Josh Crumb 🆔++
@JoshCrumb
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CEO @abaxx_tech (ABXX) |pod: @smarter_markets | Founder @BaseCarbonInc @mene | Ex- @GoldmanSachs Econ| Jargon #Energy #DigitalIdentity #Gold | Worldbuilder or bust
London/Sing/Barbados/NYC/CO
Joined March 2014
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Abaxx Q2:
🔸Launched one of the first global commodity-futures clearinghouses in a decade+
🔸Abaxx now part of markets history with the first print of a physical-
#LNG
price: Nov GOM FOB $9.09 mmbtu first close
🔸Growing Abaxx commercial & product team, working on 10+ new
Abaxx Q1:
🔸All major market opening milestones completed Q1
🔸Closed final placement of +$55mm total for Exchange & 🆔++ (Canoe, Cboe, Blackrock, Wellington, Tom Ward, R. Friedland, Traxys, K2, Rothschild +more)
🔸3 FCMs approved (now 5 incl. indirect)
🔸Board attestation for 🚀
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Heard something disconcerting this eve from a good source.
Apparently G7 morality police about to rein the propaganda down hard on
#gold
— owning gold and gold mining companies in name of ESG & energy use. Apparently the message from on high already working into Blackrock et al
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This has to be one of the greatest cons in all of history. Tens of thousands of economists & pundits tell the world w/straight face that prices aren’t going up, while pumping financial “everything bubbles” & trashing society w/farcical paper-wealth inequality & crony financialism
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Nearly 6 months into epic energy crisis & these lunatics still calling LNG “stranded assets”, talking about a world without fossils fuels.
A world without German industry is the real situation now on the table.
🇨🇦 & 🇩🇪 still leading the G7 SuicideSquad
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Remember when suspending gold window was temporary, then the fiat-dollar infected whole world’s wage & capital systems?
Remember when QE was temporary, then moral hazard & wealth inequality infected whole world’s political systems?
What’s the next “temporary” lie we’ll be told?
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#Oil
: all time epic collapse.
#Stocks
: flat year over year.
Difference? Can’t print more storage capacity &working capital in real economy.
#Gold
is the hedge against this forward looking debasement, oil will soon be best hedge against
#inflation
Dow/gold & oil/gold best signals
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To these IYIs: there’s not another product on earth with the recycle rate & reusability of gold. Not a single one. It’s circular economy literally defined the technology of money and economic/industrial efficiency
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Lots of people asking me about
#Silver
today
There will be lots of misinformation & coin dealers pumping their inventory & spreads this week
The only signals that matters IMHO, to see if theres real market disruption, is the EFP market & Spot-COMEX spreads. I’ll report tomorrow
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I have a friend that just texted me that she’s finally selling her Doge ahead of SNL tomorrow. ...she’s selling it to pay off her mortgage, her entire mortgage. She’s a beautiful free spirited artist, it wasn’t about finance or trading. The scale of this all is simply incredible
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ABS recently told my friend that Xi asked him/the KSA to consider pricing oil in a Digital Yaun backed by gold “and other metals”.
IMO China’s supply chain grip over industrial metals was always going to be their lever for de-dollarization
#BrettonWoodsIII
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“It’s..TOTALLY..BROKEN”. Last 30 seconds of the clip are a 🎤 drop.
Well done.
#Financialism
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Helped Jeff Currie celebrate the retirement news with friends in London.
Great long conversation on LNG, copper, oil, Chinese demand, alternative to LME, the future of commodity trading (on whose balance sheet?), cowboy boots in Mayfair…
…getting Jeff on Twitter (soon)!
#OOTT
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This might be the most spot on, not blinded-by-narrative article that I’ve read in a long time. I agree with nearly every point.
Great work Vice (&Finland)! QE, Energy, debt, has it all right
Gov Agency Warns Global Oil Industry on the Brink of Meltdown
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The Abaxx Commodity Futures Exchange & Clearinghouse is now open.
#LNG
#GlobalUnifiedGasMarket
#BatteryMetals
#VCM
#SmartCommodities
#FDT
#BuyerAndSellerofLastResort
#SmarterMarkets
#29ers
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Can anyone make a serious argument why
#gold
won’t be building a new floor above $2,000 over coming months? Who in the world is selling?
