Goldilocks' Comments and Global Economic News Wednesday AM 6-19-24

Goldilocks' Comments and Global Economic News Wednesday AM 6-19-24

Good Morning Dinar Recaps,

Putin visits Vietnam. Why? “The main issues relate to shoring up economic and commercial ties, including arms sales.”

Putin and Vietnam's leaders were said to have been working on an agreement regarding ruble-dong currency transactions through the banking system. This meeting is expected to enable payment for goods and services.

Currently, Vietnam is expanding the value of its currency through the expansion of its elderly population through healthcare, commercial trade, and military arms expansion.

Proper military spending over GDP stabilizes and promotes currency values of a country. Why? Money spent on the military ends up in the private sector as payment for goods and services the military requires.

Each of these are indicators of a growing economy that justifies a higher value through demand on their currency inside a Market Economy.    Vision Times   Education CFR   Nature

© Goldilocks
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Nervous about the market? Here’s one thing you could do if shares start sinking fast

Jack Janasiewicz: The bottom line … is that there’s a disinflationary impulse coming. I think [Fed Chair Jerome] Powell was right to sort of look at [hotter-than-expected] January, February, March inflation data as maybe a little bit of an anomaly or a pause but not a reversal of that trend that’s going to continue to head to that 2% target.

So, again, heading in the right direction, it may be slower than people would like. But we’re going to 2%.

And then the other thing I would point to as well — the labor side of their mandate is becoming a little more focused. [The Fed] is one of the only central banks that has the dual mandate with price stability and full employment. It feels like the price stability side is coming into better focus.

As the economy slows a little bit here, and you start to see the unemployment rate tick a little bit higher … the Fed [could start] to focus on making sure that the unemployment rate doesn’t start to rise.

That could be the trigger for rate cuts. So we’re not ruling out rate cuts by September. We could easily have a cut. The data will tell us that, but I think the big takeaway for us is [inflation] going in the right direction.   CNN  

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Liquidity risk surged 41.4% at LCH’s Paris-based clearing house in the first quarter, reaching a level not seen in almost five years. | Risk Net

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OPEC sees no peak oil demand long term, secretary general says | Gulf Business

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The 2024 U.S. Presidential race sees cryptocurrency policy as a key issue, with both parties engaging in debates.

Paul Ryan urges lawmakers to create a regulatory framework for stablecoins to boost U.S. debt attractiveness.

Ryan highlights China's digital currency advances, stressing the need for U.S. adoption of dollar-backed stablecoins.    Read Write

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Guaranteed basic income programs spread across the country: Is it coming to your city? | Fox News

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Bank-to-bank payment messaging network Swift is working to facilitate interoperability of Verifcation of Payee schemes across Europe as new research shows that 83% of SMEs across France, Germany, Italy and Spain rank upfront beneficiary checks as important to them in trading across borders.

Swift bids to connect VoP schemes across Europe   FinExtra

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Goldilocks' Comments and Global Economic News Tuesday Evening 6-18-24

Goldilocks' Comments and Global Economic News Tuesday Evening 6-18-24

Good Evening Dinar Recaps,

The New International Valuation Standards (IVS) will become effective January 31st, 2025.

The latest version includes new chapters on:

* Data & Inputs,
* Documentation,
* Financial Instruments.

"The International Valuation Standards (IVS) are a framework used by valuation professionals in over 100 countries to ensure consistency, transparency, and confidence in valuations."

The most significant changes will result in Data Models and Money Flow by which these new mechanisms will move payments through new Digital Networks.

New valuations in currency values are part of these valuations due to new ways of doing business around the world involving the use of Local Currency over a World Reserve Asset.

The currency valuation adjustments that take place between now and then on the markets, however distorted they may get during this time, will help give rise to New Market Data that will go into the computations of these new standards.  IVSC   IVSC Standards Glossary   Linkedin

© Goldilocks
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"CHANGES TO OCC’S MERGER RULES ARE DESPERATELY NEEDED TO PROTECT THE FINANCIAL SYSTEM AND MAIN STREET AMERICA FROM TOO-BIG-TO-FAIL BANKS"

We have seen several Bank mergers the last few years, but the pace of these mergers is about to really pick up between now and the end of this year.

Did you know since the 1980s that the number of banks has declined around 70%? The anticipation of a new monetary system has been in the works for some time.

The Office of the Comptroller of the Currency (OCC) is currently working on closing loopholes, so clients in our banking systems can have better protection as we approach a deepening of the new Digital Banking System transition.  Better Markets

© Goldilocks
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Vietnam has golden opportunities to develop silver economy: expert-Xinhua

Vietnam has an aging population that will diversify their economy and expand it. Not only do they have an opportunity to grow through infrastructure opportunities, but they have the opportunity to grow inside an aging population that will engage their medical service opportunities as well.

