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Thursday Conversation - Alasdair Macleod


Our pal, Alasdair Macleod of GoldMoney, stops by to discuss his forecast for 2020 and the factors that will drive prices through the year.

Over the course of this call, Alasdair and I address three, primary points:

  • Ongoing Fed "not-QE" and how it must continue in order to fund the US fiscal deficit.
  • Central Bank demand for physical gold vs Bullion Bank supply of synthetic gold.
  • Given what appear to be stresses at present, can/will the fractional reserve and digital derivative pricing scheme survive through 2020 and beyond?

Alasdair has several other important issues on his mind as the new year begins so I strongly encourage you to read his 2020 forecast. Here's the link: https://www.goldmoney.com/research/goldmoney-insights/gold-s-outlook-for... While you're there, be sure to check out all of the great products and services that GoldMoney provides, as well.

Thanks to Alasdair for his time and thanks to everyone for listening.



Jan 11, 2020 - 3:58pm

I just cannot see it in any other way!

I see the warnings from the Lord. I see the great needs of mankind, needing food and shelter. I see that which is written in the Word and practiced by the early Church. I also see where the detour came long ago, even before the money changers in the old cold temple.

When I have told the local steeple house systems to do as they have been instructed, I am not invited back. I have said a few other things also!

We were never instructed to build steeple houses, costing trillions, nor to build bible colleges. We were not told to make the clergy the highest paid person in the assembly or to buy him/her a plane.

Tomorrow is Sunday, millions upon millions of believers will drop that check in the offering plate and think they have given to God. That is not "Kingdom giving". "If" all would repent of propping up the divided systems of men, giving directly into the great needs of the suffering poor, the world would finally see the Love within the believers. Sell those building, sell the billions/trillions in assets, including the arts. Stop feeding the greed and feed the starving.

Part of the great judgment, that all will face will be the accumulation of wealth by the divided systems, while the needy are passed by. The local Church, the people, repented long ago of tithing to a detoured system.

AGXIIK, it is your fault that I got stirred up today. Jim

Jan 11, 2020 - 3:18pm

Dunno how to measure it Rickshaw ETF

I'm metric dyslexic

Maybe KT?? not including the Morgans.

Those I'll never sell.

Or maybe MT

prolly MT WTFDIK

It's a shitload in any case.

Jan 11, 2020 - 3:14pm


" what the heck am I gonna do with IKT+ of AG when it hits 3 figures? "

You own a kiloton of silver ??????

Jan 10, 2020 - 9:46pm

Not an AGX original Rickshaw I've been giving some thunking

to the 'What if' of a potentially and possibly momentous rise in the price of gold and silver.

In a side note to a new TF regular a moment ago, I thought what better use of the stack if and when gold and silver hits $5,000 and $200 respectively is to sell some serious weight and drive it into the form a local foundation.

It would be used to help those who live at the edges and in the shadows. 7 figure would be an easy goal at those prices and another double down if prices rise even further.

Better yet, transfer the shiny into an asset based trust that sells only what's necessary to run the show, letting the rest run with the market. Maybe some of the left over cash could be used to trade and maintain the corpus of the trust.

I hate to think of selling and missing a further price rise. Besides which what the heck am I gonna do with IKT+ of AG when it hits 3 figures? Sit on it?

I guess Libero's comment a few weeks ago about comfort and all that nonsense is still getting to me

Liquidating the AG sounds appealing too. It's a PITA to store, heavy to lug and way too volatile in the market to suit my tastes.

After being robbed and gang banged by the silver monkeys for 10 years my adrenals could use a break.

Jan 10, 2020 - 9:23pm


"the best way to help the poor is not be one . . ."

I don't know if that's the Tyrconnell talking, but that's one of the best phrases you've come up with! (And there have been a LOT!)

Jan 10, 2020 - 4:48pm

What's that old saying in politics?

When your opponent is committing seppuku, step back and get out of their way.

Ditto for countries dead set on the same action

Jan 10, 2020 - 4:06pm

Saker and Hudson

Yes, thanks Angry Chef and Surfeitndearth, I did see Saker's interview with Michael Hudson. You can count on magnificent perspective and depth of understanding from Raevsky to get at the 'deep dive' questions and Hudson's answers were just as specific as the questions. Indeed, no single country can break the unipolar US hegemon alone, it takes a collective effort, but, the US is doing a pretty good job of destroying itself and, sadly, doesn't really need any help from the outside.

Jan 10, 2020 - 3:16pm

@Sovereign follow up... Hudson w/ Saker

The Saker interviews Michael Hudson

January 09, 2020

After posting Michael Hudson’s article “America Escalates its “Democratic” Oil War in the Near East” on the blog, I decided to ask Michael to reply to a few follow-up questions. Michael very kindly agreed. Please see our exchange below.


The Saker

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

Jan 10, 2020 - 2:35pm


I think Eric Sprott went to Antarctica to visit the pyramids . . .

Jan 10, 2020 - 11:15am

yah, I tried

But we were really having difficulty with the connection.

Please remind me next week.

