Goldilocks' Comments and Global Economic News Tuesday Evening 1-23-24

Good evening Dinar Recaps,

"On 27 December 2023, the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly issued a consultation paper1 (the Consultation) proposing regulatory regime for fiat-referenced stablecoin (FRS)2 issuers in Hong Kong.

The Consultation aims to establish licensing, supervision, and enforcement measures that align with global standards to effectively control the existing and potential risks linked to the development of stablecoins in Hong Kong.

The HKMA plans to launch a "regulatory sandbox" for potential issuers to facilitate the observation of stablecoins at the regulatory level in a controlled environment and will shortly be announcing the details of the arrangement."

We have gone over what a sandbox is before in this room. A sandbox is used to test and prepare for regulation a group of assets, and this one is testing Stablecoins. Stablecoins represent a currency inside of a country. In order for Hong Kong to test the currencies that trade with them in digital format, they are going through this testing period, so they can prepare these new Stablecoins for regulation under Global Standards on the new digital economy.

This will give us more clarity on the payment side of the new digital economy. On February the 29th, 2024, this consultation period will be over. At that time, they will be able to move forward with their Stablecoin in Hong Kong.

The beauty of this venue is that several other stablecoins will be tested and capable of being regulated according to Global Standards through this process as well.

This puts us inside the implementation stage for stablecoins to begin adoption into the new Digital asset-based Trading System. These new stablecoins on the new digital economy will then be able to put price pressures on the foreign currencies from around the world.

© Goldilocks
https://www.jdsupra.com/legalnews/hk-licensing-regulatory-sandbox-for-7963008/

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👆 👇 Freedom Fighter and Jester will break down these two articles on the SNL Call 👆 👇 

➡️   SNL Call 1/27/24 at 9pm EST ~: LINK

➡️   SNL Q and A opens the day of the call ~ Link 

👆 👇 Freedom Fighter and Jester will break down these two articles on the SNL Call   👆 👇

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"Between now and March the 11th, 2024, many adjustments will be made to secure company growth through these new Basel 3 Capital requirements. At that time, old liquidity will give way to a commodity-based support system."

Do you remember this quote by me on January 16th, 2024? On that day, we shared an article together on how the old liquidity system is going away and the reliance on a commodity-based system will be emerging early March.

Take a close look at the article today and see how all of these steps since the beginning of January and even January of 2 years ago have been layering themselves one on top of the other getting us to the point where we can start seeing price pressures starting to be made on the Forex currency markets.

Below is the old article for your viewing. Read for yourself, it is in black and white from Governmental Financial resources. The first one will give you the date you're looking to see.

This shift will begin putting price pressures on gold, paper currencies, and our new digital assets because of their connection to one another going forward.  Banking Dive Link    ISDA Link

© Goldilocks

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The new language of payments: BAFT releases whitepaper on navigating the ISO 20022 transition  |  Trade Finance Global

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Artificial intelligence in central banking

Central banks have been early adopters of machine learning techniques for statistics, macro analysis, payment systems oversight and supervision, with considerable success.

Artificial intelligence brings many opportunities in support of central bank mandates, but also challenges – some general and others specific to central banks.

Central bank collaboration, for instance through knowledge-sharing and pooling of expertise, holds great promise in keeping central banks at the vanguard of developments in artificial intelligence.

https://www.bis.org/publ/bisbull84.htm

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Protocol 20 Vote is One Week Out

On January 30th, the network's validators will cast their votes, and if they approve the upgrade, the Stellar network will immediately switch from Protocol 19 to Protocol 20.
 
This is super important and exciting! 
 
After more than two years of technical discussions, hundreds of thousands of lines of code, and over 150 projects (that we know of) deployed on Testnet, the upgrade will mark the era of a new Stellar smart contracts tech stack, one that delivers productivity through a batteries-included developer experience built to scale.
 
That said, validators are opting to increase capacity for Soroban transactions on Mainnet through a phased approach. The limited capacity for Soroban transactions on Mainnet means that Soroban dapps won’t be ready for use at scale until later phases. Limits on transactions that make use of existing Stellar operations won't be impacted, which means existing applications will continue uninterrupted.
 
With one week left before the vote, please upgrade all of your mission-critical software in preparation for Protocol 20. A new era of the Stellar Network is upon us, make sure you’re ready for it! Stellar Blog

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After Coronavirus 'War,' Bretton Woods-Style Shakeup Could Dethrone the Dollar

Remember, we have talked several times in this room that currency revaluations happen during or just after a war. It has happened time after time throughout history.   Coin Desk Link

© Goldilocks

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"What is the difference between distressed and opportunistic credit?

Dedicated distressed credit funds have almost 'disappeared' and been replaced by opportunistic credit or 'special situations' funds which typically target a much less cyclical opportunity set that is less dependent on a default cycle while retaining flexibility to invest in bankruptcy and restructuring scenarios."

"It may be helpful to think of opportunistic credit as an investment in dislocation. Put simply, it's a strategy that seeks to capitalize on periodic disruptions across public and private credit markets that can cause assets to become mispriced."

Take a look at these articles below, and you will notice how many companies are currently restructuring their debt and moving into opportunistic credit.

© Goldilocks

The Frontier Line
 AB - AllianceBernstein
SEC Link

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👆 We are revaluing and refactoring in new prices on all sectors of the market going forward.
Forex is one of them.

© Goldilocks

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"Agents of foreign remittance service providers ( Western Union, MoneyGram ) and external remittances."

Iraq is sharing with us their ways of moving money from one country to another. This can be done individually, through a business, or government transactions.

© Goldilocks
https://cbi.iq/news/view/2506

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Treasury officials call for action from US policymakers to regulate crypto before the next crisis hits | The Block

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FTX Sold About $1B of Grayscale's Bitcoin ETF (GBTC): Sources  |  Coindesk
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