These two aspects of Economic Development will go a long way in moving the demands of their currency to higher levels going forward.  English News

© Goldilocks

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Vietnam's outperformance relative to peers is a good news story that doesn't get enough notice. Like China, it is a communist country that has embraced enterprise and growth. Others should study its method for success.
My first Uber was in Hanoi. Vietnam welcomes trade, commerce, and innovation.  Twitter

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Vietnam is moving on up..

It looks like their Market Status is becoming a reality. | Youtube

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Watch “Webinar: Latest changes to the International Valuation Standards (IVS) - February 2024” on #Vimeo | Vimeo

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Tokenization May Provide Global Markets With More Efficiency, According to SEC Commissioner | DailyHodl

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Speech by Governor Bowman on innovation in the financial system - Federal Reserve Board

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Goldilocks' Comments and Global Economic News Tuesday AM 6-18-24

Goldilocks' Comments and Global Economic News Tuesday AM 6-18-24

Good Morning Dinar Recaps,

Washington, D.C. — Commodity Futures Trading Commission Chairman Rostin Behnam today announced the Commission will hold an open meeting on Monday, June 24 at 9:30 a.m. (EDT) at the CFTC’s Washington, D.C. headquarters.

Members of the public can attend the meeting in person, listen by phone, or view a live stream at CFTC.gov.

The Commission will consider the following:

Final capital and financial reporting comparability determinations and orders for certain nonbank swap dealers domiciled in Japan, Mexico, the European Union (limited to France and Germany), and the United Kingdom

Applications of ForecastEx LLC for Registration as a Derivatives Clearing Organization and a Designated Contract Market   CFTC    Live Stream

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Stellar: Blackrock and Franklin Templeton Fuel Tokenized Treasury | Crypto News Flash

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JUST IN: Cryptocurrency Earthquake at SEC - Head of Crypto Unit Resigns - Bitcoin Sistemi | Bitcoin Sistemi

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June 17, 2024 Goldilocks' Daily Breakdown Podcast Link

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Mastercard Collaborates with Thought Machine to Modernize Banking | Finance Magnates

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Goldilocks' Comments and Global Economic News Monday Evening 6-17-24

Goldilocks' Comments and Global Economic News Monday Evening 6-17-24

Good Evening Dinar Recaps,

The stock market has finally reached a topping phase. Look for the markets to begin leveling out and retracting at any moment.

Long-term fundamentals indicate that we are heading into a reset zone. These zones do not happen overnight and can sometimes take months to complete their cycles.

Even though most stock assets have turned towards a downward trend, the tech stocks in NASDAQ are holding many of the indexes up at the moment.

Many tech stocks are currently overvalued, so it is important that we watch this sector of the market as well closely.

We are currently in a tech bubble, but all bubbles do burst. The only thing keeping this Market from going to its real values lies in the fact that the government keeps pumping it with money.

Even if money does continue to be placed into the system to hold it up, I want you to know that we are heading into a movement that will take us into real values behind the scenes.

© Goldilocks

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E140: What Really Happens to Infinite Banking if the Dollar Collapses or Hyperinflation |  Living

👆  Goldilocks pointed to this article

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"XRP Officially Decouples From Bitcoin"

In financial markets, decoupling happens when the returns of one asset class moves in a different direction from their expected or normal pattern of correlations with other assets.

The days of XRP and Bitcoin rising and falling together appears to be taking new paths. Perhaps, Ripple is about to leave the nest.

Is XRP developing a life of its own based on its support levels or financial support systems giving it life?

Maybe, just maybe, we have a new leader of the pack. Ripple appears to be ready to "run with the wolves."   Trading View

© Goldilocks

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Goldilocks' Comments and Global Economic News Monday Afternoon 6-17-24

Goldilocks' Comments and Global Economic News Monday Afternoon 6-17-24

Good Evening Dinar Recaps,

EBA Announcement:

The European Banking Authority (EBA) has launched their comprehensive technical standards. This is for their Markets in Crypto Assets (MiCA) regulations, and it has been completed ahead of the July deadline.

These guidelines will provide financial and technical safety in the Web3 sector within the European Union (EU).  

Web 3.0 is the next phase of the internet built on blockchain technology. It will take our banking system into a Decentralized Financial System that is an open bank data system allowing for third-party connections and much safer to use. It gives the user more control over their finances.

