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 Sarresna.

Macro Voices episode 232 was recorded on August 13, 2020. I'm Eric Townsend. This episode

is brought to you by top traders on Plod.com, a podcast dedicated to quant and rules-based

investing, helping investors overcome behavioral biases.

Stonecs global macro strategist Vincent Deluar joins me as this week's feature interview

guest. Vincent says the 6040 portfolio is headed for a nuclear winter. We'll also discuss

inflation, social unrest, the European market outlook, and precious metals. Then be sure

to stay tuned for our post-game segment after the feature interview. This week Patrick

has prepared a chart book all about how to use options to manage risk in precious metals

markets. And I'm Patrick Sarresna. Eric, let's jump

to that S&P 500, which is touring with its retesting, its February highs. What's your

take on the S&P here? Yeah, I guess we've closed above the previous

close, although I'm not sure if we're at an intraday match to the previous intraday

high. We're right teetering on it. The way I see it, Patrick, why wouldn't it keep

going? People are saying, what if it's a double top? Look at what's going on with the

NASDAQ. Look at what's going on with the fang stocks. They're already well into new

all-time highs. So I don't see why the index wouldn't follow. I do think it's all being

driven by central bank liquidity and by all of the accommodation that the government's providing.

...