Goldilocks' Comments and Global Economic News for August 11, 2023
Good evening Dinar Recaps,
Goldilocks posted comments and news links on the global financial system:
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Tradeweb has partnered with LSEG FXall. This is an electronic platform for Global currency products. It is designed to launch FX Swap Workflows.
FX Swap Workflow is a multi-asset digital solution capable of exchanging digital processes across local currencies such as Emerging Market bonds and foreign currency swaps through a single interface.
An interface is messages passed back and forth between two computers allowing data to be assessed and approved to move forward with a currency transaction from anywhere in the world.
This new mechanism has been a part of the Forex currency reforms as of late being designed to create more efficiency and security in this sector of the market.
Good evening Dinar Recaps,
Goldilocks posted comments and news links on the global financial system:
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Tradeweb has partnered with LSEG FXall. This is an electronic platform for Global currency products. It is designed to launch FX Swap Workflows.
FX Swap Workflow is a multi-asset digital solution capable of exchanging digital processes across local currencies such as Emerging Market bonds and foreign currency swaps through a single interface.
An interface is messages passed back and forth between two computers allowing data to be assessed and approved to move forward with a currency transaction from anywhere in the world.
This new mechanism has been a part of the Forex currency reforms as of late being designed to create more efficiency and security in this sector of the market.
Clients are able to buy and sell Emerging Market bonds through this electronic mechanism allowing a "request for quote" and a "request for market" protocols to complete a trade.
It is more than just an efficient way of doing foreign currency trades. It also enhances local currency risk around the world.
© Goldilocks
https://www.assetservicingtimes.com/assetservicesnews/technologyarticle.php?article_id=14687&navigationaction=technologynews&newssection=technology
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BRICS Bank To Increase Funding in Local Currency, Ditching U.S. Dollar
As we have noticed, the price of the dollar has increased lately. And now, the decreasing value of the dollar can no longer be relied on for trade in the East.
This has forced the New Development Bank to trade and lend in local currencies strengthening their positions in the local markets.
Currently, the New Development Bank has been funding local currencies and de-dollarizing at the same time.
New liquidity is forming in the Eastern half of our world as new money velocity and new demands will forge new price patterns to emerge.
© Goldilocks
https://watcher.guru/news/brics-bank-increase-funding-local-currency-ditch-u-s-dollar
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Silvercorp Metals' Path to Sustained Growth in Today’s New Electrification Economy | SilverSeek
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Bitcoin: US Bank Drops Crypto Bombshell, Reveals $82M BTC Reserves.
AUGUST 10, 2023 BY LIPIKA DEKA
Bitcoin continues to drive institutional interest, as revealed by SoFi Bank’s Q2 earnings report. The San Francisco-based bank is causing a stir in the financial industry thanks to its wide range of digital assets, which include Bitcoin, Ethereum, Litecoin, Cardano, Solana, and even Dogecoin.
https://www.tronweekly.com/bitcoin-us-bank-82m-btc-reserves/
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What are ISO 20022 Coins? A Guide to Compliant Cryptocurrencies
https://www.techopedia.com/definition/iso-20022-coins
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Banking announcement:
US Senators Reintroduce Digital Asset Anti-Money Laundering Act.
By Editors, Regulation Asia Published on 10th August 2023
The bill, if enacted, would require firms to start reporting crypto transactions exceeding $10,000 after 18 months.
https://www.regulationasia.com/us-senators-reintroduce-digital-asset-anti-money-laundering-act/
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Banking announcement:
The digital pound.
We are looking at the case for issuing a digital pound. This type of money is known as a central bank digital currency (CBDC).
It would not replace cash.
https://www.bankofengland.co.uk/the-digital-pound?sf180375266=1
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Currently, we have two RVs taking place. One is for the banking system. The other is for the people.
The first one has to be done before we can move to the second one.
Stay tuned.
© Goldilocks
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Market risk is climbing.