These new published standards will serve as guidelines going forward in the following areas:
* liquidity requirements,
* stress testing programs,
* asset reserves,
* and recovery plans.

"The EBA’s guidelines also encompass regulatory oversight on asset-referenced tokens (ARTs) and e-money tokens (EMTs). ARTs maintain stable value by linking to other assets or fiat currencies, while EMTs represent digital versions of traditional fiat currencies, including central bank digital currencies (CBDCs)."

With this announcement, the European Banking Authority is now able to move forward with their fully regulated Markets in Crypto Assets.

The new Digital Asset Based Trading System in Europe has just taken its first step into the new Quantum Financial System. This new regulated Digital Financial System is now the model going forward for the rest of our countries around the world.

We're still waiting for these regulations to become law on June 30th, 2024. Our world is changing financially and personally. Europe took the first step into this brand new world. Many will follow. Coin Trust

Congratulations Europe!

© Goldilocks

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BOJ Announcement:

"The Bank of Japan on Friday said it would trim its vast hoard of government bonds as it cautiously steps away from its long-running ultra-loose monetary policy."

As you can see, several countries are beginning to pull back on bond buying and use of the US dollar.

This decrease in the use of the dollar and increase in local currencies around the world will begin the process of leveling the playing field in the currency markets.

New demands on local currencies that have not been used in years will begin to surface new price actions.    Barrons

Stay tuned!

© Goldilocks

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Open Banking | Youtube

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Web 3 | Youtube

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Dollar Dominance in the International Reserve System: An Update | IMF

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BRICS Gold Backed Currency Announcement:

"BRICS Plans Gold-Backed Currency Launch by September: Potential Boost for Bitcoin and XRP"

Saudi Arabia will sell oil in local currencies, moving away from the US dollar after 50 years.

The decision could drive Bitcoin and XRP prices to new highs, impacting global financial markets.

Crypto News Flash

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This New S&P 500 Artificial Intelligence (AI) Stock Is Growing 5 Times Faster Than Its Industry | The Motley Fool

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XRP Announcement:

A reliable currency-converting resource lists XRP as a currency alongside Bitcoin (BTC) and Ethereum (ETH), stirring discussions within the community. | The Crypto Basic

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"Don't Buy Into This Crap", Catherine Austin Fitts Warns "AI Is Digital Control" | ZeroHedge

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There’s a fake petrodollar news story doing the rounds that Saudi Arabia and the U.S. had a 50-year contract in which Saudi agreed to settle all its oil sales in U.S. dollars. Supposedly, this is meant to foreshadow the end of dollar dominance and is good for cryptocurrency prices. Except there was no such deal. | Ledger Insights

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👆The dollar is being used less and less. I just wanted to update you on a news story that was found to be fake.

© Goldilocks

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Goldilocks' Comments and Global Economic News Sunday Afternoon 6-16-24

Goldilocks' Comments and Global Economic News Sunday Afternoon 6-16-24

Good Evening Dinar Recaps,

EU Basel 3 Announcement:

The Fundamental Review of the Trading Book (FRTB) is a comprehensive suite of capital rules. They are developed by the Basel Committee on Banking Supervision (BCBS) as part of Basel III. Their intentions are to apply these rules to banks' wholesale trading activities.

The EU plans to delay FRTB because moving first would put EU banks at a competitive disadvantage to US banks.

This is a coordinated effort globally. Where one goes, we all go. Europe has given themselves a back wall date of January 1st, 2025 to to fully implement Basel 3 requirements. It looks like they have moved into a place that other countries are going to have to catch up to going forward.

Look for gold to be reclassified during this time and the digital economy to go ahead and move into its mass adoption. ICMA Group

© Goldilocks 

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"Lagarde Urges Governments to Respect Global Trade Rules"

Remember what we said the other day about Trade Wars beginning, and how, Treaty Agreements are signed at the end of them.

Trade Wars are attempts by countries to damage each other's trade, typically by the imposition of tariffs or quota restrictions.

This will cause distortions in prices that will have to be reset under new Treaty Agreements that are universally signed.

Look for this to come at a time when Basel 3 Capital Requirements can be implemented into a new financial order.    Bloomberg

Here we go.

© Goldilocks

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Here is the list of countries that will join BRICS:

* Africa:
* Algeria;
* Morocco;
* Nigeria;
* Chad;
* Equatorial Guinea;
* Eritrea;
* Senegal;
* Zimbabwe;
* South Sudan.
* Asia:
* Azerbaijan;
* Bangladesh;
* Bahrain;
* Indonesia;
* Kazakhstan;
* Kuwait;
* Palestine;
* Pakistan;
* Syria;
* Thailand;
* Vietnam;
* Sri Lanka;
* Türkiye.
* Latin America:
*  Bolivia;
* Venezuela;
*  Honduras.