[spare me any religious takes from idiots that never tried to understand it]
The Dec/Jan bank reports,“gold to 1500 post hikes” were terrible
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Oh, and I can tell you that having physical kilo bars in Sing, working orders with physical trading desk, China is buying gold hand over fist. Everything being bought up right now is headed to China (even more in March than in Dec/Jan)
~hearing 3 tonnes per day in March so far
A few shareholders asked me over past year why we “speculated on
#gold
”. My answer was that we were lowering counterparty risk. We owned gold in a Singapore vault. I saw risks in the banks & clearing system (most still don’t know about). Didn’t want to lose our startup capital
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That’s a wrap on the first ever trading day of Abaxx Futures.
Important front month price:
Gulf of Mexico Oct24
#LNG
settled at $9.09/mmbtu
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$28 trillion -> global
#QE
since ‘08 (still growing)
Basically 0 net-new sovereign debt sold to public (or priced by supply/demand) since “debt crisis”.
👌
Soon public will demand real liabilities from Governments.
Everything will change
#BrettonWoodsIII
#MMT
#AccountabilityMyth
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Why do I get the feeling in the next few days, week perhaps, we’re going to learn something new that really changes everything? ..perhaps another angle on the virus origin, or some new Orwellian response plan..both..IDK. Time to rest, but I think we have another big week ahead
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@pdacosta
@RudyHavenstein
@Sebastopol94
Wrote this to my former Goldman econ chief in '13, 3yrs before Brexit,Trump,etc..Its why I got off my ass to help people off ths train wreck
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Amazing, every asset goes up year after year!
..or maybe the ruler we measure by ($USD) is increasingly total garbage. Which isn’t bad if you’re in levered finance..
..but kinda sucks for majority of population using faulty ruler in wage contract & (negative real) bank savings
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I’ve had some interesting conversations in Singapore this week. This MAS news is consistent.
#gold
Latest data from the Monetary Authority of Singapore shows their
#gold
reserves increased by 17.3 tonnes in March. This means they have bought 68.7 tonnes of gold in Q1'23, lifting gold reserves to 222.4 tonnes (45% higher than at the end of December).
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Yesterday the world lost one of the great mineral explorers & developers, Lukas Lundin. His family shared the news today.
I’m forever grateful — at 26 Lukas gave me the opportunity of a lifetime, to share an office right next to him…and an inside glimpse of how the world works.
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@DoombergT
Had dinner with D. Yergin in DC during Biden first 100 days.
Everyone shocked, wasn’t a single person with traditional energy experience near the administration. Kerry had given them all the Heisman stiff arm & wasn’t expected to last. Before ‘21 crisis & ‘22 disaster. Insanity
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I spoke too soon.
#Silver
EFP markets may be reacting to $SLV buying. I was sceptical it would effect the potential spot - futures spreads, but here we are...
@GoldTelegraph_
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‘Singapore is set to lead the gold market as ‘center of gravity’ shifts east, World Gold Council says’
…what’s not said, Singapore is also tracking to have the most advanced spot
#gold
& futures clearing before the end of the year with
@abaxx_exchange
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#Gold
= noble metal element basically immune to entropy in natural atmospheric conditions (ie immortal)
Remind me which part of
#Bitcoin
is “immortal”; “moving at speed of light”;
SHA-256?
secp256k1 elliptic curve?
I like the protocol, but chill on the rhetoric!
@DanielaCambone
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J.Currie & I arrived at the conclusion independently, didn’t coordinate our commodity views before
@Hedgeye
call
#Gold
is +$250 above where our rate of change model would have predicted based on factors like energy & real rates
A large buyer is avoiding London, likely via Dubai
@Hedgeye
@JoshCrumb
@KeithMcCullough
"A very large mysterious buyer operating through the OTC market who is price insensitive."
$GOLD
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Education is not the primary business of a university, their primary business is social credentialing.
The virus revealed the fact that people can get a better education from YouTube than most colleges.
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5K
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Abaxx Q4/Q1:
🔸 First new commodity clearinghouse licence in decade+
🔸 Closed +$30mm from Canoe, Blackrock, Wellington & K2 funds
🔸 Closed strategic investors Cboe global exchange group, battery metal trading leader Traxys, NatGas titan T.L.W.
🔸 🚀 ready
🔸 GenAI + 🆔++ = ?
Abaxx Q3:
🔸 Filed Nickel Sulfate futures — our first battery metal contract
🔸 BHP discloses work with Abaxx
🔸 Jeff Currie joins board
🔸 Add’l R.Friedland backing
🔸 Signed global exchange as strategic investor
Near term roadmap:
Close strategics. RMO Licence. Plan launch
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Clarity for those still confused about history:
Gold never stopped being money;
Money stopped being
#GOLD
#Goldmoney
#SavingsTech
#Fintech
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As we reflect on labour day & the 99% who trade their precious, irreversible time for a wage..
