A2A with Alasdair Macleod of GoldMoney

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Alasdair Macleod has long been one of our favorite and most frequent podcast guests. As Head of Reserach at Goldmoney, few people are as fluent in the language of macroeconomics as Alasdair so, with the wildly-unpredictable 2017 upon us, there was no better time than the present to hear from Alasdair once again.

We covered a wide range of topics today from China, to Europe, to the emerging markets and to the US and the dollar. This baby checks in at nearly a full hour so you may need to carve it up into chunks but, regardless, I strongly encourage you to listen to every minute.

Great stuff from a good friend and we should all appreciate Alasdair's willingness to share so much of his time, wisdom and experience with us today.

TF


65 Comments

Rakka's picture

1st in Japan

awesome interview again Turd

Rakka's picture

sorry for double tap

sorry for double tap

Underdawg's picture

1st

Did I make it. Well I see that I did not get first, but am I second or third?

AGAU's picture

Hmm

... Listen time

Turd Ferguson's picture

more audio

MODERATOR

Here's today's KE Report commentary. Recorded two hours ago.

http://www.kereport.com/2017/01/12/similarities-beginning-2016-2017/

LostMind's picture

Lost some where in the Top 10...

Great interview.

What I was asking...

We have had numerous articles and individuals discussing the various nature of the US$ and reserve currency, SDR, and having to run trade deficits to maintain liquidity around the world.

Since we have the SDR "becoming" more prevalent and the US$ "slated" for death (Jackass), I am trying to bring all of these things together...

The US$ may be on the way out as the "reserve currency". This cannot be done over night.

The Chinese/Russians and others have may it cleat that "They" want the US$ to lose its stand alone hegemony associated with the US$ reserve currency status,

The Chinese Yuan has been added to the SDR. The US$ makes us approximately 48% of this SDR basket.
If other countries "Choose" to use other currencies to "settle" trade, like the Yuan/Euro/Pound; is this not the SDR in a round a bout way?!

So, the US$ slowly loses its reserve currency status. As we do, the "world" still needs to maintain at least 48% of trade in US$ to "preserve" the status quo of the SDR.

That being said, it makes since that we have had to run a deficit since Bretton Woods to make the liquidity issue work. This has decimated our industrial base as corporations have left our shores to seek cheaper labor.

OK, tying it together.

Trump comes in under the guise of national pride. Does he/IS he rebuilding our industrial base to "protect" us from the coming reset that has to occur. The reset being the shift to the SDR for settling world trade. The US$ is debased even further, the US debt is inflated away, cost of living goes up, living standards goes down. But the key here is that the inflation is mostly felt on "imported" goods, which currently is damn near everything... Re-build industrial power in the US protects us when the "reset" occurs?! Does it not?

Also, this means that the current financial world stays alive for another 10, 20, 30, or 40 years?? Globally, the debasement of all currencies can continue with no "real" noticeable (meaning hyper inflation) inflation from any one country, just higher cost every where.

Just some thoughts.

Dr. P. Metals's picture

Congrats to the Banksters today

unwound all of golds gains. Job well done. Off to happy hour now they will go I'm sure...

ah yes, I see they have thought up a new topic to jawbone for 2017, which they will surely use to hammer us with for months on end now:

http://www.zerohedge.com/news/2017-01-12/chatter-fed-balance-sheet-unwind-spikes-yield-curve

well heck then, they may as well start "unwinding" that balance sheet right away then yes? Why wait? Lol As if "unwinding" their balance sheet of worthless toxic crap "assets" which no one wants actually makes a difference to anything. If the CB doesn't want these "assets" the selves, then they' surely are worth nothing: or why would they be "selling" them to others at all? Ah yes, could it be out of the sheer goodness of their hearts? Just benevolence so others  can scoop up such great investments, er, I mean "assets" for themselves.

When they "unwind" the 200 TRILLION in unfounded liabilities then it may actually matter. What's that? No way to do that, ever? Oops...

twippers's picture

PPP

Turd, you are wise beyond words and I wonder if you or someone can't answer this....
If the Plunge Protection Team is sitting on trillions (as The Golden Jackass often states) why can they not keep this whole charade going for a very long long time? I remember back at the beginning of 2016 when many were saying this was the year that it would all fall apart. Here we are on to 2017 and it's the same narrative.  I know it's been discussed here ad nauseum as to how no one knows when the dam collapses but seriously, this shit is getting really boring and tiresome, especially since the crooks are the ones who seem to be winning the game.

RickshawETF's picture

Seventh

Seven, come eleven (hundred dollar silver!) cool

goldcom's picture

Price action today

Seeeeyyuucks!!!

