TransAtlantic TakeAway

Brent Johnson, John Butler & Gene Morris
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  • Investing

One question a week, argued from both sides, with no scoreboard. Brent Johnson of Santiago Capital and John Butler, author of The Golden Revolution Revisited, agree on more than you would expect and still reach different conclusions. Brent reads the world through the dollar pulling in global stress and holding its place at the top. John reads it through gold moving back toward the centre as the dollar order frays. Neither is trying to win. Each week they take one serious question (markets, geopolitics, the arguments that move capital) and put it under real pressure for thirty to sixty minutes. One subject taken seriously rather than five skimmed. Every episode closes on The Takeaway. A day or two after the argument, each of them records alone and blind, five to ten minutes, with his own recommended course of action. Not a joint conclusion, not a split-the-difference compromise. You get to watch where an honest argument actually leads two people who heard exactly the same thing. No running tally of who was right. Markets hand everybody a hot streak, usually just before the luck turns. You are here to think alongside two people who end up in different places. Produced by Gene Morris.

Episodes

  1. 5h ago

    Two Deficits That Decide Where Your Money Goes

    John Butler thinks the single most important number in the world is one almost nobody watches: the US current account deficit, chronic for two generations, the source of every dollar sloshing around the planet. The Austrian school taught him that what cannot go on forever will not. So why, if America is a chronic debtor, is the trade weighted dollar still historically strong? Brent Johnson has an answer, and it is not Butler's. This is the first outing for a show built on a simple premise: two men who agree on most of the diagnosis and reach opposite conclusions on what you should do about it. Butler, a former managing director at Lehman and Deutsche Bank, stays bullish precious metals through a huge bull market. Johnson, who ran a gold fund that failed and calls it one of the worst days of his life, argues the map itself is no longer fixed, and power now overrules the economic laws Butler trusts. They will not keep score. They think a tally just crowns whoever got lucky last. Net private US investment is running near zero. Foreigners hold roughly a third of the Treasury market and their appetite is waning. Where does that leave your savings. Press play and take both cases apart. Chapters 00:00 What the show is and what it is not 00:18 Three Americans, one transatlantic view 01:29 One question a week, argued in full 03:44 The Crossfire format and why it died 05:07 The takeaway and no scoreboard 07:07 Why Brent chose John 07:45 John Butler: Lehman, Deutsche, the Austrian turn 11:32 Brent Johnson: Wall Street, Santiago, the gold fund 16:04 The core disagreement: the twin deficits 20:32 Dollar strength and the milkshake theory 22:46 Brent: the map is no longer fixed 29:50 Power, recency bias and what comes next

    Two Deficits That Decide Where Your Money Goes
  • 1 Episode

About

One question a week, argued from both sides, with no scoreboard. Brent Johnson of Santiago Capital and John Butler, author of The Golden Revolution Revisited, agree on more than you would expect and still reach different conclusions. Brent reads the world through the dollar pulling in global stress and holding its place at the top. John reads it through gold moving back toward the centre as the dollar order frays. Neither is trying to win. Each week they take one serious question (markets, geopolitics, the arguments that move capital) and put it under real pressure for thirty to sixty minutes. One subject taken seriously rather than five skimmed. Every episode closes on The Takeaway. A day or two after the argument, each of them records alone and blind, five to ten minutes, with his own recommended course of action. Not a joint conclusion, not a split-the-difference compromise. You get to watch where an honest argument actually leads two people who heard exactly the same thing. No running tally of who was right. Markets hand everybody a hot streak, usually just before the luck turns. You are here to think alongside two people who end up in different places. Produced by Gene Morris.

Information

  • Creator
    Brent Johnson, John Butler & Gene Morris
  • Years Active
    2026
  • Episodes
    1
  • Rating
    Clean
  • Copyright
    © 2026 TransAtlantic TakeAway
  • Show Website
    TransAtlantic TakeAway