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  • John Llewellyn: Economic consequences of the Brexit referendum

    Erik Townsend welcomes John Llewellyn to MacroVoices. Erik and John discuss how the Brexit vote is simply a prelude to a highly uncertain process, polling accuracy and the distinct possibility of Britain exiting the EU, the near-term economic impacts of Brexit on the British economy including lower foreign-direct investment and trade re-negotiations, and much more.

  • Aaron Chan - Works of [Ch]Art: Mall REITs Mauled

  • 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.

  • An Interview with Legendary Investor Jim Rogers

    Erik Townsend welcomes legendary investor Jim Rogers as MacroVoices’ first feature interview. Erik and Jim discuss China, falling currencies around the world, the coming market turmoil and its tactical bullish implications for the U.S. dollar, even in the face of longer-term bearish forces that will also affect the dollar, U.S. monetary policy and the failure of Quantitative Easing, weakness in the banking sector despite massive injections of liquidity, the 35-year bond bull market and its eventual end, current trouble in high-yield credit (junk bonds), whether the recent breakout in gold prices is sustainable or a parabolic surge that could lead to a blow-off top, U.S. debt levels, implications of the upcoming U.S. Presidential election on markets, sovereign debt crises, de-dollarization, and much more.

  • Art Berman: Labor Day Weekend Oil Special

    Erik Townsend and Aaron Chan welcome Art Berman to MacroVoices. Erik and Art discuss looking beyond absolute inventory numbers and gleaning insights from comparative inventories, continued time-spread compression reflecting producer hedging or lack of concern for a storage crisis, feedback loop of insanity in inventory builds and production, and much more.

  • Art Berman: Oil Fundamentals Deep Dive Redux

    Arthur Berman largeErik Townsend welcomes Art Berman to MacroVoices. Erik and Art discuss:

    • Their calls made on Episode 3 of MacroVoices in February
    • Which fundamental factors have changed since then
    • The damage done to the supply of capital available to shale drillers in spite of oil rising to $50
    • Current US production levels and where they may be headed from here
    • Prices moving up in the face of dangerously high inventory levels at Cushing, OK
    • Using Comparitive Inventories to predict price movements
    • The 'funny' accounting practiced by shale drilling companies and many analysts
    • EIA price forecasts and whether or not they are accurate
    • Geopolitically driven supply disruptions and whether or not they will last
    • Middle Eastern oil production increases and alongside a shifting political picture
    • The possibility of a future where the world can't afford petroleum, and much more...

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  • Art Berman: Oil Fundamentals Deep Dive Redux

    Erik interviews petroleum geologist Art Berman in his second appearance on MacroVoices as they revisit some of their fundamental analysis from Episode 3 back in February

  • Art Berman: OPEC Production Cut, Crude Oil Outlook

    Erik Townsend and Aaron Chan welcome Art Berman to MacroVoices. Erik and Art discuss OPEC's latest production cut agreement and what it means, false conception of cutting production to bring balance to an already-balanced market, how excess oil in storage will suppress prices for some time to come, weak demand growth similar to late-2014 won't support higher prices, OPEC not being as desperate as portrayed by the media, and much more.

  • Art Berman: Shale Gas Magical Thinking And The Reality of Low Gas Prices

  • Axel Merk: ECB/Fed/BOJ Policy and the Implications for Equities, Gold, the USD and More

    Erik welcomes Axel Merk and the two of them discuss recent central bank statements and how we can expect them to affect financial markets.

  • Axel Merk: ECB/Fed/BOJ Policy and the Implications for Equities, Gold, the USD and More

    2014 02 13 Axel headshotErik Townsend welcomes Axel Merk to MacroVoices. Erik and Axel discuss:

    • The ECB, Fed, and BOJ statements and how policies are shifting
    • The upward trajectory of the Euro following a confusing ECB statement
    • The key differences between central banking in the US, and the Eurozone
    • TLTRO2: "a funding for lending scheme" - how does it work, what does it mean?
    • A potential bottoming in European interest rates
    • Will a Fed rate hike mean a stronger dollar, or have markets already priced this in?
    • The Fed members, structure, focus and process
    • Coming headwinds for asset prices as the Fed unwinds an unprecedented easing cycle
    • The counterproductivity of negative interest rates and extraordinary central bank policy
    • The Dollar rally - how did we get here and is the rally over?
    • Gold and other "safe havens" - where can investors hide in this challenging environment?

