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

The benefits of a deflation of prices brought about by a combination of sound money and markets free from government intervention have been demonstrated to be the best economic environment, the denial of which in favour of inflationary...
“Because your question searches for deep meaning, I shall explain in simple words.”

– Dante, Inferno

Periodic economic destruction by bank credit is not new. It has been a problem for millennia. The basis of it, the ownership of bank...
Given the current fiat money system is on a path towards its own destruction it is not surprising that there has been increasing talk of a monetary reset. Without a completely different approach and by retaining the same institutions and...
Brexit will be done by the end of next month, when trade negotiations with the EU will begin. Importantly, Britain’s negotiating position has strengthened immeasurably, and the new government is not afraid to use it.

This Conservative...
America’s tariffs against China are already showing signs of undermining the global economy and will create a funding crisis for the Federal Government when it leads to foreigners no longer buying US Treasury debt and selling down their...
The legal formalisation of the creation of bank credit commenced with England’s 1844 Bank Charter Act. It has led to a regular cycle of expansion and collapse of outstanding bank credit.

Erroneously attributed to business, the origin of...
Germany suffered two currency collapses in the last century, in 1920-23 and1945-48. The architect of the recovery from the former, Hjalmar Schacht, chose to cooperate with the Nazi successors to the Weimar Republic, and failed. In that of...
Last week’s failure in the US repo market might have had something to do with Deutsche Bank’s disposal of its prime brokerage to BNP, bringing an unwelcome spotlight to the troubled bank and other foreign banks with prime brokerages in...
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....

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Spanish Conquistadores invaded the Inca Empire in 1528 to steal their silver and gold.

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