This is Macro Voices, the free weekly financial podcast targeting professional finance, high net worth individuals, family offices, and other sophisticated investors.

Macrovoices is all about the brightest minds in the world of finance

and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are

your hosts, Eric Townsend and Patrick Suresna. Macrovoices episode 516 was produced on January 22nd,

2026. I'm Eric Townsend. Craig Tyndale is a name

you might not know, but his recent substack post highlighting geostrategs created by offshoring the

dirty business of midstream commodities production has caught the attention of both the Pentagon

and the White House.

Craig is also a longtime macrovoices listener, and he'll join me as this week's

feature interview guest. We'll discuss why China is holding all the cards, and how those

cards were served to them, not only on a silver platter, but on a platter made from silver

mined elsewhere, but refined in China.

Then be sure to stay tuned for our postgame segment after the feature interview, when we'll

have Patrick's trade of the week, plus our latest perspective on all the major markets.

And I'm Patrick Suresna with the macro scoreboard week over week as of the close of Wednesday,

January 21st,

2006. The S&P 500 index down 74 basis points, trading at 6875, geopolitics creating some volatility,

but the key support lines are still holding. We'll take a closer look at that chart

and the key technical levels to watch

in the postgame segment. The US dollar index down 26 basis points trading at 9879. The March

WTI crude oil contract down 204 basis points trading at 6062. Now while the price is off of last week's levels, we are seeing key supports holding.

The March Arbob gasoline up 108 basis points to 188. The February gold contract, up 436 basis points

...