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 334 was recorded on July 28, 2022. I'm Eric Townsend. This episode

of Macro Voices was made possible by respect energy, a leading European trader of renewable

energy and a one-stop shop for all green energy investors.

By popular listener request, Adam Rosenswag of Garing and Rosenswag joins me as this week's

feature interview guest. Adam shares my view that the world has entered the early stages

of a global energy crisis that will take many years to resolve and he brings some absolutely

fascinating insights about U.S. natural gas prices, which Adam says are about to converge

with much higher European netty prices as U.S. export capacity expands and shale gas

production declines. We'll also discuss gold and the developing fertilizer crisis.

Then be sure to stay tuned for our post-game segment after the feature interview when Patrick's

chart deck will be titled Post-FOMC Market Moves.

Yeah, well the Post-FOMC market move we're going to talk about right now is that S&P 500

rally that's been going on in the last 24 hours and we've seen a move off the lows just

close to 3900 and we're decisively now about 4000 on this S&P. What do you make of this

bull breakout? Do you think it's got some legs near?

Well all of the chatter that I see on Twitter and commentary in the press is, well this 75

basis point hike, which is by the way part of a series of 75 basis point hikes, was apparently

...