About Erik Townsend

hedge fund manager Erik Townsend

Erik Townsend is a retired software entrepreneur turned hedge fund manager. Throughout his career, Erik has capitalized on his ability to understand complex systems and anticipate paradigm shifts far in advance of the mainstream. Read More...

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MacroVoices Weekly Podcasts

MacroVoices Weekly Podcasts

Weekly market commentary by Hedge Fund Manager Erik Townsend and interviews with the brightest minds in the world of finance and macroeconomics. Made possible by funding from Fourth Turning Capital Management, LLC
  1. MacroVoices #193 Charlie McElligott: Bond rally correction appears to be over

    Erik Townsend and PatrickCeresna welcome Charlie McElligott toMacroVoices. They discuss late cycle dynamics, how the CTA position estimating model works and if it’s time to buy gold & more. 

    Link: http://bit.ly/2KoEGCh

  2. All-Stars #77 Luke Gromen: You’re a conspiracy theorist if you call monetization ‘monetization’!

    All-Star Luke Gromen returns with an update on monetary policy and market outlook.

    Link: http://bit.ly/2qSMRje

  3. All-Stars #76 Juliette Declercq: Equity rally set to continue

    All-star Juliette Declercq returns with an update on her views on monetary policy and the equity market rally, which she says is set to continue higher.

    Link: http://bit.ly/2rrh5Ky

  4. MacroVoices #192 Keith McCullough : Inflation Accelerating

    Erik Townsend and PatrickCeresna welcome Keith McCullough toMacroVoices. They discuss the macro themes of the last quarter of 2019, what is next for the Chinese economy, long short pairs trade in software industry and more.

    Link: http://bit.ly/2JYhb2E

  5. All-Stars #75 Dr. Pippa Malmgren: Decoding the global explosion of civil unrest

    All-Star Dr. Pippa Malmgren explains why the explosion in civil unrest around the globe is all about breakdown of the social contract. Also Trump News Network and market outlook.

    Link: http://bit.ly/2CazFJ1

  6. MacroVoices #191 Alex Gurevich: Stop this conversation and pause this interview, go buy gold!

    Erik Townsend and PatrickCeresna welcome AlexGurevich toMacroVoices. They discuss the latest FOMC meeting, if it’s time to go long in the treasury market, outlook on gold and more. 

    Link: http://bit.ly/2JC44nC

  7. All-Stars #74 Brent Johnson: Expect ECB’s Christine Lagarde to take office and take action quickly!

    All-Star Brent Johnson expects Christine Lagarde to hit the ground running as she takes the helm of the ECB this week. Also stock and gold market outlooks.

    Link: http://bit.ly/2Jqf7QQ

  8. MacroVoices #190 Diego Parrilla: They'll change the rules to bail out the system

    Erik Townsend and Patrick Ceresna welcome Diego Parrilla to MacroVoices. They discuss Diego’s contrarian investment thesis, his concept of anti-bubbles, balanced portfolio construction and more. 

    Link: http://bit.ly/2BEKcMn

  9. All-Stars #73 Prof. Steve Keen: Rising Populism & Brexit update

    All-Star Prof. Steve Keen is back with an update on the recent surge in populism around the globe and Steve’s outlook for the resolution of the Brexit dilemma

    Link: http://bit.ly/31Amewu 

  10. All-Stars #72 Jeff Snider: The Supply-side of the Eurodollar equation

    All-Star Jeff Snider is back with more perspective on the global dollar liquidity situation, this time focusing on the supply rather than demand side of the equation.

    Link: http://bit.ly/2Jb9aXV

  11. MacroVoices #189 Stephanie Pomboy: S&P Earnings Do Not Equal Corporate Profits

    Erik Townsend and PatrickCeresna welcome StephaniePomboy toMacroVoices. They discuss the expansion of the FED’s balance sheet, the significance of the recent liquidity shock and the divergence between corporate profits and S&P and much more. In postgame, Rick Rule joins to discuss the strategies for participating ingold equity bull market. 

