Goldilocks' Comments and Global Economic News Thursday Evening 5-2-24

May 2

Good Evening Dinar Recaps,

Advisor to the Prime Minister, Amer Al-Adad, confirmed that Al-Sudani succeeded in digital transfer in banks.

Al-Adad said, in a televised interview followed by Mawazine News, that “the Sudanese government is currently working on developing our proposal to form private “digital banks” that will do the work of government banks, in addition to many proposals to advance the Iraqi banking reality.”

He added, "The "knowledge economy" project developed by the government of Muhammad Shiaa Al-Sudani depends on information technology and cybersecurity, pointing out that government banks have problems in systems, governance, and human resources."

He pointed out that "the current government is working to train employees on the ASYCUDA system at the ports in order to increase the employees' expertise and ease of work, stressing that Sudanese has many reforms, including digital transformation in banks. Search4Dinar

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Iraqi Banks go Digital:

"His advisor: Al-Sudani succeeded in digital transfer in banks"

This is really good news for our investment. The Iraqi banks are now capable of digital transfers. When Iraq regulates their digital economy after MICA is finished (5-28-24) and Stablecoins become law on June 30th, 2024, we will begin looking toward credit valuation adjustments across the globe.

The difference this time around is that Iraq will be included. We still have to see what that means when we get to Q3. There will be many assets being refactored into the new economy after these dates. Mawazine News

© Goldilocks

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“AI Day” Agenda Announced for May 2 CFTC Technology Advisory Committee Meeting | CFTC

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BRICS Announcement:

"According to Anatoly Aksakov, Chairman of the Russian State Duma Financial Market Committee, talks on how the new currency will work have started and an agreement may be reached by the end of this year."

The plan is for this currency to be supported by gold, various precious metals, and other assets.

The purpose is for the BRICS Nations to be able to trade with one another and no longer have to deal with US sanctions on their currencies. VOI

© Goldilocks
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"The coming months will probably see financial institutions such as sovereign wealth funds, pension funds, and endowments start to trade in the spot ETFs, Mitchnick said in an interview."

Institutional money is beginning to trade within spot Bitcoin ETF. This will provide continuous liquidity and a use-case scenario for Bitcoin. The days of Bitcoin going to zero are fading away rapidly.

This will provide a use case scenario for Bitcoin and solidify a foundational framework for the new digital economy to expand from going forward. CoinDesk Investopedia

© Goldilocks
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Institutional money is beginning to come into the new Digital Economy.

© Goldilocks

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We are currently witnessing the beginning stages of institutional money providing liquidity for a new digital infrastructure.

At the same time, there is a move to provide a regulatory process for our new tokenized assets. The ability to pay for these new tokenized assets will come with the new Stablecoin law.

We are witnessing some of the final touches being placed on the new QFS.

© Goldilocks

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OKX Partners with Bitcoin Asia to Offer Bitcoin Ordinal Ticketing for Flagship Conference in Hong Kong | FinTech Futures

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Japan is one of the most active jurisdictions for tokenization and digital securities. Today the Tokyo Metropolitan Government announced a subsidy for security token issuances. | Ledger Insights
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The European Sting is Your democratic, independent, and top-quality political newspaper specialized in European Union News. Unique Features: iSting & Harry StingThe European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - European sting.comEU and Japan advance joint work on digital identity, semiconductors, artificial intelligence. European Sting

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EBRD launches new digital transformation facility with TEB loan | EBRD

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CNBC,

Stress Tests Reveal Hundreds of U.S. Banks at Risk Due to Loans and Rate Hikes Hundreds of small and regional banks in the U.S. are under financial stress, with 282 facing significant risks from commercial real estate loans and the effects of higher interest rates.

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Oh Deary, Where Did my Rate Cuts Go? Fed’s Wait-and-See Now Entrenched? And Suddenly Lots of Talk about “Rate Hikes” | Wolf Street

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Still, dozens of small banks merged into larger ones as lenders on both sides of deals pursued scale to better manage costs, diversify business lines and expand geographically. Banks announced 99 M&A transactions in 2023 , according to updated S&P Global Market Intelligence data. Mar 15, 2024 | American Banker

👆 Do you remember over 3 years ago when we first started our journey together talking about Bank Mergers, and how, we would see this near the end game?
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What happens when your banks are betting on your wealth? | Youtube

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