Discussing the CNY-Crude with Alasdair Macleod


With the yuan-denominated crude oil contract ready to begin trading on March 26, we thought we'd check in today with an expert on the significance of this, our pal Alasdair Macleod of GoldMoney.

For this call, I simply asked Alasdair to lay out the short-term and long-term significance of pricing crude oil in something other than U.S. dollars. This new contract not only disrupts the crude oil market, it also impacts gold, forex and geo-politics. So please be sure to listen to this entire podcast and then consider the future implications of this new CNY-Crude contract.



Mar 15, 2018 - 4:56pm



Mar 15, 2018 - 5:09pm



Hey, my miners were all down today! What's up with that ?

Good thing I didn't panic, and jump into Bitcoin . . .

Just sayin'

Mar 15, 2018 - 5:19pm

We've All Heard This Song Before . . .

From The Street.com:

" Sears will have a hard time surviving beyond holiday season 2018. Now, yours truly is on the record all over Google (watch this segment from 2014 here) as saying Sears wouldn't survive beyond 2017. I continue to be amazed by the financial wizardry Lampert and his revolving group of execs pull off. That said, the financial magic can't go on forever -- after a while a company like Sears just runs out tricks and things to monetize. The company's core business is now fully engulfed in the death spiral that I laid out in 2014, and with that comes a quicker pace of cash burn and even more concerned suppliers. We all have an idea what happens next."

Now substitute "gold suppression" for "Sears", and "Central Banks" for "Lampert and his revolving group of execs" and reread . . .

Mar 15, 2018 - 5:25pm

what's the over/under

on how many times Craig checked the gold price on the golf course?

Mar 15, 2018 - 5:30pm


...my guess is it will be directly in line with the number of golf balls he lost.

Mar 15, 2018 - 5:30pm

Today was a 'nothing burger', but Cdn5 ate it anyhow.

WTI Crude clings to $61.20/bbl vicinity captured in the first few hours of trade, up about 0.75%

BTC held onto its range between 8K and 8.5K despite an onslaught by nay sayers and critics. Currently holding in $8250/coin vicintiy

Cdn5 moved down about .06% with leading loser Cronos Group (CRON) down 3.21%. As mentioned earlier in the update... CRON investors are reacting to a recent downgrade by some analysts. Best was Cannabis Wheaton, up 3.17% despite some cautioning news (see update).

Mar 15, 2018 - 5:41pm

Sorry @canary, had to delete

Sorry @canary, had to delete your 600+ repetitive comments from a couple of days ago... hope you don't mind.

Also won't be able to do this on the new site, as it disables the save button as soon as you click it once.

Mar 15, 2018 - 5:51pm

Ides of March

March is typically a soft month for gold, so don't expect much in the way of an upward trajectory until it, and the FOMC meeting, is in the rear view mirror. Just my 2¢.

Ferd Torgerson
Mar 15, 2018 - 5:51pm


Why did you delete Canary's posts?

I still had over 300 left to read through.


Mar 15, 2018 - 6:01pm


... and Hap Tip! ;O)


Mar 15, 2018 - 6:25pm

@admin...Thank you.

I think it had something to do with the Firefox not functioning right on my computer...It happened very quickly. If I didn't close this site, the number would be higher.....Anyway, I blame Quantum Physics for that.

I also appreciate members being good sport and adding great humor to that...Thanks.

Mar 15, 2018 - 6:26pm


Not Firefox's fault -- it was a Russian hack. We (Turdville) are getting "hot" on our theories about what shit is coming down next, and the Russians are not quite where they need to be . . .

Misc: It looks like Don Jr. is going to end up paying beaucoup bucks in alimony and child support -- he should have stuck to hookers, like his old man . . . (Easy peasy, no financial squeezy!)

Angry Chef
Mar 15, 2018 - 6:27pm

Iran, Syria and Saudi Arabia: Top Three Stunning Admissions...

...From the Top U.S. General in the Middle East

Wow. The truth hurts. Old Lyndsey Graham is going to drown his sorrows in a huge batch of Shirley Temple's.


Ronnie 666
Mar 15, 2018 - 7:00pm

Simple Mathematics

If the US has a debt of 21T$ and the Fed has 4.8T$ on its balance sheet why is the US Debt not $26T. I know it is all smoke and mirrors and the Fed is not the US but a private cartel blah blah blah... Total BS.

Mar 15, 2018 - 7:07pm


Not much new in this video for most of us, but still a good listen nonetheless:

Why The U.S. Dollar Will Collapse | Mike Maloney and Stefan Molyneux
indiana rod
Mar 15, 2018 - 7:13pm


Your problem was another reason Hillary lost.

That's number 43.

Mar 15, 2018 - 7:22pm

Hahaha.... very funny Ferg.

Hahaha.... very funny Ferg. :)

@canary, yes that's not a surprise. I've seen some weird interactions between a browser and mouse -- not just Firefox, but also Chrome and Microsoft Edge, and on lots of sites.

