Goldilocks' Comments and Global Economic News Wednesday Evening 5-22-24

Goldilocks' Comments and Global Economic News Wednesday Evening 5-22-24

Good Evening Dinar Recaps,

"Ripple CLO Claims The SEC Has a NODE on the XRP Ledger"

A NODE offers ways to approve and process transactions without a centralized authority. 

A node validates and authenticates blockchain transactions. A Blockchain node's primary job is to confirm the legality of network transactions.

Once a confirmation is made between two digital networks through a blockchain consensus, a transaction is validated on both sides of an exchange.

A protocol brings all nodes of a distributed blockchain network into agreement on a single data set or similar data confirming the right to move forward inside a blockchain connection. Then, a digital transaction can go through for both parties.

This is done electronically and without the need of someone mediating the transaction on the QFS.

It looks like XRP and the SEC have decided to play ball together. Times Tabloid  Trade Marks   Ledger

© Goldilocks

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Okay. It is official. Ripple and the SEC are doing more than playing ball together. They are in business together.

"Ripple has filed a new trademark for the phrase “RLUSD,” suggesting the likely listing symbol for its proposed dollar-based stablecoin."   Trade Mark 

A trademark does three things:
* It identifies the source of your product
* It provides legal protection for your brand name and product
* It protects you against counterfeiting and fraud

This officially ties the SEC and Ripple together in a partnership. This new filing has given them intellectual property rights to copy and expand in a business together.

This love/hate relationship has certainly turned a corner. As the pages are turned on their past relationship in courts, it will certainly be interesting to read the next chapters of what they can do together.     The Crypto Basic    Maynardnexsen

© Goldilocks

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Do you see why the XRP and SEC connection is so important? Yes, Ripple is ISO compliant. Now that changes things a little bit... 😉

© Goldilocks

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ISO 20022 Crypto: Which Coins & Tokens are Compliant? - CoinCheckup

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Iraq clears all debts to IMF | Iraqi News

Baghdad (IraqiNews.com) – The financial advisor to the Iraqi Prime Minister, Mazhar Salih, confirmed recently that Iraq has repaid all the loans it has taken from the International Monetary Fund (IMF) since 2003, a total of just under $8 billion.

Salih explained that the IMF provided several loans to Iraq, aiming to support macroeconomic stability and financial reforms, the Iraqi News Agency (INA) reported.

Between 2003 and 2021, Iraq obtained several financing programs from the IMF, including emergency loans and long-term financial assistance.

In 2016, the IMF approved a financial program worth $5.34 billion to support economic reforms in Iraq. Within five years, Iraq paid out the loan in full after obtaining two-thirds of the total.

Iraq sought a $6 billion emergency loan from the IMF in 2021; however, the loan was not granted because, at the time, it hadn’t been linked to any of the IMF’s initiatives.

Iraq’s engagement with the IMF was intended to assist in addressing the economic issues brought on by the drop in oil prices, which were connected to fluctuations in the balance of payments, as well as to promote government reforms.

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The People’s Bank of China (PBOC) and the Bank of Thailand signed a memorandum of understanding (MOU) on Tuesday to enhance cooperation in facilitating bilateral transactions using local currencies. |  Modern Diplomacy

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The American Bankers Association urged House leaders to back a bill that would stop the Federal Reserve from creating a CBDC for individuals. |  Crypto News

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"Ripple believes in CBDCs seeing them as crucial for asset tokenization!"

Is Ripple about to be the CBDC alternative? Is Ripple quickly becoming the new CBDC? Will Ripple replace the dollar?

The answer to these questions are simply put, not likely. Yet, Ripple is what is going to move CBDCs and all assets inside the new digital economy.

Ripple respects your privacy and intends to keep your information secure. (See article below) Ripple will be the settlement token that will move your money.

This is the most likely scenario that will be seen going forward. It is an alternative option that may very well be what will take place.

Life is a Quantum Soup and the taste of the final product is and will be determined by the ingredients that make it up.   Rich Turrin Substack   Ripple Energy

© Goldilocks

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👆Ripple is at the forefront of the CBDC revolution, engaging with governments globally to leverage its technology for digital currency development. In May 2023, Ripple launched a dedicated platform to assist central banks, governments, and financial institutions in issuing CBDCs and stablecoins.   2 days ago | Forbes

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3 Unconventional Trends Reshaping The Business Landscape | Forbes

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Todays House Bill removes the @SECGov entirely from crypto.

