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Financial repression
Alasdair Macleod – 07 January 2012 This phrase has suddenly started appearing in economic research, and will probably do so more frequently in the coming months. Its origin is a Bank for International...
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Katastrophenhausse
Alasdair Macleod – 11 February 2012 Mainstream economists seem to have a problem understanding prices. They might draw supply and demand curves and talk about elasticity. They are sure to have been...
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Asia’s golden future
Alasdair Macleod – 24 March 2012 For most of the last century the default currency for international settlements has been the US dollar. This has given America ultimate power over international trade....
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A plea for sanity
Alasdair Macleod – 25 April 2012 An article by Professor Lew Spellman has caught the attention of the sharp-eyed, and may indeed be important. Spellman, who in the past has been an economist at the Fed...
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A history of exchange-rate regimes
Alasdair Macleod – 22 August 2012 It’s almost as if currencies are designed to confuse you. In fact, sometimes they even lie to you. Take the pound sterling for example; each 5, 10, 20 and 50 pound...
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The SCO, China, Iran, and gold
Alasdair Macleod – 07 October 2012 I make no apology for returning to the subject of China, its role in the Shanghai Cooperation Organisation, and gold. Gold is now a strategic metal for present and...
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Money printing is the only thing keeping the system afloat
Alasdair Macleod – 14 October 2012 Last Monday GoldMoney published my article showing the frightening growth in money-quantities for the US dollar. In that article I stated that the hyperbolic rate of...
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The value of the dollar
Alasdair Macleod – 09 December 2012 I very rarely criticise the work of others, but I am going to make an exception in the case of Paul van Eeden, of Cranberry Capital. Mr van Eeden, in an interview...
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Why price inflation will take off
Alasdair Macleod – 03 February 2013 There are key aspects of economics that neo-classical monetarists do not apparently comprehend; the most important, given their job-description, being the...
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Money supply accelerating
Alasdair Macleod – March 25, 2013 The monthly figures for the US dollar components of Austrian, or True Money Supply, for February are now in. TMS plus excess reserves amount to the quantity of money...
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Gold versus the money supply
Alasdair Macleod – 15 July 2013 In a recent article I introduced the concept of allowing for the increased quantity of aboveground gold and the expansion of the quantity of dollar currency over time...
View ArticleThe unstoppable growth of US money supply
Alasdair Macleod – 27 September 2013 After all the fuss about tapering, it is worth remembering that central banks can and do expand the money quantity without quantitative easing. Put simply, so long...
View ArticleAll currencies are an inverse pyramid based on the dollar
Alasdair Macleod – 21st February 2014 When US money supply measured by M2 stood at $11 trillion in December 2013, I calculate that total broad money of the next largest 50 countries ranked by GDP...
View ArticleRussia’s monetary solution
Alasdair Macleod – 28 November 2014 The hypothesis that follows, if carried through, is certain to have a significant effect on gold and the relationship between gold and all government-issued...
View ArticleSpare dollars
Alasdair Macleod – 12 December 2014 Last week I wrote that contrary to the prevailing mood US dollar strength could reverse at any time. This week I look at another aspect of the dollar, which almost...
View Article2015: the year of the slump?
Alasdair Macleod – 09 January 2015 2014 ended with two ominous developments: the strength of the US dollar and a collapse in key commodity prices. It is tempting to view both events as one, but the...
View ArticleAn Austrian take on inflation
We know that today’s macroeconomists are very confused about inflation, if only because despite all experience they think they can print money and increase bank credit with a view to generating price...
View ArticleThe over-valued dollar
Alasdair Macleod 16 April 2015 There are two connected reasons usually cited for the current dollar strength: the US economy is performing better than all the others, leading towards relatively higher...
View ArticleCommodity losses
Markets have been extraordinarily complacent about the bad debts building up in the financial system. In the wake of the Fed’s decision to raise interest rates this week, the effect on debt was barely...
View ArticleShorting the yuan is dangerous
Last Sunday (31 January) Zero Hedge ran an article drawing attention to the big names in the hedge fund community who are betting heavily that the yuan will suffer a major devaluation any time between...
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