Natalie Laz via Kinesis
In this week’s Live from the Vault, Andrew Maguire highlights the possible implications of Russia’s plan to create its own international standard for the precious metals market by establishing a local LBMA-competing brand.
With global investors growing frustrated over the unnatural capping of the gold and silver prices, the London wholesaler provides further evidence of the COMEX’s broken pricing mechanism.
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Timestamps
00:00 Start
01:25 Picking last episode’s threads
09:50 What’s going to happen in the silver market?
11:40 Russia is creating its own LBMA-competing brand!
24:42 Where is the short-term imbalance likely to play out?
35:10 About the new Russian gold and silver benchmark
43:15 Andrew’s predictions on the Russia-China alliance
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In 2011, the early imaginings of what would later become Kinesis were percolating in the mind of Thomas Coughlin, CEO. Thomas Coughlin envisioned a transformation of the global monetary system, a transformation that echoed the radical innovations he had made in the precious metals trading sphere, years earlier. Emergent technologies were fast catching up with the vision he had long held of a revolutionary new approach to money; where physical gold and silver were currencies digitally integrated within the economy, where all participants in the economy were rewarded equally.
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Since its inception, Kinesis has achieved that which was assumed unachievable. Not least the technological feat of digitalising the timeless value of gold into spendable currency, integrating seamlessly with all financial infrastructure, old and new. In deriving a passive yield from gold, the Kinesis yield engine has accomplished what thousands of years of economic history could not. However, the impact of Kinesis financial technology extends beyond the monetary. Kinesis’ fair remittance provision and mobile financial access are changing the lives of financially underserved citizens in developing nations the world over.
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Prior to the conception of ABX in 2011, the precious metals trading industry was ingrained with systemic inefficiencies and run on archaic trading practices, where manual trading and open outcry were the norm. The manual trading process was problematic, expensive and inefficient, and in desperate need of transformation.
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