Goldilocks' Comments and Global Economic News Tuesday Evening 12-19-23
Goldilocks' Comments and Global Economic News Tuesday Evening 12-19-23
Good Evening Dinar Recaps,
SHANGHAI, Dec 14 (Reuters) - "The stock exchange in China's city of Shenzhen and the Abu Dhabi securities exchange agreed to promote cross-border investment and listings in the latest flurry of co-operation between institutions in countries looking to cut reliance on the West."
Depository Trust & Clearing Corporation has a new listing. Ark 21 Shares Spot Bitcoin ETF is now listed on the DTCC. It's going through the system. Now, we have the Middle East, Asian, and US economies on their way to trading commodities on their markets.
Goldilocks' Comments and Global Economic News Tuesday Evening 12-19-23
Good Evening Dinar Recaps,
SHANGHAI, Dec 14 (Reuters) - "The stock exchange in China's city of Shenzhen and the Abu Dhabi securities exchange agreed to promote cross-border investment and listings in the latest flurry of co-operation between institutions in countries looking to cut reliance on the West."
Depository Trust & Clearing Corporation has a new listing. Ark 21 Shares Spot Bitcoin ETF is now listed on the DTCC. It's going through the system. Now, we have the Middle East, Asian, and US economies on their way to trading commodities on their markets.
We are about to see gold and silver begin to move into their real values.
© Goldilocks
Binance Link
Reuters Link
ADX Link
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The central banks of China and Saudi Arabia have agreed on their first currency swap to foster bilateral commerce denominated in the yuan and the riyal, opening the way for more trade to flourish in local currencies.
SCMP Link
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Washington, D.C. — "The Commodity Futures Trading Commission at its open meeting on December 13 approved the following proposed rules and a DCO application."
If you have any foreign currency to swap, you are going to enjoy what you are about to read. These four rules have been accepted and approved to move forward:
"Proposed Rule: Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants
Proposed Rule: Capital and Financial Reporting Requirements for Swap Dealers and Major Swap Participants
Proposed Rule: Protection of Clearing Member Funds Held by Derivatives Clearing Organizations
Amended Application of Bitnomial Clearinghouse, LLC for Registration as a Derivatives Clearing Organization
Proposed Rule: Amendments to Swap Data Recordkeeping and Reporting Requirements"
January 2024 continues to be a month whereby many of the structural components needed to allow us to begin converting our investments are being finalized.
© Goldilocks
https://www.cftc.gov/PressRoom/PressReleases/8838-23
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"The final SEC ruling on mandatory clearing will cause a shake-up in the repo market
The market has been slow to automate, but is now moving to adapt
The Common Domain Model (CDM) holds promise for standardisation"
The Common Domain Model (CDM) is a standardized, machine-readable and machine-executable mechanism.
This mechanism is what will move the financial products through electronic trades designed to complete transactions on both sides of a trade.
The CDM is being implemented early 2024 to automate trades and clearing them through electronic measures designed to move transactions inside new Quantum Technologies.
It is move from paper and pen to automatic computations run on the QFS.
The Repo Market is a repurchase agreement that fills 1 to 2 trillion dollars worth of trades each and every day. These are short-term executions of trade often done for government securities, but many banks can often use it in making investment conversions from a centralized location or electronic mechanism that is capable of handling trades between institutions.
The Repo Market has been slow to comply to the standardization process of the QFS. Now, they have been given the green light to move forward with these new changes.
© Goldilocks
The Banker Link
ICMA Group Link
ISDA Link
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$30 Trillion Unlocked & $290 Trillion Expected Value!
https://youtu.be/UVtsMsEWlNc?feature=shared
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SA needs a universal basic income to combat unemployment
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Harvard law expert says ‘prescribing cash’ to low-income families improves health outcomes
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St. Paul gave $500 each month to 150 people: Here’s what happened
https://www.fox9.com/news/saint-paul-guaranteed-income-results
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JUST IN: Galaxy Digital CEO says a Spot Bitcoin ETF will be approved before January 10th.
@WatcherGuru
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The IMF just recently ended their latest consultation with Iraq. They have been given a year-long assessment of their findings and follow-up procedures regarding their new economic reforms enacted earlier this year of 2023.
At this time, they have been given the green light to do the following:
"passthrough from the exchange rate revaluation"
Let's take a closer view as to what this means. "Exchange-rate pass-through (ERPT) is a measure of how responsive international prices are to changes in exchange rates. Formally, exchange-rate pass-through is the elasticity of local-currency import prices with respect to the local-currency price of foreign currency."