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Zimbabwe: Reserve Bank Set to Introduce Gold-Backed Digital Tokens for Daily Transactions
https://allafrica.com/stories/202308110221.html
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Goldilocks' Comments and Global Economic News for July 9, 2023
Good morning Dinar Recaps,
An unstable market has a profound effect on an economy. It sends the value of countries' goods, services, and currencies into a great deal of volatility.
This is why we are not seeing any prices set for gold, silver, and oil on the debt clock just yet.
Let's take a deep dive into these three assets that govern the global economies' currency values.
There is a correlation between gold and oil, but the price of silver has a life of its own when it comes to affecting the currency market. In the future, this is about to change. These three assets will be intertwined with one another.
We have a lot of electronic vehicles coming into our new market that requires a lot of silver for its production along with copper. Look for the price of copper to raise with the price of silver. Keep saving those pennies.
Good morning Dinar Recaps,
An unstable market has a profound effect on an economy. It sends the value of countries' goods, services, and currencies into a great deal of volatility.
This is why we are not seeing any prices set for gold, silver, and oil on the debt clock just yet.
Let's take a deep dive into these three assets that govern the global economies' currency values.
There is a correlation between gold and oil, but the price of silver has a life of its own when it comes to affecting the currency market. In the future, this is about to change. These three assets will be intertwined with one another.
We have a lot of electronic vehicles coming into our new market that requires a lot of silver for its production along with copper. Look for the price of copper to raise with the price of silver. Keep saving those pennies.
There is no doubt that the need for silver and copper in the future will play an important role in our global economies by way of jobs and the effect of a country's GDP.
Gold and oil play a much different role, but they have an equal or greater effect on our global economy than most people realize.
In today's world, many of our Eastern countries are pegging their local currencies to gold as we speak. The activation of Basel 3 compliance mechanisms inside a Basel 4 implementation will change the world. This will increase the value of Eastern countries' currencies purchasing power as the dollar is decreasing it's purchasing power.
To give you an idea how much OPEC controls the oil supply. It is estimated that 80% of it's proven oil supply runs through OPEC and 67% of that supply comes from the Middle East.
For this reason, OPEC is reducing the use of the Dollar in oil settlements and including the Yuan which is backed by gold in payments. When the BRICS Nations implement their own gold-backed currency, the need for the dollar will significantly decline.
If this were not enough, OPEC is calling on other countries besides Saudi Arabia and Russia to lower their oil production. This collective move changes the role and money velocity of the dollar while increasing money velocity in Eastern countries resetting their business models.
Again, we are in a currency war that will determine the way we live and how. It's all about situating ourselves inside choices that will determine our future.
For these reasons, we have not seen a repricing event in oil, gold, and silver. There is a positioning taking place in these three markets that will level the playing field going forward on our currencies causing them to have a repricing event that will reset our Global Economy.
Are you still watching the water?
© Goldilocks
https://www.nytimes.com/2023/07/03/business/saudi-arabia-russia-oil-cuts.html
OPEC LINK
Finance Yahoo LINK
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"In its latest Article IV assessment of the UAE, the IMF said that the country’s oil and gas sector is “under pressure” from the global energy transition. However, the IMF also noted that the UAE has “significant opportunities” to invest in renewable energy and other green industries."
There is tremendous pressure on the global economy being applied to move into green industries.
This will no doubt take a toll on the oil market going forward. In the meantime, the oil market will serve as a transitional commodity as countries in the east gain enough liquidity to move into a Green Market.
© Goldilocks
https://solarquarter.com/2023/07/07/imf-urges-uae-to-seize-economic-opportunities-in-green-transition/
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"It’s all part of Pozsar’s “Bretton Woods III” vision, where the dollar ultimately loses its hegemonic status over the next decade.
Importantly, he sees a different outcome from that of the British pound’s loss of reserve status in the early 20th century, when the U.S. dollar simply supplanted it.
Instead, he predicts a multi-currency world where no one currency is dominant, a result made possible because of CBDC clearing mechanisms, which negate the need for reserve currency intermediation.
