Goldilocks' Comments and Global Economic News Sunday Evening 11-12-23
Goldilocks' Comments and Global Economic News Sunday Evening 11-12-23
Good evening Dinar Recaps,
The American Financial System: US
1. Delinquent commercial real estate loans at US banks have hit their highest level in a decade.
2. US bank stocks have collapsed to all-time lows when measured against the S&P 500 index.
3. Jamie Dimon and his family will sell $141 million of JPMorgan stock in 2024.
4. US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings.
Goldilocks' Comments and Global Economic News Sunday Evening 11-12-23
Good evening Dinar Recaps,
The American Financial System: US
1. Delinquent commercial real estate loans at US banks have hit their highest level in a decade.
2. US bank stocks have collapsed to all-time lows when measured against the S&P 500 index.
3. Jamie Dimon and his family will sell $141 million of JPMorgan stock in 2024.
4. US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings.
5. The 60+ days delinquency rate of the subprime-backed ABS that Fitch tracks rose to 6.1% in September... this represents a RECORD.
These are the facts.
And sometimes the facts are served cold.
Read: https://x.com/goldtelegraph_/status/1723449486381605230?s=46
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This has been a great year for fans of gold-based money. As part of their migration away from the fiat dollar-based international financial system, Russia has reportedly introduced widespread “gold-based checking accounts” at major commercial banks — a simple and effective form of “digital gold” — while the government of India has begun issuing gold-based government bonds.
International megabank HSBCHBA 0.00% just said that it is launching a “tokenized gold” platform, making gold-based transactions possible among HSBC’s many clients worldwide. Of course there is no evidence that the Federal Reserve is going to jump on this bandwagon anytime soon.
However, at the State level, many US States — actually, most of them — are tiptoeing toward creating an alternative gold-based currency platform.
https://www.forbes.com/sites/nathanlewis/2023/11/07/us-states-leading-the-move-to-a-golden-dollar/
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On January 20, 2024, the Global Gold Monetary Fund will launch its gold-backed currency in the Philippines. (See link below) They have invited other countries to do the same.
Many countries have already started this process including the United States on the state level. It is a movement that is growing and rapidly becoming an alternative to the current monetary system.
At this time, the Philippines are expected to be done with their revisions and legislation process by the end of the year.
The Philippines have created what is called a Sovereign Wealth Fund capable of being backed by precious metals, and they are expected to be fully operational by the end of this year.
© Goldilocks
ChannelNewsAsia Link
ManiliaTimes Link
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Ethereum Insider Ready For Battle: ETH Founders’ Fraud Proof Coming In 4-5 Days
https://bitcoinist.com/ethereum-insider-eth-founders-fraud/
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Exporters to be able to exchange currencies through foreign brokers
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Abu Dhabi Finance Week (ADFW) 2023, set to run from 27 to 30 November, will host an impressive assembly of financial leaders, boasting a collective $27trillion in assets under management.
The four-day event will encompass over 40 events and more than 180 sessions, drawing in over 10,000 attendees from 3,500 companies worldwide.
Among the notable participants are CEOs from trillion-dollar asset management firms including Franklin Templeton and State Street, investor Ray Dalio, leaders of sovereign wealth funds, and top executives from global financial institutions such as Goldman Sachs, Morgan Stanley, and BNY Mellon.
https://thefintechtimes.com/adfw-2023-finance-giants-convene-with-27trillion-in-assets/
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JPMorgan is giving institutional clients more control over payments via JPM Coin — marking the company’s latest blockchain-related milestone.
Its new programmable payments offering is a feature for blockchain-based accounts on the JPM Coin System, a permissioned payment rail and deposit account ledger letting clients transfer dollars within the system.
Programmability lets clients place rules for funding a bank account, for example — or set parameters for executing payments based on margin calls, asset delivery or meeting contract requirements.
“Blockchain technology is the ideal infrastructure to which programmable payments can be applied as it enables rules and bank accounts to be integrated in a native manner, enabling cases including dynamic direct debits and multi-party escrow accounts,” a spokesperson told Blockworks in an email.
JPMorgan’s Onyx Digital Assets network — launched in 2020 — enables the tokenization of traditional assets, such as US Treasurys and money-market products.
https://www.blockworks.co/news/jpmorgan-blockchain-payments
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Russia warns that the United States might soon run out of paper for printing dollars needed to service its debt.
The Central Bank of Russia is actively engaging in large-scale buy-and-sell operations in the foreign exchange market.
These operations involve selling tenders worth 0.8 billion Rubles ($8.7 million) and using resources from the National Wealth Fund.
https://www.cryptopolitan.com/russia-us-running-out-of-paper-for-dollar/
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We are entering a new era of value creation for banks.
The new digital economy is creating tokenized payments that will encroach upon the printing of paper money.
These adjustments in volume along with supplying new volumes for countries overseas printing their money in their own local currencies and digital tokens are creating shifts in the values of the banking system as we speak.
You could say that the whole Global Nation is in the midst of adjusting new settings or mechanisms to execute new volumes and new currency valuations.
Setting a price on each of these changes will be determined by the new values placed on our tokenized assets such as gold, silver, and other commodities as we shift from a stock-driven to a commodity-driven Market.
Look for the price of gold to begin moving to higher levels to engage these new prices and offer liquidity for them to be priced in real value.
© Goldilocks
TheBanker Link
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Exchange companies under categories ( A , B ) are kindly requested to contact the contact points below for the purpose of obtaining the main agency for your companies.
1. Western Union
Dina.mehanna@westernunion.com
2. Money Gram
Bahar D. Sahajwalla Tell: 202-3656763
Email: bsahajwalla@moneygram.com
3. Union pay
Haider Ali Raza Tell: 971 507 581469
Email: haideraza@unionpayinti.com
We hope that you will inform us of your procedures, what has been achieved, and our readiness to provide support in the advanced stages of submitting applications.
https://cbi.iq/news/view/2466
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Gold Vs. Silver: Which Is Better Right Now?
