How much did it Cost for Iran to win its Political Victory...?

👉 On Substack? Visit - https://research.santiagocapital.com 👉 Shop Individual Macro Research Reports - https://santiagocapital.com/shop 👉 Put Your Gold to Work - https://www.monetary-metals.com/santiago Iran can call the 2026 war a political win. The regime survived, kept most of its enriched uranium, and held onto enough missiles to claim deterrence. This deck adds up what that "victory" actually cost. The bill: a decapitated leadership, a wrecked navy and air defense, the missile industry gutted, and roughly $270 billion in damage with a rebuild that could take 12 years. Politically they survived. Materially, they're devastated. MMM Episode 172 (June 21, 2026)