Interview with Liberty and Finance
In this interview, I discuss my recent article on Say's Law, talk about the reset, and the shortage of gold. Sign up for free for more informative podcasts!
“Alasdair Macleod analyses the liquidity strains in London and the systemic risks they expose. He explains that recent large gold outflows from the Bank of England were primarily leased gold, suggesting dwindling physical liquidity rather than abundant reserves. Macleod warns that much of the gold in LBMA vaults is owned and not available for delivery, raising concerns about actual deliverable supply. He also emphasizes the relentless accumulation of gold by China and other Eastern nations, which continues to drain Western vaults. Overall, Macleod sees this as part of a broader global realignment, where Eastern powers rise financially while Western systems weaken under unsustainable debt and monetary policy. “
INTERVIEW TIMELINE:
0:00 Intro
1:30 Say's Law
9:54 Credit cycles
12:00 Economic reset
19:40 Bank of England's gold
32:47 COMEX deliveries
35:20 Bond market
Alasdair Macleod & Egon Von Greyerz, shooting the breeze:
Thank you Alasdair.
Alasdair’s lens on the world is valuable as a stress-test of mainstream optimism, but it is obviously not a complete map of the terrain. He is very good at spotting the structural fragilities that can build inside a highly-leveraged, fiat-money system, but his forecasts routinely compress the timing and magnitude of the dangers. It makes his narrative often sound darker—and arriving sooner—than reality. So I think the narrative is realistic about the mechanics of credit and money, but narrow in the way he weights other stabilising forces.