Macro research on Capital Markets, Geopolitics & the Madness of Crowds — all through the lens of the Dollar Milkshake Theory. By Brent Johnson.
| Platform |  | Pricing | Freemium | Publishes | Daily |
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| Issues | 218 | Founded | 2 years ago | Last Issue | 4 days ago |
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research.santiagocapital.comLatest Issues
Think, Laugh, Cry #47
Tens of thousands of foreign soccer fans descended on America expecting hostility and found Waffle House, Buc-ee's, and Walmart instead
THINK A German soccer fan named Freddy walked into a Waffle House at one in the morning somewhere in th...
The Gutted Arsenal
The US-Iran MOU is a ceasefire, not a resolution. Iran held the strait, but the cost of victory tells you who is still on top.
The memorandum of understanding between the United States and Iran was signed this week, and within hours the ve...
Macro Pilgrim's Ledger | June 21, 2026
Markets massaged the impact of the signing of a Middle East MOU & Warsh's first comments as Fed Chair.
Introduction
The Band - Strength, Death, & Reserve Regimes
How global dollar debt creates mandatory carry trades that every non-US country must run to survive in the modern monetary system.
Letter to Readers
The Dollar Doesn’t Die the Way You’ve Been Told
You have been told the dollar is dying.
Too much debt. Too many deficits. Too much printing. The story has been the same for forty years, and for forty years the people telling it have been early, wrong, or both. Meanwhile the dollar firme...
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Authors
The writers behind this newsletter.
We cover the intersection of financial markets, geopolitics and the madness of crowds as we view them through our famework of the Dollar Milkshake Theory.
Rehumanizing financial advisor practices. I help $2M–$30M HNWI families architect, protect, grow, and pass on lasting wealth. Founder ATOMIQ, host of ATOMIQ LEVEL, Agentic AI , BTC Treasuries, 4× #1 bestselling author.
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