    Link: http://bit.ly/2qnxO0Y

  12. All-Stars #71 Julian Brigden: Geopolitical risks, Chinese liquidity dynamics & “not” QE

    All-Star Julian Brigden weighs in on the Saudi Arabia oil infrastructure attacks, Chinese liquidity, and the Fed’s QE that isn’t QE according to the Fed

    Link: http://bit.ly/33CcXFC

  13. All-Stars #70 Luke Gromen: The official narrative just FAILED!

    All-Star Luke Gromen says the official narrative just failed: The notion that the USD shortage would affect the rest of the world before it would affect the U.S. just collapsed according to Luke, and this creates investable opportunities.

    Link: http://bit.ly/35yXnw4

  14. All-Stars #69 Louis-Vincent Gave: Rangebound Markets

    All-Star Louis-Vincent gave returns for a detailed look at markets and an update on the developing situation in Hong Kong

    Link: http://bit.ly/2MynZ7S

  15. MacroVoices #188 : Variant Perception’s Tian Yang on Tail Hedges

    Erik Townsend and PatrickCeresna welcomeTian YangtoMacroVoices. They discuss the economic and liquidity leading indicators, the implications of US-China trade war on the markets, translating economic signals into market decisions and more. Later, Amir Adnani from Uranium Energy Corp joins in the postgame segment.

    Link: http://bit.ly/2M2Ke6P

  16. All-Stars #68 Danielle DiMartino Booth: Interpreting Friday’s Jobs data

    All-Star Danielle DiMartino-Booth is back to take a deeper look at last week’s Jobs report an share her analysis of what it means. Also free issue of Daily Feather newsletter.

    Link:http://bit.ly/2M0M6Nx

  17. All-Stars #67 Jeff Snider: Reconciling extreme treasury demand with declining bid-to-cover ratios

    All-Star Jeff Snider responds to listeners who have questioned how Jeff can say there’s a treasury shortage when bid-to-cover ratios are declining in treasury auctions.

    Link: http://bit.ly/2Vmfd0L

  18. All-Stars #66 Juliette Declercq: Break or Bounce time is here!

    All-Star Juliette Declercq says it’s time for the global economy to either break or bounce. Hear Juliette explain in detail in this episode.

    Link: http://bit.ly/31W7B7p

  19. MacroVoices #187 Eric Peters: The Era of Monetary Dominance will give way to Fiscal Dominance

    Erik Townsend and PatrickCeresna welcome Eric Peters toMacroVoices. They discuss the shift in dominance from monetary to fiscal policy, political drivers of changes in monetary policy and what impact the generational and political gap has on the economy and more. 

    Link: http://bit.ly/2IABbIj

  20. All-Stars #65 Luke Gromen: The Narrative Failure is upon us!

    All-Star Luke Gromen says we’re experiencing what Barton Biggs called “Narrative Failure”, and explains why the repo spike was neither “technical” nor “temporary”.

    Link: http://bit.ly/2mUbElv

  21. All-Stars #64 Brent Johnson: Even QE4 will only briefly reverse the Dollar’s climb

    All-star Brent Johnson says that even if Juliette Declercq is proven right and the Fed launches QE4, the reversal in the Dollar’s rise would only be temporary. Stocks higher, gold pullback.

    Link: http://bit.ly/2mU4aPG

  22. All-Stars #63 Juliette Declercq: This could mark the end of a chronic crisis rather than the beginning of an acute one

    All-star Juliette Declercq joins Jeff Snider and Danielle DiMartino Booth in saying the Fed is clueless with respect to the ongoing Repo crisis. Juliette gives the high-level picture to contrast Jeff’s deep analysis of the “plumbing”.

    Link: http://bit.ly/2nfMBJi

  23. MacroVoices #186 Harley Bassman: Volatility Does Not Equal Risk

    Erik Townsend and PatrickCeresna welcomeHarleyBassman toMacroVoices. They discuss theMOVE index as a leading economic indicator, how the upcoming election may affect both fiscal and monetary policy, and Harley’s article “The Opposite of Bad is Worse” and more. 

