Francis Hunt vs Brent Johnson - Debate on Dollar Milkshake Theory & Monetary Endgame

Macroscopic Podcast · Sep 13, 2026 · 1h 10m

Brent Johnson and Francis Hunt go head-to-head over the future of the US dollar and the Dollar Milkshake Theory. Hunt argues that rising Treasury yields increasingly reflect a loss of confidence in US debt, driving capital toward gold, commodities and eventually away from the dollar. Johnson pushes back: dollar strength was never the end goal of the theory, but a catalyst for a broader sovereign debt and currency crisis. The debate gets into US debt, bond markets, dollar reserve status, gold, silver, capital flows and whether the final monetary reset comes through a stronger dollar or through…