BRICS Summit October 2024
Gazeta

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Figure Technology Solutions has launched Figure Connect, its blockchain-based marketplace for private credit. Outside of the qualified mortgage sector, most loan purchase agreements (LPAs) are bespoke, making them illiquid. Figure’s is promoting the use of standardized sales terms and documentation to make the market more liquid.   Ledger Insights   Figure Technology Solutions

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Bitcoin Suisse, one of the largest digital asset players in the country, has issued a digital bond via the Obligate platform. When asked for more details about the bond, Bitcoin Suisse told Ledger Insights that it is a technical prototype with a 12 month maturity, available only to qualified investors.
Ledger Insights    Bitcoin Suisse

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Marui, the large Japanese department store, issued a digital green bond in May. Not only did it use blockchain, but it was also directly issued to its customers as investors, with Securitize Japan providing the blockchain platform. Besides the digital bond, the green investment also has a blockchain angle.

It was a small digital bond issuance of just Yen 170 million ($1.1 million) with the investment available to Marui’s EPOS credit card holders. The 1% interest on the bond is partially paid in EPOS points and partly in real money.

The bond proceeds are intended to purchase a renewable energy power plant, although the small print also allows for energy-efficient building upgrades. Marui is partnering with Updater (formerly Minna Denryoku or Minden) for the renewable energy plant.

Updater has a blockchain-based platform, Enection 2.0, which tracks the source of renewable energy, allowing business buyers to pair electricity sales with energy attribute certificates (EACs) for green energy.  Ledger Insights   Marui   Enection 2.0   Digital Bond

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BIS launches Toronto Innovation Hub - Ledger Insights - blockchain for enterprise

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Testimony of Chairman Rostin Behnam Before the Subcommittee on Financial Services and General Government, Committee on Appropriations, U.S. Senate | CFTC

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PCPD Corporate Video | Youtube

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FADGI is part of a broader effort by NARA to move away from paper-based processes towards digitization.

Federal Agencies Digital Guideline Initiative (FADGI) guidelines are mandatory for federal agencies and affiliated organizations when digitizing archival records. 

The guidelines went into effect in June 2024 as part of the National Archives and Records Administration's (NARA) effort to move away from paper-based processes. By June 2024, all permanent records archived in the National Archives must be digitized and meet FADGI three-star quality standards.    Digitization Guidelines    Government Technology Insider

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Seeds of Wisdom Team Presents

The Goldilocks Daily Breakdown Podcast:

Are you too tired or too busy to read the daily Goldilocks articles that keep you up to date on the GCR?

We have you covered with a new podcast called the Goldilocks Daily’s.

Tune in each day at your convenience and listen to Mr. Anonymous break down the articles the Goldilocks Team brings to this community.

Mr. Anonymous will read each article for you and explain them in layman’s terms.

Listen on the go, in the car on your way to work, while walking the dog, or exercising at the gym. Listen anywhere, anytime, but listen and stay informed.

The New Goldilocks Daily’s - you’re sure to love it!

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What Iraq Must Do Before RV Can Happen | Youtube

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XRP RIPPLE UPDATE: CAN XRP ESCAPE THIS? | SEC VS RIPPLE | XRP Lawsuit Heats Up with Judge | Youtube

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BIS Survey: 94% of Central Banks Exploring Digital Currency – Featured Bitcoin News

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Goldilocks' Comments and Global Economic News Saturday Afternoon 6-14-24

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-14-24

Good Evening Dinar Recaps,

Project Meridian FX: Joint project by the Eurosystem and London Centres, and the Bank of England, to test synchronised settlement in FX | BIS  |  Project Meridian

Project Meridian Announcement:

"The Eurosystem and London Centres of the BIS Innovation Hub, together with the Bank of England, have launched Project Meridian FX, to build on the findings of Project Meridian by focusing on foreign exchange (FX) transactions."

Meridian FX has completed testing of the usability regarding standing orders for various types of assets and technologies ie foreign currency exchange.

It is expected to take the lead on innovations regarding real-time gross settlement (RTGS) systems operated by central banks.

By focusing on FX transactions,  Project Meridian is expected to settle FX trade issues, such as costs, risks, and time involved in cross-border transactions.   BIS  |  Project Meridian

© Goldilocks

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Project Meridian | Youtube

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Why It’s Time for Corporates to Jump on the ISO 20022 Bandwagon | Pymnts | Investopedia

“Now with the CHIPS ISO 20022 migration completed, the entire industry is clearly one step closer to realizing the benefits together,” Lee told PYMNTS recently."