    Link: http://bit.ly/2lXbae7

  24. Energy Week #17: In the aftermath of Abqaiq

    This episode of Energy Week focuses on the future of the oil market and how the #Abqaiq attacks will change energy security policy. ALSO: Big announcement re: the future of Energy Week

    Link: http://bit.ly/2nl04zO

  25. All-Stars #62 Prof. Steve Keen: Why repo blew up last week and what it means

    All-Star Prof. Steve Keen is back with his perspective on last week’s repo market dislocation. Spoiler: this was NOT because the fiat system is collapsing, as some crypto die-hards have suggested

    Link: http://bit.ly/2mzL5BN

  26. All-Stars #61 Danielle DiMartino-Booth: The inmates are not running the asylum. Nobody is!

    All-Star Danielle DiMartino-Booth says the Federal Reserve has a serious management problem and is literally out of control.

    Link: http://bit.ly/2mn84jd

  27. All-Stars #60 Jeff Snider: Deep dive on the Repo Blowup

    All-Star Jeff Snider is back by popular demand to explain why the mainstream explanations for last week’s explosion in repo rates just doesn’t add up with the facts!

    Link: http://bit.ly/2mcArQV

  28. Hot Topic #3 Alex Gurevich: Follow-up from the Grant Williams interview

    Honte Investments’ hedge fund manager Alex Gurevich was so intrigued by Erik’s interview with Grant Williams that he wanted to add a few thoughts of his own….Link: http://bit.ly/2kuLbtG
  29. MacroVoices #185 David Rosenberg: Global Economy Still Deteriorating

    Erik Townsend and Patrick Ceresna welcome David Rosenberg to MacroVoices. They discuss the latest FOMC statement, recent dislocation in value & growth, outlook on the bond market and more. Link: http://bit.ly/2kU8sp4
  30. Energy Week #16: Abqaiq Processing Facility Attacks and their consequences

    This episode focuses entirely on #Abqaiq attacks and their knock-on consequences and effects. Anas Alhajji is boots-on-the-ground, reporting from Riyadh Saudi Arabia and Joe McMonigle joins us from Washington, DC.Link: http://bit.ly/2lWlqmm
  31. All-Stars #59 Julian Brigden: Can the Fed still save us from recession?

    MI2 Partners founder Julian Brigden is back with an update on recession outlook, fixed income, and the geopolitical events of last weekend.Link: http://bit.ly/2kntsUS
  32. All Stars #58 Dr. Pippa Malmgren: Abqaiq Saudi Arabia Drone Attacks - What’s at stake & what comes next

    All-Star Dr. Pippa Malmgren is back with a fantastic geopolitics interview focusing on the #Abqaiq (Saudi) drone attacks. Don’t miss this one, gang!Link: http://bit.ly/2mfWoi5
  33. All-Stars #57 Louis-Vincent Gave: Last week’s dislocation between value and growth

    All-Star Louis-Vincent Gave explains last Monday’s dramatic dislocation between value and growth stocks and why it was important. Also gold, Hong Kong update and more.
    Link: http://bit.ly/2mdWGGd

  34. All-Stars #57 Louis-Vincent Gave: Last week’s dislocation between value and growth

    All-Star Louis-Vincent Gave explains last Monday’s dramatic dislocation between value and growth stocks and why it was important. Also gold, Hong Kong update and more.Link: http://bit.ly/2mdWGGd
  35. MacroVoices Spotlight #2 Bob Coleman: Private Vaulting of Precious Metals = Independence from the Financial System

    When private investor Bob Coleman set out to find a place to store his own precious metals OUTSIDE the financial system, he found all the vaulting services had conflicts of interest, so he started his own!Link: http://bit.ly/2lMOzAv
  36. MacroVoices #184 Jeffrey Snider & Luke Gromen : Global U.S. Dollar Shortage Demystified

    Erik Townsend and Patrick Ceresna welcome Jeff Snider and Luke Gromen to MacroVoices. They discuss the impact of changing Eurodollar markets, the global dollar liquidity shortage and the future changes in global reserve currencies and more. Link: http://bit.ly/2lOWHQP
  37. All-Stars #56 Dr. Anas Alhajji: Oil Market Update (in lieu of ENERGY WEEK)

    Due to panelist travel schedules we were unable to bring you Energy Week this week. This oil market update from Dr. Anas Alhajji will substitute for this week’s ENERGY WEEK podcast.Link: http://bit.ly/2kF32hq
  38. All-Stars #55 Danielle DiMartino-Booth: Jay Powell’s exuberance over U.S. economy is unfounded!

