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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 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 4/20

4/20 8:30 ET Chicago Fed
4/21 10:00 ET Existing home sales
4/23 8:30 ET Weekly jobless claims
4/23 9:45 ET Markit flash PMIs
4/24 8:30 ET Durable Goods

Key Economic Events Week of 4/6

4/8 2:00 ET March FOMC minutes
4/9 8:30 ET Producer Price Index
4/10 8:30 ET Consumer Price Index

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
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4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

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