Thoughtful Money with Adam Taggart Stablecoin Revolution To Make The Dollar More Dominant Than Ever? | Brent Johnson
30 snips
Nov 6, 2025 
Brent Johnson, the creator of the Dollar Milkshake Theory, dives into the future of USD stablecoins and their potential to reshape global finance. He explains how these digital tokens could stabilize transactions, alleviate volatility, and attract foreign investment, especially in unstable economies. Brent argues that the rise of stablecoins might reinforce dollar dominance, serving as a tool for geopolitical control. Plus, he discusses potential repercussions, the role of traditional banks, and why holding gold could be a smart hedge.
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What A Stablecoin Actually Is
- A stablecoin is a digital token meant to track a specific asset, like the US dollar, enabling instant global settlement without needing a bank.
- Brent Johnson frames a U.S. dollar stablecoin as a digital dollar that preserves value relative to the dollar rather than seeking appreciation.
Treasury Support Is A Secondary Benefit
- Stablecoins buying short-term Treasuries can act as marginal buyers and ease Treasury issuance pressure, but that's a secondary benefit.
- Brent Johnson believes the strategic monetary role of stablecoins goes far beyond merely absorbing T-bill issuance.
De-Dollarization Is Overstated
- De-dollarization has been overstated; the global system remains deeply dollarized via the eurodollar market.
- Johnson argues stablecoins can accelerate re-dollarization by making dollar usage cheaper and more pervasive globally.
