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 277 was recorded on June 24th, 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 Abra Silver Resource

Corporation, a premier emerging silver and gold exploration company, ticker ABRA on TSM

Venture and ABBRF in the United States. Daniel LaCalle is back as this week's feature

interview guest. Daniel says inflation is coming, but he doesn't worry about it running away

or becoming a major economic challenge. We'll also explore Daniel's thoughts on both cryptocurrency

and sovereign digital currencies and much more. Then be sure to stay tuned for our post-game

segment after the feature interview when Patrick's Chart Deck is titled Post FOMC Post Mortem.

And I'm Patrick Sarresna. Now Eric, let's get to that S&P 500. Obviously, a quick sell-off that

happened right at the tail end of last week stopped right at its moving averages. And here we are

pretty much almost making a 52 week new high, but seems so much more of the same. Anything new on

your reviews on the S&P? Well, Patrick, if I just look at the chart, what I see in the

technicals is all the sudden the the stochastics are really taking a nose dive. But still, if I look

at the tape action, we're down to the 34 day moving average. Big deal. Every dip is being bought here

in this bull market. I am absolutely persuaded by the argument that these valuations are crazy

and this market is nuts in it ought to crash. But you know what? I was saying that before anybody

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