Portfolio Positioning for Geopolitical Chaos

Mentor Sessions Ep 094: Brent Johnson explains the 2026 dollar outlook, the collapse of the rules-based order, Bessent's Treasury moves, and how AI and stablecoins entrench the US dollar.

The rules-based order that kept markets stable for 80 years is dying - and Brent Johnson explains what replaces it, why the US dollar gets STRONGER not weaker, and how AI and stablecoins entrench American power for decades.

Brent Johnson (Santiago Capital, Dollar Milkshake Theory) sits down for a wide-ranging conversation on the biggest structural shift in markets since World War Two. You'll learn why he thinks the American Republic could give way to an American empire, why Scott Bessent's Treasury buybacks matter more than the headlines suggest, and how passive management can turn a bond wobble into a full crisis. You'll see why he's concentrated in North America and the Western Hemisphere, why he calls the US-China relationship a "divorce," and why he refuses to bet against the US Treasury even as others call for the dollar's death. He also breaks down why AI is now a matter of national security, why stablecoins are structurally bullish for the dollar, and where Bitcoin fits in the emerging digital-asset order.

⏱️ Timestamps:

0:00 - Intro

1:17 - Iran War and Dollar System Resilience

4:10 - Iran Conflict Pressure on Treasury Yields

5:41 - Rising Yields Create Global Collateral Strain

8:25 - Bessent Long-End Buybacks Explained

10:20 - Mike Green on Passive Bond Risks

11:48 - Rules-Based Order Has Ended

13:39 - Shift to America First Proactive Policy

17:31 - Signs the Rules-Based Order Is Dying

18:27 - Vance and Rubio Munich Security Speeches

21:41 - China Also Wants Strategic Divorce

23:26 - Multipolar World or US Remains Dominant

24:44 - American Republic Falls Into Empire

27:00 - Republic Versus Empire and Authoritarianism

31:07 - Positioning Portfolios Amid Geopolitical Chaos

33:28 - Building Fortress North America Strategy

35:19 - Canada US Relationship Realities

39:41 - Energy Trade War Leverage Analysis

44:16 - Bessent Druckenmiller Soros Trading Lineage

48:51 - Market Outlook Violently Sideways Year End

53:01 - AI Now National Security Priority

57:02 - AI Short Term Employment Risks

58:06 - Stablecoins Strengthen US Dollar Position

59:31 - Bitcoin Role Alongside Stablecoins

1:01:57 - Global Institutions Must Adapt Next

Brent Johnson's written research and weekly show "Milkshakes, Markets and Madness" are at Santiago Capital - links below.

🔗 Links & Resources:

• Santiago Capital research: https://research.santiagocapital.com/

• Brent Johnson on X: https://x.com/SantiagoAuFund

⚡Previous Episode:

Luke Gromen & Lyn Alden: https://youtu.be/xoAuuJyBg6E

🔔 Subscribe for weekly Bitcoin Podcasts

🐦 Follow on X: https://x.com/BTCSessions

🐦 Follow on X: https://x.com/theBTCmentor

⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1

⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB

⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOIN

https://qrco.de/bfiDC6

💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more.

👉 Visit btcmentor.io

#AmericanEmpire #FortressNorthAmerica #FortressAmerica #RulesBasedOrder #BrentJohnson #DollarMilkshake #SantiagoCapital #USDollar #USD #ReserveCurrency #TreasuryMarket #Gold #Bitcoin #DigitalAssets #Stablecoins #Geopolitics #Hegemony #China #MacroEconomics #CapitalFlows #Multipolar #ScottBessent #AINationalSecurity #BTCSessions