Gold Vs. Silver: Which Is Better Right Now?
Notes From the Field By Simon Black November 8, 2023
Almost two decades ago, I walked into a coin shop in Florida to buy my very first piece of silver. I was in my mid-20s at the time and just starting to teach myself about financial history, the national debt, and central banking. It was early in my education. But I had already determined that owning precious metals would be a good idea as a hedge against future uncertainty and rapidly increasing government debt. But I didn’t have much money at the time. So silver-- at just a few dollars per ounce-- was well within my budget.
Gold Vs. Silver: Which Is Better Right Now?
Notes From the Field By Simon Black November 8, 2023
Almost two decades ago, I walked into a coin shop in Florida to buy my very first piece of silver. I was in my mid-20s at the time and just starting to teach myself about financial history, the national debt, and central banking. It was early in my education. But I had already determined that owning precious metals would be a good idea as a hedge against future uncertainty and rapidly increasing government debt. But I didn’t have much money at the time. So silver-- at just a few dollars per ounce-- was well within my budget.
The clerk behind the counter probably noticed my military haircut and seized the opportunity to make a joke at my expense.
“Well, we’re mostly out…” he said, grinning, “but I can offer you a dime bag.”
I assumed this was a marijuana reference and explained to the guy that I had a top-secret security clearance and didn’t go in for that sort of thing.
But he laughed and explained that he was actually referring to a bag that was literally filled with dimes.
I still didn’t get it.
But the clerk was kind enough to teach me that, prior to 1965, dimes in the United States were minted with a silver content of 90% (with the other 10% being copper). He then pulled out a sandwich bag full of dimes, weighed it, and showed me how to calculate the silver content based on the bag’s weight.
A one-pound bag, for example, contains 200 pre-1965 dimes, each with about 2 grams of silver content. That’s a bit more than 13 troy ounces of silver per one-pound ‘dime bag’.
I held onto that bag for several years, until 2011 when silver prices went through the roof. And I ended up going back to the very same dealer to trade the dime bag for a little bit of gold.
(I’ll explain why I did that in a moment-- it had to do with the gold/silver ratio.)
Precious metals in general have been excellent investments over the past twenty years. But I believe there’s a strong case to be made that gold and silver prices could go much, much higher from here.
Gold’s rise will be fundamentally driven by rapidly deteriorating US government finances. And I’ve written about this extensively.
The US national debt is now $33.7 trillion; the debt is so large that the Treasury Department spent nearly $900 BILLION on interest payments in the last fiscal year (FY23), which ended about six weeks ago.
That number alone-- $900 billion in interest payments-- is astonishing.
But even more astonishing is that FY23’s interest bill was 22% MORE than the previous fiscal year, and 56% more than the interest bill from the year before that!
Think about that: a 56% increase in interest expense in just two years?
One reason, obviously, is out of control spending. I mean… these people always find an excuse to overspend by trillions of dollars. First it was COVID. Then it was inflation. Then it was Ukraine. Now the Treasury Secretary insists that America can “certainly” afford to fund two wars at the same time.
All of these expenditures result in insane increases to the national debt, which drives up annual interest expenses.
The second issue is the rapid increase in interest rates.
Two years ago the government could borrow (and refinance) at practically 0%. Today they have to pay around 5%.
Now, remember that almost the entire US public debt will have to be refinanced over the next few years.
So if rates remain at 5%, and the debt keeps rising, this means that the annual interest bill could reach $2 trillion over the next few years.
Don’t take my word for it. The Congressional Budget Office’s most recent forecast show that annual interest payments, plus mandatory entitlement spending (i.e. Social Security and Medicare) will consume over 100% of federal tax revenue… by 2031.
Then Social Security’s primary trust fund will run out of money two years later, in 2033.
The consequences of this mess mean that, most likely, the Federal Reserve will slash interest rates and start printing trillions of dollars again in order to bail out the government.
And this will most likely result in inflation… as well as a severe loss of confidence in the US dollar around the world.
The dollar has been THE dominant reserve currency since the end of World War II. But history tells us that reserve currencies CAN and DO change. This time is not different.
So it’s very likely that the dollar could lose its dominant reserve status... and be replaced by a universally accepted asset like gold.
Gold is already an informal reserve asset; it’s why central banks and sovereign governments around the world stockpile it by the metric ton. So it wouldn’t be much of a paradigm shift for gold to become THE formal reserve asset.
In this scenario, gold would likely skyrocket to $10,000 or more.
Then there’s silver… which also has upside potential for the same reasons as gold. Silver is a precious metal too and tends to perform well in an inflationary environment.
And should gold become a formal reserve asset, silver prices will likely soar as well.
But I explained on Monday that there are other forces to drive silver higher. Greta Thunberg and John Kerry are among them.
Climate fanatics who insist on transitioning to 100% clean energy like solar completely miss the fact that producing near infinite solar panels will require unfathomable quantities of key minerals… including silver.
Because silver is an essential ingredient in the production of solar panels, these climate fanatics are creating massive, artificial demand that could drive silver prices much, much higher.
And this takes me back to the gold/silver ratio.
There’s a strong case to be made that both gold and silver could achieve significantly higher prices in the future. And each metal has its merits-- it’s not really a competition.
But at the moment, silver is priced more attractively.
Traditionally, the price of gold relative to the price of silver has been about 50:1 to 60:1; but this gold/silver ratio often fluctuates. When I traded my silver for gold back in 2011, the ratio was less than 40… meaning that gold was cheap relative to silver.
In the early days of COVID back in March and April 2020, the ratio shot up to 120:1, meaning that silver was very cheap relative to gold.
(We also published an alert to our premium members back then about how to capitalize on silver’s cheapness and nearly double their money in a matter of months.)
