Brent Johnson Milkshakes Pod, Released on 2/15/26

Headlines are circulating suggesting that Russia has quietly explored the possibility of rejoining the U.S. dollar settlement system. Whether those reports are accurate, overstated, or simply trial balloons is unclear. In this episode, we don’t pretend to know what’s happening behind closed doors — but we do examine why such overtures, if real, would matter. We break down the strategic incentives that could motivate Moscow to reengage with the dollar system and why even the rumor of it tells us something important about how power still flows through the international financial architecture.

Brent Johnson is the CEO of Santiago Capital and publisher of The Macro Alchemist. Brent brings twenty five years of experience in the financial markets to his position as CEO of Santiago Capital where he manages the portfolios of high net worth individuals and families via separate accounts and private funds. Brent worked more than nine years as a Managing Director at BakerAvenue, a $2 Billion Asset Manager and Wealth Management firm. Before joining BakerAvenue, Brent spent nine years at Credit Suisse in their private client group. He joined Credit Suisse in the fall of 2000. Earlier in his career, Brent was a financial auditor for Philip Morris Management Company in New York City.

  BRICS, dollar, russia