Alasdair Macleod

Author & Head of Research @ Goldmoney

Alasdair Macleod has over 50 years of experience in financial markets, with a focus on monetary history, systemic risk, and the enduring roll of gold. 

He began his career at the London Stock Exchange in 1970, rising to Senior Partner by 1979, and has held senior roles in fund management and private banking, including as Investment Director at Ansbacher (CI) Ltd in Guernsey.

A long-standing commentator on precious metals and unsound monetary policy, Alasdair is widely respected for his clarity, depth, and commitment to helping investors understand how to preserve wealth outside a failing fiat system.

In 2024, he launched his independent platform via Substack, where he continues to provide monetary insights to a global audience.

Alasdair’s expertise enhances our capacity to deliver informed, long-term guidance to our clients.

Alasdair Macleod Articles

Last week the UK's Financial Conduct Authority fined Barclays for rigging the gold price at a gold fix for the disadvantage of a customer and the benefit of the bank's book. This news could not come at a worse time for the London Bullion...
At the outset I should declare an interest. In the 1980s I was a member of the UK's Society of Technical Analysis and for a while I was the society's examiner and lecturer on Elliott Wave Theory. My proudest moment as a technician was...
In the two months since my last update on USD Fiat Money Quantity, it has increased by $292 billion to $12.861 trillion and is still growing rapidly as shown in the chart below. It is now 70.6% above where it would have been if it had...
Many decades of Keynesian-inspired economic and monetary corruption have left advanced economies with a legacy of debt and low savings. In a nutshell, that is the problem which is driving us into another financial crisis. That moment could...
I am often asked whether or not western governments are likely to confiscate gold, and my answer has invariably been on the lines of "unlikely at the moment, because so few people own gold". However given low stock levels in western vaults...
I have been revisiting estimates of the quantities of gold being absorbed by China, and yet again I have had to revise them upwards. Analysis of the detail discovered in historic information in the context of China's gold strategy has...
There is a fascinating story from Robert Peston, the BBC's business editor about his interview with Hank Paulson, who was the US treasury secretary at the time of the Lehman crisis. Paulson said that he was told by the Chinese that they...
Last Monday gold ended a week-long consolidation that saw it fall from $1354 to $1329, before rising strongly to over $1370 yesterday. Not only is Asian demand still outstripping mine supply by a large margin, but physical ETFs such as GLD...
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...

In every cubic mile of sea water there is 25 tons of gold

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