Right now the gold/silver ratio is hovering just below 90. That’s fairly high… suggesting that silver is pretty cheap relative to gold.
So, while there are strong cases to buy either one, at the moment, silver has a more attractive entry price. It’s worth considering.
To your freedom, Simon Black, Founder Sovereign Man
Goldilocks' Comments and Global Economic News Wednesday Evening 11-8-23
Goldilocks' Comments and Global Economic News Wednesday Evening 11-8-23
Good Evening Dinar Recaps,
Dodd-Frank Update:
We have a lot of people utilizing digital apps these days that may not be covered under the FDIC protection mechanisms. There is an ongoing movement to educate people in this area of their money holdings. We have seen FTX and other cryptos fail this year without protections for their customers, and it is important to only invest what you can afford to lose in any of them.
As these systems become more integrated in the years to come, it is important to just simply be careful.
© Goldilocks
Goldilocks' Comments and Global Economic News Wednesday Evening 11-8-23
Good Evening Dinar Recaps,
Dodd-Frank Update:
We have a lot of people utilizing digital apps these days that may not be covered under the FDIC protection mechanisms. There is an ongoing movement to educate people in this area of their money holdings. We have seen FTX and other cryptos fail this year without protections for their customers, and it is important to only invest what you can afford to lose in any of them.
As these systems become more integrated in the years to come, it is important to just simply be careful.
© Goldilocks
Dodd-Frank update Link
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How to Migrate to ISO 20022 ACI Worldwide Link
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Ripple To Partner With Georgia’s Central Bank in the Eurasian Country’s CBDC Pilot The Daily Hodl Link
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Supply Chain Resiliency Can Be Boosted with Production Production and Digital Maturity
Material Handling and Logistics Link
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Defaults of high-yield corporate bonds are accelerating and could bring a $46 billion wave of distressed debt in 2024, Bank of America says BusinessInsider Link
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Metals Focus predicts a boost in precious metals demand due to advanced AI chips and electronic components.
Silver is expected to be most affected, being a key element in electronics and facing supply constraints with rising green energy needs.
Industrial demand for gold has dropped this year, but the overall tech sector uptake of precious metals is forecasted to rebound next year due to AI developments.
https://oilprice.com/Metals/Gold/AI-Surge-To-Fuel-Precious-Metals-Demand-In-2024.html
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PBoC in a Hurry to Buy Gold: Covertly Bought 593t of Gold YTD
https://www.gainesvillecoins.com/blog/pboc-in-hurry-to-buy-gold-covertly
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FCA and Bank of England publish proposals for regulating stablecoins Bank of England Link
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MORE RUNS ON BANKS... EXPECT PRICE ACTION DISTORTIONS TO WORSEN, FASTER.
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BRICS: Russia Dumps Currencies Worth $8.7 Million in Yuan & Ruble Set - BRICS continues to DUMP the dollar🔥
BRICS member Russia is aggressively buying and selling currencies in the foreign exchange markets. The Central Bank of Russia initiated large amounts of ‘buy’ and ‘sell’ of currencies in the domestic market on Tuesday. The regulator is exchanging currencies in the Moscow Exchange section and sold tenders worth 0.8 billion Rubles. The first settlement was initiated on November 2, 2023, continuing over Monday and Tuesday of this week.
It was reported on the 9th of October BRICS dumped a total of $123 billion in U.S. treasuries in 2023.
https://watcher.guru/news/brics-russia-dumps-currencies-worth-8-7-million-yuan-ruble
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CFPB Proposes New Federal Oversight of Big Tech Companies and Other Providers of Digital Wallets and Payment Apps
Consumer Financial Protection Bureau Link
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Blockchain Revolution: A Race for Banking's Survival
https://www.financemagnates.com/cryptocurrency/blockchain-revolution-a-race-for-bankings-survival/
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Keough School expert to play key role in COP28 climate talks on food systems
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Fedwire Will Get Boost From ISO 20022 and Data-Rich Messaging
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"Agencies Extend Comment Period on Proposed Rules to Strengthen Large Bank Capital Requirements"
The Office of The Comptroller of The Currency is informing us that they will begin the final phase of Basel 3 requirement implementations on January 16, 2024.
This is the point to which the banking system will have enough capital requirements to synchronize their support of the banks and markets going forward.
Unless they extend this date, Basel 3 requirements will be on center stage.
© Goldilocks
https://www.occ.gov/news-issuances/news-releases/2023/nr-ia-2023-116.html
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Hello tomorrow I have a very very important cc to see where are we , as soon as I finish I will post , blessing © Isaac
Isaac's room link https://t.me/joinchat/Tc5mohvokA3F-CnM
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The Bank of Russia will be creating a digital ruble payment system with the United Arab Emirates.
This is a major development. Here comes CBDCs. Read: https://x.com/goldtelegraph_/status/1722344359428075625?s=46
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Here’s An Obvious Reason To Own Silver
Here’s An Obvious Reason To Own Silver
Notes From the Field by Simon Black November 6, 2023
By the summer of 1812, Napoleon still thought of himself as nearly invincible. He had conquered nearly all of Europe with relative ease and brought the continent’s remaining rulers under his control. He had personally lost just a single battle. And his chief nemesis, Great Britain, had just been dragged into a new war with its former colony, the United States.
In short, things were really going his way. And the summer of 1812 would have been a great time for Napoleon to take a break, consolidate his gains, and focus on quelling internal rebellions and intrigue from within his vast, new empire.
Here’s An Obvious Reason To Own Silver
Notes From the Field by Simon Black November 6, 2023
By the summer of 1812, Napoleon still thought of himself as nearly invincible. He had conquered nearly all of Europe with relative ease and brought the continent’s remaining rulers under his control. He had personally lost just a single battle. And his chief nemesis, Great Britain, had just been dragged into a new war with its former colony, the United States.
