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

In “The General Theory of Employment, Interest and Money”, Keynes virtually created macroeconomics. But Keynes was a mathematician, not an economist, and did not fully understand free markets, so he was hardly qualified to emerge as the...
Growing evidence of a severe global recession is sure to provoke more aggressive monetary policies from central banks. They had hoped to have the leeway to cut interest rates significantly after normalising them. That hasn’t happened....
Introduction

It should have been no surprise that Boris Johnson is now Prime Minister. It should also be no surprise he will implement Brexit on 31 October, the last date agreed between Mrs May’s government and the EU. Johnson was...
Silver’s recent price performance has been disappointing. Normally, it is almost twice as volatile as gold, so when the gold price rises 11%, as it has since last December, you would expect silver to rise about 20%. Instead it has fallen...
Behind the scenes, the financial war between America and China is escalating dangerously into a war to secure global financial resources.

At a time of growing liquidation of dollar assets by foreigners, the US Treasury’s internal...
Brexit has been a long, drawn-out saga. But finally, Theresa May’s indecision appears to be coming to an end. She has finally been cornered in a tragic opera with more twists and turns than Wagner’s Ring Cycle. May’s Götterdämmerung is...
Why is it that no one defends free markets, and socialism, despite all the evidence of its failures, comes back again and again? Unsurprisingly, the answer lies in politics, which have always led to a boom-bust cycle of collective...
In my last article I used a proven accounting identity to show that the end result of President Trump’s trade tariffs would be to increase the trade deficit, assuming there is no change in the savings rate. The savings rate is important,...
For decades, Western governments have been pursuing a policy of transferring wealth from the public to themselves, their licensed banks and the banks’ favoured customers by means of interest rate suppression and monetary inflation....
In recent years exchanges and other service providers have been closed amid accusations of fraud and money-laundering. Freedom from national boundaries and the laws that go with them have undoubtedly contributed to criminal activity both...

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During 1500s the Spaniards had taken 16,000,000 kilograms of silver from Peru.