BREAKDOWN: The Geopolitical Implications of a Too-Strong Dollar, Feat. Brent Johnson

A macro expert joins to discuss why the U.S. dollar and economy are more broadly poised to suck the liquidity from the entire global economy.

This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fund.

You know the meme: Money printer go brrr. It means inflation right?

Not necessarily, says Brent Johnson. Since 2016-2017, Johnson has been arguing the big economic issue of our time isn’t inflation of the U.S. dollar due to excess money printing, but the havoc caused by a global system where the dollar keeps getting stronger and sucks up liquidity from the rest of the world.

As the dollar has strengthened over the COVID-19 crisis, his ideas look more prescient than ever. In this conversation with NLW, Johnson discusses:

• What the “Dollar Milkshake Theory” is
• Why the implications of the theory stress him out, even though he created it
• Why everything is relative and no asset can be analyzed in a vacuum
• Why we could see the dollar, bitcoin and gold rise at the same time
• Why we can’t discuss macroeconomics without discussing geopolitics and even the military