..remember that others conjure 10 BILLION HOURS of minimum wage out of thin air to bail out hedge fund trades..then belittle us on
#Bloomberg
for calling it
#inequality
@RudyHavenstein
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Long road to the starting line as we built the first new commodity futures clearinghouse in a major financial center in over a decade, but our timing couldn’t be better.
Best commodity exchange team on the 🌍, ready to rock ‘n roll.
#NEWS
Abaxx Prepares Exchange Opening Sequence and Final Notices
Today Abaxx announces initiation of final exchange trading launch sequence for
@Abaxx_Exchange
to open the market in each of its commodity futures contracts including
#LNG
#Carbon
&
#Nickel
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Clearly a lot of nervousness in Abaxx stock right now. Lots of questions around exchange launch timing updates, & questions about valuation etc. First & foremost, I’d state that swings in small-cap illiquid stock price doesn’t drive business, doesn’t always reflect business
🧵👇
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It’s not Silicon Valley v Wall Street
It’s not Red v Blue
It’s financial industrial complex vs the real wage
Every bailout is another subsidy from someone earning a wage, to someone protecting funding for their finance schemes with negative real deposit costs.
End
#MoralHazard
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Gold in ‘73 ~$110
22/1.6 * 110 = 1,513
Gold & tuition moving the same more or less (as do most things w/scarcity value through cycles)
When we killed real value of dollar & wage contract we killed democratic distribution of economy.
Replaced it w/debt slavery & games of access
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Many years in the making, we’ve finalized our
#LNG
benchmark futures contracts & submitted to the Monetary Authority of Singapore.
The result of engaging nearly every firm active in physical LNG trade,100+ market participants
@abaxx_exchange
$ABXX
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Having lived in early post-soviet Russia,I’ve been thinking a lot about conditions for societal
#collapse
. Pondering the extreme here, but worried a collapse of our Dutch Disease (USD-debt export) could be as devastating as commodity price collapse was for USSR
Where am I wrong?
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Yes, proud to announce that after years of hard work and many (stressful) incremental milestone-financings (we refused to ever take too large a dilution just to “sleep easy” for 18 months), I can finally tweet that
@abaxx_tech
has:
#FundingSecured
😉
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@chigrl
The fact that $FB won’t drop 20% on Monday because of this news means that we’re doing this wrong.
That they have no real consequences for this negligence is a failure of both policy & capital market allocation IMHO. ...good news is, in the long run this business model is dead
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2000:
Dow — 10,800
US Debt — $5.5T
2022:
Dow — 33,300 (3x)
US Debt — $31T (6x)
In current financial system, core collateral (US treasuries) for capital leverage grows faster than labour or production in real economy; less & less efficiency, more & more inequality
#financialism
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“Why is the price of meat in stores rising while the price of livestock is plummeting?”
It’s the volatility in the supply chain, and we’re just getting started.
#inflation
in things you need to buy,
#deflation
in things you want to sell.
@CoveringDelta
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A third & final act from cocktail napkin to pubco list’s tomorrow 🇨🇦 $ABXX.CN
@abaxx_tech
An audacious full-stack challenger to the way we discover, price & trade commodities.
We ready to price externalities?
#EnergyTransition
#PreRev
#HighRisk
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Goldman Sachs on negative yielding bonds
“...a security whose appreciation is primarily dependent on whether someone else is willing to [print and monetize currency and] pay a higher price for it is not a suitable investment for our clients."
..oh wait, that was about
#bitcoin
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This is a big one. KGI is one of the largest futures brokering and clearing firms in Asia. Great work Joe, Nancy and the whole Abaxx Singapore team.
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Met with Jeff Currie & Robert Friedland today. China 🇨🇳 on the mind. But US 🇺🇸 gov ramping up awareness/priority on global mineral infrastructure is a first in our careers (it’s been many decades).
Investment cycle only just begun
Check
@Smarter_Markets
tomorrow
#OOTT
#Cu
#Fe
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This spread (&monthly roll as %), western Canadian select going negative, the true beginning of the beginning of unconscionable economic damage. We never would have ended up here if not for the decade+ long separation from reality managed by central banks
#unintendedconsequences
The expiry of the WTI may-june 20 spread is something we will tell generations of future oil traders about. Unless, june-july will be worse. Chances are good.