Negotiating counterparts will need to agree on which of their two currencies to denominate their trade deal in, but they won’t have to default to the dollar, or some other universal standard, for actual settlement."
Source: CoinDesk
https://globeecho.com/business/crypto/the-real-use-case-for-cbdcs-dethroning-the-dollar/
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It is becoming increasingly clear that this Global Currency Reset is transforming our World into a whole new global society.
© Goldilocks
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Goldilocks' Comments and Global Economic News for July 8th
Good afternoon Dinar Recaps,
Tier-1 Banks are receiving an upgrade. This upgrade is compatible with Sepa and Swift payments.
It's purpose is to facilitate Cross-Border International Settlements efficiently.
This upgrade supports multiple currencies, and it enables seamless transactions in multiple units.
Multiple units refers to having a multi-currency account. This allows you to hold, receive, and spend multiple foreign currencies as you wish.
© Goldilocks
Good afternoon Dinar Recaps,
Tier-1 Banks are receiving an upgrade. This upgrade is compatible with Sepa and Swift payments.
It's purpose is to facilitate Cross-Border International Settlements efficiently.
This upgrade supports multiple currencies, and it enables seamless transactions in multiple units.
Multiple units refers to having a multi-currency account. This allows you to hold, receive, and spend multiple foreign currencies as you wish.
© Goldilocks
https://comtex.com/?p=436463578
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"SEC Adopts Rules to Prevent Fraud in Connection with Security-Based Swaps Transactions and Prevent Undue Influence over CCOs"
The adoption of this new rule allows people to exchange foreign currencies in the new digital system with a confidence your money will be secured.
The Final Rules become effective 60 days after the publication date of the adopting release in the Federal Register.
This puts us close to the end of August for this new Federal Regulation to take effect.
© Goldilocks
https://www.sec.gov/news/press-release/2023-104
https://www.sidley.com/en/insights/newsupdates/2023/06/sec-adopts-rules-to-prevent-fraud-in-security-based-swaps
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The US Dollar will be made available to trade under the new guidelines of SOFR rates in conjunction with the Commodities Exchange Act (30 days) after the CFTC approval on August 5th, 2023.
This puts us from August into early September for international trading to become available to us in our new International Payment System backed by gold.
© Goldilocks
https://www.cftc.gov/PressRoom/PressReleases/8745-23
https://www.cftc.gov/LawRegulation/CommodityExchangeAct/index.htm
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"Problems remain around T+1 implementation, Xceptor panellists say"
The pressure is on for technicians to move settlement times into same-day settlements or T+1.
Once this is accomplished, T+0 settlements will become possible.
T+0 settlements are instant settlement transactions between two parties.
© Goldilocks
https://www.assetservicingtimes.com/assetservicesnews/clearingandsettlementarticle.php?article_id=14567&navigationaction=clearingandsettlementnews&newssection=Clearing%20and%20Settlement
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A lot of work is going on behind the scenes in the banking system to make our new monetary system safe, fast, and efficient.
It truly is worth the wait. Our new monetary system will be far more advanced than anything we have ever seen, and the open banking concept will allow for upgrades to be made on an ongoing basis.
© Goldilocks
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Goldilocks' Comments and Global Economic News for July 7th, 2023
Good morning Dinar Recaps,
"Philippines writes off $1 billion in farmer debt to boost food production."
It looks like we have a Jubilee event going on in the Philippines.
Many debts going forward will be written off due to unlawful means of collection in the new monetary system as well as an inability to pay, but this action was an authentic effort to help the people.
You could say that these actions helped the country as well, but writing off a debt completely is an act of kindness that can never be repaid on either side making this a Jubilee event for both the government and the people.
© Goldilocks
Good morning Dinar Recaps,
"Philippines writes off $1 billion in farmer debt to boost food production."
It looks like we have a Jubilee event going on in the Philippines.
Many debts going forward will be written off due to unlawful means of collection in the new monetary system as well as an inability to pay, but this action was an authentic effort to help the people.
