On this episode of Blockworks’ podcast “On the Margin,” Michael Ippolito, Blockworks’ co-founder, is joined by Brent Johnson of Santiago Capital and Lawrence Lepard of Equity Management Associates.

Brent and Lawrence discuss Brent’s dollar milkshake theory and the negative effect a rising dollar could have on the global financial system looking ahead to 2022. Brent and Lawrence also share their thoughts on the long-term debt cycle, the bond market during financial repression, the current slow down in economic activity and inflation, and how to protect your portfolio.

They also covered:

  • China and Russia
  • What a return to sound money would look like
  • And so much more

Watch the full episode below! 👇

“On the Margin” is a two-part show. Once a week, Mike interviews industry experts, and then at the end of the week, he is joined by a co-host where they break down the top crypto and macro stories. Episodes go live every Wednesday and Saturday morning.

Subscribe to On the Margin today on Apple or Spotify, or watch episodes on YouTube.


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  • Blockworks
    Video Editor
    Brianna Beckford is a Florida-based editor mainly focused on digital assets and the crossroads between the virtual and physical. As a University of Florida grad in Art + Technology, she’s dabbled in writing and reporting with a focus on the growth of hypermediacy in the present day. She focuses on video and podcasting for Blockworks.