    All-Star Danielle DiMartino-Booth says Jay Powell’s Zurich speech doesn’t jibe with economic reality. Also Carney’s Jackson Hole pitch and more.Link: http://bit.ly/2lLXNgb
  39. All-Stars #54 Prof. Steve Keen: China’s move to lower RRR and what it means

    All-Star Prof. Steve Keen is back for an update on China’s move over this past weekend to lower their required reserve ratio (RRR) and what it means.Link: http://bit.ly/2lMpBRu
  40. All-Stars #53 Juliette Declercq: What to expect from the ECB on Thursday

    All-Star Juliette Declercq weighs in on what to expect from the ECB this Thursday, as well as her own prescriptions for monetary policy.Link: http://bit.ly/2kAtLfb
  41. MacroVoices Spotlight #1 Niels Kaastrup-Larsen: Algorithmic Trading & Trend Following

    In the inaugural episode of MacroVoices Spotlight, Niels Kaastrup-Larsen explains why Trend Following has been the most successful long-term algorithmic trading strategy.Link: http://bit.ly/2lZOFEM
  42. MacroVoices #183 Grant Williams: Gold’s rise has just begun

    Erik Townsend and Patrick Ceresna welcome Grant Williams to MacroVoices. They discuss global negative yielding debt, outlook on Gold and what effect recession will have on the US stock market & more.
  43. All-Stars #52 Brent Johnson: Dollar breakout set to continue higher

    All-Star Brent Johnson says the U.S. Dollar breakout is set to continue higher. Brent still expects a pullback in gold, but sees it moving higher long-term.Link: http://bit.ly/2jZsUV0
  44. All-Stars #51 Luke Gromen: USD faces day of reckoning when it becomes clear Fed will have to monetize gov’t deficits

    All-Star Luke Gromen explains why the Fed will soon be forced to monetize U.S. government deficits, and why that has to spell serious trouble for the USD.Link: http://bit.ly/2kgI1tx
  45. MacroVoices #182 Summer Special Part 2: Danielle DiMartino-Booth and Peter Boockvar on the Future of Monetary Policy

    Erik Townsend and Patrick Ceresna welcome Danielle DiMartino-Booth and Peter Boockvar to MacroVoices. They discuss financial repression, outlook on US dollar, Europe, the ECB and Christine Lagarde & more.Link: http://bit.ly/2ZybGkr
  46. All-Stars #50 Prof. Steve Keen: Why BOE’s Mark Carney just pitched a global digital reserve currency at Jackson Hole and how central bankers think abo...

    All-Star Prof. Steve Keen explains why central bankers often make their boldest moves on their way OUT of office and what drove Mark Carney to propose a CBDC reserve currency at Jackson HoleLink: http://bit.ly/2Zr4oQo
  47. All-Stars #49 Jeff Snider: Yield curves don’t lie. But central bankers sometimes do.

    All-Star Jeff Snider explains why Janet Yellen is wrong to think term premia explain why the bond market is signaling deflation. Great slide deck too!Link: http://bit.ly/2zoJVvS
  48. MacroVoices #181 Summer Special Part 1: Danielle DiMartino-Booth and Peter Boockvar on the Future of Monetary Policy

    Erik Townsend and Patrick Ceresna welcome Danielle DiMartino-Booth and Peter Boockvar to MacroVoices. They discuss the FOMC statement, risks of a recession in the U.S. and inflation risks moving forward, and much more.Link: http://bit.ly/31UNp5C
  49. All-Stars #48 Dr. Pippa Malmgren: It’s not really 1929. Don’t panic.