She goes on to emphasize that the potential for ISO 20022 cannot be complete without involvement with banks, corporates, and financial institutions.

Clearing House Interbank Payments System (CHIPS) is well on its way in interfacing ISO on the QFS several financial institutions that are still in process of completing this launch.

"CHIPS is a private-sector, bank-owned system for electronic payments in US dollars. CHIPS is the largest US dollar-based money transfer system in the US and is used for large interbank transactions."

CHIPS is the preferred method of payment for large transfers. Over 95% of USD cross-border payments utilize this service for its completion.

© Goldilocks

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What is Clearing House Inter bank Payment System (CHIPS)? Urdu / Hindi | Youtube

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SEC asking Ripple for 100M settlement 

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Project Seraphim

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GOLD SILVER RATIO BREAKOUT 21st Century | Youtube

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More Goldilocks' Comments and Global Economic News Friday Evening 6-14-24

More Goldilocks' Comments and Global Economic News Friday Evening 6-14-24

Good Evening Dinar Recaps,

G7 vows to drop fossil fuels faster, but activists unimpressed - Swiss Info Channel

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How the U.S.-China Trade War Is Delivering Big Wins for Mexico | WSJ

Do you remember back at the first of the year, and even late last year, when we said that the peso would rise?

© Goldilocks

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Putin voices support for Turkey’s desire to join BRICS during talks with Fidan - Turkish Minute

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KFC Attacked in Baghdad! | Youtube

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Iraq and Japan discuss projects to produce energy from waste and sustainable management in agriculture and water – Iraq News Gazette

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Goldilocks' Comments and Global Economic News Friday Afternoon 6-14-24

Goldilocks' Comments and Global Economic News Friday Afternoon 6-14-24

Good Evening Dinar Recaps,

First, enlarge the chart above so you can get the full picture where you will see the last two charts at the bottom.

Take a look at the two bottom sections of this chart on the US Debt Clock. If you look at it closely, you will see that the production rate is not meeting the demand and supply rate.

As you can see from the numbers, the demand and supply is way above production. When the need rises as it will for our utility tokens on the QFS, prices will rise including our tokenized (gold) assets on the new market.

So, the shipping industry along with gold are in process of finding equilibrium that will enable the stabilized production of goods to synchronize themselves with stabilized prices in tokenized assets.

There is a shift in attention towards credit valuation adjustments taking place. This is where the fun begins.    US Debt Clock

© Goldilocks

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Let's sum up a little bit from the last article posted last night and this morning. On the Moscow Exchange, we have local currencies currently being traded.

This will enable countries to individually synchronize their gold with their shipping correlations through tokenized assets.

As these assets are interfaced on the QFS, real-world assets can now find real-world values as they are traded on the market.

As these new prices that form on the Moscow Exchange begin to solidify, we will notice a domino effect Globally as currencies and goods begin to exchange Internationally. This is the starting point. This is where it all begins.

This is a process determined by supply and demand revealing price determinations through price actions that take place on the market.

© Goldilocks

Last Night's Article

Russian economy forced into China pivot after sanctions bombshell | Newsweek

Goldilocks Room Message Link

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Sovereign Wealth Fund Announcement:

"Hong Kong: New Sovereign Fund Starts Deploying Capital" The first batch of investments and start-ups begin this month. Why?

The purpose of a Sovereign Wealth Fund is to move onto the Global Market the assets and startup pools of liquidity in a country on the International stage through the liquidity provided by the SWF.

Hong Kong's new "tokenized assets" are in process of being interfaced onto the QFS. These new real-world asset prices based on real-world values will begin to reset and correlate themselves with new market chart patterns.

As they are being formed, movement into actual prices going forward will be gradual and not a shock to the system.   Asian Investor   Toptal

© Goldilocks

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World Federation of Exchanges says tokenization’s main benefit is fractionalization | Ledger Insights

The World Federation of Exchanges (WFE), the global trade body for stock exchanges and clearing houses, today published a paper on tokenization.

On balance, it was critical of the concept, although it concluded that it “may be the next phase for traditional assets."

It found that the primary benefit of tokenization is fractionalization. And by making fractional assets available to a larger pool of investors, there’s potential to enhance liquidity. 
WFE, Published Paper

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Do wholesale CBDCs compete with bank services? | Ledger Insights

Most banks are not keen on retail central bank digital currencies (CBDCs) because they fear it will lure away bank deposits. The recent support by the American Bankers Association for the anti-CBDC Bill is evidence of this. Wholesale CBDCs  – the ones only usable by institutions – were considered useful for banks.