In short, things were really going his way. And the summer of 1812 would have been a great time for Napoleon to take a break, consolidate his gains, and focus on quelling internal rebellions and intrigue from within his vast, new empire.
So naturally he decided to invade Russia instead… something that no one had successfully done since Genghis Khan.
Yet Napoleon was convinced he would once again cruise to an easy victory, writing to his Foreign Minister on June 27th, “I have an army to which no modern army can be compared. . . I am in good hopes.”
Now, Napoleon was obviously a brilliant military commander, so his optimism wasn’t unjustified. He had studied other failed invasions of Russia-- like Swedish King Charles XII’s futile attempt in 1708-- so Napoleon knew that keeping his army well-supplied would be essential for victory.
That’s why he spent months preparing for his invasion of Russia. His generals stocked up on food, ammunition, clothing, medicine, etc., and staged them at key resupply points in eastern Europe.
But despite such intense preparations, they simply weren’t sufficient. Even someone as experienced as Napoleon managed to vastly underestimate the logistics and resource challenges to be successful.
And the end result was that Napoleon’s armies ran out of food. In fact hundreds of thousands of his soldiers died, many from disease and starvation. Morale plummeted. Confidence was shattered. And Napoleon’s enemies seized on the opportunity to unite against him.
It was a total disaster… and a major reason for it was failing to grasp just how difficult it would be to find enough resources-- particularly food-- to keep the operation going.
Napoleon’s ill-fated invasion of Russia is just one example of this timeless lesson from history: leaders often come up with grandiose plans and bold ideas without the slightest understanding of the resource challenges.
And one modern incarnation of this folly is the fanatical green agenda that aims to completely replace fossil fuels with renewable energy.
For argument’s sake, let’s just pretend for a moment that this is a great idea and totally worth the $100+ trillion cost, i.e. let’s assume money is no object… which is basically what the greenies believe anyhow.
Money doesn’t solve the most basic challenge of the green fantasy: where will they get all the raw materials?
Solar panels and wind turbines require a lot of resources, including basics like iron, copper, and steel. They also need some really nasty minerals, like cobalt, which are typically extracted by child labor in Africa under appalling conditions.
Wind and solar also require a host of other obscure elements like indium, terbium, dysprosium, and praseodymium; and the quantities of these minerals that will be needed to achieve renewable energy goals are far, far greater than what’s possible.
For example, producing enough solar panels to have 100% renewable energy by 2050 will require production levels of indium that are over 10x greater than exist today.
Ramping up indium production by 10x is no small feat… especially when these same green fanatics simultaneously want to cancel the mining companies.
It’s ridiculous when you think about it. They want the world to be powered by solar panels. But they want to prevent the mining of the essential minerals needed to produce those solar panels. It’s progressive logic at its finest!
This is why I opened today’s article talking about Napoleon’s attempted invasion of Russia; he failed because he underestimated the vast quantities of raw materials that would be required to sustain his armies.
Similarly, today’s green fanatics will fail because they are underestimating the vast quantities of raw materials that will be required to achieve their dream.
But that doesn’t mean they won’t try. Fanatics never let ignorance get in the way of a bad idea.
And this is what leads me to silver.
Silver is an essential ingredient in the production of renewable energy technology; simply put, you can’t make the energy grid renewable (on wind and solar, at least) without massive quantities of silver.
Every MegaWatt of power produced by solar panels requires 1 kilogram of silver, or one metric ton per GigaWatt (GW). And those may be very conservative estimates.
My colleague Gregor Gregersen, founder of Silver Bullion in Singapore, told me over the weekend that a recent study estimated up to 21 metric tons of silver will be needed for every GW of power.
Either way, green energy requires substantially more silver than is being mined right now.
And remember that silver production is already in a deficit at the moment, i.e. industrial and investment demand for silver ALREADY exceeds annual mining output.
Yet on top of existing demand, these completely unrealistic renewable energy goals will easily increase silver demand by another 3-5x.
This is a pretty clear growth catalyst for future silver prices...
To your freedom, Simon Black, Founder Sovereign Man
$2,000 Gold Is Just The Beginning. Here’s What Might Happen Next-
$2,000 Gold Is Just The Beginning. Here’s What Might Happen Next-
Notes From the Field By Simon Black November 1, 2023
Public Law 93-373 was supposed to be so boring that Congress didn’t even bother to give it a name.
You know how most laws passed by Congress have some fancy name-- like the “Inflation Reduction Act” or the “USA PATRIOT Act” or some such nonsense?
Well, on November 7, 1973, US Senator James Fulbright introduced a very short bill-- it was only ONE page-- that didn’t even have a name. But Fulbright’s unnamed bill ended up being one of the most important pieces of legislation in US history.
$2,000 Gold Is Just The Beginning. Here’s What Might Happen Next-
Notes From the Field By Simon Black November 1, 2023
Public Law 93-373 was supposed to be so boring that Congress didn’t even bother to give it a name.
You know how most laws passed by Congress have some fancy name-- like the “Inflation Reduction Act” or the “USA PATRIOT Act” or some such nonsense?
Well, on November 7, 1973, US Senator James Fulbright introduced a very short bill-- it was only ONE page-- that didn’t even have a name. But Fulbright’s unnamed bill ended up being one of the most important pieces of legislation in US history.
By the time Fulbright introduced his bill, it had been two years since the legendary “Nixon Shock” of 1971. That was when US President Richard Nixon implemented wage and price controls, and canceled the US dollar’s convertibility into gold.
Nixon famously promised the American public that there wouldn’t be any negative consequences from his actions. Yet inflation hit 3% the following year, in 1972. Then 4.7% in 1973. Then 11.2% in 1974.
Simultaneously, gold prices around the world were surging… from $35/ounce before the Nixon Shock, to more than $170 in 1974.
But individual Americans weren’t allowed to benefit from those gains thanks to a forty year old executive order that had been signed in 1933 by then President Franklin Roosevelt.
