{"id":2175,"date":"2023-06-26T05:04:05","date_gmt":"2023-06-26T05:04:05","guid":{"rendered":"https:\/\/prendergast.net\/?p=2175"},"modified":"2023-06-26T05:04:05","modified_gmt":"2023-06-26T05:04:05","slug":"gold-will-rise-with-dollar-as-violent-global-debt-crisis-unfolds-de-dollarization-will-take-at-least-a-decade-brent-johnson","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=2175","title":{"rendered":"Gold will rise with dollar as &#8216;violent&#8217; global debt crisis unfolds de-dollarization will take at least a decade &#8211; Brent Johnson"},"content":{"rendered":"<div id='post-thumb'><img alt='' src='https:\/\/markethive.com\/uploads\/david-ogden\/images\/blog_366522.gif' style='height:1px; width:1px' \/><\/div>\n<h1><span style=\"font-size:18pt\"><strong>Gold will rise with dollar as &#39;violent&#39; global debt crisis unfolds, de-dollarization will take at least a decade &#8211; Brent Johnson<\/strong><\/span><\/h1>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"329\" src=\"https:\/\/www.youtube.com\/embed\/Qq4j3PWNF4U\" title=\"Dollar to spike in violent global debt crisis, de-dollarisation at least 10 yrs away - Brent Johnson\" width=\"720\"><\/iframe><\/p>\n<p>The dollar will gain strength relative to other currencies, along with gold, as a &quot;violent&quot; global debt crisis unfolds. That is according to Brent Johnson, Founder and CEO of Santiago Capital.<\/p>\n<p>Johnson, who created the Dollar Milkshake Theory, said that &quot;there is no alternative to the dollar&quot; when it comes to international trade and debt agreements.<\/p>\n<p>&quot;I think that in that scenario [a global sovereign debt crisis], despite all the protestations to the contrary&hellip; the dollar will be seen as the cleanest dirty shirt,&quot; he told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News. &quot;Investors and entities around the world will seek out dollars as a safe haven in that environment.&quot;<\/p>\n<p>Johnson said that a global sovereign debt crisis is highly likely given &quot;the growth of debt in the world,&quot; and the aftermath of a credit crunch.<\/p>\n<p>He claimed that the combination of low global economic growth, high interest rates, significant debt burdens, and high inflation could trigger the crisis.<\/p>\n<p>&quot;Once a credit contraction takes place, then it can feed on itself, and you can get into a situation like we had in 2008,&quot; he suggested.<\/p>\n<p>To find out when Johnson forecasts the global sovereign debt crisis taking place, watch the video above.<\/p>\n<p>De-dollarization<\/p>\n<p>The dollar&#39;s share in global reserves has fallen from 73 percent in 2001 to 58 percent today, according to the Royal Bank of Canada.<\/p>\n<p>The trend toward de-dollarization is compounded by the BRICS alliance (Brazil, Russia, India, China, and South Africa), which is meeting in South Africa this August to unveil plans for a reserve asset to rival the dollar.<\/p>\n<p>The Western response to Russia&#39;s invasion of Ukraine in 2022, which included banning Russia from the SWIFT international payments system, caused chills around the world. Many feared the &quot;weaponization of the dollar,&quot; following these sanctions.<\/p>\n<p>Although he agreed that there is a trend toward de-dollarization, Johnson forecast that it would take &quot;at least&quot; ten years for it to play out completely.<\/p>\n<p>&quot;I am not of the belief that the dollar gets inflated away and the dollar index falls versus foreign fiat currencies, and we go into a hyperinflation and the rest of the currencies stay strong,&quot; said Johnson.<\/p>\n<p>He added that although foreign political leaders would seek to de-dollarize and negotiate bilateral trade agreements, there would be &quot;pushback&quot; from business leaders.<\/p>\n<p>&quot;Most of them [businessmen] want to be paid in dollars,&quot; he observed. &quot;The dollar&#39;s purchasing power is better than the Brazilian real&#39;s purchasing power, or the Kenyan shilling&#39;s purchasing power, or the Turkish lira&#39;s.&quot;<\/p>\n<p>Gold<\/p>\n<p>As the dollar rises against other currencies, so will gold, according to Johnson.<\/p>\n<p>&quot;I think the dollar is going to get so strong that it wrecks the current [global monetary] system,&quot; Johnson predicted. &quot;As the dollar rises, and the system comes under threat, and we have all this chaos and a new monetary system is proposed, gold will be trading at $5,000 or $8,000&hellip; Gold will go much higher as this chaos ensues.&quot;<\/p>\n<p>To find out whether Johnson is adding more gold to his portfolio, watch the video above.<\/p>\n<p><img alt=\"\" src=\"https:\/\/markethive.com\/uploads\/david-ogden\/images\/posted-images\/David-Hunter.gif\" style=\"height:189px; width:300px\" \/>&nbsp; Gold will reach $3k in market &#39;melt up&#39; with S&amp;P 500 up at least 36% by Q4 2023 &#8211; David Hunter<\/p>\n<p>By<\/p>\n<p>Cornelius Christian<\/p>\n<p>For Kitco News<\/p>\n<p><span style=\"color:#000080\"><span style=\"font-family:Tahoma\"><span style=\"font-size:medium\"><u><a href=\"https:\/\/kms.kinesis.money\/signup?referrer=KM13461268\" style=\"color:#000080; text-decoration:underline\">Time to Buy Gold and Silver<\/a><\/u><\/span><\/span><\/span><\/p>\n<p><\/p>\n<p>Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold will rise with dollar as &#39;violent&#39; global debt crisis unfolds, de-dollarization will take at least a decade &#8211; Brent Johnson The dollar will gain strength relative to other currencies, along with gold, as a &quot;violent&quot; global debt crisis unfolds. That is according to Brent Johnson, Founder and CEO of Santiago Capital. Johnson, who created &hellip; <a href=\"https:\/\/prendergast.net\/?p=2175\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Gold will rise with dollar as &#8216;violent&#8217; global debt crisis unfolds de-dollarization will take at least a decade &#8211; Brent Johnson<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[290,291],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2175"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2175"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2175\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}