However, some institutions are keener than others, often depending on the application of the wholesale CBDC. Executives in the securities services sector are usually the most enthusiastic. On the payments side, JP Morgan’s Umar Farooq appeared to have reservations during last month’s Consensus event.

CBDCs  American Bankers Association   Wholesale CBDCs

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Iraq's Development Road may link with China's Belt and Road | Iraq Business News

l-Sudani outlined Iraq's interest in developing gas projects to boost the manufacturing and fertilizer industries, adding value to the economy and creating job opportunities. He proposed presenting potential sites to CNPC for integrated energy projects comprising oil and gas production, processing plants, power plants, and petrochemical refineries.

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Risk of a global trade war if U.S. administration changes: Barclays | Youtube

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And the trade war begins...
     ... at the end of this trade war, new credit valuation agreements will be signed.

© Goldilocks.

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More Goldilocks' Comments and Global Economic News Thursday Evening 6-13-24

More Goldilocks' Comments and Global Economic News Thursday Evening 6-13-24

Good evening Dinar Recaps,

Multiple Chinese banks announced their involvement in the mBridge cross-border central bank digital currency (cross-border CBDC) trials after the initiative launched its minimum viable product (MVP) last week.

At least nine Chinese institutions are involved in the project, although that figure might now expand with the MVP. |  Ledger Insights

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Stablecoin issuer Paxos cuts 20% of its staff as PayPal receives Trust charter | Ledger Insights

Stablecoin issuer Paxos sent an email to staff saying it’s cutting its workforce by 65 people or around 20% of its staff. That’s according to The Block and Bloomberg, who viewed a company-wide email that Paxos confirmed. The move comes despite a strong balance sheet. Two weeks ago we reported that PayPal received a New York trust charter for digital assets, which it has not yet formally announced. The two pieces of news may be related.

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Introducing Ripple USD (RLUSD)  |  The Crypto Basic

A 1:1 USD-backed stablecoin, offering transparency and stability on the XRP Ledger and Ethereum. Coming later this year.

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Worldwide - Oil, Gas & Electricity - Another Major European Bank Withdraws From Fossil Fuel Financing | Mondaq

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United States - Renewables - Treasury Department, IRS Issue Section 45Z Clean Fuel PTC Registration Guidance | Mondaq

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Goldilocks' Comments and Global Economic News Thursday Afternoon 6-13-24

Goldilocks' Comments and Global Economic News Thursday Afternoon 6-13-24

Good Evening Dinar Recaps,

"Singapore Consults on Implementation of Global Minimum Tax"
The Organisation for Economic Co-operation and Development has a 15% tax on multinational enterprises.

Singapore is the latest country to propose the implementation of this tax upon their companies.
This is a market-based collaboration between Global economies designed to develop policy standards that promote sustainable economic growth.

This Capital requirement for the banking system on a global scale comes under pillar 2 banking procedures. Pillar 2 banking supports pillar 1 banking to cover the needs of capital requirements that are not covered in pillar 1. Pillar 3 deals with the open banking system allowing changes to be determined as needed. Below is an article if you would like to do further study on this announcement.

Its purpose is to level the playing field between economies and their opportunities for growth. A unified approach will give countries' currencies the ability to compete with demands for their money based on their own merits and ability to operate a business through the new Basel 3 requirements. Orbitax  StateGov   Acodez

© Goldilocks
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HSBC Announcement | Finance Feeds

"HSBC China has become one of the first foreign banks in the country to provide digital yuan services to both corporate and retail customers."

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Fortune 500 Announcement |  DailyHodl

Currently, over half of the Fortune 500 companies listed on the market are currently in process of interfacing their goods and services on the blockchain.

This means that they have currently begun the process of moving into the new QFS and operating their tokenized asset opportunities through the new digital asset-based trading system.

© Goldilocks
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Zimbabwe is taking an exciting step into the future by launching a public consultation to get opinions on regulating cryptocurrency operations in the country, Bloomberg reports. This is a big change for a nation that has historically struggled with currency issues.

By asking for feedback from the public and talking to industry experts, Zimbabwe aims to balance encouraging innovation in the growing crypto sector with making sure it’s done responsibly and in line with international standards.   Bitcoinist

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Quant ISO 20022 Token utilized on the Shanghai Exchange Announcement:

"Chinese regulators' prompt supervision of quantitative trading will help narrow the gap between programs and individual investors in terms of technology, access to information and speed, thereby boosting the confidence of A-share investors and sustaining the stability of the market in the long run, according to market mavens.

