The Launch Of The Allocated Bullion Exchange

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After months of testing and build-out, the Allocated Bullion Exchange finally went "live" back on Wednesday. What is this new exchange and why does it pose such a direct threat to the current, fractional reserve LBMA system? For answers, we sought out CEO Tom Coughlin and our old friend and ABX Advisory Board member, Andrew Maguire.

After years of development, the Allocated Bullion Exchange is now fully operational. Here's a link to their site: https://abx.com

In these back-to-back interviews, Tom and Andy address many of the questions you may have regarding the new exchange. They explain how the exchange functions for retail and institutional investors and they also detail why ABX is 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 and gives users the ability to buy and sell at spot prices around the globe.

As you know, 2016 is shaping up to be the "year of consequence" that we predicted it would be. The timely emergence of the ABX, which gives producers and consumers alike an opportunity to interact outside of the existing LBMA system, only adds to the dynamic. We wish Tom, Andy and everyone else associated with ABX all the best in their efforts to offer the investment world a much more free and fair platform for buying and selling physical metal.

TF

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jaw777
Feb 15, 2016 - 9:12am

Markets - Ups and Downs

I have seen people here frustrated at the recent pullback. And I have had some relatives excited about the big up movement in the stock market on Friday. It is important to remember that markets rarely go straight up or straight down. (And those few times that it does it is a flash in the pan.) I have been here toiling away with all of you for years and I am just as frustrated, but what we want is a sustained uptrend with pullbacks and rallies for us to trade.

Last week's S&P close was lower than the previous week's close. Last week's gold close was above the previous week's close. Let's just let the week play out and check on prices on Friday. I suspect gold will be up even if only slightly and the S&P will be down.

We need pullbacks for a healthy market to move progressively higher. If gold moves up 30% this year (good by any standard) it will be around $1375. It would be better not to get there by March 1st. I personally am looking forward to a slow 4 year uptrend allowing all of us to sell the rallies and buy the dips with our trading money so we can stack more physical. And yes I can't wait for the blow-off phase where gold doubles in six months and silver quadruples. Gold at $5000 and Silver at $200 should be about right.

donnojackshit
Feb 15, 2016 - 8:49am

Saudi Forces entering Syria...

Do the Saudis have 1 forward and 5 reverse gears in their tanks, much like the Italians in WWII?

Angry Chef
Feb 15, 2016 - 8:48am

Lemming...Douche Bank vs Douche Bag

I felt compelled to clarify for any new Turdites. Deutsche Bank is "Douche Bank ". "Douche Bag" is Hillary, her Husband, anybody with the last name of Bush, Cheney, Rothchild, Rockefeller, Cruz, Reid, McCain etc....

My .02 cents on Scalia and no autopsy and found with a pillow over his head. If it walks like a duck....you fill in the blanks.

But hey. A Supreme Court Judge wouldn't have any security cameras around one's home would they ? Perhaps we can see the video. Maybe TPTB can hire the same clowns that did those fake beheading videos....

Safety Dan
Feb 15, 2016 - 8:47am
donnojackshit
Feb 15, 2016 - 8:30am

G'Day JW

After 5 years, I am munching the popcorn, and closely observing world events.

After spending so many years reading the prognostications of the very wise and informed folk hereabouts, I want to see some of the theories pan out.

Ivars and his GSR spreads, even if out by about 4 years, I still think the trends may eventuate.

I'm really keen to see Cliff High's linking the Bitcoin rise and subsequent Ag/Au rise.

My list covers many, many pages of the authors here and elsewhere.

We are about to see the "BE RIGHT, and SIT TIGHT" mantra of Turdville eventuate!!

J Siefert
Feb 15, 2016 - 8:24am

Breaking news

Saudi forces entering Syria...

Saudi Ground Forces are entering Syria - Breaking News
Joseph Warren
Feb 15, 2016 - 8:19am

One thing we Can be certain of . . .

. . . is uncertainty and volatility. (Not that the oligarchs let VIX show that.)

One night does not indicate much. Though you gotta give an extra hat tip to those who were skeptical when even the mainstream media were mentioning gold last week. Lets see where things end up at the close on Friday.

donnojackshit
Feb 15, 2016 - 8:00am

HOUSTON - We have a large order...

Our zombie apocalypse business has been a little quiet for a couple of weeks, BUT today WOOMPAH!

Some big sales, with lots of zero's!

My good wife loves this business (Long Shelf Life Food), as she reckons my customers are my kind of crazy!

Not sure what she means, because in the crazy department I am in a zone of my own.

I don't know what this sudden plethora (love this word - sounds like the name of my future space ship) of activity is all about?

Maybe a portend of future fanatical maniacal purchases? (From my lips to God's ears.)

My business sales are directly proportional to fear, so we'll see if this continues?

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gldslv
Feb 15, 2016 - 8:00am

ABX and current spreads

ABX hopefully will generate an arbitraging set of hedge funds to shake the grip. That will take time and for a while they can scare the hedges with phyz dumping if ABX starts to get its legs. Cartel power means you can raise hell on the ask price (constantly changing the price) if you have real product to bring to the dance, making it look pricing inconsistent. The ABX influence could take a year to stabilize a real pricing mechanism. Remember this is a private effort going against a massive rigging operation with infinite resources to damage the market. We will have too wait and see the limits to their grip.

Regardless of the market used, it will take real genuine buying to break the cartel's back. Watching ASE and AGE spreads is the best indicator we have for demand pressuring supply. Its one of the few indicators left for the masses.

They took away GOFO, no mint audits anywhere in the world, limited up pricing, gave us GLD and SLV as monetary deflectors, masked true measures of gold flows out of the west while the east contributes to the mystery.

Yet we know we're doing the right thing.

cashonly
Feb 15, 2016 - 6:48am

back to normal, again

double post: site glitch. Insert happy stacker face: :)

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