You could say that these actions helped the country as well, but writing off a debt completely is an act of kindness that can never be repaid on either side making this a Jubilee event for both the government and the people.
© Goldilocks
https://www.arabnews.com/node/2333816/world
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We are seeing "bridge assets" created. This gives a Digital Ledger transmission program on the blockchain the ability to perform exchanges of information from one digital platform to another or one computer to another.
In the new digital banking system, can you see how this is important in foreign currency exchanges?
Upon the completion of global assets being interfaced together on computer programs, the activation of Protocol 20 becomes possible.
In Protocol 20, quantum computer systems talk to one another seamlessly.
At this time, market and banking assets are still being tokenized and recorded onto the Digital Ledger Transmission System of the QFS.
New Monetary Policies that reflect the use of this new International Payment System will give us a path forward.
© Goldilocks
Hacken LINK
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BRICS Announcement July 7th 2023, on their one common currency for trade:
"The New Development Bank (NDB), established by the BRICS group of emerging markets, currently has no immediate plans to introduce a common currency among its member countries, according to Leslie Maasdorp, Vice President and Chief Financial Officer of the bank. While BRICS nations like Brazil, Russia, India, China, and South Africa aim to increase trade in local currencies, they are not prepared to challenge the global dominance of the US dollar. Maasdorp emphasised that the development of an alternative currency is a long-term goal rather than an immediate priority."
Do you see why the ability to organize the formation of a new monetary system requires a plan or monetary policies to guide the processing of such an event.
In case you are wondering, this gives individual countries the ability to strengthen, in the short term, their currencies' value through Basel 3 compliance requirements.
In Basel 3, commodity based support/capital for a countries' banking system will increase the net worth of national currencies.
Then, they can challenge the dollar as a Global Nation.
In the meantime, my understanding from OPEC is that a proposal is on the table to redenominate oil distribution in local currencies.
This will not bode well for the dollar in the short term as it will begin the process of leveling off currencies giving them real values.
© Goldilocks
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Treasury Releases Guidance on the Transition from Interbank Offer Rates to Other Reference Rates with Respect to the Interest Rates of a Foreign Bank | Foley & Lardner LLP
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Four benefits of paying in local currencies
Business Banking Tips LINK
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Happy 4th of July
Happy 4th of July
The Dinar Recaps Team wishes everyone a happy and safe 4th of July.
Due to the holiday, we will NOT have a 10pm (ET) email Newsletter Monday night.
Please check our BLOG page for any new postings throughout the day and evening.
Happy 4th of July
The Dinar Recaps Team wishes everyone a happy and safe 4th of July.
Due to the holiday, we will NOT have a 10pm (ET) email Newsletter Tuesday night.
Please check our BLOG page for any new postings throughout the day and evening.
Goldilocks' Comments and Global Economic News for July 4th
Good morning Dinar Recaps,
Indonesia is beginning to show some signs of Independence.
During their Article 4 consultation with the IMF, Indonesia was urged to lift their export ban on Ore. They rejected this suggestion.
Ore is a mineral that can be mined and sold as a metal commodity.
This move has given them the ability to expand the net worth of their country through this commodity increasing purchasing power on their currency.
Happy 4th of July Indonesia!
© Goldilocks
Good morning Dinar Recaps,
Indonesia is beginning to show some signs of Independence.
During their Article 4 consultation with the IMF, Indonesia was urged to lift their export ban on Ore. They rejected this suggestion.
Ore is a mineral that can be mined and sold as a metal commodity.
This move has given them the ability to expand the net worth of their country through this commodity increasing purchasing power on their currency.
Happy 4th of July Indonesia!
© Goldilocks
https://jakartaglobe.id/news/independence-first-indonesia-rejects-imfs-call-to-lift-ore-export-ban
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"Digital Asset Market Structure Bill Seeks to Fill US Regulatory Gaps"
The Stablecoin Regulation Bill is completed. Congress decided to expand on the gaps previously found in the existing structural framework of current digital assets.