The mainland's three major stock exchanges in Shanghai, Shenzhen and Beijing released on Friday rules on quant trading, or program trading, and solicited public feedback till June 14.

The rules cover six major areas — the management over reporting, trading activities, information systems, high-frequency trading, quant trading via the stock connect program linking the Shanghai, Shenzhen and Hong Kong bourses, as well as supervision."

Quant is a ISO 20022 Network. Quant is a network that connects existing distributed ledger networks such as the Shanghai Exchange to the new digital asset based trading system.

Through the adoption of this ISO 20022 Standard, Quant brings compatibility with traditional financial systems and streamlines secure exchanges of data across several networks simultaneously such as the Shanghai Exchange.  ChinaDaily   CoinCheckup

© Goldilocks

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Bank of Thailand opens DLT programmable payment testing in sandbox - Ledger Insights - blockchain for enterprise

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Goldilocks' Comments and Global Economic News Wednesday Afternoon 6-12-24

Goldilocks' Comments and Global Economic News Wednesday Afternoon 6-12-24

Good evening Dinar Recaps,

"BASEL COMMITTEE MUST STOP GLOBAL BANKS FROM CONTINUING TO CHEAT ON KEY REGULATORY TESTS AND ENDANGERING FINANCIAL STABILITY" | BetterMarkets

These tests include examinations of the bank's capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to systemic risk.

The above sentence is otherwise known as stress tests. A stress test determines how well a bank is capable of handling a liquidity crisis.

The OCC and FDIC conduct several tests to measure a bank's capacity to withstand transitional periods like we are in at the present time.

These tests are conducted to prevent crisis interventions and collapse situations that could become a contagion to other Banks.

Tighter controls on the new digital banking system are not only expected, but they will determine the compliance level a bank has in their standing going forward.  BetterMarkets

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BRICS: BRICS calls for enhanced use of local currencies in trade between member countries - The Economic Times

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Joint Statement of the BRICS Ministers of Foreign Affairs/International Relations, Nizhny Novgorod, Russian Federation, 10 June 2024 - The Ministry of Foreign Affairs of the Russian Federation | Ministry of Foreign Affairs

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Call to Action: ISSB Global Adoption

"The International Sustainability Standards Board (ISSB) is an independent, private-sector organization that develops and approves IFRS Sustainability Disclosure Standards."

The International Financial Reporting Standards are intended to make financial statements consistent, transparent, and comparable around the world.

The IFRS S1 and IFRS S2 are climate standards on an economy looking to be accepted on a world wide basis by 2025.

"IFRS S1 requires companies to disclose material information on all sustainability-related risks and opportunities that could reasonably be expected to affect their prospects. IFRS S2 sets out the requirements for climate-related disclosures."

Sustainability-related risks deal primarily with liquidity issues surrounding the banking system such as Governmental risks and economic factors.

Greenhouse gas (GHG) emissions is a climate-related risk. It is a climate related disclosure being proposed, and how, the banking system will be a part of managing those risks ie car loans.

Many compliance rules are expected to shift inside the new digital economy along with climate risks that will affect banking operations. This is one of the new adaptations that is being called for to help us adjust to our changing world.

As you can see from the previous article, new changes are being developed and governed by the ruling bodies above and beyond the banking system to recommit their International compliance standards inside this new digital banking system.   CorpGovLaw   EY   IFRS   PWC   Zurich

© Goldilocks

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National and International governing bodies are starting to get involved with their new policies that will govern the new digital banking system.

This gives us an indication that the governing bodies of our new banking system are beginning to shift their attention to new rules and regulations that will move our money going forward.

© Goldilocks

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How will Europe's elections impact digital euro legislation? - Ledger Insights - blockchain for enterprise

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Russia intends to perform its first cross-border payments using the digital ruble in the second half of 2025. Central bank digital currency (CBDC) transactions with China or Belarus are on the cards. That’s according to Anatoly Aksakov, who chairs the Financial Markets Committee of Russia’s State Duma. |  LedgerInsights

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Panel perspectives: Navigating the new waves of supply chain finance |  TradeFinanceGlobal

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Project Cedar, Explained (Wholesale Central Bank Digital Currency Prototype).  How the 7 trillion dollar a day Forex Market will move its money. | Youtube

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We are moving from a World Reserve Asset transaction to Central Bank Digital Ledger Technological (blockchain) transactions.