Puts all power in the hand of the Secretary of the Department of Commerce.  Twitter  Congress

Since 2021 this was Gina M. Raimondo. @SecRaimondo

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Banking Announcement:

Spot Ethereum ETF approved. Ethereum is a smart contract. Here's what it does. ETHV is currently listed on DTCC.

The DTCC is the Depository Trust & Clearing Corporation. The DTCC clears and settles virtually all broker-to-broker equity markets. Yes, Forex is an equity Market.

"A smart contract is a computer program or a transaction protocol () that is intended to automatically execute, control or document events and actions according to the terms of a contract () or an agreement."

It ensures that both sides of a trade can be securely executed with enough funds to ensure all requirements are fulfilled.   Reuters   TheBlock

© Goldilocks
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Swift Unveils New Cross-Border Payment Tracking Solution | PYMNTS

Swift Announcement:

Swift is extending ISO 20022 across the entire payment chain. 👇

"Swift has unveiled new ways for financial institutions to streamline cross-border payments for corporate customers.

The financial messaging service said it is doing this “by extending ISO 20022 across the entire payment chain and giving banks ready-to-use, white-labeled tracking services that can be activated for customers at the click of a button,” per a Tuesday (May 21) news release.

Swift plans to allow financial institutions (FIs) to capture rich data at its source by standardizing payments end-to-end with ISO 20022, according to the release.

In addition, Swift says it will also help banks offer customers payment tracking services by API or messaging channel, for complete transparency on the status of a payment as well as confirmation that it has been received."

So now, we have access to the ISO 20022 messaging system.

* Goldilocks

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What a month to remember...

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Expanding the cross-boundary e-CNY | Hong Kong Monetary Authority

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) have made further progress in the e-CNY pilot for cross-boundary payments, to expand the scope of e-CNY pilot in Hong Kong to facilitate the setup and the use of e-CNY wallets by Hong Kong residents, as well as the top-up of e-CNY wallets through the Faster Payment System (FPS).   

The interoperability between the FPS and the e-CNY system operated by the Digital Currency Institute (DCI) of the PBoC also marks the first linkage of a faster payment system with a central bank digital currency system in the world.  It provides an innovative use case which underscores interoperability, a key area set out in the G20 Roadmap for enhancing cross-border payments.

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AI Is Taking Over Accounting Jobs As People Leave The Profession | Forbes

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Asia Pacific Outshines Globally in Instant Payments Adoption - Blockchain News

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Swift standardizes payments end-to-end and gives banks ready-to-use tracking services to enhance corporate  | Swift

👆 this is going to change ISO20222 timelines a bit...😄

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Brussels, 21 May 2024 - Swift has today set out plans to help financial institutions streamline the cross-border payments experience for their corporate customers, by extending ISO 20022 across the entire payment chain and giving banks ready-to-use, white-labelled tracking services that can be activated for customers ...1 day ago | Swift

👆 I will say more on this tomorrow. This changes the game quite a bit my friends.

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VanEck's Ethereum ETF listed on DTCC ahead of SEC decision | ReadWrite

VanEck's spot Ethereum ETF listed on DTCC platform under "ETHV" ticker, awaiting SEC approval to become active. 

SEC officials in contact with major exchanges to update and modify existing spot Ether ETF applications.

Crypto community divided as May 23 deadline for SEC's decision on VanEck's ETF application approaches.

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A smart contract can execute an FX swap contract by locking the agreed rates and amounts on the blockchain, and transferring the funds automatically on the specified dates. This can reduce the need for intermediaries, such as banks or brokers, and lower the transaction fees and settlement time. | Linkedin

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This Is Serious  BRICS Nations Have Officially Set A Date To Ditch The US Dollar. | Twitter

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Ripple Vs. SEC Lawsuit: Latest Filing Marks Beginning Of The End Of Historic Battle | Bitcoinist

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IF THIS HAPPENS - CRYPTO WILL EXPLODE OVERNIGHT! MEGA CRYPTO NEWS! | Youtube

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Secret Banking Crisis Looms; What the Fed Doesn’t Want You to Know – Insider Nomi Prins | Youtube

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Goldilocks' Comments and Global Economic News Tuesday Evening 5-21-24

Goldilocks' Comments and Global Economic News Tuesday Evening 5-21-24

Good Evening Dinar Recaps,

"The final elements for the implementation of Basel III in the EU are now agreed and will start applying on the 1st of January 2025."