The SEC and CFTC were given specific regulation lines of authority on particular aspects of these assets depending on what category they fell into in requiring guidance.
A vote is expected to complete this process in the early part of July.
© Goldilocks
https://www.fintechanddigitalassets.com/2023/06/digital-asset-market-structure-bill-seeks-to-fill-us-regulatory-gaps/
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Building a Strong, Capable Iraq Will Shape Its Foreign Policy
...the focus of Iraq’s diplomacy is shifting to economic cooperation...
https://search4dinar.wordpress.com/2023/07/04/building-a-strong-capable-iraq-will-shape-its-foreign-policy/
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Foreign Minister and European delegation discuss digitization of Iraq’s banking system
Search4Dinar LINK
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Monday Afternoon Goldilocks post, sent to Dinar Recaps
Good afternoon Dinar Recaps,
Goldilocks posted comments and news links to help us understand where we stand with the global financial system:
JPMorgan Chase and 40 Other US Banks Conducting FedNow Trial Runs Ahead of the Instant Payment Service’s Launch - The Daily Hodl
https://dailyhodl.com/2023/07/01/jpmorgan-chase-and-40-other-us-banks-conducting-fednow-trial-runs-ahead-of-the-instant-payment-services-launch/
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I understand bank employees took their laptops home over the weekend and were given instructions to leave their computers on for updates on the new system taking place.
Yes, we start this week with new collateralized SOFR settings inside the banking system and the market.
Good afternoon Dinar Recaps,
Goldilocks posted comments and news links to help us understand where we stand with the global financial system:
JPMorgan Chase and 40 Other US Banks Conducting FedNow Trial Runs Ahead of the Instant Payment Service’s Launch - The Daily Hodl
https://dailyhodl.com/2023/07/01/jpmorgan-chase-and-40-other-us-banks-conducting-fednow-trial-runs-ahead-of-the-instant-payment-services-launch/
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I understand bank employees took their laptops home over the weekend and were given instructions to leave their computers on for updates on the new system taking place.
Yes, we start this week with new collateralized SOFR settings inside the banking system and the market.
For the last year and a half, we have been moving several economic mechanisms over to these new SOFR reference rates through legislative bills designed to compliment a digital asset-based exchange system.
New protocols have been created, approved, and put into place forming a new economy. At this point, the paperwork is done with exception of upgrades to the system going forward that will connect our Quantum Technologies around the world into one. This includes the all-important Stellar platform uniting payment systems of all forms to move through the Stellar Network.
These new mechanisms will begin to form new price actions on the market. There will be sectors of the market that will rise during this time while others who did not convert to these new SOFR settings will face challenges in this new economic reality.
We still need to see our currencies move into real values. Last week, some countries have reported that they are undervalued as much as 15% right now. Some are much greater than these numbers.
This is the phase of our economy whereby a Level Playing Field in the Banking System, the Markets, and the Private Sector move into real values.
Going forward, the dollar will be challenged. It's greatest challenge will be faced next month when the BRICS System introduces a new trading currency backed by many different countries and by gold.
Before we even get there, the dollar has many challenges it must go through before it meets face-to-face with its destiny. Continued de-dollarization and high debt will play a significant role in the transformation of the dollar.
In a high-debt society, the ability to liquidate a country becomes less and less. Our new SOFR settings will help, but it is clear that a reset in our global economies' currency rates will change the landscape of the Global Economic System.
© Goldilocks
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"The Treasury General Account is the U.S. government's operating account that is maintained by designated depositories, primarily Federal Reserve Banks."
The US National Debt has spiked by $851 billion in one month to reach a $32.3 Trillion Dollar deficit.
This new debt is coming in Q3 to refill the TGA. It will be used to pay for deficits, and debts cause lack of funding and adjustments will be made.
Going forward, monetary policies and economic shifts are expected.
