This is Macro Voices with hedge fund manager Eric Townsend, the free weekly financial

podcast targeting professional finance, high net worth individuals, family offices, and

other sophisticated investors. Macro Voices is all about the brightest minds in the world

of finance and macroeconomics telling it like it is. Bullish your bearish, no holds

barred. Now here are your hosts, Eric Townsend and Patrick Sarasna.

Macro Voices Episode 179 was recorded on August 8, 2019. I'm Eric Townsend. This

episode of Macro Voices is brought to you by top traders on plug.com. The only podcast

dedicated to quant and rules based investing, which I highly recommend. Gold broke through

$1,500 an ounce this week. That's fully $150 an ounce above the key resistance level at

$13.50 to $13.77, which had been in place for the last five years. So we're bringing

you a gold special this week and there will be plenty more precious metals related

content in coming weeks on Macro Voices. Ronnie Sturphalut, fund manager and principal

author of the highly respected in gold we trust report will be joining me as this week's

feature interview guest and will cover a host of topics ranging from fundamentals to

current technical levels. Be sure to stay tuned for our post game segment after the feature

interview when Patrick and I will take a big step back from our market wraps, usual

short time frame perspective and discuss the big picture explaining why I'm convinced

that gold will be the asset to own in the next decade. And I'm Patrick Sarasna. Now, Eric,

let's dive right into this S&P 500 because that's some pretty serious volatility we've

been seeing. What's your take on what's happening in the markets? Well, we've already retraced

50% of the panic move down. I think that it's probably no surprise that we had this panic

move down. The question is what's next? And I think it really hinges on what President

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