MacleodFinance Substack
Dedicated to explaining why gold is money and the rest is credit. Dedicated to explaining economics relevant to the preservation of wealth. And dedicated to explaining geopolitical developments relevant to investors.
- Top in Finance
- #84
- Paid leaderboard
- #50
- Subscribers
- 24K
- Paid subscribers
- 1,000+ paid
- Badge
- Bestseller 1k
- Followers
- 36K
- Paid plan
- $12/mo
- Recommends
- 37
- Podcast
- Yes
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Growth history
Rank in Substack’s finance leaderboard: #84 today
Stats worth sharing
Tracked since Sep 10, 2026 — 1 daily snapshot so far. The card below is built from what we track and refreshes nightly. It is free for MacleodFinance Substack to post, embed or send to readers, as long as the watermark stays on it.
- Percentile
- Top 16%
- Best rank seen
- #84
- Posts
- 12
- Reactions per post
- 78
- Reactions tracked
- 932
- Tickers covered
- 1
of 525 ranked finance newsletters
on Sep 10, 2026
last 30 days
average, recent posts
across 12 posts
in tracked posts
Most-reacted post we have seen: Bonds Beyond Bessent’s control — 115 reactions on Sep 2, 2026.
Recent posts
- Interview with CapotalCosm and Simon Hunt
CHAPTERS: Here are the chapters for this video: 0:00 Introduction: Rising bond yields and global debt crisis outlook. 0:56 The situation in Iran and potential for conflict. 3:58 Impact of oil price and energy shortages on the global economy. 11:30 Risks in the tech sector and data center expansion. 13:43 Geopolitical shifts: SEO summit and shifting alliances. 16:13 Monetary and fiscal policy, gold market, and the Japanese carry trade. 20:00 Central banks, gold property rights, and the New York Fed. 28:44 The carry trade and US Treasury debt holdings. 37:07 Analysis of the Japanese Yen and…
- Is your gold secure?
Earlier this year, the Netherland’s central bank (DNB) moved 78 tonnes of its gold held by the New York Fed and a further 8 tonnes from Ottawa to London. Interestingly, DNB sold 59 tonnes of gold stored in New York and bought the equivalent amount which it stored at the Bank of England. The remainder amounting to 27 tonnes were shipped from New York and Ottawa to DNB’s vault, and an equivalent but different 27 tonnes were then shipped to London. Ottawa was probably a tidying-up exercise. Presumably, the 27 tonnes were to be examined and a metal audit made. If so, then at the least the DNB…
- Carry trade carry-on
The US government already faces a funding crisis which has been concealed by US hedge funds and others round-tripping from the yen to the dollar in a carry-trade. It has concealed the seriousness of the US debt problem which is now being unmasked. Additionally, the current administration seems to go out of its way to upset its genuine creditors. This is not the way to win friends and influence people, serving only to strike fear into the dwindling number of sycophantic governments, most of which have debt problems of their own. And Scott Bessent, the Treasury Secretary deliberately set off a…
- Interview with Dunagun Kaiser
“The global bond market is flashing increasingly serious warning signs as rising yields, enormous government debt, and shrinking demand collide with an escalating energy shock. Alasdair Macleod ( MacleodFinance Substack Dedicated to explaining why gold is money and the rest is credit. Dedicated to explaining economics relevant to the preservation of wealth. And dedicated to explaining geopolitical developments relevant to investors. By Alasdair Macleod ) warns that the unraveling Japan carry trade could put additional pressure on U.S. Treasury financing while exposing vulnerabilities…
- A yen for gold
It started with Scott Bessent at the US Treasury intervening in the JPY rate doing a favour for Japan’s finance ministry in late-July. As the chart above shows (scale inverted) the yen rallied sharply, did little for a month and this week suddenly rose again. Over the period of a month, the yen has rallied 5% against the dollar. Not only will Japan’s institutions be reviewing foreign bond and equity investments, but the carry-traders buying US treasury bills could become forced sellers to cover their yen shorts. This matters, because the only way in which T-bill demand can be maintained is…
- Bonds Beyond Bessent’s control
- Interview with Godfrey Bloom
- Geopolitics and dollar collapse
- Interview with Darrell Thomas of VRIC Media
- Silver squeeze is back!
- Will Bessent’s actions increase gold demand?
- Interview with Dominic Frisby
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Data: Substack public leaderboards and publication archives, refreshed nightly, plus public beehiiv sitemaps and recommendation pages, refreshed weekly. Source for this page: MacleodFinance Substack. Subscriber counts are Substack’s own rounded public figures, so week-on-week changes move in steps. beehiiv audience sizes are self-reported by the publisher and are not verified. Last snapshot: Sep 10, 2026.