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.
Articles by Alasdair Macleod
This article anticipates the rapidly approaching time when we might be engulfed in a combined currency, asset, and banking crisis. It is becoming clear that such an event can no longer be ruled out.Economists of the Austrian school have...
Tragic though the situation in Ukraine has become, the real war which started out as financial in character some time ago has now become both financial and about commodities. Putin made a huge mistake invading Ukraine but the...
Behind the battle to convince everyone that price inflation is not a lasting problem is the necessity to keep interest rates and bond yields suppressed. In the past, the interest rate cycle was entirely due to the expansion and contraction...
The establishment, including the state, central banks and most investors are thoroughly Keynesian, the latter category having profited greatly in recent decades from their slavish following of the common meme.That is about to change. The...
That the post-industrial era of fiat currencies is coming to an end is becoming a real possibility. Major economies are now stalling while price inflation is just beginning to take off, following the excessive currency debasement in all...
As well as financing escalating government deficits, central banks face an additional problem of replacing contracting bank credit to the non-financial private sector if a slump is to be avoided. The problem comes at the worst...
The European Commission is failing. Its response to Brexit and the pandemic, where it is now threatening emergency powers in order to secure vaccines is a latest throw of the political dice. Even before this development markets were...
This article assesses the likelihood of the pound following the dollar into monetary hyperinflation. Between March and September, the US Government financed twice as much of its spending by bond sales — mostly through inflationary QE —...
This is the third in a series of articles focused on the outlook for major currencies. The first concluded that the US dollar is already on the path of monetary hyperinflation. The second concluded that the euro system is close to collapse...
The Eurozone is bust. The deterioration of TARGET2 imbalances have been hardly noticed, but in recent months it has been alarming. Despite official denials over the years that it is a matter of concern, it is increasingly obvious that the...
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