Alasdair Macleod – Gold Rising, Dollar Going Down
by Greg Hunter
USA Watchdog
Financial expert Alasdair Macleod says the most important economic news concerns the U.S. dollar. Macleod explains, “I think the most important point is actually the dollar has turned. The panic move into the dollar by miners and producers of raw material . . . was driving the dollar up. That has now ceased. China has now started buying those raw materials, base metals, oil and so on and so forth. So, the result is the commodity crisis is over. That, actually, is the biggest driver of the dollar, which is pushing it down.”
On the U.S. economy having a huge recession, Macleod contends, “Actually, the underlying business conditions are not good. What we have seen for considerable time is U.S. corporations have increased their borrowing, to invest in production—no, to buy back shares to artificially inflate their earnings. There comes a point that if you don’t have the underlying cash flow, you can’t do that anymore. I think there is a concern in the markets we are getting near to that point.”
Macleod predicts when the market turns, it will crash big-time. Macleod contends, “Whenever markets get mispriced, the correction is always very sudden, unexpected and hurts a lot of people. Now, we don’t have it in just one market, we have it in all markets. So, I would expect on that basis alone, that when the thing starts sliding, it’s going to be very, very big and actually could be systemically big.”