Angry Chef's picture

PPP

Exactly.....I think it's time we stop thinking in terms of fundamentals and start thinking that the owners of the FED and the PPT and the BIS ( who are meeting in DAVOS this weekend I believe ) are never going to have to account for ANY losses. They'll just keep them off book and continue to plunder the planet. They'll send out food stamps and prop up the markets allowing pensions to continue to get paid. Then they'll move us into a cashless society and one day we can all get micro chipped. And nobody will say anything except us Turdites. Why ? Because as most of here know our friends and families don't care. As long as they can watch Football and Porn they don't give a rat's ass. Food stamps ? No problem. Who cares about unemployment. WTC 7 collapsing into a pile of dust ? Who cares pass the hot dog's. We pay for the murder of millions of innocent people....who cares ? Nobody gives a shit. As long as the free shit keeps rolling this game will continue. They don't need a productive economy. We've got most of the people working either for Government of some arm of the MIC. So it's all good baby. Until the day they come for you and your children so they can plug you into the BORG. But it will be too late by then.

Whitecastle123's picture

In case we haven't

had enough brain damage lately this should do it.

Angry Chef's picture

Melanie Shaw Given Two Years Following Secret Court Hearing

http://www.ukcolumn.org/article/melanie-shaw-given-two-years-following-secret-court-hearing

I'm posting this to emphasize that this is how it works for the Anglo-Americans. Manipulate markets ? No problem. Pay a fine. Clinton's travel down to the Carribbean on the Lolita Express. No problem. Clinton's steal billions and wash it thru the Clinto Foundation. No problem. You have a penchant for small children...welcome to the Club can I get you a drink ?

Blow the whistle on this garbage. You get a free pass....to jail. No problem.

Heads I win. Tails I win.

And you wonder why Putin refers to Western Politicians as " mutants " ? It's because they are !

texmex66's picture

@Whitecastle123

Truly sickening and disgusting. no

66

infometron's picture

@Angry Chef

You're on a roll, man! Kudos for the rant(s) of the day!

@Dr P, a close second!!

canary's picture

Medal of Freedom

Colin Powell's got one too??? ...Must be for freedom from WMD and for working on stability and peace in the Middle East.

                      Image result for colin powell and dick cheney images     And what about Dick Cheney?....No medal for him?

lakedweller2's picture

@canary

Cheney got a new hunting rifle

canary's picture

He still hunts? (edited)

Who is his prey?

RETSPY's picture

IRD Newsletter

DOOGIE posted at 1:12 about Kranzler's newsletter.

Looks attractive but I have a few questions for them.

Is there a contact?  E-mail or phone.  I do not use social media.

If its posted, it's not obvious to this dynasaur.

TIA

lakedweller2's picture

@canary

Cheney only gets one bullet and it is too big for the chamber.

infometron's picture

@Turd Re: A2A

Just finished listening to Alasdair. No worries about that second question, which was what conditions would it take for China to "play the gold card" in support of the Yuan?

Dirt_Reynolds's picture

re:PPP

Quote:
... why can they not keep this whole charade going for a very long long time?

Thermodynamics.

I feel QED is a better descriptor. You can cheat while you are in the Feynman diagram, eventually you will come out, like it or not. Who knows, for all I can see, I am a collection of fictional particles.

Turd / Turdville, good work and good questions.

#keepstacking

chocolatechiphorses's picture

Pet Rocks

7 MINUTE VIDEO

Turd Ferguson's picture

Margin cut

MODERATOR

Criminal CME lowering margin requirements for CDG by 10% effective tomorrow.

http://www.cmegroup.com/notices/clearing/2017/01/Chadv17-027.html#pageNumber=1

Spineseller's picture

Help me here for a sec. it is

Help me here for a sec. it is now cheaper to hold a position than it was yesterday?they are trying heat up this market?

lakedweller2's picture

@TF

Margin cuts  mean more naked shorting to reverse technical charts through market rigging. Am I close?

Edit: They just advertised a TV program on Obama's legacy.  Here is the Legacy:  failure to regulate anything and facilitated massive corruption.

infometron's picture

Breaking news

Israel bombs Syria... gold down

boomer sooner's picture

RETSPY, IRD

Go to IRD and his post for today. Leave a message in his comments section (he fliters them, so he will see). You are correct about No contact info on both of Dave's sites. Or try Shadow of Truth on youtube. Rory checks the comment there and can get word to Dave. PIA for sure.

Maybe TF will post his email.

JQuest's picture

Isn't This Fun?

Pump the USD up... the next day let a little air out of the USD almost like somebody wants to hold the markets at a certain level for some reason...

Up and down up and down until the let's say maybe Jan. 20th? wink

boomer sooner's picture

Packing Heat

Always a good thing, cause you never know.

http://www.msn.com/en-us/news/crime/passing-driver-kills-man-who-shot-arizona-officer-in-ambush/ar-AAlOefe?li=BBnb7Kz

Someone the other day asked me why I carry when it is so random you may need to defend yourself.  I asked them, why wear your sealtbelt?

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