© Goldilocks

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🚨BREAKING: BRICS Says 59 Nations Plan to Join, New Financial System, Dedollarization Priorities | Youtube

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A Distributed Systems Reading List | Ferd CA

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Putin Says BRICS Developing Independent Payment System Free From Political Pressure – Featured Bitcoin News

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Ripple Completes Acquisition of Standard Custody & Trust Company – News Bytes Bitcoin News

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Saudi Arabia's petro-dollar exit: A global finance paradigm shift | The Business Standard

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Russia’s Moscow Exchange to stop trading in dollars after latest US sanctions | ARA TV

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FOMC Press Conference June 12, 2024 | Youtube

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Goldilocks' Comments and Global Economic News Tuesday Evening 6-11-24

Goldilocks' Comments and Global Economic News Tuesday Evening 6-11-24

Good Evening Dinar Recaps,

"Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach."

This project has reached its minimum requirements that will allow it to work with early adopters on this Digital Ledger Technology enabling instant payments through cross-border International (CBDC) trades. This system will allow foreign currency exchanges through local currencies.

There are now over 26 observing members and Saudi Arabia has just recently joined as a full participant. This DLT will allow payments to be settled in local currencies of those who are early adopters of this new digital payment system.

"Project mBridge is the result of extensive collaboration “starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority.”

In 2022, real value transactions took place on a pilot program and were successful. This project has been coordinated with the Bank of International Settlements, and it is expected to be available by mid-2024.

Since mbridge has reached its minimum viable product stage, it is now able to invite the International community to begin interfacing onto this section of the QFS.

© Goldilocks
Crowdfund Insider

As of June 2024, the observing members to Project mBridge include: Asian Infrastructure Investment Bank, Bangko Sentral ng Pilipinas; Bank Indonesia; Bank of France; Bank of Israel; Bank of Italy; Bank of Korea; Bank of Namibia; Central Bank of Bahrain; Central Bank of Chile; Central Bank of Egypt; Central Bank of Jordan; Central Bank of Malaysia; Central Bank of Nepal; Central Bank of Norway; Central Bank of the Republic of Türkiye; European Central Bank; International Monetary Fund; Magyar Nemzeti Bank; National Bank of Cambodia; National Bank of Georgia; National Bank of Kazakhstan; New York Innovation Centre, Federal Reserve Bank of New York; Reserve Bank of Australia; South African Reserve Bank; and World Bank.   BIS   Ledger Insights   Product Plan

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According to this report, supply and demand issues in trade are currently in an imbalanced state. The demand for goods and services has steadily grown since the Covid-19 pandemic, and first quarter numbers show a significant growth for the United States and for China. Yet, we are not out of the woods, and supply and demand need to be brought into equilibrium.

High demand is good for traders, and it looks good on the Markets. It is the supply side that is lacking at the present moment due to inflated prices on goods and services. In order to balance the economy and make it grow steadily and forward, there needs to be more attention on moving the products across the country. This will increase money flow and demands on our Stablecoins that in turn gives more purchasing power to our currencies.

Here is where monetary policies come into play. As we move into a tokenized asset and gold token regimen for payment, this will stimulate the process of deflating the economy. A shift in interest rate reduction or remaining steady will give our suppliers liquidity capable of catching up to the demands of companies across the United States and China. 

We are at a wait-and-see approach on the FOMC meeting. The changes made at this meeting and the next one are critical to the transition of our economy and it's moving back into profitable status. Supply Chain Brain Investopedia

WATCH THE WATER.

© Goldilocks

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When will the next fed rate cut be? Look ahead to future FOMC meetings | Investopedia
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Mastercard Launches Open Banking Solutions in Partnership With Atomic to ‘Enhance User Experiences’ |  The Fintech Times

Payments giant Mastercard has integrated Deposit Switch and Bill Pay Switch into its open banking platform, in a move that enables consumers to automatically switch their direct deposits and update their recurring bill payments, when opening a digital account or when updating information on an existing account.

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XRP COULD BECOME THE WORLD'S RESERVE CURRENCY - RIPPLE XRP NEWS | Youtube

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Iraq Seeks $2.5 Billion Missile System from South Korea #iqd #vnd #htg #ZiG Rates | Youtube

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Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements | Coin Trust

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Italian Banking Association trials two styles of wholesale CBDC - Ledger Insights - blockchain for enterprise

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Fidelity Intl tokenizes fund on JPM Tokenized Collateral Network - Ledger Insights - blockchain for enterprise

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Solar-Powered Planes Are Ready to Take Off (And Fly for Months at a Time) - WSJ

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BREAKING NEWS:

Apple unveils "tap to pay" between iPhones! 📲

Apple is interconnected with Ripple's Interledger Protocol! 🤝🏼

All the roads lead to one destination and the destination is called #XRP 💎  Crypto Barbie on Twitter

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