't stop at the video!
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