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Key Economic Events Week of 1/11

1/11 12:00 ET Goon Bostic speech
1/12 10:00 ET JOLTS job openings
1/13 8:30 ET CPI
1/13 1:00 ET Goon Brainard speech
1/13 2:00 ET Beige Book
1/14 8:30 ET Import price index
1/14 12:30 ET Chief Goon Powell
1/15 8:30 ET Retail Sales
1/15 8:30 ET PPI
1/15 9:15 ET Cap Ute and Ind Prod
1/15 10:00 ET Business Inventories

Key Economic Events Week of 1/4

1/4 9:45 ET Markit manu PMI
1/4 10:00 ET Construction Spending
1/5 Georgia U.S. Senate election
1/5 10:00 ET ISM manu PMI
1/6 US election certification
1/6 8:15 ET ADP Employment Report
1/6 9:45 ET Markit service PMI
1/6 10:00 ET Factory Orders
1/6 2:00 ET December FOMC minutes
1/7 8:30 ET Trade Deficit
1/7 10:00 ET ISM service PMI
1/8 8:30 ET BLSBS
1/8 8:30 ET Wholesale Inventories

Key Economic Events Week of 12/21

12/21 8:30 ET Chicago Fed
12/22 8:30 ET Q3 GDP final guess
12/22 10:00 ET Consumer Confidence
12/23 8:30 ET Durable Goods
12/23 8:30 ET Personal Inc and Spending
12/23 8:30 ET Core Inflation

Key Economic Events Week of 12/14

12/15 8:30 ET Import Price Index
12/15 8:30 ET Empire State Index
12/15 9:15 ET Cap Ute and Ind Prod
12/16 8:30 ET Retail Sales
12/16 9:45 ET Markit flash PMIs Dec
12/16 10:00 ET Business Inventories
12/16 2:00 ET FOMC Fedlines
12/16 2:30 ET Chief Goon Powell presser
12/17 8:30 ET Philly Fed
12/18 8:30 ET Current Account Deficit
12/18 10:00 ET LEIII

Key Economic Events Week of 12/7

12/8 8:30 ET Productivity & Unit Labor Costs
12/9 10:00 ET JOLTS jop openings
12/9 10:00 ET Wholesale Inventories
12/10 8:30 ET CPI
12/11 8:30 ET PPI

Key Economic Events Week of 11/30

11/30 9:45 ET Chicago PMI
12/1 9:45 ET Markit Manu PMI Nov
12/1 10:00 ET ISM Manu PMI Nov
12/2 8:15 ET ADP Employment Report
12/3 9:45 ET Markit Services PMI Nov
12/3 10:00 ET ISM Services PMI Nov
12/4 8:30 ET BLSBS
12/4 8:30 ET US Trade Deficit Nov
12/4 10:00 ET Factory Orders

Key Economic Events Week of 11/23

11/23 9:45 ET Markit flash PMIs
11/23 1:00 ET Goon Daly
11/23 3:00 ET Goon Evans
11/24 9:00 ET Case-Shiller home prices
11/24 10:00 ET Consumer Confidence
11/24 11:00 ET Goon Bullard
11/24 12:00 ET Goon Williams
11/24 12:45 ET Goon Chlamydia
11/25 8:30 ET Q3 GDP 2nd guess
11/25 8:30 ET Durable Goods
11/25 10:00 ET Personal Inc and Spend
11/25 10:00 ET Core inflation
11/26 US Market holiday

Key Economic Events Week of 11/16

11/16 2:00 pm ET Goon Chlamydia
11/17 8:30 ET Retail Sales
11/17 8:30 ET Import Price Index
11/17 9:15 ET Cap Ute and Ind Prod
11/17 10:00 ET Business Inventories
11/17 1:00 pm ET Chief Goon Powell
11/18 8:30 ET Housing Starts
11/18 1:20 pm ET Goon Bullard
11/19 8:30 ET Jobless claims
11/19 8:30 ET Philly Fed

Key Economic Events Week of 11/9

11/9 1:30 pm ET Goon Mester
11/10 7:30 am ET Goon Kaplan
11/10 10:00 ET JOLTS job openings
11/10 10:00 ET Goon Rosengren
11/11 Veteran's Day. Bond market closed.
11/12 8:30 ET CPI
11/12 11:45 ET Chief Goon Powell
11/12 2:00 pm ET Federal budget
11/13 7:00 ET Goon Williams
11/13 8:30 ET PPI
11/13 8:30 ET Goon Bullard
11/13 10:00 ET Consumer sentiment

Key Economic Events Week of 11/2

11/2 9:45 ET Markit Manu PMI
11/2 10:00 ET ISM Manu PMI
11/2 10:00 ET Construction Spending
11/3 U.S. Election Day
11/4 November FOMC begins
11/4 8:30 ET ADP jobs report
11/4 8:30 ET US Trade Deficit
11/4 9:45 ET Markit Services PMI
11/4 10:00 ET ISM Services PMI
11/5 8:30 ET Productivity & Unit Labor Costs
11/5 2:00 ET FOMC Fedlines
11/5 2:30 ET Chief Goon Powell presser
11/6 8:30 ET BLSBS
11/6 10:00 ET Wholesale Inventories

Forum Discussion

by silverseeker, Jan 14, 2021 - 10:12pm
by silverseeker, Jan 14, 2021 - 9:58pm
by Green Lantern, Jan 14, 2021 - 9:26pm
by matt_, Jan 14, 2021 - 5:43pm
by SteveW, Jan 14, 2021 - 3:22pm
by matt_, Jan 14, 2021 - 10:34am