Goldilocks' Comments and Global Economic News Sunday Evening 6-9-24
Goldilocks' Comments and Global Economic News Sunday Evening 6-9-24
Good evening Dinar Recaps,
Saudi Arabia joins BIS- and China-led central bank digital currency project | Reuters
Today, we are witnessing a 100-year cycle/bubble in the markets and a 50-year pact going away with Saudi Arabia moving from the Petro Dollar to trading in local currencies.
I wouldn't expect too much of a shift the next 2 to 3 days on the Dollar, but the weeks ahead will have a significant toll on the Dollar going forward.
This shift in the Global Economy will begin the process of "leveling the playing field" and reset new demands on currencies that have not been utilized in trade for a long time.
All of this is coming at a very pivotal time. As we shift our attention from the Petrol Dollar to Stablecoins that represent our local currencies in trade among nations, these new demands will increase money velocity that will raise the value of currencies around the world.
This is a process that takes a little time to see changes happen, but the process has begun. Reuters
WATCH THE WATER.
©✓Goldilocks
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Breaking the Bank: Sen. Lee Introduces Bill to Abolish the Federal Reserve | Lee Senate
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Central Banks of the World Explained
It is important to note that we are moving from a Petro Dollar regimen to a Central Bank Digital System.
There are about 214 Central Banks around the world that are officially recognized by countries as of Feb 16, 2023.
The new Global Economy is moving into a "shared governance regimen" whereby "leveling the playing field" between countries through Central Banks are beginning to lead the way.
It is the wCBDC coins that will move money around in cross-border International trading. This is causing a shift in the movement from a World Reserve Asset to a shared Central Bank Governance. PLUS50 Stabroek News
© Goldilocks
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Remember the Golden Rule! Whoever has the gold, makes the rules! | Economic Sociology
"He who holds the gold makes the rules." This is never been more applicable than it is as we approach our new world.
The Central Banks govern the banking system.
Who has been storing the gold? The Central Banks. Now, you can begin to see where this is heading.
© Goldilocks
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DTCC testifies to Congress on opportunities to advance financial markets | Asset Servicing Times
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The New York Fed acts as the guardian and custodian of the gold on behalf of account holders, which includes the U.S. government, foreign governments, other central banks, and official international organizations. No individuals or private sector entities are permitted to store gold in the vault. | NewYorkFed
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What Central Banks Do | Investopedia
On a macro basis, central banks influence interest rates and participate in open market operations to control the cost of borrowing and lending throughout an economy. Central banks also operate on a micro-scale, setting the commercial banks' reserve ratio and acting as lenders of last resort when necessary.
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Central Bank | Wikipedia
In some countries a central bank, through its subsidiaries, controls and monitors the banking sector. In other countries banking supervision is carried out by a government department such as the UK Treasury, or by an independent government agency, for example, UK's Financial Conduct Authority.
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Steady as we go: results of the 2023 CPMI cross-border payments monitoring survey | BIS
Enhancing cross-border payments has been a G20 priority since 2020. This ambitious programme requires action by individual jurisdictions and payment systems. The CPMI survey results show determined progress: the vast majority of payment systems have or are in the process of implementing at least one action that the G20 considers to be relevant to enhance cross-border payments.
Despite the promising number of initiatives planned to enhance cross-border payments, the survey results also highlight potential areas for further work. Projects to enhance cross-border payments cannot be seen in isolation and should complement domestic projects, given that the first and last miles of cross-border payments are typically processed in a domestic payment system.
Central banks, in their roles as catalysts and operators, are key to bringing cross-border payments forward. International organisations and standard-setting bodies, such as the CPMI, the IMF, and the World Bank, can support central banks in their ambitions.
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Cash isn't going away, despite declining use | PaymentsSource | American Banker
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Russia and China to cooperate on Arctic shipping route | Ship Technology
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New Law Grants U.S. President Sweeping Powers to Block Digital Asset Access, Sparking Concerns - Crypto Daily
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