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..just like that,
#Comex
premium for April
#Gold
delivery (April-June) crushed. Can’t find a bar in North America, now pay premium to take it away
..the market equivalent of store paying you to take empty racks of toilet paper away
@roysebag
#financialism
breaks real business
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Takes a [global] village🙏
Angels:
K.Bass, Lundins, N.Holmes, Fulford grp, Beals, Herson grp, Burbank/Passport, Adrian/K2, Friedland,Towndsand, Neil/I3, Wilson grp, Grit, Duade,29ers, AnilG
Institutions:
Canoe, Blackrock, Wellington, K2, Rothschild
Strategic:
Cboe, TLW, Traxys..
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Remember back in ‘08-‘12 when we had this candidate that didn’t “talk presidential” named
@RonPaul
that was anti-war, anti-bailout, with radical ideas like limiting the power of big corporations& money printers, & following the constitution?
..boy we dodged a bullet on that one!
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I had to unfollow
@APompliano
& 6 others. Imagine hero worshiping such fools at this stage of an everything bubble.
...no, I’m not worried in the least that “this time is different”, it never is.
There is 👌chance
#Bitcoin
changes
#gold
’s long term role in markets. Zero
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Enjoying a beautiful Friday afternoon in Colorado, a favourite time of the year here in the homeland.
The final “build-stage” weekend toward opening a market we’ve been building for +half a decade (stage 1).
As of Monday AM, will be fully mentally engaged on next build stage
#FDT
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Abaxx Q3:
🔸 Filed Nickel Sulfate futures — our first battery metal contract
🔸 BHP discloses work with Abaxx
🔸 Jeff Currie joins board
🔸 Add’l R.Friedland backing
🔸 Signed global exchange as strategic investor
Near term roadmap:
Close strategics. RMO Licence. Plan launch
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There’s another way to translate Neel: “your wage, your time is meaningless”
Instead of paying more for your savings, your wage, your stored time,they get to conjure infinite time & energy tokens out of thin air, more control of the means of protection
#financialism
#MoralHazard
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This is still the BEGINNING of this stage in the cycle, yet
#Gold
already made all time highs today in:
GBP 🇬🇧
JPY 🇯🇵
INR 🇮🇳
CAD 🇨🇦
AUD 🇦🇺
ZAR 🇿🇦
BRL 🇧🇷
SEK 🇸🇪
MXN 🇲🇽
..and that’s just the major currencies..
#GoldAlwaysWins
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Perhaps they lent it to HSBC, who forward sold it on COMEX to collect a few pennies, and then they lent it to someone else...oops
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After one year of all out sprint from an amazing team, I couldn't be more excited to announce the spinout & initial public listing of
#BaseCarbon
Abaxx shareholders as of March 1st will receive shares (with improved ratio!) for a March listing debut
$ABXX
Abaxx announces Special Distribution and Record Date of Base Carbon share spin out
financialpost.com
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We’ve been building for this day for a long time.
Nice quote & congratulations from a former Chief Regulatory Officer of the CME Group.
Nice to be welcomed into such an esteemed circle of market builders & operators.
@abaxx_exchange
#SmarterMarkets
#29ers
#LNG
#BatteryMetals
#NEWS
: Abaxx Granted Approved Clearinghouse and Recognised Market Operator Licenses from Monetary Authority of Singapore
Read Full Release 🔗⬇️
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An investor sent me the print version in Canada 🇨🇦 yesterday. Good spread.
@the_Jeff_Jones
did a great job describing Abaxx as well. Jeff C. also received good feedback — but not that many heard it yet
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Remember when we all used **** and now we don’t? Let’s do that with Whats
@pp
. Soon.
*BBM
*MSN Messenger
*Yahoo! Chat
*AIM
*ICQ
..then let’s get P2P encrypted messaging into a secure open protocol, freed from application lock & identity fashion cycles
🆔++
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Epic! ...warning, this video produces level 10 danger of getting stoked.
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Go ‘niners…
...
#29ers
@abaxx_exchange
Smarter Physical Benchmarks
Smarter Technology
Smarter Collateral
Smarter Risk Management
#SmarterMarkets
#LNG
#BatteryMetals
#Nickel
#Carbon
#Gold
#SmartGoldPool
#SmartCommodities
#SmartEnviro
#OOTT
#Commodities
$ABXX
#SuperBowlAds
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Strategic investors Cboe, Traxys & TLW (Tom Ward) closed $27mm in
@abaxx_exchange
(with Canoe, Blackrock, Wellington & K2 from the institutional round closing).