© Goldilocks
https://wolfstreet.com/2023/07/02/us-national-debt-spiked-by-851-billion-in-one-month-to-32-3-trillion-flood-of-new-debt-in-q3-to-refill-the-tga-pay-for-raging-deficits/
https://tfx.treasury.gov/taxonomy/term/10867#:~:text=The%20Treasury%20General%20Account%20is,handle%20daily%20public%20money%20transactions.
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"The potential launch of a new currency by BRICS (Brazil, Russia, India, China, South Africa) could destabilize the U.S. dollar's dominance and threaten several U.S. financial sectors.
This seismic shift could cause a domino effect across various U.S. industries including banking, finance, commodities, and international trade.
The U.S. economy might suffer further if the BRICS currency becomes the standard for settling oil and gas trades."
Do you see why we have not seen a price placed on the oil sector of the market on the debt clock?
A change of this magnitude has the tendency to shift silver and gold prices to real values as well. These economic changes will enable us to put real prices on gold, oil, and silver.
© Goldilocks
https://www.cryptopolitan.com/brics-currency-threatens-financial-sectors/
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BREAKING NEWS
RUSSIAN EMBASSY IN KENYA SAYS THAT THE NEW BRICS TRADING CURRENCY IS BACKED BY GOLD
Good morning everyone.
Read: https://twitter.com/GoldTelegraph_/status/1675869972440948736
Goldilocks added, UH OH...
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Goldilocks Sunday Afternoon Post - 7/02/2023
Good morning Dinar Recaps,
Goldilocks posted comments and links to global financial news:
China is the country with the largest population on Earth.
It is also the fastest growing aging population.
The Chinese digital Yuan settlement mechanisms are currently being placed on to their social security payment functions.
This will not only save them a lot of money, but it is going to enhance the spread of the Yuan even further.
This adoption of digital currency will no doubt increase the acceptance of digital money around the world. It will serve as an opportunity for other countries to do the same with their own digital money.
Good morning Dinar Recaps,
Goldilocks posted comments and links to global financial news:
China is the country with the largest population on Earth.
It is also the fastest growing aging population.
The Chinese digital Yuan settlement mechanisms are currently being placed on to their social security payment functions.
This will not only save them a lot of money, but it is going to enhance the spread of the Yuan even further.
This adoption of digital currency will no doubt increase the acceptance of digital money around the world. It will serve as an opportunity for other countries to do the same with their own digital money.
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SEC SOURCES CONFIRM GARY GENSLER RESIGNATION
https://www.thecryptoalert.com/post/sec-sources-confirm-gary-gensler-resignation
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We have moved from not being able to revalue in the old financial system to being able to revalue in the new one.
Let's follow the steps that will take us there. Old terminology no longer applies.
We live in a digital world going forward inside the markets and banking system.
© Goldilocks
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The Stellar Network has been out shining Ripple as of late. The continued struggle of Ripple with the SEC has made the growth of Ripple difficult, but it will not always be this way.
In the meantime, people are turning to Stellar Lumens for growth potential especially with the Protocol 20 Upgrade coming into play.
This upgrade will affect the fee structure of transactions and make this system more efficient. One of Stellar's goals is to lead in the area of financial inclusion and smart contract development across all sectors of the market.
Upon its completion, we will have a fully tokenized monetary system instead of just parts of the system being integrated into the markets individually.
This upgrade is so important to the overall enhancement of the new digital markets that one cannot overlook the impact it will have on every sector of the market. This includes the foreign currency exchange markets.
© Goldilocks
https://u.today/stellar-xlm-outshines-xrp-here-is-likely-reason
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The future monetary system is already here | Kuensel Online
https://kuenselonline.com/the-future-monetary-system-is-already-here/
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De-dollarization Trend Accelerates as Argentina Makes IMF Payment Using Yuan
https://sputnikglobe.com/20230701/dedollarization-accelerates-as-argentina-makes-imf-payment-using-yuan-1111605999.html
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Friday Afternoon Clarification from RJ
Good afternoon Dinar Recaps,
Some members brought this comment to our attention.
