An Update from Bullion Capital CEO, Tom Coughlin

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A few weeks ago, we notified you about a brand new global, physical precious metal exchange that was being built with the expectation of eventually drawing interest and pricing power away from London and New York. Today, we have an update on the status of the rollout of this new exchange.

Our guest for this call is Tom Coughlin, CEO of both Bullion Capital and the new exchange called the Allocated Bullion Exchange. Here's a link to the Bullion Capital site: https://www.bullioncapital.com And here's a link to the landing page of the just-announced Allocated Bullion Exchange: https://www.abxglobal.com

Again, the ABX is not yet "live" and the launch has been pushed back a few weeks from late April to sometime closer to the middle of 2015. As Tom explains in this interview, it's not that the exchange isn't operationally ready or that Bullion Capital is succumbing to external pressures. Instead:

  • Since we first spoke last month, there has been a significant influx of broker applications and, in order to deepen liquidity, ABX felt it necessary to get as many of these firms as possible online prior to the launch.
  • The delay also allows ABX to spend additional time engaging the precious metals industry, including physical retail and wholesale dealers around the world, generating excitement and interest in the exchange.
  • Pushing back the launch date also allows ABX executives the time to conduct additional PR and media appearances as well as host global roadshows in an effort to build momentum for the launch.

As Tom goes on to explain, this new exchange will attempt to modernize and globalize a precious metals "market" that continues to operate under the standards and transparency rules of a different era. By connecting physical metal trading centers around the globe, ABX will seek to provide a relevant and efficient price discovery and physical delivery platform. In taking on this challenge, they deserve our support and our patience in their efforts.

We here at TFMR wish ABX all the best and selfishly hope that their efforts at reforming the global precious metals market are a smashing success. The sooner the Bullion Bank Cartel is broken, the better. In the end, we will all benefit from true, free and fair price discovery.

TF

(For a two-week free trial of our subscriber-only "Vault" service, please click here: https://www.tfmetalsreport.com/freetrial)

  85 Comments

Orange
Apr 24, 2015 - 3:18pm

Distracted

And still first

Edit, she is doing a good job, however has now changed into black shorts, as it's about 90 degree F here.

I should be distracted for another hour or so.

Age Zilverstra
Apr 24, 2015 - 3:22pm

Second

For Charlie of course! Sorry, could not resist the opportunity...

tyberious
Apr 24, 2015 - 4:00pm

What Will Happen to You When

What Will Happen to You When the Dollar Collapses?

"First, the Euro Crash

It’s safe to say that the EU, the US, and quite a few other jurisdictions are nearing currency crashes, and in all likelihood, the euro will go before the dollar. So, unless the EU has already prearranged a new euro, the US dollar might well be chosen as an immediate solution to the problem, as the US dollar is presently recognized and traded throughout Europe. Therefore, a relatively painless transfer could be made.

Then, the Dollar Crash

However, the dollar, which is presently praised as being a sound currency, is really only sound in relation to the euro (and some other lesser currencies). Once its less stable brother, the euro, collapses, the dollar will be exposed.

As the US dollar is a fiat currency and is on the ropes, the US (and any other country that is using the dollar as its primary currency when the time comes) will experience a currency emergency at the street level that will be unprecedented.

The big question that is generally not being discussed is: The day after the crash (and thereafter), what will be the currency that is used to buy a bag of groceries, a tank of petrol, a meal at a restaurant? Certainly, the need will be immediate and will be on a national level in each impacted country, affecting everyone.

And Then…

I have discussed for some time that the US will be prepared ahead of time with a new, electronic currency. This will serve three purposes:

  1. It will allow the US government to blame paper currencies for the crash, in order to distract the public from recognising that the government itself is the culprit.
  1. It will allow the US government to create a currency system that disallows the holding of tradable currency by the population—that is, a debit card would be created by banks through which all transactions must pass, assuring that all transactions are processed by (and thereby subject to the control of) a bank.
  1. It will allow the US government to have knowledge of every penny earned and spent by any individual or organization, allowing for direct-debit income taxation. "

https://news.goldseek.com/GoldSeek/1429891506.php

Longstreet
Apr 24, 2015 - 4:21pm

Tom Coughlin Report

Excuses =BS at worst or poor planning at best on their part. Why not the truth?

