The Money MBA Podcast welcomes Brent Johnson of Santiago Capital back to the show for his second appearance, and the Money MBA’s first repeat guest.

To check out the first interview, and to go deeper into Brent’s “Dollar Milkshake Theory” which is foundational for what we discuss in this podcast, visit

Brent is a valuable contributor to the finance space as he has the guts to share his views openly and confidently. Although what I respect about Brent is he doesn’t do it arrogantly.

Yes, he is good at playing the antagonist in various Twitter conversations, but he’s also the first to admit he doesn’t have a crystal ball.

Brent, just like everyone else, is living in a world of infinite outcomes, and as a fiduciary his job is not to get married to a dogma, but to position his clients to take advantage of the outcomes with the highest probability.

For Brent, that highest probability outcome is betting on a higher dollar before it’s ultimate demise.

To paraphrase, a weaker dollar is exactly what the world wants, however a stronger dollar is what will ultimately be its undoing, but even then it won’t give up the throne of global reserve currency without a “fight”.

This of course is all part his Dollar Milkshake Theory, so we get some updates on that view and dive deeper into where the current narratives about inflation and “money printer go brrrr” have got it wrong.

Visit for access to a video recording of the interview and detailed show notes

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Originally recorded February 09, 2021


Guest Name:
Brent Johnson

Professional Experience:
Santiago Capital

Social Media:
Twitter: @SantiagoAuFund


Host Name:
Jon Kutsmeda

Professional Experience:
Jon Kutsmeda .com

Best Mortgage Rate .com

Money MBA Podcast

Social Media:
Twitter: @JonKutsmeda

Instagram: @JonKutsmeda

Facebook: @JonKutsmeda

YouTube: @JonKutsmeda


  • 0:38 – Introducing the Brent 2.0 show

  • 3:06 – FYI – We livestreamed the podcast on Clubhouse

  • 5:09 – Quick recap of the “Dollar Milkshake Theory”


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