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 278 was recorded on July 1, 2021, Canada Day, and I'm Eric Townsend.

This episode is brought to you by ABIC's technologies, pioneering the design of smarter

markets that better meet the needs of both market participants and society as a whole.

And by escrow.com, the world's most secure online payment system from a counterparty risk

perspective because the funds sit in escrow.

One River Asset Management CIO, Eric Peters has been in the news quite a bit lately as

he is new venture, One River Digital has become one of the most voracious buyers of Bitcoin.

Eric returns as this week's feature interview guest will discuss secular inflation and the

digital currency revolution in detail. Then be sure to stay tuned for our post game segment

after the feature interview when Patrick's chart deck is titled Looking Under the Hood.

And I'm Patrick Sarrezna, Eric. Let's talk about these markets, S&P 500. Finally made it above

the 4300 level as time of recording here. What's your take on this market? Same thing,

different day as far as I'm concerned Patrick. All of the smartest logical arguments that

anybody makes all say the markets way overvalued and it keeps going up anyway.

Sounds to me like a crack up boom and incipient secular inflation. And I think probably we

got a long ways to go. I think if this is inflation driven, which is what I suspect,

there's room for plenty of more upside. Eventually this has to end very badly. I don't think these

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