Macro Voices Podcasts

Erik Townsend and Patrick Ceresna welcome Eric Peters to MacroVoices. Erik and Eric discuss:

• Has monetary policy lost its effectiveness
• Shift in dominance from monetary policy to fiscal policy
• Political drivers of changes in monetary policy
• Generational and political gap and its impact on the economy
• Outlook on equity market
• Perspectives on the current bond market
• Outlook on precious metals

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Erik Townsend and Patrick Ceresna welcome Harley Bassman to MacroVoices. Erik and Harley discuss:

• MOVE index as a leading economic indicator
• Reversal in bond yields and what's coming next
• Corporate buybacks and the divergence of the S&P500 from the global economy
• Is the US going to follow Europe into negative rates?
• How the upcoming election may affect both fiscal and monetary policy
• Possibilities of a bond market crisis and what to expect
• Perspectives on recent breakout in gold
• "The Opposite of Bad is Worse" and perspectives on negative rates
• Buying opportunities in negative rates

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Harley will refer to it throughout the interview. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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SPECIAL POST GAME GUEST- Kevin Muir

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Erik Townsend and Patrick Ceresna welcome Jeffrey Snider and Luke Gromen to MacroVoices. They discuss:

• Current US dollar liquidity squeeze
• Impact of changing Eurodollar markets
• Understanding the global banking system
• Do interest rates influence dollar liquidity?
• What does the Fed do now?
• China, PBOC and the dollar problem
• Global dollar liquidity shortage
• Future changes in global reserve currencies

We strongly recommend that you download the chart book that accompanies this episode's postgame segment, as Erik and Patrick will refer to it throughout the segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Grant Williams to MacroVoices. Erik and Grant discuss:

• Global negative yielding debt
• US Treasury market and equity market
• Outlook on MMT and monetary policies
• Is the inverted yield curve an indicator for recession?
• Is US stock market recession-proof?
• Outlook on gold and other precious metals
• "Unicorn" companies

We strongly recommend that you download the chart book that accompanies this episode's postgame segment, as Erik and Patrick will refer to it throughout the segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Danielle DiMartino-Booth and Peter Boockvar to MacroVoices. They discuss:

• Financial repression
• China and trade war
• Outlook on US dollar
• Europe, the ECB and Chrstine Lagarde
• Outlook on Gold
• What happens next?

In Part 1 they discussed:

• FOMC statement and historic rate cut
• Are we in a currency war?
• Risks of a recession in the U.S.
• Main Street vs. Wall Street
• How do risk assets react to a new QE?
• Inflation risks moving forward
• Modern Monetary Theory

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Erik Townsend and Patrick Ceresna welcome Danielle DiMartino-Booth and Peter Boockvar to MacroVoices. They discuss:

• FOMC statement and historic rate cut
  
• Are we in a currency war?
• Risks of a recession in the U.S.
• Main Street vs. Wall Street
• How do risk assets react to a new QE?
• Inflation risks moving forward
• Modern Monetary Theory

Coming in Part 2:

• Financial Repression
  
• China and Trade War
• Europe, the ECB and Christine Lagarde 
• Outlook on Gold
• What happens next?

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Erik Townsend and Patrick Ceresna welcome Daniel Lacalle to MacroVoices. Erik and Daniel discuss:

• Is Trump starting a currency war with China?
• What are the risks of competitive devaluation
• Is the bond market signaling a bear market?
• Global demand for dollars driving monetary policy
• What risks and repercussions MMT poses on the economy
• Outlook on yields and US treasury market
• Negative yielding European junk bonds
• Outlook on gold and its new correlation to the dollar
• Outlook on emerging markets

We strongly recommend that you download the chart book that accompanies this episode's postgame segment, as Erik and Patrick will refer to it throughout the segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Ronald-Peter Stöferle to MacroVoices. Erik and Ronald discuss:

• Why gold is an important asset to own
• Correlation between gold and bond yields
• Brief history of gold
• Outlook on the bonds and interest rates
• Global De-dollarization and sovereign gold holdings
• What does the momentum of recent gold breakout mean?
• What effect does monetary policy have on gold
• Correlation between gold and inflation
• Why inflation will be a concern for 2H19
• Gold as equity hedge
• Importance of understanding the stock to flow ratio for gold

