Brent Johnson

Brent Johnson

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CEO, Santiago Capital; known for “Dollar Milkshake” FX thesis; USD and global liquidity.

Europeans Face Extended Home Stays Amid Restrictions
SocialApr 19, 2026

Europeans Face Extended Home Stays Amid Restrictions

There’s going to be a lot of Europeans staying at home…one way or the other

By Brent Johnson
Iran's Decentralized Leadership Fuels Mixed Signals, Byzantine Problem
SocialApr 18, 2026

Iran's Decentralized Leadership Fuels Mixed Signals, Byzantine Problem

One of the reasons we keep getting mixed messages regarding Iran is bc Iran’s leadership was decentralized as a strategic defense. It’s worked to some extent. But it also means they don’t have a unified message and are arguing internally....

By Brent Johnson
True Debate Survives Only Over Dinner With Friends
SocialApr 16, 2026

True Debate Survives Only Over Dinner With Friends

Sharing the "Think" section from this weeks release of "Think, Laugh, Cry" below... THINK Once a month, three of us sit down to dinner. We eat well. We drink a little. And then we argue. Not argue the way social media argues. Not...

By Brent Johnson
Missing Protection at Market Peaks Leads to Regret
SocialApr 16, 2026

Missing Protection at Market Peaks Leads to Regret

Remember 3 weeks ago when you were mad at yourself for not buying protection/insurance when markets were at their all time highs and the vix was in the teens...? https://t.co/xBbSHvbDuL

By Brent Johnson
Retail Adoption of Dollar Stablecoins Fuels Hyper‑Dollarization
SocialApr 15, 2026

Retail Adoption of Dollar Stablecoins Fuels Hyper‑Dollarization

It will be foreign sovereigns seeking to de-dollarize while their citizens seek to dollarize. place your bets...

By Brent Johnson
US Might Use Goldfinger‑Style Tactics on Iranian Energy
SocialApr 10, 2026

US Might Use Goldfinger‑Style Tactics on Iranian Energy

How many have considered the US could employ a modified Goldfinger strategy as it relates Iranian energy…?

By Brent Johnson
Broaden View: Compare Foreign Holdings Across All Sovereigns
SocialApr 9, 2026

Broaden View: Compare Foreign Holdings Across All Sovereigns

If you routinely post a chart of the foreign holdings of US Treasuries but never post a chart of the foreign holdings of other global Sovereigns, you are missing the forest for the trees. https://t.co/GMjr60j0dV

By Brent Johnson
Trump, Rutte May Bring Up Greenland in Talks
SocialApr 8, 2026

Trump, Rutte May Bring Up Greenland in Talks

In addition to US bases in Europe...You think maybe...just maybe...Greenland might be on the list of topics for Trump and Rutte to discuss today?

By Brent Johnson
Future Impacts Already Set Despite Strait Reopening
SocialApr 8, 2026

Future Impacts Already Set Despite Strait Reopening

Even if the Strait fully opens and stays open…the ramifications 6-9 months down the road are already baked in. https://t.co/wlXmGv0rls

By Brent Johnson
NYC’s Financial Hub Likely to Relocate to Texas
SocialApr 6, 2026

NYC’s Financial Hub Likely to Relocate to Texas

If and when the end of this Fourth Turning comes, and the Financial Capital of the World leaves NYC, it is more likely to end up moving to Texas than somewhere in Asia. https://t.co/CrIB1ON3YH

By Brent Johnson
Excited for Lyn Alden's Sci‑Fi Take on Imperial Credits
SocialApr 6, 2026

Excited for Lyn Alden's Sci‑Fi Take on Imperial Credits

Looking forward to reading this Sci Fi release by ⁦@LynAldenContact⁩ Especially the parts related to Imperial Credits…😅 https://t.co/DV7HOaIKLB

By Brent Johnson
Debt to Ourselves Just Excuses Unlimited Money Printing
SocialApr 5, 2026

Debt to Ourselves Just Excuses Unlimited Money Printing

When an argument is made that "Our debt doesn't matter because we owe it to ourselves"...that is code for "we can print the money and just debase the currency"...

By Brent Johnson
Stop Overthinking; Your Long Twitter Rant Isn’t Unique
SocialApr 4, 2026

Stop Overthinking; Your Long Twitter Rant Isn’t Unique

If u are 5 pages deep into a piece you are planning to post on twitter detailing why the US & USD are about to fail bc the Pentagon doesn't realize Iran has mountains & air craft carriers are obsolete,...

By Brent Johnson
Double Standards: Putin's Pretext vs US Invasion Claims
SocialApr 3, 2026

Double Standards: Putin's Pretext vs US Invasion Claims

Apparently Putin was justified in invading Ukraine bc of something “NATO might some day do” even though NATO never threatened to do it… But the U.S. was not justified in invading Iran bc of something “they might some day do” even...

By Brent Johnson
Brent Johnson | Pulse