Roosevelt’s Executive Order 6102 criminalized the private ownership of more than $100 worth of gold in the United States. Roosevelt also gave Americans just 25 days to turn over their gold to the Federal Reserve… or else face up to ten years in prison.
Naturally, plenty of Americans were outraged, and a number of lawsuits were filed claiming that Roosevelt’s order was unconstitutional.
Roosevelt was rightfully worried that the Supreme Court would overturn his order. And at a certain point he considered packing the court, i.e. appointing several sympathetic judges to the Supreme Court to ensure his victory. He also considered issuing another order which would make it illegal to sue the federal government.
Fortunately for Roosevelt, however, he didn’t have to implement any of those actions; the Supreme Court very narrowly ruled in his favor, and his Executive Order stood as law of the land for four decades… until Senator Fulbright’s no-name law was finally passed on August 14, 1974.
It went into effect the following year, and Americans were suddenly free once again to exchange their rapidly-depreciating US dollars for gold.
Unsurprisingly, gold prices started rising dramatically in the second half of the decade... from about $180 in 1975, to a whopping $850 in January 1980.
And the declining dollar was just one reason for gold’s popularity; remember, the United States suffered a deluge of troubles during the 1970s and early 1980s.
The world found out that the US President was a criminal during the Watergate scandal of 1974. Then there was the humiliating US withdrawal from Vietnam in 1975, complete with a helicopter evacuation of the American embassy in Saigon.
Iran seized 52 US citizens in 1979 and held them hostage for more than a year. Inflation raged, peaking at 13.6%. The economy stagnated and fell into recession. Troubles in the Middle East (including conflict with Israel) led to energy shortages and rising fuel prices.
Civil unrest and ‘mostly peaceful’ protests were a constant problem in the 70s and 80s. Meanwhile, criminals rampaged across American cities, and the murder rate soared. Major cities like New York, LA, and Chicago became synonymous with violent crime.
The world stopped making sense. And gold became a safe haven from that chaos.
There’s an old saying (originally a Danish proverb) suggesting that if history doesn’t repeat, it certainly rhymes. And I think it’s obvious that we’re facing many of the same challenges today.
There are major problems in the Middle East. Energy is becoming scarce (especially in Europe). The US military suffered a humiliating withdrawal from Afghanistan. Civil unrest and crime rates are totally unacceptable. Inflation continues to rage. And the President, a.k.a. “the Big Guy” appears suspicious A.F.
Just like in the 1970s, gold represents a safe haven from this chaos. And even though it’s hovering at a near-record around $2,000, I think that there is still a long way for gold to rise.
The US national debt is now $33.7 trillion; that’s up more than HALF A TRILLION just in the month of October.
The people in charge have absolutely zero fiscal restraint. Zero responsibility. Zero sense of how destructive their actions are. They spend money and go deeper into debt as if there will never be any consequences, ever, until the end of time. They’re disgustingly ignorant, and dangerous.
The truth is that there are serious consequences to all of this debt. And we don’t have to guess what they are.
The Congressional Budget Office is already projecting that, by 2031, the US government will spend 100% of its tax revenue just on mandatory entitlements (like Social Security) and interest on the debt.
This means that, after 2031, the funding for literally everything else in government-- from the US military to the light bill at the White House-- will have to be funded by more debt.
That’s only 7 years away.
Then, two years later in 2033, Social Security’s primary trust fund will run out of money; this will cost the government an additional $1 trillion in additional spending each year to keep the program running. Naturally they’ll have to borrow that money too.
Eventually the national debt will become so large that simply paying interest each year will consume more than 100% of tax revenue.
The Federal Reserve will most likely attempt to bail out government by creating trillions upon trillions of dollars. But just as we saw over the past few years, such actions will most likely result in much higher inflation.
Disgusted with their financial circumstance, voters across America will likely turn to Socialist politicians who blame all the problems on the evils of capitalism, rather than their own incompetence. And with a majority of leftists running the country, they’ll only make things worse.
I also anticipate more conflict in the world, thanks in large part to the continued decline of America’s stature and reputation for strength.
It’s also quite likely that the US dollar could lose its royal status as the world’s dominant reserve currency by the end of the decade.
I don’t necessarily believe that the dollar will simply vanish from global trade. But it won’t be “King” dollar anymore. Perhaps more like “Earl” or “Viscount” dollar, alongside other currencies and exchange mechanisms-- including gold.
In fact we could easily see central banks around the world ditching their US dollars and loading up on gold as part of a new, de-dollarized global financial system.
This could potentially trigger trillions of dollars worth of capital inflows into the gold market, causing a surge in gold prices.
And these are just some of the reasons why gold could still have a long, long way to rise from here.
Bear in mind that I’m not thinking about the gold price next month, or even next year. I think long-term, and my views on gold are based on trends that will likely continue to unfold over the next decade.
I’m not a ‘gold bug’. I don’t have a fanatical view about anything other than my own children. I’m not a gold speculator either.
But it’s obvious to me that in an upside down world where there are such obvious long-term threats to the US dollar, it makes sense to look for real stores of value.
And that’s why $2,000 gold could just be the beginning of a much bigger story.
To your freedom, Simon Black, Founder Sovereign Man
Goldilocks' Comments and Global Economic News Wednesday AM 11-1-23
Goldilocks' Comments and Global Economic News Wednesday AM 11-1-23
Good morning Dinar Recaps,
Gold imports from Russia to Hong Kong surged by 750% from January to September 2023, compared to the same period the previous year.
There is a global gold reshuffling right now.
It is very clear,
Gold is playing a central role in the financial strategy of China and Russia.
Goldilocks' Comments and Global Economic News Wednesday AM 11-1-23
Good morning Dinar Recaps,
Gold imports from Russia to Hong Kong surged by 750% from January to September 2023, compared to the same period the previous year.
There is a global gold reshuffling right now.
