Independent Finance Writing · Student Research
I read markets the way some people read novels — closely, and on purpose.
I'm Pulkit Sanganeria, a student who's obsessed with how money moves. I write first-principles analysis of the forces behind global markets — energy and geopolitics, central banks, private capital — to understand them, not to predict them.
The Research Desk
Recent topics I've explored.
The "Shadow" Monetary Policy of Stablecoins: Threats and the Vulnerability of Multi-Issuance Architectures
A multi-trillion-dollar parallel financial system is quietly forming — weakening monetary transmission, and engineering a 1992-style speculative attack waiting to happen at algorithmic speed.
The Ripple Effect: Economic Ramifications of the US–Iran Conflict on Middle Eastern Markets
A blockade of the Strait of Hormuz, a structural LNG shock, the UAE's exit from OPEC, and trillions in repatriated Gulf capital — an anatomy of a regional war's economic aftershocks.
Central Bank Dilemmas: Navigating Interest Rates in a High-Inflation Decade
Caught in a stagflationary trap — the trilemma of credibility, growth, and inflation, and the rising shadow of fiscal dominance in 2026.
The thesis behind the writing
Markets are a real-time argument about the future — never a clean answer to it. Every price is a claim someone is willing to defend. I write to understand those claims, test my own, and get a little less wrong over time.
More about me