Let's put this in more simple terms. Iraq is about to allow the markets to determine their new exchange rates. And, they are about to execute this new declaration beginning the first of January in 2024 in the use of Dinar currency only in International trade.
Watch the water.
© Goldilocks
IMF Link
Wikipedia Link
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Why This Boring, 5,000 Year Old Metal Could Become the Next Hot Commodity
Why This Boring, 5,000 Year Old Metal Could Become the Next Hot Commodity
Notes From the Field By Simon Black December 14, 2023
Over four thousand years ago in the early 2200s BC, the most dominant superpower in the world was the Akkadian Empire. The Akkadian Empire had conquered all of ancient Mesopotamia and brought the neighboring kingdoms under its control.
And the Emperor at the time, a man named Rimush, wanted to demonstrate to the world just how wealthy and powerful his Akkadian Empire truly was.
So he commissioned a statue to be built— a statue of himself, obviously. And he had it made from the most valuable substance in the world. But Rimush’s monument wasn’t made of gold. Or even silver.
Why This Boring, 5,000 Year Old Metal Could Become the Next Hot Commodity
Notes From the Field By Simon Black December 14, 2023
Over four thousand years ago in the early 2200s BC, the most dominant superpower in the world was the Akkadian Empire. The Akkadian Empire had conquered all of ancient Mesopotamia and brought the neighboring kingdoms under its control.
And the Emperor at the time, a man named Rimush, wanted to demonstrate to the world just how wealthy and powerful his Akkadian Empire truly was.
So he commissioned a statue to be built— a statue of himself, obviously. And he had it made from the most valuable substance in the world. But Rimush’s monument wasn’t made of gold. Or even silver.
Thousands of years ago, the most valuable resource in the world was actually tin... as in tin foil.
This was a period in history known as the Bronze Age, a point where ancient civilizations had grasped a basic knowledge of metallurgy.
Rather than use stone tools, people discovered that they could smelt copper with tin, and the resulting metal— bronze— was a very sturdy fit for tools, weapons, and building material.
Copper was incredibly abundant, and many copper mines existed in the ancient world. But tin was scarce, especially among proto-European and near-East civilizations.
Miners had to travel a very long way— to the mountains of Afghanistan, or across the British Isles, to find tin. And its scarcity made it extremely valuable.
Tin mines became critical assets. Tin trade routes became strategic resources worth fighting over. In fact it’s possible that the legendary Trojan War may have actually been fought over the tin trade.
So you can understand why it was such a tremendous show of wealth when Emperor Rimush chose to make a statue of himself out of tin.
Human civilization obviously progressed beyond the Bronze Age and eventually learned how to forge iron and steel, so tin became almost forgotten.
Yet surprisingly tin is still quite a critical metal today. In fact its most important use is in solder on electronic circuit boards. Literally every circuit, whether in an iPhone or standard kitchen toaster, contains tin; tin is effectively the glue that binds electron pathways and circuit components together.
But we’re talking very small amounts; every single iPhone, for example, contains just a couple grams of tin— which costs only a few pennies.
Think about that – in order to sell a $1000+ product, Apple requires a few pennies worth of tin. This makes tin extremely important… yet very cheap relative to its importance.
It also means that tin prices could skyrocket 5x, and Apple probably wouldn’t even notice.
Yet for tin producers, a 5x increase in prices would have them ROLLING in profits.
And this is what’s so interesting about tin. It’s not sexy. It’s a mostly forgotten metal. And as a result, there are only a handful of companies in the world that mine it.
Yet with so many more electronics being produced... much of this as a result of the AI revolution... tin supply is actually starting to dwindle.
Back during the Cold War in the 1950s, the US government actually stockpiled tin in an attempt to corner the market and prevent the Soviets from making advanced electronics.
The US didn’t really need all that tin at the time... so for the past several decades, the electronics industry has been slowly drawing down that stockpile.
Tin production also slowed down; after all, why bother with the expense of mining tin when the US government was selling off its stockpiles?
But now the stockpiles are almost gone. And yet tin production is still down... while demand (because of the booming electronics industry) is soaring.
All these conditions create a strong likelihood that tin prices could rise dramatically.
In fact a study conducted by MIT showed that tin was the metal most likely to be impacted by the advent of new generation technologies such as robotics, electric vehicles and AI.
