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 348 was produced on November 3rd, 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.

One River asset management founder and CIO, Eric Peters returns as this week's feature

interview guest. We'll discuss why Eric thinks that post-pandemic patterns in everything

from inflation to supply chain disruptions yields a conclusion that we've moved from

a paradigm of mean reversion to a new paradigm of reflexivity.

And I'm Patrick Sarresna. Listeners, be sure to stay tuned for our post-game segment

after Eric's feature interview with Eric Peters, where Eric, Nick and I discuss the reactions

to the FOMC hawkishness on the S&P 500, the VIX, and that US dollar move as well will

touch on crude oil, gold, uranium, and the tenure treasury yield. Now, Eric, before we move

on to the feature interview with Eric Peters, let's cover crude oil, starting with those

EIA inventory numbers. EIA posted a crude oil drawdown of 3.1

million barrels, which was huge against expectations of a build of 267,000 barrels. But boy, if you

look at what really happened, it was actually a 5 million barrel drawdown if you adjust

for the 1.9 million that was taken out of the SBR, offsetting that draw to yield 3.1 million

that was actually reported by EIA. Meanwhile, API this week, that's the private service,

...