MacroVoices Erik Townsend &amp; Patrick Ceresna welcome Brent Johnson. They discuss the dollar’s recent strength and Johnson’s longer-term bullish outlook, while allowing for a short-term pullback. They consider gold’s support level and the possibility of further declines if the dollar rises, alongside Johnson’s view that the current area could be a buying opportunity. Johnson also outlines his thesis that the Fed and Treasury may work more closely together, including the theoretical possibility of revaluing U.S. gold holdings. https://bit.ly/3Wg8EjB ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX 🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna 🔴 Subscribe to Erik&#x27;s Substack: https://eriktownsend.substack.com/

MacroVoices #553 Brent Johnson: Disparate Housewives

Macro Voices

I've been doing this for 26 years now, and for 25 of the 26 years, I've been hearing that the Fed is out of bullets. And my point to people is that they have a lot more bullets than you can possibly imagine. That was Santiago Capital founder Brent Johnson. I'm Erik Townsend, and this is Macro Voices, the free weekly podcast targeting professional finance and sophisticated private investors. Episode 553 was produced on October 8th, 2026.

Brent Johnson has been the lone voice calling for a higher dollar index, while most of his peers were dollar bears. With the Dixie closing above 102 on Wednesday afternoon, we were long overdue to get Brent back on the program. And Brent just released a paywalled research report titled Disparate Housewives, an analogy to the apparent marriage of the Fed and Treasury Department. That is behind a paywall, but we were able to persuade Brent to let us share at least the

executive summary with you, and that's linked in your research roundup email. We'll discuss all of that, plus gold, the formative cold war with China, and much more in this week's feature interview. And I'm Patrick Ceresna. Let's dive into this interview. Brent prepared a slide deck to accompany this week's interview, and I strongly encourage you to download it. Registered users will find it in your research roundup email, or you can just go to our homepage, macrovoices.com. Look for the red button above Brent's picture that says looking for the downloads.

Brent, it's great to get you back on. I want to start with the reason I brought you back on, which is, boy, all of us smart guys don't listen to that crazy nutcase, Brent Johnson.

MacroVoices #553 Brent Johnson: Disparate Housewives

Read the full transcript

The candid version is on a podcast,
not the earnings call.

MacroVoices #553 Brent Johnson: Disparate Housewives

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.