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 Sarrezna.

Macro Voices episode 271 was recorded on May 13, 2021. I'm Eric Townsend. This episode

is brought to you by Abbex Technologies pioneering the design of smarter markets that better

meet the needs of both market participants and society as a whole. And by Genesis Volatility,

provider of institutional grade, crypto options, analytics.

Harley Basman returns as this week's feature interview guest for years. Harley's been

on a personal mission to figure out how to make institutional hedging tools available

to retail investors because Harley sees a risk of a long-term interest rate back up

in coming years that could create a much worse threat than the 2008 financial crisis. We'll

talk about the risk currently sees why he thinks it's so important to hedge against and

the new ETF that he's just launched in order to make runaway interest rate insurance available

to everyone who wants it. Then be sure to stay tuned for our post-game segment after the

feature interview when Patrick and I will discuss Tesla, cryptocurrencies, and much more.

Now Patrick Sarasna, Eric, let's jump to the S&P 500 Volatility's back. We had a pretty

quick sell-off here down toward that 50-day moving average and lots to talk about even

in the post-game. But what's your take on the markets here?

Well Patrick, let's see what I said last week is, as long as we stay above the 50-day

moving average, seems to me like every time we hit it, they buy the dip. Now it seems

...