Filmed in June 2021
In this episode of BullionStar Perspectives, Alasdair MacLeod joins Ronan Manly to discuss some important upcoming changes in the London Gold Market, as well as the geopolitical and monetary ramifications of Russia’s and China’s gold accumulation strategies.
Alasdair Macleod is Head of Research for GoldMoney, and is an expert on the gold market and how macro factors affect precious metals. He has over four decades of experience in finance, in roles such as stockbroker, investment manager, banker and economist.
This is a wide ranging and must see interview, as Alasdair drills down into the unallocated gold market in London, the role of COMEX, and why gold is the go-to reserve asset for central banks.
00:59 The Basel / NSFR proposals, and LBMA gold trading
04:34 LBMA circles the wagons, as bullion banks must comply
07:00 Impact of the Basel changes on unallocated gold
09:57 Gold Derivatives – The Basel Committee’s motives
14:40 Suppression of gold and expansion of paper and leasing
16:56 Lent bullion, COMEX shorts, and unallocated holders
22:09 The tiny “free float” of physical gold in London
24:19 Confidence in LBMA data and the lack of transparency
28:59 COMEX activity data useful, but overshadowed by London
33:42 The geopolitics of Russia’s gold accumulation strategy
39:11 China’s gold accumulation and financial war with the US
45:34 The coming fiat collapse and mobilization of gold reserves
50:32 The trigger for the currency collapse – Rising bond yields