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Thoughtful Money with Adam Taggart
Debate On The US Dollar: Will It Soar Or Sink From Here? | Brent Johnson vs Matthew Piepenburg
Nov 21, 2023
Brent Johnson, CEO of Santiago Capital and Matthew Piepenburg, Commercial Director at Matterhorn Asset Management AG, engage in a "co-exploration" on the future of the US dollar. They discuss areas of agreement such as the sovereign debt spiral and the demand for US dollars. They also debate the impact of monetary policies, the role of the Federal Reserve, and potential consequences if the dollar loses control. The speakers explore the need for a new global monetary system and stress the importance of owning gold as a hedge against currency devaluation.
01:23:40
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Quick takeaways
- The impact of monetary policies, such as lowering interest rates and doing quantitative easing (QE), on currencies during recessions and the importance of a weaker currency in fighting a recession.
- The different viewpoints and predictions regarding the future path of the US dollar, including areas of agreement on a potential sovereign debt spiral and the demand for US dollars in the current economic landscape, but differing opinions on the strength or weakness of the dollar and actions during a crisis.
Deep dives
The Impact of Monetary Policies and Recessions on Currencies
The podcast discussion revolves around the impact of monetary policies, specifically lowering interest rates and doing quantitative easing (QE), on currencies during recessions. The main question raised is how Japan, China, and Europe would respond when facing a recession while the United States is implementing QE and the US dollar is appreciating. The discussion emphasizes the importance of a weaker currency in fighting a recession. However, it is acknowledged that countries like Japan, Europe, and China would not simply sit back with tighter monetary policies if the US dollar were to depreciate dramatically. The potential risks and consequences of currency fluctuations and the limitations of monetary policy as a solution are explored. The conversation also touches upon the Dollar Milkshake theory developed by Brent Johnson, which highlights how US dollars will be in high demand during a sovereign debt and currency crisis.
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Discover
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