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 Sarasna.

Macro Voices Episode 317 was recorded on March 31st, 2022. I'm Eric Townsend. This episode

is brought to you by Abbex 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. Energy economist Phil Verleger returns

as this week's feature interview guest will discuss what the transition to zero carbon

will mean for the economy and financial markets. Then be sure to stay tuned for our post-game

segment when Dakota Gold CEO Jonathan Aud will join us to discuss the performance of precious

metals markets, private placement logistics, and much more.

And I'm Patrick Sarasna, Eric. Let's jump into S&P 500. Over two weeks since the FOMC,

the S&P 500's up 500 points. We rose over 4,600 for brief periods. Last couple days,

giving a little bit back. But what a run. What's your take on all of this?

Hey, what's World War III to get in the way of a central bank's fueled bull market, right?

Oh, wait a minute. The central bank fueled part of this is kind of on hold too. So that's the part

that I don't really understand. The fact that the stock market is rallying through World War III

doesn't surprise me because as I've said many times on the show, wars are not generally

bearish the stock market except in the very beginning. On the other hand, the Fed is real and the

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