Allocated Bullion Exchange

[pmbug]

Ancona wrote this four years ago:

Any fully allocated open exchange for precious metals will be brought down by the TBTF's because they cannot afford to have a platform allowing for true price discovery. ...

I'm just sayin'.

Come and see the violence inherent in the system!

We were alerted on Tuesday to an interesting new development in the Physical Exchange Wars. While we all patiently await the arrival of the Allocated Bullion Exchange, the LBMA has clearly cast its lot and support behind something called Allocated Bullion Solutions. If this sounds fishy to you...well, you're not the only one.

Just a refresher...Allocated Bullion Exchange is the brain child of Tom Coughlin, CEO of Bullion Capital. This new exchange, which is still coming by the way, seeks to make the paper-based LBMA obsolete in the global "price discovery" process. We first brought ABX to your attention back in 2015 and you can learn more about it here: http://www.tfmetalsreport.com/podcast/6685/making-lbma-obsolete

The process of bringing this game-changing new exchange online has been daunting and delays have frustrated all of us. However, Tom has assured me that "2016 is going to be a big year" for ABX.

With this in mind, check out what our pal Ned Naylor-Leyland discovered earlier this week. In this month's edition of "The Alchemist", the LBMA's own magazine (and what a perfect name!), you'll find a lengthy introduction of a brand new exchange that is designed to help with the "wholesale physical markets" which are "broken". The article can be found on page 3 here: http://www.lbma.org.uk/assets/blog/alchemist_articles/Alch80Complete.pdf

Did you happen to catch the name of this new exchange...the one that the LBMA is so eager to publicize? It's called "Allocated Bullion Solutions"! Yep, that's right. Allocated Bullion Solutions versus Allocated Bullion Exchange. And the similarities don't stop there.
...

More: http://www.tfmetalsreport.com/blog/7407/lbma-strikes-back

 

[mike]

Is it allocated like Jon Corzine's accounts were allocated?

If you can't hold it in your hand, you don't own it. Period.

 

[pmbug]

While I agree with you, there are a lot of non-stackers who are interested in trading gold and if the ABX offers them a vehicle to do so with greater security than other exchanges, it could be significant. Time will tell I guess.