Crypto Credibility
Last Monday, there was a striking headline in the Daily Telegraph: “Russia looks to bitcoin to soften effects of US Sanctions”. The imme...
Goldmoney Insights
The Arrival Of The Credit Crisis
Those of us who closely follow the credit cycle should not be surprised by the current slide in equity markets. It was going to happen anywa...
Why China should remove all trade tariffs
I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so...
Brexit – where to from here?
The deal has been agreed, subject to Parliament. Mrs May now has the uphill task of selling the deal to MPs. The overwhelming majority who h...
G20 and the financial war
This weekend, the G20 nations meet at Buenos Aires. The most important issue will be America’s use of trade policy, ostensibly to bring an...
The psychology of systemic consensus
We are all too familiar with established views rejecting change. It has nothing to do with the facts. Officialdom’s mind is often firmly c...
The biggest of big pictures
I have had a request from Mrs Macleod to write down in simple terms what on earth is going on in the world, and why is it that I think gold...
How Gibson’s paradox has been buried
Until the 1970s, all recorded history showed that bond yields were tied to the general price level, not the rate of price inflation as commo...
The Credit Cycle Is On The Turn
We are on the verge of moving into an era of high interest rates, so markets will behave differently from any time since the early-1980s. Th...
Hong Kong and the road to recovery
We are following the road to perdition There is increasing awareness that another financial crisis is in the offing, and, of course, everyo...