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
This article looks at prospective supply and demand factors for financial assets in the New Year and beyond. Investors should take into account money flowing into and out of financial assets as well as stock flows, particularly escalating...
For gold bulls, 2018 was disappointing. From 11 December 2017, when gold made a significant bottom against the dollar at $1243, it has ended virtually unchanged today, after being 4.2% up. Gold had to struggle against a rising dollar,...
Since 1981, interest rates have been in a secular decline, falling from 20% to zero in US dollars. They are now on the rise, but the general assumption is the current low interest rate environment will broadly continue. This view is...
We can be reasonably certain that Chinese government officials approaching middle age have been heavily westernised through their education. Nowhere is this likely to matter more than in the fields of finance and economics. In these ...
We are getting ahead of ourselves here. Gold does not circulate as money – yet. It might never do so. Perhaps the end of government currency, fiat money imposed on us by government laws, may never be replaced by what for millennia has been...
We are getting ahead of ourselves here. Gold does not circulate as money – yet. It might never do so. Perhaps the end of government currency, fiat money imposed on us by government laws, may never be replaced by what for millennia has been...
The next credit crisis poses a major challenge to China’s manufacturing-based economy, because higher global and yuan interest rates are bound to have a devastating effect on Chinese business models and foreign consumer demand. Dealing...
I have had a request from Mrs Macleod to write down in simple terms what on earth is going on in the world, and why is it that I think gold is so important in this context. She-who-must-be-obeyed does not fully share my interest in the...
Until the 1970s, all recorded history showed that bond yields were tied to the general price level, not the rate of price inflation as commonly believed. However, since then, the statistics say this is no longer the case, and bond yields...
We are on the verge of moving into an era of high interest rates, so markets will behave differently from any time since the early-1980s. There are enough similarities with the post-Bretton Woods era of the 1970s to give us some guidance...
