Goldilocks : "The Clock is Ticking" Friday 5-5-2023
Goldilocks and Seeds of Wisdom
Thank you RJ
Good morning Dinar Recaps,
Goldilocks posted explanations/comments and links this morning:
The jobs reports just came in a few minutes ago. Overall, it's showing that it is holding its own and currently giving the FEDS a reason to raise interest rates another time or two.
The jobs reports revealed that there is a slowdown in jobs, but it is not as significant enough as hoped by the FEDS to claim victory over inflation just yet.
This will take a toll on Regional Banks and create more of a liquidity crisis going forward which can and will affect future job reports.
Liquidity is quickly becoming an issue and good reason to continue on with digital/currency reforms. This is why digital/currency reforms are in the forefront in Congress, and they have until the end of June to finish them.
© Goldilocks
https://finance.yahoo.com/news/short-sellers-flocking-us-banks-085536867.html
https://www.theguardian.com/business/2023/may/05/us-banking-crisis-risks-becoming-self-fulfilling-prophecy-analysts-say
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Here's where we stand on the legislation efforts taking place in Congress on Stablecoins.
Currently, there is a battle going on with the labeling and definition of what a Stablecoin is and represents.
Stablecoins represent a country's currencies, as such, the labeling and defining of its use case scenarios will determine how it is processed through the new digital-asset financial system.
The battleground is over whether to call Stablecoins digital assets or tokenized deposits.
The focus is moving towards tokenized deposits due to the nature of regulatory requirements it will take to move them through the system.
"We have four credible options on the table – fiat-backed, nonbank-issued stablecoins such as USDT and USDC, fiat-backed bank-issued stablecoins such as EUR CoinVertable, CBDCs and tokenized deposits."
Each of these Stablecoins is currently on the market. They are presently competing with one another for top bid and being studied closely.
The clock is ticking to meet the June 30th deadline, but these are the issues we are dealing with that will allow us to move forward.
© Goldilocks
https://www.coindesk.com/policy/2023/05/03/us-sec-changes-its-mind-on-officially-labeling-digital-assets/
https://finance.yahoo.com/news/stablecoin-olympics-no-winner-184225439.html
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