Proud to have a top global exchange group, top battery metal trader & a titan of US natgas backing our upcoming launch
#NEWS
: Abaxx Announces Closing of Strategic Financing in Abaxx Singapore
Partners include Abaxx’s first group of globally recognized strategic participants in the market infrastructure and
#commodity
ecosystems and include
@CBOE
, TLW and Traxys.
🔗
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Maybe biggest call not priced in market:
Nearly every material good in economy will dramatically rise in price over next 8yrs with CO2/GHG abatement cost
I’m talking min10x nominal price increase baked into forward real rate expectation
Which CPI basket deflations offset this?
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BTC having a Michael Lewis “has everyone gone financially insane” moment IMO.
Promoters of “sound money” bash gold, put despots & degenerates on pedestal, cry that a trolling promoter liquidated aspiring “savers” (buying on Saylor-margin w/highest centralization risk in market)😂
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You realize we can incentivize democratic, free markets to move the world in the right direction without suicidal top down policy activism? Right?
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BlackRock-Backed Commodities Exchange Startup Abaxx Raises Cash
• Canadian firm is led by former Goldman strategist Josh Crumb
• It’s planning to launch contracts for LNG, battery metals
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Unpopular take: I don’t really enjoy/care about
#gold
price ATH, don’t even own much relatively. Interestingly, the move (that I’ve analyzed as inevitable since ‘15) stirs neither fomo or satisfaction
I care about how we fix increasingly corrupt
#financialism
political economy
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Incredible to watch
#Fed
governors jumping ship before hard part of the storm(they sailed us into). History will not be kind to these people
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The Goldman partner exodus is a canary in the coal mine of
#financialism
IMO
A top dog weakening, not against any particular competition,but against it’s own business models/outlook.
The phase shift to inflation, incremental
#dedollarization
& real assets is generational change
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With crazy moves in
#gold
past month, reposting “fundamentals risk rage” last summer (when gold ~1300)
What changed?
A) Range window moves down 1 row, right 1 row (ie today’s price still dead center)
B) fundamental window uncertainty expands to 4x4 (1200-2100!)
What’s next?...
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We’re approaching 4yrs since founding
@abaxx_tech
, words don’t describe how exiting the past month has been as so many long term pieces come together.
Guiding a super complex project to convergence on a micro scale, with macro-thesis wind in the sails is why we
#entrepreneur
!
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Good write up. We didn’t actually give these backers names in the PR, so quite the headline surprise.
But big shout out to the Canadian 🇨🇦 fund managers at Canoe & K2 that made it all happen while we’ve also been working with corporate strategics investors on the Singapore side
Abaxx raises $30.7-million from BlackRock, Wellington to advance its futures market
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The new 60/40 portfolio diversification for this phase in the long cycles:
60% Energy, copper, gold and real things
40% other financial assets
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Had another interesting conversation with Jeff Currie. He’s in the same camp as me, street seems unprepared & under positioned for next
#gold
run. Maybe even the face melting type moves lie ahead (Q2?)
Good year to prioritize our Abaxx gold market structure initiatives as well
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The time to own gold is during negative economic phase transitions, particularly where low energy spare capacity & high energy price volatility are key factors dragging the system.
#Gold
is your low entropy streamline.
Cc
@Hedgeye
@KeithMcCullough
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Imo
#gold
(the immortal metal asset, not Olympic token) could have unassuming break out while markets are half asleep in August, move back towards all time highs later this year, and perhaps a new paradigm altogether in ‘22 (even with USD/Fed ceteris paribus; all about energy)
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He’s either completely out of touch with the market and how “wealth effects” work in monetary policy, or its a flat out lie to deflect blame to other political/social institutions.
There is no middle ground when saying something so absurdly untrue in that position of power.
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My 2010s
•started @ Goldman in jeans & beard
•called big commodity run, sold top
•started 1st company (boom&bust)
•started 2nd company (slow grind)
•started 3rd company, IPO
•started 4th company, IPO
•started 5th..& final 🤘
•working on a new economic theory of everything
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Very cool to see
#GoldmanSachs
publish my
#Bitcoin
&
#Gold
entropy-resistance-store-of-value framework in their Top Of Mind Crypto primer.
CC
@Frank_Giustra
@DanielaCambone
@GoldTelegraph_
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The market is a long term weighing machine, just check the scales against
#gold
.