    All-Star Dr. Pippa Malmgren is back. She disagrees with the many market observers who believe we’re on the edge of the cliff, and offers bullish arguments for markets & the economy.Link: http://bit.ly/2ZkMaz4
  50. All-Stars #47 Luke Gromen: It’s not Stocks or Bonds but the USD that is the “odd man out”

    All-Star Luke Gromen is back for another fantastic All-Stars Interview. Why it’s the USD (not stocks or bonds) that is mispriced, and why it sets up an equity bear trap. Great interview!Link: http://bit.ly/2Z2EBxn
  51. All-Stars #46 Prof. Steve Keen: Yield curve inversion, recession & private debt

    All-Star Prof. Steve Keen is back for another great interview. Steve still doesn’t expect a MAJOR U.S. recession, but concedes the yield curve inversion is a signal to be taken seriously. More perspective on policy failure. Link: http://bit.ly/2TBOJaJ
  52. MacroVoices #180 Daniel Lacalle: The bond market gets it. Global Stocks get it. The S&P 500 has been slow to get the memo.

    Erik Townsend and Patrick Ceresna welcome Daniel Lacalle to MacroVoices. Erik and Daniel discuss the risks of competitive devaluation, how the global demand for the dollar is driving the monetary policy & the outlook on gold and its new correlation to the dollar. Link: http://bit.ly/2KUwOYW
  53. Energy Week #15: Trade wars, demand outlook, and Saudi Aramco IPO. Panel Alhajji/McMonigle/Chigrl

    Energy Week #15 featuring Anas Alhajji, Tracy Shuchart and Joe McMonigle, covers Trade Wars, OPEC, Saudi policy, Gloomy demand forecasts & more.Link: http://bit.ly/33JwiFI
  54. All-Stars #45 Louis-Vincent Gave: Hong Kong, Gold, Bond Yieds, & Stocks

    Hong Kong resident Louis-Vincent Gave weighs in on the unrest there and what it means for markets, then we cover gold, bond yields, and stocks. Great interview!Link: http://bit.ly/2TtzujT
  55. All-Stars #44 Jeffrey Snider: The real story on the Chinese Yuan devaluation

    All Star Jeff Snider describes a far more intricate and complex explanation for the Yuan breaking 7 to the USD and explains what it means.Link: http://bit.ly/33sIgTT
  56. All-Stars #43 Luke Gromen: Central Banks Ditch Gold-Buying Agreement (But keep buying gold)

    All-Star Luke Gromen weighs in on why central banks dumped the Central Bank Gold Agreement but keep buying gold hand-over-fist. Great interview! Link: http://bit.ly/33p8Ld2
  57. MacroVoices #179 Ronald-Peter Stöferle: Gold/Precious Metals Special

    Erik Townsend and Patrick Ceresna welcome Ronald-Peter Stöferle to MacroVoices. Erik and Ronald discuss why gold is an important asset to own, gold as equity hedge, global de-dollarization and sovereign gold holdings and much more.
  58. Energy Week #14: Mayhem in the Market: China Trade Wars, Forward Curve Fireworks & More!

    Energy Week dives into the Trade Wars and other factors driving the energy price collapse, forward curve fireworks, and much more! Panelists Art Berman, Chris Cook and Patricia Hemsworth
  59. All-Stars #42 Brent Johnson: Still bullish the USD

    All-Star Brent Johnson remains convinced the USD is headed higher, despite market fireworks of the last few days. Extensive discussion of gold and stocks as well.Link: http://bit.ly/2YKK5fs
  60. All-Stars #41 Juliette Declercq: Powell should be fired!

    All-Star Juliette Declercq says Jay Powell blew it last week, and should be fired for it! She says the Fed had the chance to contain the USD ascent but blew it. Great interview! Link: http://bit.ly/2YK4D7J
  61. Hot Topic #2 Dr. Hal & Dr. Pippa Malmgren: Father/Daughter Presidential Advisor Team

    This special interview with Dr. Harald Malmgren and Dr. Pippa Malmgren was a real treat to record! The father/daughter team disagrees on many present economic issues, and we get a glimpse into growing up Malmgren.Link: http://bit.ly/2Zw96Iv
  62. All-Stars #40 Prof. Steve Keen: Why Steve does NOT see a U.S. recession on the horizon

    Despite being perceived as an economic perma-bear, Prof. Steve Keen says he’s NOT anticipating a U.S. recession any time soon. We also cover his outlook for the rest of the world.Link: http://bit.ly/2GKJgZN
  63. MacroVoices #178 Mark Cudmore: Bearish global growth and equity markets, expecting an imminent decline in stock prices

