Making The LBMA Obsolete

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We all know that the current, LBMA system is broken, arcane and in need of modernization. Into this void steps a company called Bullion Capital with a new, wholesale metals exchange designed to rival and, ultimately, circumvent the LBMA. In this interview, the CEO of Bullion Capital, Tom Coughlin, addresses how this new exchange will operate and why it has the potential to be such a game-changer.

After years of development, this new wholesale exchange will finally be ready for rollout in April. In his first public interview, Tom Coughlin addresses many of the questions surrounding this project and sheds light upon how the exchange will function and what makes it such a threat to the Bullion Bank status quo. Among the topics covered:

  • How will this exchange differ from the existing LBMA structure?
  • The ability of the exchange to provide a disruptive technology that allows users to entirely circumvent the LBMA.
  • In stark contrast to the LBMA, the anonymity that this new exchange gives market participants, thereby eliminating the possibility of bullion bank front-running of orders.
  • The global network of vaulting and settlement facilities, in place from day one, which allow the exchange to function on a 100%, fully allocated framework.

It was a great pleasure to visit with Tom and a real honor that he would utilize TFMR to begin spreading the word about this new exchange. Once the exchange goes "live" next month, I hope to have Tom back on for an update and status report. Until then, please give this interview a thorough listen and recognize that great strides are being made in our fight against the existing, highly-leveraged and unallocated system of price discovery.

TF

  159 Comments

Mar 13, 2015 - 12:44pm

Global telecommunications

With Tom in Cyprus and I in the middle of the USA, I still think it's somewhat astonishing that we can talk over Skype and record an interview in the first place. That said, there is some background noise and static as the call begins but the audio quality improves over the course of the discussion.

Thanks for understanding.

Marchas45
Mar 13, 2015 - 12:49pm

Lucky Me

Again. Keep Stacking

Flying Wombat
Mar 13, 2015 - 12:49pm

I'm first since TF posted the follow-up?

Oh well.... my first and last claim to fame :-)

Flying Wombat
Mar 13, 2015 - 12:50pm
waxybilldupp
Mar 13, 2015 - 12:51pm

Thanks Turd ...

Now, to check this out.

Biggest question I have right now ... Are Madonna and Putin back together again?

wax off

Pseudozero
Mar 13, 2015 - 12:51pm

great news

keep the hits coming!

CPE
Mar 13, 2015 - 1:13pm

:D

What if?

Great work getting the interview Turd! I'm very glad to have more information on this important new topic.

Late edit: Just realized this is a public thread, so I've redacted a couple items.

59LesPaul
Mar 13, 2015 - 1:50pm

Re: Bullion Capital Interview

hi Turd,

Are you making this interview available to the general public ?

realitybiter
Mar 13, 2015 - 2:04pm

experts???

Found this and thought it was worthy of sharing. This is Jim Cramer's company. What got me looking for it was an interview he did recently with Tim Cook. I thought, "what was Cramer thinking about Apple in 2001"

oh, google.

https://www.thestreet.com/story/10002957/1/apples-scraping-the-bottom-of...

summary: yes you can buy the stock for the cash in the bank, but you should own dell instead. Retail stores are a stupid idea. MP3 players are cool but they don't make money. It is a dead company walk away.

My point is that seldom do the geniuses get it right. So what asset is being given away today? Scraping the bottom of the proverbial bottom? Pretty sure it is NOT Apple stock, even though they have scads of cash and a great business today, a tillion dollar market cap is busting the barrel not scraping the bottom.... In Oct 2001, a mere $10,000 invested in Apple would be worth $100,000. And at the time, the stock was trading at a value supported by 75% cash...your worst case was dead money, not money on fire.

So what asset is worth far more than the geniuses suggest? stocks? bonds? junk bonds? foreign stocks? stocks which own real assets not valued fairly due to their distorted currency?

Orange
Mar 13, 2015 - 2:05pm

LesPaul

It is already public.

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Key Economic Events Week of 1/27

1/28 8:30 ET Durable Goods
1/28 10:00 ET Consumer Confidence
1/29 10:00 ET Pending Home Sales
1/29 2:00 pm ET FOMC Fedlines
1/29 2:30 pm ET Powell presser
1/30 8:30 ET Q4 GDP first guess
1/31 8:30 ET Pers Inc and Spending
1/31 9:45 ET Chicago PMI
2/2 10:00 pm ET Chiefs win SB LIV

Key Economic Events Week of 1/13

1/14 8:30 ET CPI
1/14 9:00 ET Goon Williams
1/15 8:30 ET PPI and Empire Fed
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1/17 8:30 ET Housing Starts
1/17 9:15 Et Cap Ute and Ind Prod

Key Economic Events Week of 1/6

1/7 8:30 ET US trade deficit
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1/7 10:00 ET Factory Orders
1/8 8:15 ET ADP employment
1/9 8:00 ET Goon Chlamydia speech
1/9 1:20 ET Goon Evans 2:00 ET Goon Bullard
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1/10 10:00 ET Wholesale Inventories

Key Economic Events Week of 12/16

12/16 8:30 ET Empire State Manu Idx
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12/19 8:30 ET Philly Fed
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12/20 10:00 ET Pers Inc and Spending
12/20 10:00 ET Core Inflation

Key Economic Events Week of 12/9

12/10 8:30 ET Productivity and Unit Labor Costs
12/11 8:30 ET CPI
12/11 2:00 pm ET FOMC fedlines
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12/12 8:30 ET PPI
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12/13 11:00 ET Goon Williams speech

Key Economic Events Week of 12/2

12/2 9:45 ET Markit Manu PMI
12/2 10:00 ET ISM Manu PMI
12/2 10:00 ET Construction Spending
12/4 9:45 ET Markit Services PMI
12/4 10:00 ET ISM Services PMI
12/5 8:30 ET Trade Deficit
12/5 10:00 ET Factory Orders
12/6 8:30 ET BLSBS
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Key Economic Events Week of 11/25

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11/26 10:00 ET Consumer Confidence
11/27 8:30 ET Q3 GDP 2nd guess
11/27 8:30 ET Durable Goods
11/27 9:45 ET Chicago PMI
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11/27 10:00 ET Core inflation
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Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
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11/14 8:30 ET PPI
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11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
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11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

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