The Fed is just stuffing endless paper in the ballot box of the short term voting machine, nothing more.
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Anyone else think we should enact even basic revolving door laws while policy printing is “temporarily” our entire market economy? How’s it fathomable we allow ex-money printers to lead fiscal policy & ex-regulators in asset managment firms while government is lead bid in market?
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Yes, we’ve been spending time with Evy & Blackrock,
@robert_ivanhoe
& Jeff Currie on green premiums.
This will be our core theme in ‘24. Our roadmap, our technology to execute this differentiates us from any other exchange & clearinghouse (CME, ICE, LME, SGX etc)
#29ers
$ABXX
"BlackRock says green premium is coming in mining"
Evy Hambro, Global Head and team leader of natural resources for BlackRock, validates the exact thesis $ABXX has in commodities
Commodities will receive a "green premium" based on how they were produced
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Update: bullion banks are back to calling retail/wholesale dealers & bidding up
#silver
large-bar inventories at crazy premium for eligible metal. I’m sure the ‘20 EFP pain still fresh & preparing for anything this week.
Heard one bank (Sunday!) offering spot +50c
@GoldTelegraph_
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We welcomed a special new tech-team member at Abaxx today, a talented Ukrainian software designer from Kiev who had to leave her homeland just as we were onboarding her.
Thanks to the magic of modern workflow, she’s now logged on via
@Zoom
today from Poland as a wartime refugee
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Merry Christmas
#29ers
! 🎄
..it’s been a busy Q4 run (and still sprinting with more before YE), but didn’t get this post this before.
Was great to meet
@CarbonLedgerCap
, knock back a few [not]BLs, cruise in the [not a Lucid]electric car. One of my fav days in this fall sprint!
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With the aggressive short 🩳 selling that’s been happening in $ABXX stock, and today’s announcement of institutional IR events, I just wanted to confirm that these are all exchange launch-related IR updates & non-deal road show events.
I repeat: we are NOT planning to raise
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Fun hanging with Robert Friedland in London yesterday. Always inspired by the child-like wonder in his passion for innovation & discovery.
Abaxx might still be priced & traded like a Canadian sh*tco, “your piss ant little company that people aren’t [smart] enough to understand
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Just think of all the digital advertising & manipulation it will take to rebuild society.
#FAANG
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A quick personal note in memorium for my grandfather, Dale Fimple, died today at 95.
Boxed his foster brothers for nickels in the streets of the depression, Pacific Tour, a career in cryptography & statistical routines for Sandia Labs (wayyy before cool!)
#GreatestGeneration
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World’s best individual, strategic, and institutional shareholders. I’ve been a part of a number of unique companies, legendary groups and ventures; nothing even comes close to this share register…and more come.
I’ve held shares of this business for over 3 years (since before the New Millenium RTO!)
Many gave up hope along the way.
Glad I stayed to finally witness this day!
Congratulations to
@JoshCrumb
, the whole $ABXX team, and all fellow shareholders who stayed the course. 🥂
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Abaxx Q1:
🔸All major market opening milestones completed Q1
🔸Closed final placement of +$55mm total for Exchange & 🆔++ (Canoe, Cboe, Blackrock, Wellington, Tom Ward, R. Friedland, Traxys, K2, Rothschild +more)
🔸3 FCMs approved (now 5 incl. indirect)
🔸Board attestation for 🚀
Abaxx Q4/Q1:
🔸 First new commodity clearinghouse licence in decade+
🔸 Closed +$30mm from Canoe, Blackrock, Wellington & K2 funds
🔸 Closed strategic investors Cboe global exchange group, battery metal trading leader Traxys, NatGas titan T.L.W.
🔸 🚀 ready
🔸 GenAI + 🆔++ = ?
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Through consultation with
#LNG
market participants over the course of many years,
@abaxx_exchange
has developed a European LNG benchmark contract 🇪🇺
The most trusted benchmark prices have convergence with the physical market through transparency, increased access & competition..
Taming gas price volatility and spikes:
The current pricing benchmark is no longer adapted to a market that is shifting from pipeline gas to LNG.
We will develop a new benchmark and put in place a mechanism to limit excessive gas prices in the meantime.
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A few shareholders asked me over past year why we “speculated on
#gold
”. My answer was that we were lowering counterparty risk. We owned gold in a Singapore vault. I saw risks in the banks & clearing system (most still don’t know about). Didn’t want to lose our startup capital
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