It’s crazy to think about that a forgotten metal that hasn’t been ‘important’ for literally thousands of years since the end of the Bronze Age could stand to benefit the most from the AI boom.
And again, there are only a handful of tin suppliers in the world who mine the stuff. So they could really make a killing.
We recently sent some research to our premium members, for example, about a tin producer that already generates solid profits based on where tin prices are right now. They also pay a great dividend, and could even turn a profit if tin prices were to plummet.
But if tin prices soar, this company (which also has a great balance sheet) could see a dramatic rise in its profitability and value.
I write a lot about the importance of owning real assets, i.e the most important resources that the world truly needs, and the companies that produce them. Food. Energy. Productive technology. And, yes, certain metals like tin that play a prominent role in a coming boom.
Uranium is another great example— I’ve been talking about the importance of nuclear energy and uranium scarcity for quite some time, and saying that eventually the supply/demand imbalance will send uranium prices soaring.
That has now happened. Uranium prices are up more than 50% this year, and at their highest levels since 2008.
I think the same thing could happen to boring old tin, as it once again becomes an incredibly important resource.
Simon Black, Founder Sovereign Man
Goldilocks' Comments and Global Economic News Monday Evening 12-11-23
Goldilocks' Comments and Global Economic News Monday Evening 12-11-23
Good evening Dinar Recaps,
Banking Announcement:
A US Congressional Bill HR 8950 is set for a vote in January 2024 that will cement cryptocurrencies as commodities and not securities.
All crypto on the blockchain will be regulated as a commodity by the CFTC - this will be signed into US law as early as January when the H.R.8950 - Digital Commodities Consumer Protection Act of 2022 - goes for final vote and presidential signature.
Goldilocks' Comments and Global Economic News Monday Evening 12-11-23
Good evening Dinar Recaps,
Banking Announcement:
A US Congressional Bill HR 8950 is set for a vote in January 2024 that will cement cryptocurrencies as commodities and not securities.
All crypto on the blockchain will be regulated as a commodity by the CFTC - this will be signed into US law as early as January when the H.R.8950 - Digital Commodities Consumer Protection Act of 2022 - goes for final vote and presidential signature.
The SEC will get jurisdiction on Securities backed by crypto assets like Spot ETFs.
https://youtu.be/4ZekspEA-b4 https://youtu.be/4ZekspEA-b4
© Bull Runners
Banks who are prepared to make their move in January 2024 will benefit greatly from this decision. They will be able to revalue their gold reserves.
Once this legislative bill is signed into law, it will create a market signal for gold to run to its real value.
It will begin creating price pressures on the Commodity Market, Cryptocurrency Market, and all Tokenized Assets in the Market backed by gold and other commodities.
This will begin to reset prices across all sectors of the Global Market.
© Goldilocks
Congress Link
"This bill grants exclusive jurisdiction to the Commodity Futures Trading Commission over activity involving digital commodities as specified by the bill.
The bill defines digital commodities as fungible digital forms of personal property that can be transferred from person to person without an intermediary. Excluded from this definition are securities, interests in physical commodities, and U.S.-backed digital currencies. The commission does not have jurisdiction over digital commodities used solely for the purchase or sale of a good or service.
Digital commodity platforms (including brokers, custodians, dealers, and trading facilities) must register with the commission and comply with risk management and good governance procedures. The bill also sets forth recordkeeping requirements, conflict of interest standards, and other consumer protections."
And more...
"Google will allow ads for U.S. based-crypto trusts from January, with the change seemingly coming in the same month that spot Bitcoin ETFs are predicted to be approved.
In a Dec. 6 policy change log, Google said its crypto and related products ad policy will be updated on Jan. 29, 2024, to allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
Cryptocurrency Coin Trusts were exampled as “financial products that allow investors to trade shares in trusts holding large pools of digital currency” — likely including ETFs.
https://en.bitcoinsistemi.com/google-announces-a-change-in-its-cryptocurrency-policy/
👆 Goldilocks pointed to this 👆
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Banking Announcement:
Cantons of Basel, Zurich have moved from their pilot program to settling their digital bonds with wholesale CBDCs.
The settlement happened on December 1, 2023 as part of Project Helvetia Phase III. This project was first announced by the Saudi National Bank in November 2023.
"The initiative explores real-world use cases of a wholesale CBDC for commercial banks and is designed to run until the middle of 2024."