We strongly recommend that you download the chart book that accompanies this episode's postgame segment, as Erik and Patrick will refer to it throughout the segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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SPECIAL POST GAME GUEST- Danielle DiMartino-Booth: Follow up on FOMC

• Is this a midcycle adjustment
• Will the ECB cut in September
• What is the next move for Powell

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Erik Townsend and Patrick Ceresna welcome Dr. Peter Warburton to MacroVoices. Erik and Dr. Warburton discuss:

• “Blowing Up the Box” – what is the policy box?
• Factors that affect long term outlook for inflation
• History of inflation and policy framework
• Inflation is necessary for successful financial repression
• What is causing the “policy box” to be redesigned
• History of inflation targeting and inflation controls
• Driving factors for inflation expectations
• Is the recent breakout in gold a sign of inflation?
• Outlook on next QE
• Is stagflation imminent?

We strongly recommend that you download the chart book that accompanies this interview, as Erik and Dr. Warburton will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Jim Rickards to MacroVoices. Erik and Jim discuss:

• Private debt problem and its breaking point
• Progression of growing debt
• History of US government debt to GDP ratio
• History of the US treasury market
• Cost of low growth and high debt
• Drivers of inflation- confidence not money supply
• Why Modern Monetary Theory is flawed
• Why the current International Monetary System is unstable
• Jim’s new book “Aftermath: Seven Secrets of Wealth Preservation in the Coming Chaos”

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Erik Townsend and Patrick Ceresna welcome Jesse Felder to MacroVoices. Erik and Jesse discuss:

• Divergence in market breadth
• Theories on the length of this market cycle
• Outlook on US dollar
• Divergence in bond market
• Outlook on bond yields
• Unwind of institutional risk parity trade
• Value investing strategy in overpriced market
• Outlook on Gold & Silver
• Facebook's Libra and cryptocurrency
• Wealth inequality dichotomy and surveillance capitalism

We strongly recommend that you download the chart book that accompanies this episode's postgame segment, as Erik and Patrick will refer to it throughout the segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome John Netto to MacroVoices. Erik and John discuss:

• What’s driving this market?
• Where is gold heading next?
• Key macro factors driving markets
• Outlook on fixed income market
• Risk budget vs. Sharpe ratio
• Limitations of Sharpe ratio
• Outlook on the Mexican Peso 
• How to apply sentiment indicators to investing strategy
• Trader psychology
• Macro analysis using Netto numbers

  We strongly recommend that you download the chart book that accompanies this episode's postgame segment, as Erik and Patrick will refer to it throughout the segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Marin Katusa to MacroVoices. Erik and Marin discuss:

• Outlook on Uranium
• Breakout in gold and what does that mean?
• Current situation and outlook on oil prices
• Spike in energy prices and geopolitics
• Perspective on shale oil over the next decade
• Where are the buy levels for oil in the big picture
• How to play the energy sector
• Opportunistic investing strategy

 We strongly recommend that you download the chart book that accompanies this episode's postgame segment, as Erik and Patrick will refer to it throughout the segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

$1500 Discount on Katusa Research Newsletter Subscription 

Katusa Research May Newsletter 

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Erik Townsend and Patrick Ceresna welcome Greg Weldon to MacroVoices. Erik and Greg discuss:

• Outlook on the dollar
• The Fed as the world’s central bank
• Demand vs. effectiveness of the dollar
• Interest rate differentials and its correlation to the dollar
• The Fed’s concern regarding the credibility of their inflation target
• Outlook on gold
• Commodity indicators as economic leading indicators
• Risks of monetary policies in Europe
• Term structures of grains
• Outlook on geopolitics and oil
• Gold vs. gold mining shares – where is the opportunity?

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SPECIAL POST GAME GUEST- Pete Wargent: Update on Australian Housing Market

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SPECIAL POST GAME GUEST- Adam Collins: Putting CoT data into context

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Erik Townsend and Patrick Ceresna welcome John Greenwood to MacroVoices. Erik and John discuss:

• Where are we in the business cycle and what comes next?
• The mechanics of what really drives the cycle
• Understanding the importance of broad money
• Relationship of money growth and GDP
• The signs at the end of the business cycle
• The role the debt plays in the business cycle
• Money supply measured by M2/M3
• Money and the shadow banking system
• Broad money growth vs. inflation average

We strongly recommend that you download the chart book that accompanies this interview, as Erik and John will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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