THINK LAUGH CRY
Words cost nothing to speak and everything to receive...the quiet asymmetry of language that shapes us for decades without the speaker ever knowing.
Santiago Capital
Macro research on Capital Markets, Geopolitics & the Madness of Crowds — all through the lens of the Dollar Milkshake Theory. By Brent Johnson.
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What Rand Paul Actually Saw Inside Fort Knox
A senator walked into Fort Knox and walked out satisfied. What the annual audit actually checks is a numbered piece of paper, and that is the whole story.
Macro Pilgrim's Ledger | Aug 16, 2026
Global markets wrestled with cooling inflation and a faltering consumer as crude surged 5%, bonds sold off, and the S&P 500 quietly notched a third straight ...
Y'all Street
Wall Street's oldest insult has become a forecast. If the financial capital ever leaves New York, it does not sail to Shanghai. It goes to Texas.
EQUITIES IN DALLAS
From Wall Street to Y'all Street
The Circular Bailout
Washington bought yen to protect the Treasury market, and protected the Treasury market to protect everyone. The rescue was never about Japan.
Macro Pilgrim's Ledger | August, 9 2026
A stalled jobs market sent stocks to records, gold to $4,400, and the Fed's rate plans into retreat across a paradox-driven week on Wall Street
Think, Laugh, Cry #50
How a medieval monk's chronicle of a Viking massacre reveals what soap, combs, and bath day taught historians about evidence, memory, and myth.
Salt Caverns
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?
Macro Pilgrim's Ledger | August 2, 2026
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...