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

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...
There are two main indices tracked by commodity tracker funds: the S&P-Goldman Sachs Commodities Index and the Dow Jones UBS Commodities Index. According to S&P Indices (which manages both), total assets estimated at $155bn track...
The future price of gold cannot be discussed without considering its implied discount rate expressed through time-preference. This is the relative desire to own goods at an earlier date rather than later. There are several reasons gold is...
Yes folks, it's that time of year again; but unlike old Khayyam who reflected bucolically on the continuing availability of wine, we must turn our thoughts to the dangers and opportunities of the coming year. They are considerable and...
By November, the most recent month for which statistics are available, the US Fiat Money Quantity (FMQ) had grown to $12.351 trillion. This is $4.96 trillion more than it would be if it had grown in line with the established average...
Now we know: The Fed is going to purchase $75bn of assets, a reduction of $10bn a month. The two other bits of information that came from the FOMC meeting were that purchases of US Treasuries and mortgage bonds are to be cut by $5bn each,...
There is inevitable speculation that tapering might be announced at the FOMC meeting this Wednesday. It should be noted that this is Ben Bernanke’s swansong, and if tapering is to be announced he would probably go out with falling bond...
For many commentators there are two distinct camps in the gold market: investors in bullion and speculators in the paper market. With the two markets pulling in different directions some dealers think it is only a matter of time before...

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One ounce of gold is so ductile it can be drawn into a wire 50 miles long