It is very clear,
Gold is playing a central role in the financial strategy of China and Russia.
Read: https://twitter.com/GoldTelegraph_/status/1719436115038601692
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Shafaq News/ The Kurdistan Regional Government decided, today, Tuesday, to start dealing in the Iraqi dinar at all border crossings and airports, starting from the beginning of next month.
Search 4 Dinar Link
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70% of Iraq’s imports come from BRICS countries
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Paysend Announces Agreement with Western Union to Bolster Global Money Transfer Services
The Western Union Co. announced customers will be able to send money via the company’s digital service directly to Visa and Mastercard cards through an integration with Paysend, a card-to-card payments platform.
Lightspeed Commerce Inc. launched several new features including artificial intelligence-assisted menu creation, better insights into popular items, staff performance tools, and the release of its Services Module, aimed at merchants with service components.
Yardi, a property management software maker, eliminated automated clearing house fees for clients and residents using Yardi for rent payments in the United States and Canada beginning in January. More than 15 million rental units are on the Yardi platform. It also will launch a rewards program in 2024.
Old Glory Bank said its customers can donate to Code of Vets, a military-veterans group, through the bank’s Old Glory Pay QR code at the Code of Vets Web site.
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The World Bank Eyes an Overhaul Amid the Climate Crisis
Carnegie Endowment for International Peace
Goldilocks pointed 👆 to this article.
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The U.S. Ambassador to Canada says that for a secure transition to clean energy, Canada and the United States must enhance their domestic mining and refining of critical minerals.
Countries are starting to rush for critical minerals.
Copper...
Many continue to sleep on this.
Read: https://x.com/goldtelegraph_/status/1719485591887245725?s=46
Goldilocks pointed 👆 to this article also.
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Protocol 20 Update:
"Soroban inches ever closer to launching on Mainnet, with the smart contracts platform now live on Testnet and the validator vote for the Protocol 20 upgrade approaching early 2024.
Soroban is built with security in mind. To further augment the platform and its cutting-edge formal verification capabilities, SDF and industry-leading security firm Certora have announced security support for Soroban.
The Anchor Platform, designed to simplify integration to the Stellar network, added a second 'standard' for on and off-ramping. This enhancement makes it easier for businesses to connect to the Stellar blockchain and offer their services through various digital wallets."
https://stellar.org/blog/foundation-news/stellar-development-foundation-q3-2023-in-review
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Consumer Confidence Index Dips as Inflation Fears Heighten
https://www.investopedia.com/consumer-confidence-index-dips-on-inflation-fears-8385026
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Economist's "News and Veiws" Tuesday 10-31-2023
We're Marching Towards Worst Case Scenario | Gregory Mannarino
Liberty and Finance: 10-30-2023
We're in the largest and most vicious bear market in debt we've ever seen," says market trader Gregory Mannarino. Governments continue to increase spending as now multiple wars have broken out.
"We're marching towards a worst case scenario," he says.
"Cash is going to look for places to go." He expects commodities, especially precious metals, to go much, much higher.
We're Marching Towards Worst Case Scenario | Gregory Mannarino
Liberty and Finance: 10-30-2023
We're in the largest and most vicious bear market in debt we've ever seen," says market trader Gregory Mannarino. Governments continue to increase spending as now multiple wars have broken out.
"We're marching towards a worst case scenario," he says.
"Cash is going to look for places to go." He expects commodities, especially precious metals, to go much, much higher.
INTERVIEW TIMELINE:
0:00 Intro
2:30 Debt market
9:12 Banking system
13:53 Stock accounts
18:10 Oil prices
An Unprecedented Credit Crisis Is About to Undercut America's Quality of Life
Atlantis Report: 10-30-2023
Americans are gradually sinking into a deep financial hole and it keeps getting worse by the day. Hardships facing low-income earners, students, and even the middle class have never been this bad. The numbers give us an insight into how dire the situation is, yet they don’t paint the full picture.
A $1 Trillion credit card debt sounds alarming but not alarming enough except you look beyond the figure to millions of Americans in debt and hundreds of thousands using credit cards to pay for groceries and basic amenities like light and water.
Inflation is taking its toll on everyday essentials, from food to energy, making it difficult for families to make ends meet.
Andy Schectman: Gold vs Silver - What's The Better Option
Arcadia Economics: 10-31-2023
As the US (and foreign) deficits and debt-loads continue to surge to levels that were once unimaginable, the recognition of the value of precious metals as an asset class is increasing at an accelerating rate.
Although when people finally accept the argument that gold and silver are important assets to be considering, especially at this particular time, one of the first questions that often comes up is which metal to invest in.
In this type of environment, should people be buying gold, or should they be putting their money into silver?
It's an important question to consider, and in this week's physical silver report, Andy Schectman talks about the difference between the two choices, and lays out the case for each.
Perhaps like anything, the correct answer is a mix of both. Yet Andy provides the key factors to consider when deciding between the 2 precious metals, while also explaining why the answer may differ depending on what situation each individual person is in.
So to find out more about the latest dynamics affecting the physical gold and silver markets, click to watch this video now!
Goldilocks' Comments and Global Economic News Tuesday Evening 10-17-23
Goldilocks' Comments and Global Economic News Tuesday Evening 10-17-23
Good evening Dinar Recaps,
"While broader FX options have seen their prices rise to reflect the risk of the Middle East conflict escalating, there has been a particular focus on the two-month expiry date, which includes key central bank policy announcements in December."
Forex options traders are eyeing December 14th as the next trade opportunity. This is when their options trades are coming due.
Options trading allows you to buy a currency at a present rate with the option to redeem it later in the event a currency holding rises.
Goldilocks' Comments and Global Economic News Tuesday Evening 10-17-23
Good evening Dinar Recaps,
"While broader FX options have seen their prices rise to reflect the risk of the Middle East conflict escalating, there has been a particular focus on the two-month expiry date, which includes key central bank policy announcements in December."