"MARKZ and SALTY TOES have worked hard to build a COMMUNITY that people can trust. You can connect with MarkZ at The Seeds of Wisdom Team Community and website. Just visit the Seeds of Wisdom Team Website, join the Seeds of Wisdom Telegram Community, and Subscribe to receive email updates. https://seedsofwisdomteam.com/ "
It was posted near rhe end of…
"Coffee With MarkZ" Tuesday Morning Chat 6-27-2023
Good afternoon Dinar Recaps,
Some members brought this comment to our attention.
"MARKZ and SALTY TOES have worked hard to build a COMMUNITY that people can trust. You can connect with MarkZ at The Seeds of Wisdom Team Community and website. Just visit the Seeds of Wisdom Team Website, join the Seeds of Wisdom Telegram Community, and Subscribe to receive email updates. https://seedsofwisdomteam.com/ "
It was posted near rhe end of…
"Coffee With MarkZ" Tuesday Morning Chat 6-27-2023
https://dinarrecaps.com/our-blog/qamuzjrf4k68gplduoluwb3md61qhr
MarkZ and Salty are still friends but she no longer promotes MarkZ and he no longer promotes the Seeds of Wisdom Team. His information is no longer on the Seeds of Wisdom Team Website or in our Telegram rooms. It is true that they worked hard to build a community but they are no longer affiliated with each other.
Please refrain from posting anything that states that MarkZ and Salty Toes are working together or that MarkZ's info can be found on the SOWT website. That is history at this time even though they remain friends.
Thank you so much for understanding and for all you do for the whole Dinar community.
Sincerely,
RJ
Friday Morning Goldilock post
Good morning Dinar Recaps
Goldilocks posted some comments and links on global financial news:
“Vietnam’s economic growth is projected to recover in the second half of 2023, reaching around 4.7 percent for the year, supported by a rebound in exports and expansionary domestic policies. Inflation is expected to remain contained below the SBV’s 4.5 percent ceiling. Over the medium term, Vietnam can return to high growth rates as structural reforms are implemented."
This is part of a report the IMF gave on Vietnam at the end of their Article 4 evaluation. It was recommended that Vietnam take the lead now and guide their country through fiscal policy.
Fiscal policy is the use of government revenue collection and expenditure to influence a country's economy.
Good morning Dinar Recaps,
Goldilocks posted some comments and links on global financial news:
“Vietnam’s economic growth is projected to recover in the second half of 2023, reaching around 4.7 percent for the year, supported by a rebound in exports and expansionary domestic policies. Inflation is expected to remain contained below the SBV’s 4.5 percent ceiling. Over the medium term, Vietnam can return to high growth rates as structural reforms are implemented."
This is part of a report the IMF gave on Vietnam at the end of their Article 4 evaluation. It was recommended that Vietnam take the lead now and guide their country through fiscal policy.
Fiscal policy is the use of government revenue collection and expenditure to influence a country's economy.
Government revenue collection is the following: individual and corporate income tax deposits, customs duties, fees for government service, fines, and loan repayments.
Through the implementation of these reforms, Vietnam's government will be able to sustain their government and influence growth going forward.
For these reasons, Vietnam has been released of Article 4 from the IMF. "IMF Staff Completes 2023 Article IV Mission to Vietnam."
Along with Vietnam's adherence to SOFR lending rates and Basel 3 compliance, Vietnam has over 20 million tons of rare earth minerals valuing at 3 trillion dollars to put them well on their way to economic growth and the revaluation of all of their assets.
© Goldilocks
https://www.imf.org/en/News/Articles/2023/06/29/pr23247-vietnam-imf-staff-completes-2023-art-iv-mission
https://www.vietnam-briefing.com/news/rare-earth-mining-vietnam.html/#:~:text=Vietnam's%20rare%20earth%20reserves,for%20the%20nation's%20economic%20development.
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"Article IV outlines states’ powers in relation to each other. States have the authority to create and enforce their own laws but must respect and help enforce the laws of other states. Congress may pass Federal laws regarding how states honor other states’ laws and records."
