Alasdair Macleod

Alasdair became a stockbroker in 1970 and a Member of the London Stock Exchange in 1974. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. After 27 years in the City, Alasdair moved to Guernsey. He worked as a consultant at many offshore institutions and was an Executive Director at an offshore bank in Guernsey and Jersey.

Alasdair Macleod Articles

According to Garet Garrett in his book "A Bubble that Broke the World" Cheops employed 100,000 men for twenty years to build his great pyramid, "and all he had for 600,000,000 days of human labour was a frozen asset." Cheops's distortion...
Earlier this week Bill Gross who runs Pimco's bond fund made a conditional case for investing in high-yielding bonds, even though on first cut the yield benefit appears insufficient to justify the extra risk. Put bluntly, he suggests that...
The chronological events of 2013 set the background for gold in 2014. It was a momentous year which should ensure a rise in the gold price in 2014. Before 2013 demand for physical ETFs was high. At the same time Asian demand, from China,...
When US money supply measured by M2 stood at $11 trillion in December 2013, I calculate that total broad money of the next largest 50 countries ranked by GDP amounted to the equivalent of a further US$67 trillion at current exchange rates...
The China Gold Association this week released estimates for China's "gold consumption" for 2013 at 1,176 tonnes. Furthermore the CGA reported China's own gold production at 428 tonnes. The CGA's figures were significantly less than...
When Lehman collapsed in 2008, the world stopped while the Fed implemented its plan to rescue America's banks and the world's financial system. This was achieved by making unlimited money available to the banks, and the stimulus has...
Thanks to the Fed's tapering, a wider public is becoming aware of currency instability in diverse economies, from Turkey to Argentina, and India to Indonesia. Indeed, on Tuesday night Turkey raised overnight interest rates by a whopping 4....
By December, the most recent month for which statistics are available, the US dollar Fiat Money Quantity (FMQ) had grown to $12.48 trillion. This is $5.05 trillion more than if it had grown in line with the established average monthly...
According to Reuters, Deutsche Bank has decided to quit as a member of the gold and silver fixing committees in the London bullion markets. This news comes after Deutsche Bank was instructed in mid-December by BaFin, Germany’s bank...
A number of readers and bloggers have recently suggested there must be collusion between America and China over the transfer of physical gold from Western capital markets. They assume that governments know what they are doing, so there is...

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Gold is still being mined and refined at the rate of almost 2,600 tonnes per year.