No One Alive Has Seen What's About to Happen to the Bond Market | Johnson & Dicker

Mentor Sessions EP 108: Brent Johnson & Keith Dicker on the Bond Market, the Dollar, Gold & the Next Money Rotation The rest of the world owes an estimated $110 trillion in US-dollar debt they can't print, and a rising dollar is what could force the defaults. Brent Johnson of Santiago Capital and Keith Dicker of IceCap Asset Management lay out why a strong dollar and higher Treasury yields can coexist, what actually causes de-dollarization, and how to position before the next liquidity shock. In this conversation you'll learn why Johnson reads October's sharp Treasury rally as a snapback after record-short positioning, why Dicker warns the bond market peak is behind us and bonds may be a brutal long-term hold, and why a falling dollar index is actually re-dollarization, not the collapse everyone expects. You'll see why both managers treat gold as portfolio insurance that gets sold first in a crisis, why energy could become the next crowded trade if the Middle East stays hot, and how a closer Fed-Treasury 'shotgun wedding' could reshape dollar policy as great-power competition heats up. You'll walk away with a concrete way to stress-test your exposure to bonds, equities, gold bullion, and cash against a range of outcomes. ⏱️ Timestamps: 0:00 - Intro 1:05 - October Treasury Rally And Dollar Strength 2:33 - Is The Bond Peak A Bear Trap? 4:36 - Why Higher US Rates Are Not Catastrophic 6:35 - Defining Inflation As Rising Prices 7:13 - Rising Yields And Dollar Strength Explained 9:08 - Global Government Debt Financing Crisis 11:07 - Will Sovereign Bond Markets Force Central Bank Intervention? 13:18 - Why Global Chaos Favors The United States 15:03 - The 110 Trillion Dollar Global Debt Problem 17:01 - What Could Actually Break The Dollar System 17:46 - Dollar Index As De-Dollarization Gauge 24:23 - Gold Bitcoin And Oil Underperforming Amid Chaos 27:05 - Iran Nuclear Risk And Market Signals 33:57 - Gold As Portfolio Insurance And Core Holding 37:29 - Energy As The Next Market Euphoria Trade 39:13 - Expecting A Tech And AI Correction 42:25 - Prepare For A Crash Instead Of Waiting 47:29 - Canada US Economic Ties And Energy Exports 52:45 - The Fed Treasury Shotgun Wedding Thesis 58:06 - Will America First Survive The Next Administration? 1:02:23 - Year End Outlook Be Prepared For Everything 🔗 Links & Resources: → Brent Johnson / Santiago Capital: https://santiagocapital.com → Follow Brent on X: https://x.com/SantiagoAuFund → Brent Johnson on YouTube: https://www.youtube.com/@MilkshakesPod → TransAtlantic TakeAway (Brent Johnson & John Butler): https://www.transatlantictakeaway.com → Keith Dicker / IceCap Asset Management: https://icecapassetmanagement.com → Follow IceCap on X: https://x.com/IceCapGlobal → The Loonie Hour (Keith Dicker): https://www.looniehour.ca ⚡Previous Episode: Brandon Quittem & Walker America: https://youtu.be/Lci53xJgAFw 🔔 Subscribe for weekly Bitcoin Podcasts 🐦 Follow on X: https://x.com/BTCSessions 🐦 Follow on X: https://x.com/theBTCmentor ⚡Casa MultiSig & Inheritance: https://casa.io/sessions 10% Off First Year Promo Code SESSIONS ⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088 ⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB ⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOIN https://qrco.de/bfiDC6 💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #BondMarket #BrentJohnson #KeithDicker #MentorSessions #BTCSessions #Bitcoin #SovereignDebt #TreasuryYields #USDollar #DollarMilkshake #DeDollarization #GlobalDebt #FederalReserve #InterestRates #StockMarketCrash #MarketCorrection #EnergyStocks #SectorRotation #GoldInvesting #SantiagoCapital #IceCapAssetManagement #MarketVolatility