Erik Townsend and Aaron Chan welcome Alex Gurevich to MacroVoices. Erik and Alex discuss market reaction to latest FOMC policy decision, importance of placing current Fed actions in the context of historical rate-hiking cycles, egregiously cheap valuations on 10-year Treasury Notes, gold's positive risk-reward and return expectations in the coming years, China's $30 trillion private debt unwind and history of imperial collapse, and much more.