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 2013 was recorded on April 2nd, 2020. I'm Eric Townsend. This episode

of Macro Voices is brought to you by top traders on plug.com, a podcast dedicated to

Quant and Rules-based Investing, helping investors overcome behavioral biases, and by my own

vacation rental on the coast of Maine, which I'm repurposing as a COVID-19 safe haven for

a family that wants to escape city life for a few months during this crisis. The house

is available right now and I'll tell you about it later on.

This episode of Macro Voices is dedicated to health care workers all over the world,

who without a doubt are the true heroes of the COVID-19 pandemic crisis. Last week, we

were treated to infinite monetary policy accommodation in the form of unlimited quantitative easing

at the pace of $625 billion per week, plus a $2 trillion fiscal stimulus bill. Just when

everybody thought surely it was over, this week President Trump suggested another $2 trillion

of fiscal stimulus this time in the form of a massive infrastructure spending initiative.

Should we expect the new normal to include $2 trillion per week of new fiscal stimulus

in addition to unlimited monetary stimulus going forward? Well, one thing certain, and

that is that the government's actions are going to debase the value of fiat currency.

So the long term fundamentals for precious metals couldn't look much better. Who could

be a better feature interview guest than Josh Crumb on such an occasion? Josh headed up

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