© Goldilocks
https://coingeek.com/cantons-of-basel-zurich-settle-digital-bonds-with-wholesale-cbdcs/
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Banking Announcement:
“IBM applauds EU negotiators for reaching a provisional agreement on the world’s first comprehensive AI legislation. We have long urged the EU to take a carefully balanced approach, focused on regulating high-risk applications of AI while promoting transparency, explainability, and safety among all AI models. As lawmakers work through the remaining technical details, we encourage EU policymakers to retain this focus on risk and accountability, rather than algorithms.
We share the goals of enabling AI’s safe and trustworthy development and creating an open, pro-innovation AI ecosystem, and recognize that both government and industry have roles to play. Recently, IBM announced watsonx-governance (https://www.ibm.com/products/watsonx-governance) to provide organizations with the toolkit they need to manage risk, embrace transparency, and anticipate compliance with AI-focused regulation like this.
IBM looks forward to working with the EU institutions, governments, and other stakeholders to support the responsible uptake and governance of AI so its benefits are enjoyed broadly across business and society.” https://newsroom.ibm.com/IBM-Statement-on-the-Landmark-EU-AI-Act
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Protocol 20 Announcement:
"Stellar’s Galactic Reset: Protocol 20 Upgrade Shines Bright on December 18th"
"The Stellar network has been preparing to support smart contracts through the Soroban platform that has been in development for the past two years with an initial funding of $100 million.
Anyone who runs Stellar-associated software has been informed to update the respective versions before January 30, 2024, when the public network will be upgraded to enable it to support DeFi protocols." CryptoNewsFlash Link
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New Banking Settlement Announcements:
China is persuading African nations to use the Chinese Yuan instead of the US dollar for cross-border transactions as it moves to expand the BRICS alliance.
Zambia exports raw and processed copper to China each year for $2 billion. China is pushing de-dollarization by encouraging Zambia to pay for copper using the Yuan.
China has been instrumental in promoting the de-dollarization movement across many developing countries, including those in Africa.
https://www.cryptopolitan.com/brics-to-ditch-dollar-in-2b-copper-deal/
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Today’s sale of 3-year Treasury notes was met with low demand, with *primary dealers forced to take on a large portion of the treasury sale to make up for a lack of bidders.
*Primary dealers are trading counterparties of the New York Fed in its implementation of monetary policy. Primary dealers are expected to make markets for the New York Fed on behalf of its *official accountholders.
*Official accountholders for the NT Fed are the U.S. government, foreign governments, other central banks, and official international organizations.
From Greg Mannarino
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The average perceived probability of missing a minimum debt payment over the next three months decreased by 0.2 percentage point to 11.8% in November, a level comparable to those prevailing just before the pandemic.
After reaching its lowest reading in three years last month, the median expected year-ahead change in taxes (at current income level) bounced back by 0.3 percentage point to 4.1% in November.
Median year-ahead expected growth in government debt increased to 10% in November from 9.8% in October.
The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months decreased by 0.8 percentage point to 29.5%.
Perceptions about households’ current financial situation were mostly unchanged compared to last month. In contrast, consumers were more optimistic about their year-ahead financial situation with a smaller share expecting to be worse off.
The mean perceived probability that U.S. stock prices will be higher 12 months from now rose by 2.3 percentage points to 36.5%.
About the Survey of Consumer Expectations (SCE)
The SCE contains information about how consumers expect overall inflation and prices for food, gas, housing, and education to behave. It also provides insight into Americans’ views about job prospects and earnings growth and their expectations about future spending and access to credit.
The SCE also provides measures of uncertainty regarding consumers’ outlooks. Expectations are also available by age, geography, income, education, and numeracy.
The SCE is a nationally representative, internet-based survey of a rotating panel of approximately 1,300 household heads. Respondents participate in the panel for up to 12 months, with a roughly equal number rotating in and out of the panel each month.
