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Gregor Macdonald

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  • Did the ECB Save COMEX from Gold Default? [View article]
    "On Tuesday, March 31st, Deutsche Bank (DB) amazed everyone even more, by delivering a massive 850,000 ounces, or 8500 contracts worth of the yellow metal. By the close of business, even after this massive delivery, about 15,050 April contracts, or 1.5 million ounces, still remained to be delivered."

    Could you check your math, in the above passage?

    Apr 3 10:33 AM | 1 Like Like |Link to Comment
  • Eight Reasons Bank of America Is Going to $20 [View article]
    The Anglo-American banking system is insolvent. Period. BAC is a part of that insolvency. Nothing can happen now to change that, with the exception perhaps of BAC taking delivery of gold to shore up its capital base.
    Feb 22 01:40 PM | 1 Like Like |Link to Comment
  • 2010 Oil Story: Drawing Down the Inventories [View article]
    Thanks for all the comments. I've brought in two colleagues to go over all the data from BP. We've found enough to merit a new post soon. Bottom line is that BP is doing some very odd things, switching between Barrels and Mtoe (million tonnes oil equivalent). The gap is not as neat and tidy as some in this thread assume. The bottom line is that in 2010, the gap was real. Though, perhaps not as large as first reported. And certainly not merely because of categories like biofuels. Best, G
    Jun 15 09:40 PM | Likes Like |Link to Comment
  • Non-OPEC Production Soars in Latest EIA Data [View article]
    This isn't the start of a new trend. This is a rather classical result of multi-month supply falls on a trailing basis, which usually gives producers the option to goose supply for a couple of months. That's pretty well defined pattern now. Lots more to say on this but that's the gist of it.

    Jan 13 12:16 PM | Likes Like |Link to Comment
  • The Nigerian Delta, Oil Actors and the Global Oil Landscape [View article]
    Thanks for all the responses. I'll make two remarks.

    Readers of SA have to realize that these posts are republished from the author's original blog-and--that SA often changes the title. In this light, I can understand why so many comments here understand this post of mine as expressing a support for the thesis of climate change. Actually, that's not the case. I express no view whatsoever. I only refer to it.

    Also, I reject traditional measurements of poverty which have tended to measure wealth in US Dollar terms. I am not alone in this criticism. It's hardly radical or even novel to question measures of poverty in USD terms.

    Thanks to all.
    Jul 14 12:36 AM | Likes Like |Link to Comment
  • Oil Volatility Will Keep Killing the Economy in Waves [View article]
    It's a little surprising to learn, over this several month period that I have had my posts syndicated here at S.A., that most commenters seem unaware that...

    1. Most posts on SA come from an original blog.
    2. SA changes the title of most of these posts.

    If you want to know what the Author really meant, I would suggest readers also check the original blog.


    Apr 15 09:06 PM | Likes Like |Link to Comment
  • Is the Dollar Rally Over Now? [View article]
    Oops. Nothing short of hilarious to hear all the trend-following chatter from the Dollar bulls in this comment thread, just 24-72 hours before the USD got mugged by the FED.
    Mar 20 03:36 PM | Likes Like |Link to Comment
  • Non-Opec Oil Production Has Peaked [View article]
    Yes,kebu77, there are many of us attracted to the issue of non-OPEC supply. You'll find that I linked to Ace's TOD essay. at my website, when I published the original post.

    You can also use the search function at my site to see the other posts have made on "non-OPEC" over the past 6+ months.

    non-OPEC supply is a big deal. It's become a key topic to cover in my monthly newsletter as well.

    Mar 6 05:09 PM | Likes Like |Link to Comment
  • Non-Opec Oil Production Has Peaked [View article]
    That's very kind of you to say, Ferdinand. You're always welcome to see my posts as they come up about 12 hours on my own website, before they are republished here.

    Perhaps your editor will need you to do some final proofreading, and you can work some of the material in, that you find here.


    Mar 5 04:08 PM | Likes Like |Link to Comment
  • Why Do We Need Banks at All? [View article]
    And Kessler's pieces in the WSJ the past 6 month are glib, smug, puerile, and wrong. They are not excellent. They are an embarassment.

    You seem to agree that the destruction of working capital in the OECD via the insolvency of the Anglo-American banking system (and probably the European system) is also "no problem."

    Good luck with that view.
    Feb 24 10:23 AM | Likes Like |Link to Comment
  • Global Sovereign Bond Watch: Overstuffed Supply [View article]
    I would just comment that long-dated UK Gilts and long-dated US Treasuries are on pace to lose 20% of price, from the top. We're not there yet. But look at UK long-dated Gilts. They are leading the way down.

    Feb 3 07:02 PM | Likes Like |Link to Comment