We Study Billionaires - The Investor’s Podcast Network TIP449: Why the Dollar is the Strengthening to 20 Year Highs W/ Brent Johnson
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May 20, 2022 
Brent Johnson, founder of Santiago Capital and creator of the 'Dollar Milkshake Theory,' shares his insights on the strengthening dollar and global finance. He explains why holding US assets is a strategic advantage and discusses the alarming drop of the Japanese Yen to 40-year lows. Brent highlights how high energy costs amplify economic challenges and warns of the worst-case scenario of stagflation. He also evaluates the performance of precious metals, offering fresh perspectives for investors navigating today's complex financial landscape.
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Disagreements with Luke Gromen
- Brent Johnson agrees with Luke Gromen on many things, but their public discussions focus on disagreements.
- Johnson views Gromen's predictions as possibilities, while others interpret them as high-probability events.
US Decline Narrative
- Many believe in a romantic notion of the US declining while the rest of the world thrives.
- Johnson believes this is completely wrong and that the decline will be different and slower.
Dollar Milkshake Theory
- The dollar milkshake theory posits that debt will matter again due to capital flows.
- These flows, driven by rising US interest rates, will deprive other markets of liquidity.