Unlike comparable surveys based on repeated cross-sections with a different set of respondents in each wave, this panel allows us to observe the changes in expectations and behavior of the same individuals over time. For further information on the SCE, please refer to an overview of the survey methodology here, the interactive chart guide, and the survey questionnaire
Contact Mariah Measey (347) 978-3071 Mariah.Measey@ny.frb.org
An Overview of the Survey of Consumer Expectations
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Swiss finance sector told to ‘green’ up its act
https://www.swissinfo.ch/eng/swiss-finance-sector-told-to--green--up-its-act/49036014
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Navigating Currency Exchange Risks With Multicurrency Accounts Forbes Link
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BREAKING: REPORTS SUGGEST #XRP TO BE BACKED BY GOLD IN 12-24 MONTHS BY THE BRITISH MULTI-NATONAL BANK.
https://twitter.com/CryptoGeekNews/status/1733979142629032430?t=Y8Zlk2frsDdcSHa-KDlLBw&s=35
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JUST IN: $150 million liquidated from the crypto market in the past 45 minutes. @WatcherGuru
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I've NEVER BEEN MORE BULLISH ON SILVER! This Is Will Be the Catalyst for 100 Oz - Andy Schectman
https://youtu.be/CGy05tBrRuA?feature=shared
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Economist's "Gold Standard News and Views" Thursday 12-7-2023
ALERT: A New GOLD STANDARD? Central Banks Prep For a 'Monetary Reset'
Mike Maloney: 12-7-2023
Join Mike Maloney and Alan Hibbard as they dissect one of the most important articles of 2023. Which central banker just admitted that they are preparing for a 'monetary reset'?
How long have they been preparing?
What about other countries? Will we see a new gold standard, and what will that mean for the average Joe? All of this and more will be discussed in today's feature-length video.
ALERT: A New GOLD STANDARD? Central Banks Prep For a 'Monetary Reset'
Mike Maloney: 12-7-2023
Join Mike Maloney and Alan Hibbard as they dissect one of the most important articles of 2023. Which central banker just admitted that they are preparing for a 'monetary reset'?
How long have they been preparing?
What about other countries? Will we see a new gold standard, and what will that mean for the average Joe? All of this and more will be discussed in today's feature-length video.
**ALERT** Poland & EU Preparing GOLD STANDARD: How it Could Affect Your Silver & Gold Price
Ron’s Basement: 12-7-2023
Explore the intriguing possibility of Poland and other European Union countries transitioning to a gold standard in this thought-provoking video.
Dive into the insights shared by the Dutch Central banker as we unravel the significance of major EU nations holding gold reserves equivalent to 4% of their GDP.
Join the discussion on the recent pullback in gold and silver prices, examining how these healthy corrections lay the foundation for robust future gains. Delve into the timeless markets of gold and silver, reflecting on their historical resilience and unique ability to provide a foresightful perspective on the economic landscape.
Don't miss out on this insightful exploration of economic strategies and precious metals.
Goldilocks' Comments and Global Economic News Monday Evening 12-4-23
Goldilocks' Comments and Global Economic News Monday Evening 12-4-23
Good Evening Dinar Recaps,
Things are beginning to heat up in the Forex Markets. Look for foreign currencies to begin lining themself up as they begin to establish their place in the new digital economy.
Programs are being rewritten at this time to establish new protocols and standards on local currencies instead of the use of the dollar as new trade agreements come into the forefront.
Goldilocks' Comments and Global Economic News Monday Evening 12-4-23
Good Evening Dinar Recaps,
Things are beginning to heat up in the Forex Markets. Look for foreign currencies to begin lining themself up as they begin to establish their place in the new digital economy.
Programs are being rewritten at this time to establish new protocols and standards on local currencies instead of the use of the dollar as new trade agreements come into the forefront.
There may be a major development to keep people from watching this closely, so it is important for us all to stay awake.
Unless we get a nice surprise this month, don't look for any major changes just yet. Benchmarks have been pushed out in the banking system, but they can be pulled right back in...
© Goldilocks
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"...the Bank of England is set to collaborate with international counterparts to ensure a coordinated and harmonized approach to stablecoin regulation. Recognizing the borderless nature of cryptocurrencies, such collaboration is deemed essential to prevent regulatory arbitrage and maintain the integrity of the global financial system. As part of this initiative, the Bank will also explore the possibility of developing a central bank digital currency (CBDC)."
Look for 2024 to be the year of integration for digital and paper currencies through Stablecoins and CBDC networks.
Tighter regulatory protocols will determine which digital networks will move forward in the transference of currency tokens that will represent foreign exchange opportunities.
The Protocol 20 vote on January 30th of 2024 will determine programmable prices on the digitization of currencies through tokenizing these assets and supporting them with gold.
© Goldilocks
TechStory Link
AltCoinBuzz Link
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Let's take a good look at why Protocol 20 is so important. We're moving into a time where programmable money is controlled by a Central Authority such as a Government or Financial Institution.
Digital money can be programmed to follow through with transactions when certain conditions are met.