    Erik Townsend and Patrick Ceresna welcome Mark Cudmore to MacroVoices. Erik and Mark discuss the global growth and economy outlook, US and China trade negotiations, US equity market and its effects on emerging markets. Special postgame guest: Danielle DiMartino BoothLink: http://bit.ly/2YETLYN
  64. Energy Week #13: EIA Draw—where did the oil go? Panelists Berman/Alhajji/Shuchart

    Energy Week starring Art Berman, Anas Alhajji and Tracy Shuchart covers the big EIA draw (where did that oil go?), E&P equity price trend & much more.
  65. All-Stars #39 Jeffrey Snider: A deeper dive into Fed Funds and IOER

    All-Star Jeff Snider responds in detail to feedback we received from his July 15 All-Stars interview. We explore why IOER is SUPPOSED to be a “double floor” below EFF, and why it’s really not.Link: http://bit.ly/2YxbNfB
  66. All-Stars #38 Danielle DiMartino-Booth: FOMC Preview

    All-Star Danielle DiMartino Booth gives a briefing on what to expect from Wednesday’s FOMC Press Release, 25 or 50 bps? How will the ECB React? And much more!Link: http://bit.ly/2LMsaPc
  67. All-Stars #37 Dr. Pippa Malmgren: Iran, Trump News Network, and Facebook’s $5bn fine

    All-Star Dr. Pippa Malmgren weighs in on Iran geopolitical risks, updates her thesis on President Trump having ambitions for a news network after the white house, and comments on Facebook’s $5bn fine. Link: http://bit.ly/2ZffYK1
  68. MacroVoices #177 Peter Warburton: Inflation or Stagflation? And how will it occur?

    Erik Townsend and Patrick Ceresna welcome Dr. Peter Warburton to MacroVoices. Erik and Dr. Warburton discuss the factors that affect long term outlook for inflation, the history of inflation targeting and inflation controls and Dr. Warburton’s “Blowing Up the Box”
  69. Energy Week #12: Prices down on a 10.8mm bbl draw, Iran, Pemex Hedge & More. Hemsworth/Berman/Cook

    Energy Week featuring Art Berman, Chris Cook and Patricia Hemsworth covers the super-drawdown, price reaction, Iran, Pemex Hedge & more.Link: http://bit.ly/2SDxxRr
  70. All-Stars #36 Julian Brigden: Pensions, Curve Inversions, and 10yr outlook

    All-Star Julian Brigden on the implications of deflation for the Pension system, whether a recession is possible without a yield curve inversion, and the 10yr yield outlook.Link: http://bit.ly/2y7edTn
  71. All-Stars #35 Luke Gromen: FF>IOER Means Balance Sheet Capacity Used Up

    All-Star Luke Gromen responds to Jeff Snider's All-Stars appearance last week, sharing a different view on the significance of Fed Funds exceeding IOER. Luke says it’s about domestic private sector balance sheet capacity.Link: http://bit.ly/2XVNVmh
  72. All-Stars #34 Danielle DiMartino-Booth: The stock market can rally thru the 1st or 2nd rate cut

    All-Star Danielle DiMartino-Booth explains “Double Easing” (rate cuts and QE at the same time) and why it’s a possibility, and explains why the stock market can rally a bit longer despite the global growth slowdown.Link: http://bit.ly/2YfP1c2
  73. MacroVoices #176 Jim Rickards on his new book, Aftermath

    Erik Townsend and Patrick Ceresna welcome Jim Rickards to MacroVoices. Erik and Jim discuss the progression of growing debt, the cost of low growth and high debt, and Jim’s new book “Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos” Link: http://bit.ly/2SliM5K
  74. Energy Week #11: Iran, EIA, Venezuela, Canadian Crude. Panel Alhajji/Hemsworth/McMonigle

    Energy Week covers the price reversal, Iran policy, EIA, Venezuela & Canadian crude differentials. Panel Anas Alhajji, Joe McMonigle and Patricia Hemsworth with host Erik Townsend.Link: http://bit.ly/2Y6gM6B
  75. All-Stars #33 Prof. Steve Keen: How the field of Economics was corrupted

