Interview with Aaron Hoddinott
This interview with Aaron of Pinnacle Digest was conducted last Tuesday.
“Gold just suffered one of its worst corrections in a decade, silver has been crushed, and precious metals investors are asking the question nobody wants to ask: did gold fail the test? In this interview, Alasdair Macleod argues that the gold price correction is not the real crisis. In his view, the real danger is a credit crisis, rising bond yields, the U.S. debt trap, dollar debasement, QE to infinity, and a stock market bubble built on leverage. Gold has crashed, but Macleod believes the real panic has not started yet.
“Alasdair Macleod also explains why he believes central banks are still buying gold, why China may be moving away from U.S. Treasury debt, why COMEX open interest matters for gold and silver prices, and why investors may be misreading the relationship between gold, the U.S. dollar, interest rates, inflation, and the broader stock market bubble.
🧠 About Alasdair Macleod
Alasdair Macleod began his career as a stockbroker on the London Stock Exchange in 1970 and later worked in investment management and banking, including as an executive director of an offshore bank in Guernsey. His work focuses on sound money, credit, banking risk, monetary history, fiat currency debasement, gold, silver, and the relationship between real money and the modern credit system. He publishes his current research and commentary through Macleod Finance.”
Visit Alasdair online: https://substack.com/@macleodfinance
CHAPTERS
00:00 - Intro
01:52 - Gold and Silver Investors Face the Hard Question
03:34 - Is There a Near-Term Catalyst for Gold?
04:01 - Alasdair Macleod: Gold Is Money, Not an Investment
06:09 - Bond Yields, 20% Rates & the Dollar Problem
07:30 - U.S. Debt Trap, QE to Infinity & Dollar Debasement
11:23 - Iran War, Hormuz & Pressure on the Dollar
12:19 - Why Did Gold Drop 20%?
16:13 - Central Bank Gold Buying & the Declining Dollar
20:18 - Get Out of Credit: Real Money, Gold and Silver
21:00 - Silver, COMEX Open Interest & Physical Supply
22:13 - China, Treasury Debt & Gold Accumulation
23:19 - Gold vs. Stocks Since Nixon Closed the Gold Window
28:41 - “Get The Hell Out of Credit”
29:30 - Stock Market Bubble, Leverage & 1929-Style Risk
39:24 - Bundesbank Gold, China Gold & the New York Fed
43:10 - Gold, Retirement & the Two-Stage Crisis
46:30 - How Close Is the Financial Crisis?
Alasdair can you have a look at how you post your videos. Somehow YouTube wants me to sign in and I don’t want to do that
I like your Substack and interviews and I particularly enjoyed this one as Aaron pushed you with your thesis and not many interviewers have done so in the past. People like myself who have not got great wealth want to try to grow the money we have to th maximum we can. Gold outlook short term does not look good whilst equities are flying, however the bubble looks and I agree this will burst eventually. I bought gold and silver with my money back in November. It hasn’t really done much from where I bought it to current levels, but I feel that I’ve missed out on huge opportunities in the equity market by being fearful of this bubble bursting. It might not happen even this year.