Self-executing contracts known as smart contracts to secure both sides of a trade are capable of going through will be done through artificial intelligence. The self executing contracts are written into the code of a computer program to facilitate sequences moving digital money.
Programmable money includes CBDCs, Stablecoins, and digital versions of traditional assets that are Tokenized into a digital format.
When protocol 20 is voted and approved on January the 30th 2024. It will create a new starting point for digital tokenized asset values. It will synchronize banks and shipping ports with the markets at the push of a button. New monetary values will begin to form from these starting points in all sectors of the market including Forex.
These new standard protocols backed by gold, algorithmic demands, and other commodities will create global computations that will level the playing field. Everything will reset.
Watch the banks.
Watch the markets.
Watch the water.
Watch gold.
© Goldilocks
Financial Express Link
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12:20 am ET JUST IN: $41,000 Bitcoin
@WatcherGuru
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⚠️📈*THE IMF & CENTRAL BANKS JUST CONFIRMED RIPPLE/XRP & XRP WILL BE $1 BY EOY*📈⚠️
https://youtu.be/0C3ZFaZs_Sw?feature=shared
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Sovereign Gold Bonds (SGBs): A Lucrative Long-Term Investment with Tax Advantages
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10:20 am ET JUST IN: $42,000 Bitcoin
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BREAKING NEWS
THE BANK FOR INTERNATIONAL SETTLEMENTS IS WARNING THAT CENTRAL CLEARINGHOUSES THAT HOLD OVER $1 TRILLION IN LIQUID ASSETS MAY EXACERBATE PERIODS OF FINANCIAL STRESS
This does not seem good.
Read: https://x.com/goldtelegraph_/status/1731653617973916125?s=46
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JP Morgan is live on multi bank tokenized deposit platform Partior - Ledger Insights - blockchain for enterprise
https://www.ledgerinsights.com/jp-morgan-is-live-on-multi-bank-tokenized-deposit-platform-partior/
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Another Central Banker Admits The Truth About The US Dollar
Another Central Banker Admits The Truth About The US Dollar
Notes From the Field By Simon Black November 28, 2023
On March 20, 1602, after a few years of painstaking negotiations, a deal was struck amid the cobblestone streets and legendary waterways of Amsterdam that changed the world of finance forever.
The Dutch Republic (as it was known back then) was already a major economic power in the early 1600s; Dutch merchants boasted enormous fleets of thousands of ships and lucrative trading posts around the world. Money was pouring in to the economy.
But at the same time, competition was fierce. England, Spain, Portugal, etc. all wanted in on the vast wealth that Dutch merchants were minting from the spice trade.
Another Central Banker Admits The Truth About The US Dollar
Notes From the Field By Simon Black November 28, 2023
On March 20, 1602, after a few years of painstaking negotiations, a deal was struck amid the cobblestone streets and legendary waterways of Amsterdam that changed the world of finance forever.
The Dutch Republic (as it was known back then) was already a major economic power in the early 1600s; Dutch merchants boasted enormous fleets of thousands of ships and lucrative trading posts around the world. Money was pouring in to the economy.
But at the same time, competition was fierce. England, Spain, Portugal, etc. all wanted in on the vast wealth that Dutch merchants were minting from the spice trade.
So in an effort to fend off international competition, Dutch traders unified their operations; merchants in Amsterdam merged in 1601. And, the following March, the remainder of the country’s prominent merchants joined.
They called their new venture the Verenigde Oostindische Compagnie (VOC); it is known to history as the Dutch East India Company.
What made VOC so innovative is that investors could buy shares in the company, and hence enjoy a piece of the profits proportionate to the number of shares they owned.
But on top of that, they also launched a stock exchange… creating a secondary market where investors could buy or sell shares of VOC.
This was game changing.
These innovations by themselves were not new; other ‘joint-stock’ companies had been formed in the past. And other rudimentary financial exchanges had already been in existence.
But the Dutch put the two together, combining a major business enterprise with a formalized stock exchange. It had never been done before… and the idea marked the beginning of the country’s economic dominance, known as the Dutch Golden Age.
Naturally, as the Dutch Republic became Europe’s most powerful economy, its currency-- a gold coin known as the guilder-- became the unofficial reserve currency around the world.
From Eastern Europe to Japan, Indonesia, and parts of India, traders often exchanged goods and services for Dutch guilders because they had confidence that the coins would be universally accepted.
And the guilder’s status as a de facto reserve currency lasted for centuries.