     

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  • Bill Fleckenstein: The Perils of Short Selling in a World Awash in Central Bank Liquidity

    Erik interviews Bill Fleckenstein and they discuss the tactics involved in short selling, and the dangers of doing so in a market fueled by central bank liquidity.

  • Bill Fleckenstein: The Perils of Short Selling in a World Awash in Central Bank Liquidity

    Fleckenstein3Erik Townsend welcomes Bill Fleckenstein to MacroVoices. Erik and Bill discuss:

    • A coming correction in equities - what's different this time?
    • "The fumes of QE" and non-US sources of liquidity
    • The tactics one must necessarily employ to succed in short selling
    • 20 years of failed activist Fed policy
    • A potential bond market revolt and an end to the dollar bull market
    • The real rate of inflation and the irrelevance of the CPI
    • The destruction of the middle class by central bankers and politicians
    • The time to be short vs. the time to be patient
    • Gold, gold miners, and the end of the bear market in precious metals
    • Plus Erik's market recap and his own insights into short selling
    • and plenty more...

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  • Charles Biderman: The Monetary Policy Endgame

    Erik Townsend and Aaron Chan welcome Charles Biderman to MacroVoices. Erik and Charles discuss big picture and current market contexts beginning from Post-WW2, flight capital impact on U.S. markets, backstory related to sub-advisor relationship with and termination from AdvisorShares, and much more.

  • David Rose: Accredited Investor Academy, Part 3-A

    Erik Townsend and Aaron Chan introduce the Accredited Investor Academy Series, Part 3A. We’re taking this week off from our regular show format, so instead of a featured interview guest, we’re airing the third of a four-part series about learning to be a sophisticated private investor.

  • David Rosenberg: Opportunities and Outlook for 2017

    Macro Voices interview with David Rosenberg from Gluskin Sheff. David discusses when is it time to become bearish on the markets, US Dollar Outlook, Canadian Dollar and Canadian Monetary Policy, Future of European Union and asking if the 35-year bond bull market over?

  • David S. Rose: Angel Investing

    Erik Townsend and Aaron Chan welcome David S. Rose to MacroVoices. Erik and David discuss David's background and introduction to angel investing and entrepreneurship through his great uncle, what angel investing actually is, how it might fit in a portfolio, and who it is suited for, expected investment returns from angel investing and the role of diversification, and much more.

  • Dr. Ben Hunt - Macroeconomics viewed through the lens of Game Theory and History

    Dr. Ben Hunt brings a fresh perspective on the current macroeconomic backdrop as viewed through the lenses of game theory and history. We discuss the US dollar, Chinese currency devaluation, Japan, the Brexit referendum and much more.

  • Dr. Gary Shilling: Long the Long-Bond, Short Oil, Skeptical of U.S. Stocks

    Erik Townsend and Aaron Chan welcome Dr. Gary Shilling to MacroVoices. Erik and Gary discuss the continued perception of the U.S. Dollar as a safe haven currency, why the long-bond trade isn't over and the forces driving yields lower, reasoning behind going long defensive stocks despite a bearish view on equities, and much more.

  • Dr. Harald Malmgren, Dr. Pippa Malmgren: Post-Election Special

    Erik Townsend and Aaron Chan welcome Dr. Harald Malmgren and Dr. Pippa Malmgren to MacroVoices. Erik, Harald, and Pippa discuss Trump's governance effectiveness in light of the enemies he has made on the campaign trail, sources and potential escalation of social unrest and riots in the aftermath of Trump's victory, the potential for Trump to galvanize the determination, grit, and work ethic of the American electorate, whether markets are prematurely jumping to the conclusion that Trump is necessarily inflationary, outlook for foreign relations with China, Russia, and Mexico, breakdown of the social contract and the collapse in the government's ability to function and meet entitlements, and much more.

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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