    All-Star Prof.Steve Keen pulls no punches telling Erik Townsend how and why the field of economics lost touch with the real world.Link: http://bit.ly/2JLJ3WO
  76. All-Stars #32 Jeffrey Snider: Eurodollar System Explains Fed Funds over IOER

    All-Star Jeff Snider explains why the Fed's IOER hasn't worked as a ceiling over Fed Funds, and the significance of each, including the recent move of FF well above IOER and how this relates to the EuroDollar System.
  77. Inside the Investment Committee #2: Long bonds, short the Euro Gurevich/Brigden/Declercq

    Fund manager Alex Gurevich is in the hot seat this month, pitching his “perfect trade” from 2014 long bonds and short the Euro. Alex explains why he believes this was truly a ‘perfect’ can’t lose trade, then we translate to current markets.Link: http://bit.ly/2G8uawM
  78. All-Stars #31 Julian Brigden: Crypto, Gold and the Dollar

    All-Star Julian Brigden opines on the return of crypto currencies, gold, silver, and the U.S. Dollar. Link: http://bit.ly/2LQ6b9C
  79. MacroVoices #175 Jesse Felder: Breadth divergences signal caution warranted on new all-time highs

    Erik Townsend and Patrick Ceresna welcome Jesse Felder to MacroVoices. Erik and Jesse discuss the theories on the length of this market cycle, outlook on the dollar and bond yields, and the unwind of institutional risk parity trade and much more.Link: http://bit.ly/2xKZugy
  80. Energy Week #10: Inventory data or Tropical Storm? What’s driving the price rally? Alhajji/Shuchart/Berman

    Energy Week episode #10: What’s driving the price rally? Tropical storm in the gulf or massive inventory draw? Also security in Straits of Hormuz and Art v. Anas on data interpretation.Link: http://bit.ly/2LKEOxu
  81. All-Stars #30 Luke Gromen: Still bullish risk assets, Gold & BTC despite global Dollar squeeze

    All-Star Luke Gromen tells Erik Townsend he understands and agrees with the “global dollar squeeze” argument, but it doesn’t deter him from being bullish Gold, Bitcoin, and risk assets generally.Link: http://bit.ly/2LdwKpt
  82. All-Stars #29 Brent Johnson: Still not chasing Gold at these levels

    All-Star Brent Johnson tells Erik Townsend he's not chasing gold at these prices, and his conviction that the USD is headed much higher has never been stronger. Brent also thinks SPX 4000 is possible in the next 2-3 years.Link: http://bit.ly/2LdZvlR
  83. All-Stars #28 Louis-Vincent Gave: $13tn of Negative-Yielding Debt

    All-star Louis-Vincent Gave tells Erik Townsend that $13.5tn of negative-yielding sovereign debt around the world is a sign the global economy is in serious trouble. U.S. Stocks may be at all-time highs, but the rest of the world is in decline.Link: http://bit.ly/2XKIfuH
  84. All Stars #27 Dr.Pippa Malmgren: Don't underestimate the importance of data security

    Today's All-Star Dr.Pippa Malmgren says why privacy will be the governance issue of our time. Link -> https://www.macrovoices.com/podcasts-collection/macrovoices-all-stars-podcasts/617-all-stars-27-pippa-malmgren-don-t-underestimate-the-importance-of-data-security
  85. MacroVoices #174 John Netto: Gold will hit $1500 this month

     Erik Townsend and Patrick Ceresna welcome John Netto to MacroVoices. Erik and John discuss what’s driving this market, where is gold heading next and how to apply sentiment indicators to investing strategy. Link -> https://www.macrovoices.com/614-john-netto
  86. All-Stars #26 Juliette Declercq: Should lawyers be in charge of Central Banks?