Forex options traders are eyeing December 14th as the next trade opportunity. This is when their options trades are coming due.
Options trading allows you to buy a currency at a present rate with the option to redeem it later in the event a currency holding rises.
The war in the Middle East is beginning to create price distortions and volatile prices due to fluctuations in economic conditions.
Protection tools are already being talked about in case the currency does devalue. If prices go to a higher value and stays, options traders will be redeeming their currency for a profit.
If new circumstances such as the rebuilding of an economy create the need for a rise in the values of currencies because of this war, a repricing event for currencies will commence.
© Goldilocks
NASDAQ Link
https://tmsnrt.rs/498k23l
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Countries involved in the Middle Eastern conflict at the present time either directly or indirectly will be affected.
Trade relationships still continue during a war. When a country changes its exchange rate due to a war, it will affect the trade relationships of the imports and exports shared between countries.
Remember, 80% of exchange rates happen on the water through shipping port contracts and the new digital payment systems influencing these rates.
Watch the water.
© Goldilocks
https://www.hapag-lloyd.com/en/home.html
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SINGAPORE, Oct 17 (Reuters) - The U.S. dollar swayed in a tight range on Tuesday as traders took stock of developments in the Middle East and braced for a slew of speeches by central bank officials this week headlined by Fed Chair Powell to gauge the monetary policy outlook.
The yen was pinned close to the key 150 per dollar level, keeping investors on edge for any signs of intervention by the Japanese authorities.
https://finance.yahoo.com/news/forex-dollar-drifts-investors-eye-060531178.html
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Monetary Policy and Central Banking
https://www.imf.org/en/About/Factsheets/Sheets/2023/monetary-policy-and-central-banking
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Foreign Exchange Options - What are FX Options?
https://www.tradefinanceglobal.com/currency/foreign-exchange-options/
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Singapore, Shanghai asset management associations ink landmark MOU for cross-border cooperation
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Jurisdictional Boundaries Between CFTC Swaps and SEC Security-Based Swaps Clarified
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In a bid to reduce reliance on the US dollar and minimize external influences, Russian President Vladimir Putin has called on members of the Commonwealth of Independent States (CIS) to enhance the use of their national currencies in trade. The move is seen as part of a broader trend among developing countries to seek alternatives to the dominant US dollar in international trade.
BNN Network Link
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End of Free Money Plunges German Construction Industry into Crisis
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Lyn Alden: The Economy Is Trapped In A Vicious Cycle Of More Debt & Bigger Deficits
https://youtu.be/LY5XBWvgyD8?feature=shared
👆 @ Goldilocks
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The S&P 500 is in a historic bubble and could crash by 63%, markets guru John Hussman
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Taiwanese bank ends US bank deal, citing market conditions
👆 @ Goldilocks
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ALERT! Silver Price Readies for Moonshot as BofA's Unrealized Losses EXPLODE HIGHER!!
https://youtu.be/qY9wje7ZwsI?feature=shared
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JUST IN: 🇺🇸 President Biden to ask Congress for $100 billion in funding for Ukraine and Israel, Bloomberg reports.
@WatcherGuru
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Govt to revisit using gold dinar as reserve currency - PM
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Zimbabwe has been given the green light from the Financial Sector Stability Review (FSSR) of the IMF to implement Basel 2&3 Capital requirements inside their banking system.
© Goldilocks
IMF Link
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Why Gold's Price is About to Explode! 🔥
https://youtube.com/shorts/YzJDYXDNoPo?feature=shared
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Goldilocks' Comments and Global Economic News Saturday Evening 10-14-23
Goldilocks' Comments and Global Economic News Saturday Evening 10-14-23
Good evening Dinar Recaps,
Currently, the entire Global Economy is going into a recession, and the shift in our economy will bring forth new values in assets held down for a very long time.
Gold does very well in a recession. It will serve as the bridge between this economy and the next.
As we get closer to the end of Protocol 20 testing, our new tokenized assets backed by the Commodity Market will begin to bring forth new values in the marketplace. Some will call this a market crash in some sectors as others do well. In essence, our new tokenized assets will just simply be going to a real value.
Goldilocks' Comments and Global Economic News Saturday Evening 10-14-23
Good evening Dinar Recaps,
Currently, the entire Global Economy is going into a recession, and the shift in our economy will bring forth new values in assets held down for a very long time.
Gold does very well in a recession. It will serve as the bridge between this economy and the next.
As we get closer to the end of Protocol 20 testing, our new tokenized assets backed by the Commodity Market will begin to bring forth new values in the marketplace. Some will call this a market crash in some sectors as others do well. In essence, our new tokenized assets will just simply be going to a real value.
When the dust settles, price correlations will begin to form in the currency markets that include gold and silver as money. This is when currency interventions take place.
Remember, we talked about this a week to a week and a half ago. The dollar is going to shift into more Capital requirements for the dollar in gold.
This could shift price correlations between the dollar and gold between now and November the 1st when these new requirements are implemented.
Many countries around the world are doing the same thing, and the Forex Market that is currently showing distortions in current prices will begin to level the playing field over time.
© Goldilocks
Lyn Alden Newsletter Link
World Bank Link
Bloomberg Link
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URGENT: Jim Rickards Predicts MAYHEM In 24 Days
https://youtu.be/B1ELaaGQnUg?feature=shared
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JUST IN: Ferrari begins accepting crypto payments for its cars.
@WatcherGuru
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"The G20 nations collectively accept the regulatory roadmap as proposed by the IMF-FSB paper for crypto oversight.
The review of the proposed measures implementation status is expected by the end of 2025."
The above quote basically means that we can start our crypto implementation when the testing period of Protocol 20 is done and voted on. It is a Global Banking announcement that G20, Financial Stability Board, and the IMF will be helping us move forward through their guidance.
We will be inside an evaluation period between now and 2025, but we have been given the green light to move forward with our new economy inside a digital asset-based trading system.
