Max talks to Alasdair Macleod, head of research at GoldMoney.com, about the geopolitical implications of gold failing to clear, the dislocation in the gold markets.
The interview starts at about 13 minutes.
Archive for Podcasts / Videos
GATA´s Chris Powell speaks with Alasdair Macleod
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.
Building a concrete airplane: politics in Brussels
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.
This podcast was recorded on the 30 May 2013.
A new global currency; the rise of the East; and peak oil
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.
This podcast was recorded on 23 May 2013.
Mark Skousen: “Bad government drives out good business.”
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.
This podcast was recorded on 21 May 2013.
John Butler – QE and a Misesian crack up boom
Episode 124: A few hours ago Alasdair Macleod chatted with John Butler, author of The Golden Revolution (Wiley, 2012) and the Amphora Report investment newsletter.
John briefly details his motives for writing The Golden Revolution before the discussion moves onto the latest knockdown in gold against the current news stories regarding global demand.
From weak hands to strong, from West to East, from paper to physical, once a floor is found and the physical supply becomes tight, both Alasdair and John agree that the market will then start to clear at higher prices.
John then shares his view on the effects of quantitative easing in the US and questions how much of the stimulus is actually sustainable and advises one to look deeper into the economic indicators for the real picture.
Alasdair asks John whether he thinks bubbly asset prices are because of bank depositor fears.
It all makes one wonder what is real, what is perception management and are we already on the road to a Misesian crack up boom?
This podcast was recorded on the 16th of May 2013.
Ronnie Stoeferle still trusts gold
Episode 123: Alasdair Macleod talks to Ronnie Stoeferle, author of the popular and comprehensive “In Gold We Trust” report, published by Erste Bank.
Ronnie notes that there is currently deflationary pressure within the market, but suggests this will be opposed and fought vigorously by central banks. This will bring about the end of the current downward price moves in precious metals and herald the next leg higher.
Ronnie then discusses the increase in demand for precious metals in Germany and Austria as a result of the Cyprus crisis, and the anti-cyclical worldwide reaction to the recent drop in the prices of gold and silver.
The conversation then moves onto monetary inflation and how this affects the economy. They speculate how this inflation may eventually push up consumer prices, resulting in 1970s-style stagflation.
This podcast was recorded on 11 May 2013.
Marc Faber: ‘I would probably choose gold’
Episode 119: Alasdair talks to Marc Faber, publisher of the Gloom Boom & Doom Report. Marc discusses his 40 years of experience in capital markets and the lessons he has learned.
He looks at the underlying nature of the American economy and details the problems arising since 2007. Money printing – along with the insidious effects of underreported inflation – is to some extent disguising the sorry state of the US economy. Faber is cautious on China, and when questioned about Cyprus and the loss of depositor funds, raises pertinent points about the problems that deposit insurance may cause and what the ramifications of the bailout conditions in Cyprus may have on otherwise conservative investors.
Listen in for 25 minutes of economic common sense.
This podcast was recorded on 2 April 2013.
The energy conundrum: geopolitics and war
Episode 107: Commodore Steven Jermy – former Strategy Director for the British Embassy in Afghanistan and author of Strategy for Action: Using Force wisely in the 21st Century – talks to GoldMoney´s Alasdair Macleod.
Jermy has a long and distinguished military background and discusses geopolitics and the nature of war. The current conflict in Syria is assessed in a recent historical context and the dynamics behind the political forces are examined. Mr Jermy expresses his thoughts on why western policy in the Middle East may be failing due to strategic misgivings and a lack of cultural understanding.
The political implications of rising inflation in the Middle East are also discussed.
The conversation then moves onto energy. Some interesting points are made about energy returns on energy invested in the oil and gas sectors. Of course no conversation about energy in the modern word can be complete without considering the geopolitical angle, and Jermy shares his opinion about possible events that may play out.
They then cover the Cyprus situation, and the significance of the island’s oil and gas reserves, the NATO bases there and the influence of Russia.
This podcast was recorded on 20 March 2013.
Gerald Celente: ‘The officials missed it entirely’
Episode 104: GoldMoney’s Alasdair Macleod talks to Gerald Celente, founder of the Trends Research Institute. Mr Celente expresses his concern with the ballooning Federal Reserve balance sheet and the officials, whom didn´t see the previous crisis and are now responsible for the current solutions. Alasdair Macleod extends this thought to Europe for further discussion.
The art of blowing bubbles and an interest rate renaissance, delivered in the passionately dulcet New York tones of Mr Celente leads on to his current view of how corrupt things have become. From the outrage of the recent admittance by the US Attorney General that some banks may be too big to jail, to the austerity measures and how they are skewed towards advancing such institutions whilst the average man on the street suffers.
The discussion then moves on to geopolitics, old colonial power games, currency wars, and revolutions in Europe. Mr Celente expounds his current thoughts on all of these topics and much more, including an old recollection of Beppe Grillo and why he may hold the key to better-run democracies.
This podcast was recorded on 12 March 2013.