SmarterMarkets™ Gold for the 21st Century Episode 11 | Thomas McMahon, Co-Founder, Abaxx Technologies
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Jun 14, 2025 This conversation features Thomas McMahon, Co-Founder of Abaxx Technologies, who brings a wealth of experience from the commodity markets. He dives into gold's historical role as a hedge against the US dollar and examines its evolving significance in today’s financial landscape. The discussion highlights the changing perceptions of gold across cultures and regions, particularly between the West and Asia, and explores the implications of new trading hubs. Listeners gain insights into the future of gold in global finance and its potential resurgence in investment strategies.
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Early Commodity Market Experience
- Thomas McMahon shares his early experiences working in commodity exchanges and handling silver certificates as collateral.
- He explains how gold began to replace silver as the preferred collateral starting in 1974.
Gold's Cultural Role in Asia
- Gold holds significant cultural and economic importance across Asia, especially in farming economies like Malaysia.
- Programs use gold as collateral for loans, emphasizing its role beyond speculation.
US Dollar Dominance Explained
- The US dollar remains the dominant global currency because it prices most commodities worldwide.
- Despite desires from other nations, no currency matches the dollar's role in commodity settlement and clearing.