But history is very clear that no empire, and no reserve currency, lasts forever.
Eventually the dominance of the Dutch republic was displaced by the British Empire, and the guilder by the British pound. Britain, in turn, was eventually displaced by the United States and the US dollar.
But only someone willfully ignorant of history would believe that America’s and the dollar’s dominance will last forever.
And this should hardly be a controversial assertion anymore.
Politicians within US government have routinely demonstrated an outrageous level of pettiness, incompetence, and the inability to solve even the most basic problems.
They have absolutely no control over abhorrent deficit spending. They go into debt to pay people to NOT work. They ignore downgrades of their sovereign credit rating. And they actually cheer themselves when the deficit is “only” $2 trillion.
America’s central bankers, meanwhile, conjured trillions of dollars out of thin air without any clue of the repercussions. They failed to predict inflation. They failed to diagnose it. They failed to do anything about it.
And when they finally did take action, they failed to anticipate any negative consequences of raising interest rates so quickly.
Literally two days before Silicon Valley Bank went bust earlier this year, the Chairman of the Fed told Congress that “nothing about the data suggests we’ve tightened [raised interest rates] too much.”
These people are clueless. And everyone has noticed.
Confidence in the dollar is waning, and foreigners are starting to diversify to other assets. Data from the IMF showed that the US dollar’s share of foreign exchange reserves had fallen to a multi-decade low.
Similarly, foreigners’ appetite to own US government bonds is dropping rapidly. A decade ago, foreigners happily owned 43% of all US government bonds. Today foreigners’ share is 30%, and falling.
These trends show very clearly that the dollar is simply not as dominant as it used to be.
In a recent interview, Aerdt Houben, a senior official at the Dutch central bank, said the quiet part out loud, and explained that the Netherlands was already preparing for a world in which gold (and NOT the US dollar) is the primary global reserve currency.
“The beauty of gold is that it’s stable in value, it retains its value. That's one of the reasons why central banks hold gold... Gold is like solidified confidence for the central bank... If we ever unexpectedly have to create a new currency or a systemic risk arises, the public can have confidence in [the Dutch central bank] because whatever money we issue, we can back it with the same value in gold.”
The Dutch understand this concept very well; after all, they once held the world’s #1 reserve currency position… and then lost it. So they know the same thing will happen to the dollar. It’s inevitable.
I agree entirely with this view and have written about it extensively: I believe there is a very high likelihood that the dollar loses its reserve dominance within the next 10-years, and probably sooner.
The Congressional Budget Office has already forecast (rather optimistically) that interest on the debt, plus mandatory entitlements like Social Security, will consume 100% of US federal tax revenue by 2031.
This means that everything else, including the military, will have to be financed by debt.
Two years later in 2033, Social Security’s primary trust fund will run out of money, according to the program’s annual trustee report.
These are not conspiracy theories; rather, these are the government’s own forecasts. And I believe that either event could trigger a reset of the global financial system in which the US loses its dominance over the rest of the world.
Personally I don’t think that anyone trusts China enough to anoint its yuan as the new global reserve currency.
But gold is an asset that has a 5,000+ year history of trust and confidence.
And if gold does become the global reserve once again, you can likely bet that gold prices will go to the moon.
Simon Black, Founder Sovereign Man
Goldilocks' Comments and Global Economic News Monday AM 11-27-23
Goldilocks' Comments and Global Economic News Monday AM 11-27-23
Good morning Dinar Recaps,
"Key players in the global container freight transport market include:
Maersk
Hapag-Lloyd AG
Evergreen Marine Corp.
MSC Industrial Direct
COSCO Shipping Development
CMA CGM
APL Logistics Americas
Kuehne Nagel
Hanjin Group
Goldilocks' Comments and Global Economic News Monday AM 11-27-23
Good morning Dinar Recaps,
"Key players in the global container freight transport market include:
Maersk
Hapag-Lloyd AG
Evergreen Marine Corp.
MSC Industrial Direct
COSCO Shipping Development
CMA CGM
APL Logistics Americas
Kuehne Nagel
Hanjin Group
The container freight transport market is driven by a number of factors, including:
The growing volume of global trade
Increasing globalization of supply chains
The growth of e-commerce"
The shipping industry is growing into more volume along with more efficiency through digitizing this new trading sector. These factors will go into play as new price determinations are coming into view.
This is where the rubber meets the road on the formation of exchange rates around the world.
