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 259 was recorded on February 18th, 2021. I'm Eric Townsend. This episode

is brought to you by ABEC's technologies, pioneering the design of smarter markets that

better meet the needs of both market participants and society as a whole, and by SS&C as delivering

cutting-edge, cloud, mobile, and on-premise solutions to optimize operational and investment

alpha across the entire investment process. Listeners, Macro Voices has failed you again.

We really do agree with all of you who have emailed and tweeted to us to say that we need

to balance the recent series of secular inflationists with a good solid well-respected deflationist.

Problem is, all the smartest macro guys and gals we know have turned into secular inflationists.

And Louis Vincent Gav, Reef Turns is this week's feature interview guest, and he says he's

as inflationista as they come. We'll discuss why and how to trade the upcoming inflation.

Then be sure to stay tuned for our post-game segment when macro-tourist blogger Kevin

Mure joins us to discuss why he thinks investors need to understand the Treasury General

account, and particularly why more than a trillion dollars is going to flow out of it in the

next couple of months. We'll discuss what the TGA is and why Kevin thinks it's about

to transform from financial trivia that nobody cares about into what could potentially become

the center of a crisis Kevin thinks everyone will care about.

And Patrick Sarasdan, Eric, let's jump to that S&P 500. It's been a relatively flat week.

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