
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 | |
|---|---|---|---|---|---|
| Issues | 235 | Founded | 2 years ago | Last Issue | 6 days ago |
| Active | |||||

How a medieval monk's chronicle of a Viking massacre reveals what soap, combs, and bath day taught historians about evidence, memory, and myth.
THINK Sometime in the middle of the thirteenth century, a monk at St Albans sat down to explain...
The Strategic Petroleum Reserve just hit a 43-year low. Is this a scandal or is this a design doing what Congress built it to do in 1975?
On July 29th, the Energy Information Administration published a number that traveled fast. The Strate...
Markets clawed back losses after Fed discord and an oil war cooldown, but a 1,100-point single-session drop exposed the fault lines running beneath the surface...
The Santiago Way.
Why Infrastructure was Optimized for a World that has Ended
LETTER TO READERS
A price-insensitive machine keeps the market bid no matter the news. It runs the same arithmetic in reverse when it turns.
War in the Middle East. Political dysfunction at home. Crazy valuations on an unproven technology. Gas heading towar...
Subscribers, engagement, traffic and sponsorship for Santiago Capital.
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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.
Macro, markets, and the stories everyone is telling themselves. China, Japan, Gold, AI, Crypto. The consensus is usually right about the facts and wrong about what the facts mean. Sometimes I write about other things too. Founder @ DeFi Advisors.
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