The Grant Williams Podcast Ep. 128 - Brent Johnson

The Grant Williams Podcast Ep. 128 - Brent Johnson

From The Grant Williams Podcast by Grant Williams

July 8, 2026 · 30 min · Season 1 · Episode 128

About this episode

Brent Johnson returns to discuss his dollar thesis and the global monetary system's dynamics.

In this episode of The Grant Williams Podcast, I welcome back Brent Johnson of Santiago Capital for a thoughtful and wide-ranging discussion built around Brent’s latest piece, The Band, and the evolution of his long-standing dollar thesis. What begins as an exploration of a simple framework for understanding the limits of dollar strength and weakness quickly expands into a deeper examination of the global monetary system and the unique role the dollar continues to play within it. Brent explains why dollar credit remains the lifeblood of global finance, how excessive moves in either direction create stress throughout the system, and why understanding those dynamics is essential for interpreting everything from emerging-market crises to sovereign debt, capital flows, and geopolitics. Along the way, we also explore how recent geopolitical events have altered global incentives, the growing tension between economic efficiency and national security, and what the next chapter of the international monetary order might look like. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts…

People in this episode

Host: Grant Williams

Guest: Brent Johnson

Topics covered

Keywords

Mentioned in this episode

Organizations: Santiago Capital

More episodes of The Grant Williams Podcast

Explore listener stats, chart rankings, contacts and more on the The Grant Williams Podcast podcast page.