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
Markets have fully adjusted to a financial world which reflects the leadership and management of money by central banks and are increasingly frightened of any prospect of their control failing. Every time the system stumbles, the response...
David Cameron, Britain’s Prime Minister, has negotiated terms with the other EU member states, which he feels justified to put to voters in an in/out referendum called for 23rd June. At this early stage in the campaign, the terms are not...
Parents will tell you the most difficult questions to answer sometimes come from their children. Here are some apparently innocent questions to ask of economists, journalists, financial commentators and central bankers, which are designed...
One can understand the Fed’s frustration over the failure of its interest rate policy…and its desire to escape the zero bound. However, since the FOMC has all but said it will increase rates at its December meeting, events have turned...
Your country faces a stagnating economy. Let us assume your Prime Minister (or President if that is who holds the executive power) seeks advice from two imaginary economists.
PM: You two economists have different views on what our...
PM: You two economists have different views on what our...
Believe it or not, one of the topics in economics that confuses macroeconomists is the actual role of interest rates. For the most part they just assume that an interest rate is the cost of money, the price of money, or even the transfer...
Since the 1980s, markets have had to adapt to a world of infinite credit. Of course, this credit has not been available to everyone: it has been principally deployed in favour of governments, financial markets, and big business. It amounts...
Gold is money, admittedly not often circulating as such today. Fiat currencies issued by governments have driven gold out of circulation. But where does this leave silver?
Money-substitutes, bank notes and bank deposits, were originally...
Money-substitutes, bank notes and bank deposits, were originally...
The sudden end of the Fed’s ambition to raise interest rates above the zero bound, coupled with the FOMC’s minutes, which expressed concerns about emerging market economies, has got financial scribblers writing about negative interest...
In the early days of central banking, one primary objective of the new system was to take ownership of the public's gold, so that in a crisis the public would be unable to withdraw it. Gold was to be replaced by fiat cash which could be...
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