đ The Crypto Milkshake Theory | Brent Johnson
Brent Johnson, known for his âDollar Milkshake Theory,â comes on the podcast to discuss the markets from his macro perspective.
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Brent Johnson, known for his âDollar Milkshake Theory,â is a macro-focused wealth manager. We discuss the markets from his broad perspective, focusing on the Federal Reserve, the Dollar, and our take on his ideas â The Crypto Milkshake Theory.
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đď¸The Crypto Milkshake Theory
Guest: Brent Johnson
February 15th, 2021
We observed the Federal Reserve coming into the limelight in 2020, with increased attention on Jerome Powell and other central bankers as they become more like players than referees.
Brent lays out how our current system (and all fiat currencies) are inherently built for exponential growth. An exponentially growing market will be increasingly susceptible to larger and more frequent volatility. This calls for stronger central bank action, which accelerates these fundamental issues.
Interestingly, Brent believes in the strength of the Dollar (at least in the short-term), expecting it to be the last fiat currency to get knocked out. The COVID-19 Crash in March 2020 was an example of this deflationary volatility, and Brent views the current narrative in the markets as ripe for another market crash and dollar bull run.
On the crypto side of things, Brent sees assets like BTC as a valid store of value, and the advantages of non-sovereign wealth stores merit serious consideration. His concerns about the space involve the difficulties of using crypto as money and the power of governments to curb blockchain use. However, blockchain technology is a âgenie out of the bottleâ and is here to stay.
Relevant Links:
Brentâs Presentation on The Dollar Milkshake Theory
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