Goldilocks' Comments and Global Economic News Thursday Afternoon 6-20-24

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"Almost two-thirds of countries in the Middle East and Central Asia are exploring adopting a central bank digital currency as a way to promote financial inclusion and improve the efficiency of cross-border payments.

Adopting a CBDC, however, requires careful consideration. Countries across these regions, spanning a diverse group of economies stretching from Morocco and Egypt to Pakistan and Kazakhstan, each must weigh their own unique set of circumstances

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

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Vietnam transitions to a cashless society

Visa’s Consumer Payment Attitudes Study 2023 indicates a significant rise in cashless payments, especially mobile wallet transactions, among Vietnam’s merchants.

A remarkable 79% of food and dining establishments and 74% of retailers and convenience stores now accept cashless payments.

Meanwhile, Visa’s Asia Pacific Small and Medium-sized Business (SMB) Research 2023 further indicates that over 40% of SMBs in Vietnam now accept card payments, acknowledging their critical role in business operations.

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

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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.

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

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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.

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

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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

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

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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.

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

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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.

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

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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.

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

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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.

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

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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

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

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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.

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

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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

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

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"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.