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 | 226 | Founded | 2 years ago | Last Issue | 5 days ago |
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research.santiagocapital.comLatest Issues
The Impossible Republic
And the Money the World cannot Leave
LETTER TO READERS
Macro Pilgrim's Ledger | July 12, 2026
A Hormuz attack reignited oil prices while Nvidia and Meta powered the Nasdaq higher, splitting markets between inflation fears and an unstoppable AI trade
"Walking the path of global markets, one step at a time."
Think, Laugh, Cry #48
THINK At every hour of the day, something on me or near me is telling me what time it is.
THINK At every hour of the day, something on me or near me is telling me what time it is. My wrist, my phone, the corner of the laptop, the microwave...
The Legends Were Right
Brent begged Jim Rogers onto his advisory board in 2012, then ignored the one warning that mattered. The 2013 lesson has never been more relevant.
In 2013 you had a legend sitting across from you, telling you to be careful, and you did not...
Macro Pilgrim's Ledger | July 5, 2026
A soft jobs report sparked a rotation from tech into banks and industrials, sending the Dow to record highs while gold rebounded and oil slid to its cheapest...
A jobs report weak enough to bury the threat of another rate hike sent money p...
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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.
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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