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

Most of us are aware of the inflationary pressures in the major economies, which so far are proving somewhat latent in the non-financial sector. But some central banks are on the alert as well, notably the Federal Reserve Board, which has...
It seems extraordinary that in defiance of all factual history and philosophical knowledge anyone should celebrate the bicentenary of the birth of Karl Marx. More than anyone, through wrong-headed ideas, he bears responsibility, indirectly...
Artificial intelligence (AI) is seen as both a boon and a threat. It uses our personal data to influence our lives without our realising it. It is used by social media to draw our attention to things we are interested in buying, and by our...
The debates about Brexit and President Trump’s trade machinations have demonstrated the blindness of otherwise intelligent people to the Law of Comparative Advantage. Let me attempt a contemporary definition:

“The Law of Comparative...
 “Naïve inflationism demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of the money.” 
― Ludwig von Mises, The Theory of Money and Credit

It is hardly...
The measure of a man's real character is what he would do if he knew he would never be found out. Lord Macaulay wrote this nearly two hundred years ago. His aphorism is particularly apposite of modern politicians, and also of the modern...
An overt trade war has commenced. President Trump has fired the starting gun, setting in motion an election promise, part of his Make America Great Again undertaking. It is a blow squarely aimed against China, costing China some trade...
In a recent article I postulated that the dollar could lose all its purchasing power with a rapidity that will come as an unpleasant bombshell, even to those who already see inflation as society’s greatest problem in the future. The key to...
“While it is the duty of the citizen to support the state, it is not the duty of the state to support the citizen” – President Grover Cleveland

The point President Cleveland made back in the 1880s was that individuals and vested...
The timing of any credit crisis is set by the rate at which the credit cycle progresses. People don’t think in terms of the credit cycle, wrongly believing it is a business cycle. The distinction is important, because a business cycle by...

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Indian gold demand muted at festival, buyers hope for lower prices