    After Juliette Declercq stirred up some commotion with her tweet asking whether it makes sense for lawyers to be in charge of the 2 main central banks, we wanted the full story…
  87. Energy Week #9: OPEC+, G20, And a Deep Dive on Forward Curves. Panel Hansen/Cook

    This week's panel includes Ole Hansen and Chris Cook. Topics include G20, OPEC+, market reaction to both, and Chris takes a deep dive on forward curves.
  88. All-Stars #25 Danielle DiMartino-Booth: The U.S. is not immune to the global economic slowdown

    All-Star Danielle DiMartino Booth tells host Erik Townsend that the U.S. is anything but immune to the global economic recession that is now beginning. Also Fed vs. Trump and why it's important to have an independent Fed. Direct Link -> https://www.macrovoices.com/podcasts-collection/macrovoices-all-stars-podcasts/613-all-stars-25-danielle-dimartino-booth
  89. All-Stars #24 Prof. Steve Keen: Credit MATTERS to Aggregate Demand!

    All-Star Professor Steve Keen debunks mainstream economists failure to consider Credit as a determinant of aggregate demand
  90. All-Stars #23 Jeff Snider: Rate cuts are coming!

    All-Star Jeff Snider says interest rates are coming, but he thinks the actual reasons differ from market perceptions. Hear Jeff explain the clues interest rate swaps and offshore repo transactions provide.
  91. All-Stars #22 Luke Gromen: We’re in the early innings of Dollar down, Gold & Bitcoin up

    All-Star Luke Gromen says the long gold, long bitcoin, short U.S. Dollar trade is just getting started.
  92. MacroVoices #173 Marin Katusa: Everyone’s focused on Gold, but the real buy is in Oil!

    Erik Townsend and Patrick Ceresna welcome Marin Katusa to MacroVoices. Erik and Marin discuss his outlook on uranium, perspective on shale oil over the next decade, and how to play the energy sector.
  93. Energy Week #8: Massive inventory drawdown, PES Fire, OPEC+, G20. Panel Shuchart/Berman/Alhajji

    This week's Energy Week features Art Berman, Anas Alhajji and Tracy Shuchart. Topics: Massive EIA inventory drawdowns, lower Brent+WTI open interest, PES Fire, OPEC+ G20 & More.
  94. All-Stars #21 Julian Brigden: Trump, Trade & the Middle East

    All-star Julian Brigden opines on the China-U.S. trade negotiations, middle-east geopolitical tensions, and much more.
  95. All-Stars #20 Louis-Vincent Gave: Hong Kong Protests & Chinese Yuan Outlook

    Today's Macrovoices All-Star Louis-Vincent Gave weighs in on the protests which brought 25% of Hong Kongers to the streets and opines on the longer term outlook for the Chinese Yuan
  96. MacroVoices #172 Greg Weldon: Translating Fed policy to Commodity Price Outlook

     Erik Townsend and Patrick Ceresna welcome Greg Weldon to MacroVoices. Erik and Greg discuss his outlook on the dollar, possible dollar breakout and its risks on gold and using commodity indicators as economic indicators.
  97. Energy Week #7: Tanker attacks, OPEC+, G20, Fed Policy. McMonigle/Hemsworth/Alhajji

    This week's ENERGY WEEK features Anas Alhajji, Joe McMonigle and Patricia Hemsworth. Gulf tanker attacks and their consequences, China Trade, G20, OPEC+ and much more.
  98. All-Stars #19 Prof. Steve Keen: Risks to Sweden and Nordic Economies

    Today's MacroVoices All-Star Prof.Steve Keen recaps his recent trip to Sweden for the Central Bank Digital Currency conference, and comments on Swedish and Nordic economic outlooks.
  99. All-Stars #18 Juliette Declercq: When will the Fed cut rates?

    Today's MacroVoices All-Star is JDI Research founder Juliette Declercq. Juliette weighs in on what we can expect from this week's FOMC statement, and the disparity between equity and fixed income markets discounting different growth expectations. Also Yuan deval risk. 
  100. All-Stars #17 Danielle DiMartino Booth: The Fed is setting the stage for NIRP!

    All-Star Danielle DiMartino Booth is on fire this week! Danielle says the Fed's language change at the Chicago conference can only mean one thing: They're getting markets ready for NIRP. Not ZIRP, but NIRP!

MACRO VOICES is presented for informational and entertainment purposes only. The information presented in MACRO VOICES should NOT be construed as investment advice. Always consult a licensed investment professional before making important investment decisions. The opinions expressed on MACRO VOICES are those of the participants. MACRO VOICES, its producers, and hosts Erik Townsend and Patrick Ceresna shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

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