Have had some browser pages get stuck in a scroll-down, and it's impossible to scroll the page back up without closing the tab. Other times a single button click gets in a loop where it performs multiple clicks.

Keeping the browser up-to-date is a good idea, plus also worthwhile to check if there are mouse driver updates.

Mar 15, 2018 - 7:44pm

Great Thoughts from Alisdair Macleod

Craig, awesome questions from TMFR, led to deep incites from my favorite British economic guru. Watching the yuan-crude contract settle will be unlike watching Janet’s paint dry.

Mar 15, 2018 - 8:05pm


I remember when I visited LBMA in London in 2012. The air of the office was so odd that I could not feel anyone was working there seriously. I instantaneously knew that LBMA was just a facade which concealed the secret of the price manipulation. The information LBMA is to delay the timing of it's announcement of the precious metal price is much more important than the daily analysis of the price charts. Watch closely and describe their moves to details.

Mar 15, 2018 - 8:06pm

Once Bain Capital et al had drained Toys R Us

of anything valuable, the toy store will close every US retail outlet Toy R US was a big deal, pioneering the toy biz. Bain Capital is Mitt Romney's little fund that likes to buy businesses, drain them of life force and capital, load them up with debt used to pay billion dollar bonuses to the owners and then bankrupt the company that collapses under debt. Employees get screwed. Creditors get screwed. Shareholders get screwed. Bain gets rich

Eddie Lamprey Lampert is not done sucking the last drop of life force from Sears. You'll know he's finished his last blood meal when Sears says "No Mas", dies an ugly death and closes every retail outlet.
It's interesting to note that Sears started way over `100 years ago and has survived every economic downturn since the crash of 1887. It took a special type of evil blood thirsty hedge fund to destroy a century old company.

Mar 15, 2018 - 8:36pm
CC Horses
Mar 15, 2018 - 9:01pm

Russian Plane Loses 3 Tons Of Gold On Takeoff

I know this was posted earlier but without the picture.

Mar 15, 2018 - 9:23pm

Just before the sunset --

"Queen Elizabeth II Has A WW3 Speech Written And It's Ready To Deliver" (Zerohedge)


“Sometimes I notice I'm demented, especially at sunset.”
Jaroslav Hašek, The Good Soldier Švejk

“And somewhere from the dim ages of history the truth dawned upon Europe that the morrow would obliterate the plans of today.”
Jaroslav Hašek, The Good Soldier Švejk

“Austria's victory crawled out of her latrines.”
Jaroslav Hašek, The Good Soldier Švejk

Mar 15, 2018 - 9:38pm

Gold reset

Wish we could have polls here. Today there are two articles out calling for a gold reset, one by Bill Holter, and the other by Jim Willie. JW's one says it's coming "within months". Just wondering how many subs here actually believe a gold reset is going happen in our life times let alone "within months" ?

Mar 15, 2018 - 9:40pm


Within MY lifetime? Yes

within the next few months? No

Mar 15, 2018 - 9:41pm
Mar 15, 2018 - 10:09pm
boomer sooner
Mar 15, 2018 - 10:12pm

Get interview

I always note Alasdair's views. Thanks

Canary, I was concerned you passed out on the enter button! Glad to see your alive.

Russian plane. Anyone notice one of the pics looked like a 1000 ounce silver bar.

Mar 15, 2018 - 10:23pm

CNY-Crude with Alasdair Macleod

Thanks Turd for covering this topic in detail. It was helpful to gain a larger perspective. After decades of the PetroDollar this new paradigm is fascinating.

Mar 15, 2018 - 10:24pm

Russian Gold Spill

Maybe the Russians are sending a message

If the west keeps the pressure up they will spill the beans on GOLD!


Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 4/22

4/22 10:00 ET Existing Home Sales
4/23 10:00 ET New Home Sales
4/25 8:30 ET Durable Goods
4/26 8:30 ET Q1 GDP first guess

Key Economic Events Week of 4/15

4/16 9:15 ET Cap Util and Ind Prod
4/17 8:30 ET Trade Deficit (Feb)
4/17 10:00 ET Wholesale Inventories
4/18 8:30 ET Retail Sales (March)
4/18 8:30 ET Philly Fed
4/18 10:00 ET Business Inventories (Feb)
4/19 8:30 ET Housing Starts and Building Permits

Key Economic Events Week of 4/1

4/1 8:30 ET Retail Sales (Feb)
4/1 9:45 ET Markit & ISM Manu PMIs
4/1 10:00 ET Construction Spending (Feb)
4/1 10:00 ET Business Inventories (Jan)
4/2 8:30 ET Durable Goods (Feb)
4/3 9:45 ET Markit & ISM Services PMIs
4/5 8:30 ET BLSBS

Recent Comments

by Sound Money Minnow, 12 min 38 sec ago
by Turd Ferguson, 13 min 43 sec ago
by erewenguy, 42 min 21 sec ago
by Silverhog, 2 hours 25 min ago