Protocol 20 will determine new tokenized asset prices, and the shipping industry will support the determination of these values through volumes being priced because of it.
© Goldilocks
https://prophecyjournals.com/revolutionizing-global-commerce-unveiling-the-dynamics-and-trends-shaping-the-container-freight-transport-market/
~~~~~~~~~~
Small businesses are about to be given a Level Playing Field in trade through Free Trade Agreements.
FTA agreements inside the new digital economy will give small businesses the opportunity to trade just like the big boys and girls.
Yes, new trade agreements can be signed anywhere in the world allowing International transactions to take place across the globe through virtual trade venues making it all possible.
© Goldilocks
https://www.business-standard.com/industry/sme/msmes-getting-greater-attention-in-free-trade-agreements-govt-official-123112301208_1.html
~~~~~~~~~~
Next Bitcoin Halving 2024 Date & Countdown [BTC Clock]
https://buybitcoinworldwide.com/halving/
👆 Goldilocks pointed to this article
~~~~~~~~~~
Many people are beginning to wake up to copper
Stable jurisdictions are crucial, which is being demonstrated in real-time as the situation continues to evolve at one of the largest copper mines in the world, which First Quantum owns.
This upcoming week will be interesting
Read: https://x.com/goldtelegraph_/status/1728884949707882880?s=46
👆 Goldilocks pointed to this article
~~~~~~~~~~
Everybody was wrong about the amount of damage that an artificially suppressed price of silver could cause.
Next month 200 Countries will announce through the United Nations the need to TRIPLE Green Energy production and 5X SOLAR POWER INSTALLATIONS by 2030!
This will HAVE to be done to SAVE THE WORLD!
The Problem is that there's not enough silver on the planet to do that.
Here's what went wrong...the price of silver was suppressed for so long that alternatives to silver in solar panels was NOT necessary so not invented...BIG MISTAKE!
Now the #1 CHOICE to End Climate Change is creating massive amounts of solar farms eating up every ounce of silver on the planet...at $24/oz.
By the way...they have no alternatives!
GOT PHYSICAL SILVER?!
SILVER ALERT! Cheap Solar Silver Will SAVE the World & Fairly Valued Silver Will END IT! (Bix Weir)
https://www.youtube.com/watch?v=uzYd3DEfPDw
~~~~~~~~~~
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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
~~~~~~~~~~
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/
~~~~~~~~~~
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
~~~~~~~~~~
Ethereum Insider Ready For Battle: ETH Founders’ Fraud Proof Coming In 4-5 Days
https://bitcoinist.com/ethereum-insider-eth-founders-fraud/
~~~~~~~~~~
Exporters to be able to exchange currencies through foreign brokers
~~~~~~~~~~
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/
~~~~~~~~~~
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
~~~~~~~~~~
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/
~~~~~~~~~~
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
~~~~~~~~~~
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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Subscribe to Newsletter
Thank you Dinar Recaps -- www.DinarRecaps.com
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
~~~~~~~~~~
How to Migrate to ISO 20022 ACI Worldwide Link
~~~~~~~~~~
Ripple To Partner With Georgia’s Central Bank in the Eurasian Country’s CBDC Pilot The Daily Hodl Link
~~~~~~~~~~
Supply Chain Resiliency Can Be Boosted with Production Production and Digital Maturity
Material Handling and Logistics Link
~~~~~~~~~~
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
~~~~~~~~~~
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
~~~~~~~~~~
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
~~~~~~~~~~
FCA and Bank of England publish proposals for regulating stablecoins Bank of England Link
~~~~~~~~~~
MORE RUNS ON BANKS... EXPECT PRICE ACTION DISTORTIONS TO WORSEN, FASTER.
~~~~~~~~~~
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
~~~~~~~~~~
CFPB Proposes New Federal Oversight of Big Tech Companies and Other Providers of Digital Wallets and Payment Apps
Consumer Financial Protection Bureau Link
~~~~~~~~~~
Blockchain Revolution: A Race for Banking's Survival
https://www.financemagnates.com/cryptocurrency/blockchain-revolution-a-race-for-bankings-survival/
~~~~~~~~~~
Keough School expert to play key role in COP28 climate talks on food systems
~~~~~~~~~~
Fedwire Will Get Boost From ISO 20022 and Data-Rich Messaging
~~~~~~~~~~
"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
~~~~~~~~~~
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
~~~~~~~~~~
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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Thank you Dinar Recaps
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