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.

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This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fundhttps://grayscale.co/coindesk.

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.

Read also: Why a Strong Dollar Is Bad for the US and Bad for the World, Feat. Lyn Alden

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

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.