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 308 was recorded on January 27, 2022. I'm Eric Townsend. This episode

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

serve the needs of both market participants and society as a whole. And by Masterworks,

the billion dollar alternative investment platform that lets you invest in art by legends

like Warhol and Picasso for a fraction of the cost.

Precious metals grew Ronnie Sturphley returns as this week's feature interview guest.

We'll start with the big picture of what's going on with the Federal Reserve and this

week's equity market volatility and then we'll move on to a Precious metals chart tech

I know you're going to love. Then be sure to stay tuned for our post-game segment when

Patrick's chart tech is titled Is the Market Bottom In.

And I'm Patrick Sarresna, Eric. Let's just jump straight into the stock market. When we

were recording last Thursday, everything was still a little bit of calm because we recorded

before the market closed. And just in one week, amazing how rapidly this turned into a volatile

down draft, pulled down. We basically have traded all the way down to the September lows,

a solid, over 10% market correction on the downside. And even on the FOMC, the market

rally seemed to be very short lived on the reaction. What's your take on all of this?

Patrick, I think it's absolutely essential to understand what message the market is sending

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