Thursday Conversation - Alasdair Macleod

83

Our old friend, Alasdair Macleod of GoldMoney, stopped by today to discuss gold, inflation and central bank policy. On a day like today, where prices are being indiscriminately smashed, a podcast like this can be invaluable in helping you to maintain your focus upon The Big Picture.

And that's what we discuss today...The Little Picture and The Big Picture. To that end, I asked Alasdair to address:

  • the current action in the Comex metals and why CDG is trading tick-for-tick with the POSX
  • how price inflation is being dramatically miscalculated...we again refer to the Chapwood Index
  • what this means for real interest rates
  • and what the central banks will try next as they desperately seek higher levels of inflation as measured by their traditional metrics

In fact, Alasdair just spent a great deal of time writing about all of this and his latest research report was just posted to the GoldMoney website earlier today: https://www.goldmoney.com/research/goldmoney-insights/inflation-running-...

Thanks again to Alasdair for so generously sharing his time today. Please be sure to give this podcast a thorough listen.

TF

  83 Comments

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SteveWKumarGaiden
Sep 5, 2020 - 4:58pm

Vanguard

My thought is your broker works for you. If they won't follow instruction move, it's usually free i.e. paid by receiving broker for modest portfolios.

SteveW
Sep 5, 2020 - 4:23pm

Consols

Interesting that Alasdair mentioned this consolidated debt with no maturity date. It turns out that the last British Consols were redeemed in 2015. If held since the first issuance in 1751 the principal returned would likely have less value than the 3% returned in 1752!

Got gold?

KumarGaidenUSAFirearms
Sep 4, 2020 - 1:23pm

i just hopped on the

i just hopped on the bandwagon, better late than never right? I see plenty of open seats for more passegners

procog
Sep 4, 2020 - 1:10pm

AgStacker

GoldMoney......me also.

Thanks for PerpetualAssets.com referral.

AgStacker
Sep 4, 2020 - 11:48am

Jim Willie interview???

Turd, just wondering if you'll be having an interview with Jim for the Monday holiday?

AgStackerRangeRider49
Sep 4, 2020 - 11:27am

VISA precious metals card

there is one card service backed by your own vaulted PM's that I know of that is offered by Perpetual Assets.

https://www.perpetualassets.com/silver-debit-card

The secure vault is located somewhere around Spokane, Washington. I talked with Will Lehrer (at Perpetual Assets) about it a few weeks ago. 500 dollar minimum deposit and they will hold any kind of silver or gold you want and the VISA works just like any other debit card.

You could even ship them any amount of your own PM's as well, or you can drive it there yourself if you are close enough to that area.

I also have a Goldmoney account that I opened years ago when it first started. I even had the original Goldmoney Mastercard that we used to be able to use as debit with our Goldmoney gold holdings. That expired a few years ago I think, but I still have some gold held in storage with them anyways.

I also still have the card as a souvenir.

murphydryam
Sep 4, 2020 - 10:55am

+ 100 h/tips

Fantastic post!! Thank you.

Dryam responding to the Comex and LBMA

Vinny Gambini:
I object to this witness being called at this time. We've been given no prior notice he'd testify. No discovery of any tests he's conducted or reports he's prepared. And as the court is aware, the defense is entitled to advance notice of any witness who will testify, particularly those who will give scientific evidence, so that we may properly prepare for cross-examination, as well as give the defense an opportunity to have the witness's reports reviewed by a defense expert, who might then be in a position to contradict the veracity of his conclusions.

Judge Chamberlain Haller:
Mr. Gambini, that is a lucid, well thought-out, intelligent objection.

Vinny Gambini:
Thank you.

Judge Chamberlain Haller:
Overruled.

Objection...Overruled
microsbently
Sep 4, 2020 - 10:34am

Basel III - Tier 1 gold

This was the topic of a lot of conversation around here in 2018. Can't put my hands on any of the specific BIS links but many of our Top Flight Gold commentors have mainstreamed the discussion since early 2019.

I posted this comment here back in 2018 regarding not only the Gold to Tier 1 from Tier 3 but also the Tier 1 "requirements" being increased for 4% of holding to 6% of holdings. I thought then this would have significance in the "Gold demand" by Centrals.....

"Yes- Interesting increase in pace of Central banks gold purchases leading to the Basel III in effect in 2019. I need to go and look at some of the other requirements but I distinctly remember that not only was Gold going to be a Tier 1 asset in the new structure but maybe equally as important was the "requirement" that all banks raise there Tier 1 asset holding minimums from a current 4% of holdings to a new mandate of 6% of holdings would now be required of Tier 1 assets.

So- That looks to be a 50% increase in Tier 1 Asset holdings to be in compliance. Hmmm What to buy to fill the requirements? Gold at its currently manipulated price maybe? "

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USAFirearms
Sep 4, 2020 - 9:56am

Annual membership was just charged on my card!

Just want to say thank you Turd for the great content, worth every penny and more. Appreciate the tireless work you put in to keep us informed.

Still long and strong since 1999 on my core silver holding, keep hanging on, we're getting close boys.

canary
Sep 4, 2020 - 9:52am

No sign of miners accumulation

Miners seem to be USD sensitive.

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