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
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...
It is now possible to pencil in how the next credit crisis is likely to develop. At its centre is an overvalued dollar over-owned by foreigners, puffed up on speculative flows driven by interest rate differentials. These must be urgently...
We appear to be at a turning point not only for the dollar, but for all commodity markets, including precious metals, as well. The dollar has yet to reflect properly the enormous monetary expansion of recent years, and commodities will be...
Most people are aware that historically there have been speculative bubbles. Some of them can even name a few – the South Sea bubble, tulips, and more recently dot-coms. Some historians can go even further, quoting the famous account by...
This week’s collapse of the Turkish lira has dominated the headlines, and it is widely reported that this and other emerging market currencies are in trouble because of the withdrawal of dollar liquidity. There are huge quantities of...
In this article I point to the pressures on the Fed to moderate monetary policy, but that will only affect the timing of the next cyclical credit crisis. That is going to happen anyway, triggered by the Fed or even a foreign central bank....
Regular readers of Goldmoney’s Insights should be aware by now that the cycle of business activity is fuelled by monetary policy, and that the periodic booms and slumps experienced since monetary policy has been used in an attempt to...
The EU (Euro Union) as a political construction is in a state of terminal decay. We know this for one reason and one reason alone: its core principal is the state is superior to its people. A system of government can only work over the...