The IMF reported that Indonesia has shown progression since 2022 through their forward-looking reforms to help sustain their economic challenges moving forward.
In other words, Indonesia has become a self-sustaining government capable of moving forward with their own monetary policies.
There are several minerals found and produced in Indonesia such as tin, bauxite, nickel, gold, and copper. Many of these minerals are used in creating electronic vehicles.
These minerals are found in such abundance that the backing of their economy places them on the road to Basel 3 compliance and implementation.
"IMF Executive Board Concludes 2023 Article IV Consultation with Indonesia"
© Goldilocks
https://www.imf.org/en/News/Articles/2023/06/22/pr23229-indonesia-imf-executive-board-concludes-2023-article-iv-consultation-with-indonesia
http://www.imf.org/external/np/sec/misc/qualifiers.htm
https://www.statista.com/topics/4690/natural-resources-in-indonesia/#topicOverview
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The Commodities Futures Trading Commission (CFTC) issued a no-action letter for moving forward with the Libor reference rates shifting to SOFR lending rates on June 30th.
This no action letter means permission has been granted for today's transition into a new collateralized economy.
USD LIBOR ICE Swap Rates and Moscow Prime Offered Rates were given a nod to proceed.
After today and tomorrow, these new reference rates will begin transitioning our new economy from the old one. The process of moving into real values in our new digital economy has been given the green light.
© Goldilocks
https://www.cftc.gov/PressRoom/PressReleases/8737-23
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Just in case you are wondering. "IMF Staff Completes 2020 Article IV Mission with Iraq."
Since that time, Iraq had currency reforms to implement and a budget to complete.
They have been reviewed regularly due to ongoing issues with our global economy during Covid-19 to keep them updated with Article 4 conducted by the IMF.
Here is what was said to Iraq on May 31st, 2023 in their closing comments to them from the IMF. "...the mission urges full implementation of the framework for managing government guarantees,"
In other words, the government is capable of moving forward with guarantees backed by their financial reforms that comply with Basel 3 and QFS mechanisms.
© Goldilocks
https://www.imf.org/en/News/Articles/2020/12/13/pr20372-imf-staff-completes-2020-article-iv-mission-with-iraq
https://www.imf.org/en/Countries/IRQ
https://www.imf.org/en/News/Articles/2023/05/31/pr23188-iraq-imf-staff-concludes-staff-visit
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Iraq, Indonesia, and Vietnam have completed Article 4 with the IMF and are capable of moving forward with their currency reforms.
© Goldilocks
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We will see some movement in July with our currencies, but August will begin showing us huge changes in leveling off our currencies around the world.
© Goldilocks
Goldilocks post sent to Recaps Wednesday Afternoon
Good afternoon Dinar Recaps,
Goldilocks posted several statements:
Dee and I just heard from our CBI Banker contact that the articles as of late are true.
Iraq has been placed inside the Swift System and their Banks have been given the green light from the Trade Bank of Iraq to do foreign currency exchanges in their local banks.
No rate has been cleared for takeoff just yet.
© Goldilocks
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Good afternoon Dinar Recaps,
Goldilocks posted several statements:
Dee and I just heard from our CBI Banker contact that the articles as of late are true.
Iraq has been placed inside the Swift System and their Banks have been given the green light from the Trade Bank of Iraq to do foreign currency exchanges in their local banks.
No rate has been cleared for takeoff just yet.
© Goldilocks
~~~~~~~~~~
Based on information I am still receiving daily from the banking system and CBI contact, I do not expect anything to happen this week.
We are close.
And I just wanted to let you know it's hard to reset an economy that doesn't have real values on the markets or repriced settings on our commodity sector of the markets.
Repriced settings on the commodity sector of the market will enable us to move forward with new currency values here and abroad.
All roads lead to Gold my friends.
© Goldilocks
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https://www.seedsofwisdomteam.com/
Thank you Dinar Recaps