The G20 meets regularly to form policies on global trade, health, climate, and other issues. They are the World's wealthiest group of countries that come together in regulating our Global Economy.
As we wind down the testing period of Protocol 20 this month, look for the banks and markets to coordinate new prices in every sector of the market.
© Goldilocks
Benzinga Link
CFR Link
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SEC Adopts Rule to Increase Transparency in the Securities Lending Market
https://www.sec.gov/news/press-release/2023-220
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IMF says 'weak tail' of banks could struggle in an economic downturn
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How interest rates are sinking U.S. banks’ ambitions – Cryptopolitan
https://www.cryptopolitan.com/interest-rates-sinking-us-banks-ambitions/
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JPMorgan Tokenized Collateral Network Launches With BlackRock-Barclays Trade Unchained Crypto Link
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IMF teaches Central Banks on managing inflation expectations
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Shanghai gold prices spike after holiday week, supporting global rally
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Transcript of IMF Managing Director's Press Briefing on the Global Policy Agenda
IMF Link
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Treasury bond auctions have been ugly lately, and weak demand could be a 'canary in the coal mine'
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I have been told to be on high alert next week. It could be anything, so I ask that you not take this as calling an RV.
© Goldilocks
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Global Central Banks Are Hoarding Gold Like Never Before
Global Central Banks Are Hoarding Gold Like Never Before
Anil Varma Tue, October 10, 2023
Global Central Banks Are Hoarding Gold Like Never Before As They Seek To Reduce 'Overconcentration' Of Dollar Reserves
Global central banks have been buying record amounts of gold as they seek to diversify reserves away from the dollar. "We expect central banks to continue their role as net purchasers of gold," according to the head of gold strategy at State Street. The trend appears to be part of the broader de-dollarization drive, led by countries including China and Russia.
Global central banks have been snapping up record amounts of gold since the start of 2022 - a trend that should continue as countries look to move away from an "overconcentration" of reserves in the dollar, according to State Street Global Advisors.
Global Central Banks Are Hoarding Gold Like Never Before
Anil Varma Tue, October 10, 2023
Global Central Banks Are Hoarding Gold Like Never Before As They Seek To Reduce 'Overconcentration' Of Dollar Reserves Global central banks have been buying record amounts of gold as they seek to diversify reserves away from the dollar. "We expect central banks to continue their role as net purchasers of gold," according to the head of gold strategy at State Street. The trend appears to be part of the broader de-dollarization drive, led by countries including China and Russia.
Global central banks have been snapping up record amounts of gold since the start of 2022 - a trend that should continue as countries look to move away from an "overconcentration" of reserves in the dollar, according to State Street Global Advisors.
Monetary authorities across nations made net purchases of 387 metric tons of the yellow metal in the first half of 2023, after buying an unprecedented 1,083 tons the whole of last year, the world's fourth-largest asset manager said in a recent note.
In addition to reserve diversification, the trend is also driven by central banks' desire to strengthen balance sheets and increase liquidity without adding credit risk, according to the firm.
"The reasons driving central bank gold purchases — to diversify their reserves, improve their balance sheets, and gain liquidity from an asset without credit risk — likely won't change given today's increasing economic and geopolitical risks," Maxwell Gold, head of gold strategy at State Street, wrote in the note.
"Therefore, as we look ahead, we expect central banks to continue their role as net purchasers of gold," he added.
De-dollarization
The trend appears to be part of a broader international movement - known as de-dollarization - to reduce reliance on the dollar in trade and investment, after the US leveraged the greenback's supremacy to impose economic sanctions on some countries. China and Russia have led the anti-dollar drive, which also saw the BRICS group of nations weigh the prospect of a shared currency.
"In recent years, the Society for Worldwide Interbank Financial Telecommunications (SWIFT) payments system has been used to impose sanctions, both on Iran in 2015 and on Russia in 2022 — a tactic some have described as "weaponization,"" Gold wrote.
"If a government perceives international sanctions as a real threat, then switching from US dollar assets to an anonymous counter like gold becomes extremely attractive, particularly in scenarios of multi-lateral sanctions by several reserve currency nations," he added.
Read the original article on Business Insider
Economist's "News and Veiws" Saturday 10-7-2023
This Is How The Dollar Explodes | Rafi Farber
Liberty and Finance: 10-7-2023
The reverse repo facility has propped up the system as the currency supply has fallen into deflation.
But once the facility runs dry, the system will come down, says Rafi Farber of The End Game Investor.
"There will be a scramble for Dollars," he says, that will lead to a downward spiral of asset prices.
The Fed will try one last time to save the system by inflating the currency supply. But this attempt will simply end in a Dollar collapse, he says.
This Is How The Dollar Explodes | Rafi Farber
Liberty and Finance: 10-7-2023
The reverse repo facility has propped up the system as the currency supply has fallen into deflation.
But once the facility runs dry, the system will come down, says Rafi Farber of The End Game Investor.
"There will be a scramble for Dollars," he says, that will lead to a downward spiral of asset prices.
The Fed will try one last time to save the system by inflating the currency supply. But this attempt will simply end in a Dollar collapse, he says.
INTERVIEW TIMELINE:
0:00 Intro
3:10 Japan's bond market
8:50 Bond auctions
11:46 The end of empire
16:30 Reverse Repo
24:30 C40 group
28:08 The End Game Investor
Homes UNAFFORDABLE In 99% Of The U.S: Housing Affordability Is Now The Worst Since 1984
Lena Petrova: 10-7-2023
SILVER ALERT! Freeing Silver From 170 Years of Price Suppression..NOW!!
(Andy Schectman & Bix Weir) 10-7-2023
Here's a great discussion I had with Andy Schectman posted on the Private Road a few days ago. I think this information is so important that I have posted it on Youtube for everyone. NOW is the time to have as much Silver in your own possession as possible!