Max interviews Alasdair Macleod of GoldMoney.com about 400 ounce London .995 gold bars being sent to Switzerland from Arab holders and melted down to 1 kilo .9999 bars, thus moving gold from the London standard, to the new better Chinese standard – suggesting we may be entering a post-petrodollar world. In which case, petrodollars could be flowing back into NY in pure dollar form to cause high inflation. And, finally, Max and Alasdair suggest that unless you rig gold markets, your forex and libor-rigging won’t work.
Episode 136: Alasdair Macleod interviews Tony Baird of Baird & Co. Ltd – a London-based Bullion Merchant, refiner and member of the London Bullion Market Association.
Tony discusses the scrap market supply for both gold and silver and how “cash for gold” businesses have contributed to this market in the last few years.
He then details how busy they were during the price dip in April and just who was demanding physical gold and causing backlogs at all the major refiners. A boots-on-the-ground view from the physical bullion market that sheds fascinating light on the refining business and the recent supply and demand for physical gold.
Episode 135: Alasdair Macleod interviews Chris Casey, Managing Director at WindRock Wealth Management. Given the recent gyrations in all asset classes, Alasdair asks Chris for his opinion on why this is happening, and the taper or not to taper debate that is taking place at the Fed and in the media.
Chris voices concern about the possible advent of inflation even though it is not generally expected and why it may be understated presently. The two men then discuss runaway US deficits and how this will affect markets.
Alasdair then turns the discussion to silver and asks Chris how he views the market and the current conditions with regards to industrial use versus demand and supply.
Episode 130: Alasdair Macleod talks with Chris Powell from GATA (The Gold Anti-Trust Action Committee). Fascinating from the get go, Chris details how he became involved in the founding of GATA all those years ago back in 1999.
Well known in the gold circles, Chris has tirelessly fought against the collusion to control the price and supply of gold and is widely admired for his erudition in this matter and the time he dedicates to GATA, a non profit organisation, which pursues justice and free financial markets.
Alasdair enquires as why the evidence of this collusion that GATA has obtained over the years never seems to be mentioned or investigated by mainstream financial writers who still remain somewhat reticent to the GATA case.
Chris elaborates on the treatment of the media, the last few years’ relationship with the US regulators, whom have heard the arguments of GATA, before moving onto the recent downward price moves.
This podcast was recorded on the 4th of June 2013.
Episode 128: Direct from Brussels, Alasdair Macleod interviews Godfrey Bloom, a member of European Parliament who represents the United Kingdom Independence Party (UKIP).
Godfrey serves on the Economic and Monetary Affairs committee in Brussels and brings great insight into the bureaucratic nature of political life within the EU parliament. Unashamedly dismissive of the work of these regulators, he believes their intentions are akin to building a concrete airplane.
Alasdair then questions Godfrey about how UKIP could influence economic policy in the United Kingdom if they were to win some seats in future national elections. Godfrey mentions a battle he’d like to see taken up – getting Whitehall to even ponder beyond Keynesian and monetarist economic policies.
Episode 126: Alasdair Macleod interviews Erik Townsend – a specialist on “peak oil investing” and a contributor to the popular Financial Sense website.
Erik sees short-term strength in the dollar due to capital flight out of other markets. But long term, America’s problems will mount, and the country will need to address serious issues. This could result in the relatively-peaceful emergence of a new global currency system, but whether the central planners could avoid an inflationary collapse prior to such an event is questionable.
Both men muse on the reactions to the latest Fed comments, and how quickly markets react to perceptions of the stimulus “punch bowl” being withdrawn.
Erik sees a gradual long-term movement of wealth from West to East. The power games that surround this historical dynamic will affect the commodities market in intriguing ways.
The duo finish off with discussion of the energy section – one of Erik’s speciality subjects.
Episode 125: Alasdair Macleod interviews the intellectual Mark Skousen, who has recently been added to a list of the top 20 most influential living economists, and has also had a business school named after him for his contribution to economics.
Mark has a deep understanding of free market principles and Austrian economics. He shares his views on the near term future with Alasdair. Mark currently sees positive aspects within the private sector, but harbours concern with regards the public sector.
Mark and Alasdair discuss governments, their largess, and their inability to face up to the severity of the fiscal issues they face. The two men discuss the reality and perception of European “austerity”. Are governments really practicing austerity?
The conversation then moves eastwards to Japan for more insight, and then finally onto the gold market.
Skousen has made some very big – correct – market calls in the past, and also produces freedomfest.