The Launch Of The Allocated Bullion Exchange

207

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

  207 Comments


Feb 12, 2016 - 12:29pm

If interested in learning more...

You might check out either of these two links.

tyberious
Feb 12, 2016 - 12:35pm

1st

1st on Friday

Swineflogger
Feb 12, 2016 - 12:36pm

Dos

Gooooooo ABX

Bsquash
Feb 12, 2016 - 12:41pm

Thurd!

Yess

LostMind
Feb 12, 2016 - 1:01pm

Fourth!!!

Marchas buddy, come on!

Keep Stacking <- time honored fourth saying! ;-)

C U L8 Charlie!

silver10sguy
Feb 12, 2016 - 1:04pm

ABX is Thrilling News

I am so excited for the launch of the ABX!!! I let out a big cheer after seeing the news here!!! Finally a fair and unbiased way to trade metals for everyone without being screwed by the bullion banks.


Feb 12, 2016 - 1:15pm

BOJ...

...not leaving anything to chance today, huh?

Just validates the algos are programmed to ignore the risk of being long this weekend.

squib
Feb 12, 2016 - 1:23pm

Present

Present

Substitute Teacher - Key & Peele

Feb 12, 2016 - 1:24pm

Into the Comex close

Silver.

Must.

Not.

Be.

Allowed.

To.

Close.

Green.

benque
Feb 12, 2016 - 1:29pm

Well

I don't see much differance between ABX prices and crimex.

Marchas45
Feb 12, 2016 - 1:30pm

I'm Too

Bloody Busy LostMind. Lol Keep Stacking


Feb 12, 2016 - 1:32pm

Gold is going to close the

Gold is going to close the Comex down $25 from the peak yesterday but only down a measly $9 on the day.

This is clearly quite encouraging.


Feb 12, 2016 - 1:34pm

Though I doubt anything will come of it...

This is fun:

SilverX3
Feb 12, 2016 - 1:36pm

How about

How about that HUI........leading gold, on a slightly down day for gold? That old bug-a-boo of 165, should we close above there, may bring into view 180-185? I can't even believe I'm quoting these numbers that were seemingly unreachable just 1 month ago.

Gibbo
Feb 12, 2016 - 1:44pm

ABX launch been a long awaited moment

After a few rounds of...on the bus off the bus, I can say I'm very happy to see launch day finally arrive!

Also glad to see that Turdites are taking up my discount offer for those wanting access to the ABX - don't forget to give me your Turdite username once your account is open - that way I can weed out the gypsies ;)

Yours,

David

Bollocks
Feb 12, 2016 - 2:05pm

What's the 1/2 oz Pooled

that appears on the ABX website? Anyone know?

It's the same price as 1oz gold coins.

If it's explained in the podcast, sorry. (I've not listened to it yet - won't be able to until much later).

EDIT: Forget all that, I found it here ... https://abx.com/markets/gold/

2c piece
Feb 12, 2016 - 2:05pm

Participating miners

Will there be a list of participating miners? I would certainly want those that I invest in to participate and it would influence whose stock I purchase in the future.

matt_
Feb 12, 2016 - 2:06pm

Clinton's gold outfit at the debate last night

I'm posting this again. Sorry, I just find it too hilarious.

To me, her outfit looks the same as the Heaven's Gate cult leader whose followers committed mass suicide.

Clinton last night:

Heaven's Gate leader:

Coincidence? I think not! :)

Bollocks
Feb 12, 2016 - 2:20pm

That's not Clinton matt_

This is what you were looking for...

kenmasters675
Feb 12, 2016 - 2:49pm

Damn. I am getting destroyed

Damn. I am getting destroyed with DUST. waiting for a HUI pullback. I guess we are not getting a pull back? Hui is absolutely insane, up on gold day. I am going to do something really stupid and buy some MINERS here even though all logic says it should drop next week because how oversold we are. Miners are extremely overbought, and as a rule of thumb i NEVER buy anything RSI over 70. But this is strange...

Or maybe long silver?

EDIT..

watch guys, the second i go LONG silver/gold/miners is when the crash will happen...

So please thank me when you guys get your pullback to gold 200 day MA

Revelation21.21
Feb 12, 2016 - 3:01pm

off topic script issue , need advice

recently I"m getting warning of scripts not running on this site alone. Turned it over to tech last night and thought we had it fixed. Alas, it's happening again. Anyone also having problems? Think it's my Firefox ?

Thanks for any advice


Feb 12, 2016 - 3:05pm

Something to watch this last hour

Can we get a fully-rigged, furious last hour rally in order to avoid a new weekly closing low below 1880 S&P??

SilverX3
Feb 12, 2016 - 3:05pm

HUI

This is a new paradigm for PMs and miners........we are getting fresh Spec money coming in on the long side.......resumption of the Gold Bull.......translates into extremely overbought can become even more overbought"..........patience is required......long side with no stops since all of the risk is on the short side.........let the market dictate to you where it will stop and correct this monster of a rally.......1300 is the next logical stop...........perhaps from there, we will correct down to 1200, who knows

garth
Feb 12, 2016 - 3:05pm

I wasn't clear

I wasn't clear in the interview with Tom - Are any producers using ABX yet? Are there any obstacles to switching to this system for them?

indiana rod
Feb 12, 2016 - 3:08pm

ABX

The ABX opened Wednesday. The over night gain for gold was the largest in seven years. Coincident? I don't think so.

garth
Feb 12, 2016 - 3:16pm

I don't know

The only "obstacle" would be the loss of the handcuffs of the bullshit financing "deals" that the bullion banks offer them.

Tom has a plan for this, though, and I'm sure details will be forthcoming in the days ahead.

Orange
Feb 12, 2016 - 3:34pm

ABX Discount for Turdites

Turd, perhaps you should highlight the post above.

s1lverbullet
Feb 12, 2016 - 3:46pm

So what do you think guys?

If the S&P closes below 1880 today does it fall hard next week. Looks like we will get a new weekly closing low BUT also a doji candle. Opinions?

@ Ken

Just like there is no such thing as oversold in a bear market, there is also no such thing as overbought in a bull market. If we are truly seeing a change in the long term trend and sentiment, RSIs can stick at 60+ for loooong periods of time. Gold should move quickly to 1500+ if this is truly a flip in the trend. I believe it is and that's why I didn't wait for a pull back to buy my miners back.

J Siefert
Feb 12, 2016 - 3:48pm

S&P Green ladder

I can see a green ladder forming into the close. Up to 1864 now :(


Feb 12, 2016 - 3:48pm

CoT as expected

Gold still not at Oct or May extremes though price is higher. Silver getting very close to Oct, May and Jan 2015 extremes.

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