Longstreettyberious
Apr 24, 2015 - 4:26pm

New Electronic Currency

Also add to list, it will allow the Government to shut of or erase any citizens eletronic card if it wishes to....ie for using the 1st Amendment to speak out opposition to DCs actions.

tyberious
Apr 24, 2015 - 4:35pm
Longstreet
Apr 24, 2015 - 4:37pm

Why not the truth?

Why would Tom waste his time talking to me if it was just to lie and spin?

Whatever. Believe what you want.

000
Apr 24, 2015 - 4:39pm

Chances of 1050

This was my reply earlier today to a fellow gold bug who is now looking for 1050 gold:

We have been schooled for quite a while now that silver is worth less than the cost of production, and the short sellers are telling us again today that gold ain't worth 1180 either. $1050 on gold would be one giant Woopsies, and certainly anything is possible when it comes to potential oversupplies of mouse click attack bullion and bearish TA (not bullish), however, at the moment the HUI does not seem to be forecasting any new lows, and despite whatever bearish TA that intelligent bearish people (this would exclude Harry Dent) can produce, the physical market may not allow 1050 to happen, and it probably already woulda happened if it coulda...

Spot gold is up only a few percent off its lows, but the HUI bottomed at 146 and is now 174 which is about 19% off the bottom...at least until additional monkeys are summoned to show up wielding ball peen hammers in both hands and one foot. If bullish TA was allowed to work, gold would have been resurrected last year, but I don't think that the COT structure is calling for a new low from here.

What high will the next rally achieve? If the next rally is an impulse rally, instead of a corrective one like we just saw capped at 12 and a quarter or so, it could blow through the gangster banker resistance zones which would amount to Mother Nature negating the price controls, and someday that will happen.

Lower highs have been enforced with each corrective rally that has taken place, and the only good news that we can take from that, is that the gold price resistance zones that, if exceeded, would equate to future positive trend changes and breakouts, is being lowered all the time, hence the SHEER DESPERATION we have witnessed at keeping gold at or below 1200. We really have nothing to be excited about until 1307 is exceeded. Some mining shares are in bull markets of their own now, and there is a slow turn taking place to the positive underneath all the noise and bullshit. If you believe in math, you gotta believe in gold.

J.P. Cubish
Apr 24, 2015 - 5:07pm

Appreciate the update

Sounds like an exciting project. We all hope its introduction heralds the next leg up in the PM market.

silver66
Apr 24, 2015 - 5:32pm
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

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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
1/16 8:30 ET Retail Sales and Philly Fed
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
1/7 10:00 ET ISM Services PMI
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
1/10 8:30 ET BLSBS
1/10 10:00 ET Wholesale Inventories

Key Economic Events Week of 12/16

12/16 8:30 ET Empire State Manu Idx
12/16 9:45 ET Markit flash PMIs Dec
12/17 8:30 ET Housing Starts and Bldg Perms
12/17 9:15 ET Cap Ute and Ind Prod
12/19 8:30 ET Philly Fed
12/20 8:30 ET Final guess Q3 GDP
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
12/11 2:30 pm ET CGP presser
12/12 8:30 ET PPI
12/13 8:30 ET Retail Sales
12/13 10:00 ET Business Inventories
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
12/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 11/25

11/25 8:30 ET Chicago Fed Nat'l Idx
11/25 7:00 pm ET CGP speech
11/26 8:30 ET Advance Trade
11/26 9:00 ET Case-Shiller home prices
11/26 10:00 ET New home sales
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
11/27 10:00 ET Pers Inc & Cons Spndg
11/27 10:00 ET Core inflation
11/27 2:00 pm ET Beige Book

Key Economic Events Week of 11/18

11/19 8:30 ET Housing Starts & Bldg Perms
11/20 2:00 ET October FOMC minutes
11/21 8:30 ET Philly Fed
11/21 10:00 ET Existing Home Sales
11/22 9:45 ET Markit November Flash PMIs

Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
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
11/6 8:30 ET Productivity & Labor Costs
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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