They’re Not Saving the Republic, They’re Building Fortress North America | Brent Johnson

<p>Mentor Sessions Ep 094: Brent Johnson explains the 2026 dollar outlook, the collapse of the rules-based order, Bessent&#39;s Treasury moves, and how AI and stablecoins entrench the US dollar.</p><p><br></p><p>The rules-based order that kept markets stable for 80 years is dying - and Brent Johnson explains what replaces it, why the US dollar gets STRONGER not weaker, and how AI and stablecoins entrench American power for decades.</p><p><br></p><p>Brent Johnson (Santiago Capital, Dollar Milkshake Theory) sits down for a wide-ranging conversation on the biggest structural shift in markets since World War Two. You&#39;ll learn why he thinks the American Republic could give way to an American empire, why Scott Bessent&#39;s Treasury buybacks matter more than the headlines suggest, and how passive management can turn a bond wobble into a full crisis. You&#39;ll see why he&#39;s concentrated in North America and the Western Hemisphere, why he calls the US-China relationship a &quot;divorce,&quot; and why he refuses to bet against the US Treasury even as others call for the dollar&#39;s death. He also breaks down why AI is now a matter of national security, why stablecoins are structurally bullish for the dollar, and where Bitcoin fits in the emerging digital-asset order.</p><p><br></p><p>⏱️ Timestamps:</p><p>0:00 - Intro</p><p>1:17 - Iran War and Dollar System Resilience</p><p>4:10 - Iran Conflict Pressure on Treasury Yields</p><p>5:41 - Rising Yields Create Global Collateral Strain</p><p>8:25 - Bessent Long-End Buybacks Explained</p><p>10:20 - Mike Green on Passive Bond Risks</p><p>11:48 - Rules-Based Order Has Ended</p><p>13:39 - Shift to America First Proactive Policy</p><p>17:31 - Signs the Rules-Based Order Is Dying</p><p>18:27 - Vance and Rubio Munich Security Speeches</p><p>21:41 - China Also Wants Strategic Divorce</p><p>23:26 - Multipolar World or US Remains Dominant</p><p>24:44 - American Republic Falls Into Empire</p><p>27:00 - Republic Versus Empire and Authoritarianism</p><p>31:07 - Positioning Portfolios Amid Geopolitical Chaos</p><p>33:28 - Building Fortress North America Strategy</p><p>35:19 - Canada US Relationship Realities</p><p>39:41 - Energy Trade War Leverage Analysis</p><p>44:16 - Bessent Druckenmiller Soros Trading Lineage</p><p>48:51 - Market Outlook Violently Sideways Year End</p><p>53:01 - AI Now National Security Priority</p><p>57:02 - AI Short Term Employment Risks</p><p>58:06 - Stablecoins Strengthen US Dollar Position</p><p>59:31 - Bitcoin Role Alongside Stablecoins</p><p>1:01:57 - Global Institutions Must Adapt Next</p><p><br></p><p>Brent Johnson&#39;s written research and weekly show &quot;Milkshakes, Markets and Madness&quot; are at Santiago Capital - links below.</p><p><br></p><p>🔗 Links &amp; Resources:</p><p>• Santiago Capital research: https://research.santiagocapital.com/</p><p>• Brent Johnson on X: https://x.com/SantiagoAuFund</p><p><br></p><p>⚡Previous Episode:</p><p>Luke Gromen &amp; Lyn Alden: https://youtu.be/xoAuuJyBg6E</p><p><br></p><p>🔔 Subscribe for weekly Bitcoin Podcasts</p><p>🐦 Follow on X: https://x.com/BTCSessions</p><p>🐦 Follow on X: https://x.com/theBTCmentor</p><p><br></p><p>⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1</p><p><br></p><p>⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB</p><p><br></p><p>⚡ Sponsored by BITCOIN WELL: Best Place to BUY &amp; SELL BITCOIN</p><p>https://qrco.de/bfiDC6</p><p><br></p><p>💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more.</p><p> 👉 Visit btcmentor.io </p><p><br></p><p>#AmericanEmpire #FortressNorthAmerica #FortressAmerica #RulesBasedOrder #BrentJohnson #DollarMilkshake #SantiagoCapital #USDollar #USD #ReserveCurrency #TreasuryMarket #Gold #Bitcoin #DigitalAssets #Stablecoins #Geopolitics #Hegemony #China #MacroEconomics #CapitalFlows