More News, Rumors and Opinions Tuesday PM 2-21-2023
Goldilocks and Seeds of Wisdom
Thank you R.J……
R.J.: Goldilocks posted 3 links regarding digital asset trading with commentary.
Goldilocks: Three things have recently developed in the digital asset trading system through the SEC.
First, the SEC has adopted the final rule to move from a two-day settlement to a one-day settlement. This is all possible because of the transformation processes taking place in our new digital asset-based economy.
Second, how this is accounted for through digital ledger transmission such as the ISO20022 that records both sides of a trade leaving a documented footprint on what took place inside an International Payment System.
\And finally, security and settlement transmissions through Web 3 applications will give us the ability to do these transactions through an International Banking System.
The Gold Standard is more than backing a piece of paper with gold. It is a process that includes banking system procedures whereby everyone is doing the same thing to get the same results all over the world.
© Goldilocks
https://www.jdsupra.com/legalnews/sec-adopts-t-1-settlement-cycle-for-7251517/
https://www.jdsupra.com/legalnews/sec-accounting-standard-setting-2617205/
https://www.natlawreview.com/article/united-states-sec-adopts-rules-to-reduce-risk-clearance-and-settlement
KTFA:
Henig: The first in 40 years. Security Memorandum of Understanding between Iraq and Saudi Arabia
2023-02-19 | 15:45
The Iraqi Interior Ministry announced on Sunday the signing of a memorandum of understanding with its Saudi counterpart, the first of its kind since 1983.
"Interior Minister Abdul Amir al-Shammari signed a security memorandum of understanding, the first of its kind since 1983, with Saudi Interior Minister Prince Abdulaziz bin Saud," the ministry said in a statement.
The signing of the memorandum was attended by Deputy Interior Minister Nasser Abdul Aziz Al-Dawood, Undersecretary of the Ministry of Interior Hisham Abdul Rahman Al-Falih, Undersecretary for Security Affairs Muhammad Muhanna Al-Manha, Director of Public Security Lieutenant General Mohammed bin Abdullah Al-Bassami, Ambassador of the Custodian of the Two Holy Mosques to the Republic of Iraq Abdulaziz bin Khalid Al-Shammari, Director General of Drug Control Major General Muhammad bin Saeed Al-Qarni, Director of the Minister's Office for Studies and Research Major General Khalid bin Ibrahim, Director of the General Department and International Cooperation Ahmed bin Solomon".
"This memorandum included all forms of security cooperation, exchange of visions and activation of joint security work to ensure more security for the Iraqi and Saudi sides," the statement added. LINK
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Clare: Finance: We are working on straightening the banking system
2/21/2023
Undersecretary of the Ministry of Finance, Masoud Haidar, confirmed the work to rectify the banking system to be able to mobilize financial resources.
A statement of the Ministry of Finance, which Mawazine News received a copy of, stated that "The Undersecretary of the Ministry of Finance, Masoud Haider, chaired today, Monday, an expanded meeting to follow up on the implementation of the government program, in the presence of the advanced staff in the ministry and its departments.
Achievements in departments, agencies and banks affiliated with the Ministry, and the extent to which the achievements are consistent with what is planned within the government program.
Haider stressed, according to the statement, the importance of proceeding with the implementation of the plans prepared within the program to develop the work of the customs and tax sectors, and the completion of the implementation of the project to automate the two sectors, as they are among the vital sectors that contribute to supporting the pillars of the national economy, along with the oil sector and other sectors.
Regarding improving the work of the banking sector, the agent explained, "We are working on evaluating the banking system to be able to mobilize financial resources, reallocate them, and improve their efficiency to serve economic activity, and work to modernize and strengthen it by bringing about changes in the banking industry, restructuring and crystallizing it to become more comprehensive for change and reform, and to lay the foundations." A stable and pivotal financial economy. LINK
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Courtesy of Dinar Guru
Nader From The Mid East If you talk about the private sector look at it a year ago and look at it now. It's gone 60%-70% better.
Paulette Baghdad is finally in the driver's seat. Let's hope the Coordinating Framework turns out to be the good guys. We are at a time that nobody truly knows who is good or bad in this world...My biggest question is will Nouri al-Maliki turn out to be good, bad or flipped? If I knew the answer, I woul
LIVE! Stock Market CRATERS, MMRI Spikes, Liquidity Drying Up, Big Retail Slammed.
Greg Mannarino: 2-21-2023
Junk Bond Companies "Exaggerated" Earnings Potential
Heresy Financial: 2-21-2023
Many investors are on the lookout to find where the next black swan might come from that could take down the markets.
And it looks like it might be hiding in plain sight in the junk bond market. Basically, you have companies that have, number one, a high amount of debt.
Number two, they have debt at very high interest rates. And number three, they have overstated their future earnings to the point where they may not be able to repay their debt.
Timecodes
0:00 Video Introduction
1:01 Many Companies Fail to Meet EBITDA Marks
3:04 Federal Reserve Using Special Vehicles
5:21 Banks Trying to Exit Junk Bonds