Currently, we have tokenized assets and stablecoins backed by gold and other commodities moving through legislation and expected to become law at the end of June 2024.

This is forcing governments around the world to begin making decisions to implement their new digital economy. These monetary policy shifts will create credit valuation adjustments across all sectors of the market including Forex.

Countries have began moving towards bilateral trade agreements utilizing their own currencies in trade. This move will increase the demand for their currencies, yet they still need a stable price on them.

This is where stablecoins come into play. Stablecoins are backed by commodities. This alone will support the need to raise the value of currencies around the world to level the playing field in trade.

For the last 4 years, trade has been disrupted and rerouted to increase the level of exports in countries around the world offering support for these new currency values that are about to come into play.

The IMF has been working with countries globally to give guidance and instruction on their countries' ability to shift into a new supply and demand regimen. Work has been done to increase Capital Requirements  through commodities and increasing exports.

These measures will support new values and justification for currency valuation adjustments because their credit in the ability of doing so will be met by the above requirements.

We have a deadline for these changes to take full effect by January 1st, 2025. As you can surmise, price pressures to move into a real value between now and then are about to begin.

Look for XRP and XLM to be the first movers in the new digital economy. Their supporting actors will be ISO 20022 digital coins. These ISO tokens will be networks that will move money from one sector of the market to another.

Our movement from wire transfers to instant transfers electronically and through a quantum computer will increase money velocity. This will increase demand and increase the value and support for currencies going to higher levels.

Just holding ISO tokens and utilizing them in the new economy, with gold backing each of them, will serve as the bridge to our next economy. Commodities will be the next long-term Bull Run.

Our first RV (digital) is about to interface with traditional market assets on the QFS. This will transform our banking system and markets (paper money) into the new digital asset based trading system - the second RV.  Study Smarter   The Print    IT Supply Chain    Investopedia   Deloitte
 
© Goldilocks

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RESULTS of Iraq's Emergency Budget Meeting | Youtube

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Twitter

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CBI Meeting with World Bank Vietnam in Trouble? Maybe | Youtube

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NEW: House Democratic leaders said today they will NOT whip against House Republicans' crypto bill, I'm told.

The whip question sent to members this a.m. says that Waters and Scott "strongly oppose" the legislation, but does not urge them to vote "no": politico.com/f/?id=0000018f…    Twitter

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Folks, the new digital economy continues to move forward, and it is beginning to force decisions around the world on the government level.

Things have reached a critical state in the currency markets forcing the issue to move forward with credit valuation adjustments across all sectors of the market.

We now have a drivers for the market. It is digital, gold, and sailed across the Open Seas.

© Goldilocks

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FIT21 Gets House Vote, Will Crypto Stay a Partisan Issue | CCN

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H.R.4763 - 118th Congress (2023-2024): Financial Innovation and Technology for the 21st Century Act | Congress.gov | Library of Congress

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H.R. 5403, CBDC Anti-Surveillance State Act | Congressional Budget Office

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Saudi fintech barq and TerraPay forge strategic partnership | Arab News

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Santander, Iberpay introduce global instant transfers | The Paypers

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Highlighted here, the Ripple case and the ruling of #XRP was the main catalyst that started the push for real legislation to pass.

Without Ripple v SEC, this week would not have happened.   Twitter

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Biden extends Iraq’s national emergency for more year | Search4Dinar

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Russia purchased arms manufactured by its BRICS counterpart India by paying $4 billion in local currencies and not the US dollar. The Indian-made arms and equipment were procured by Russia citing 'defense purposes'. | CryptoRank

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BlackRock Exec Predicts Tidal Wave of Institutional Money Flooding Into Bitcoin ETFs — TradingView News 

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World Economic Forum founder Klaus Schwab will leave executive post | Semafor

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Several States Take Steps To Block A Central Bank Digital Currency | ZeroHedge

👆 it's going to be a fight

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JUST IN: Donald Trump's presidential campaign officially accepts Bitcoin and crypto. | @Watcher Guru

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Silver's Final Breakout Has Begun as World Trumps US Derivative Markets | Youtube

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"Ripple CLO Claims The SEC Has a NODE on the XRP Ledger"

A NODE offers ways to approve and process transactions without a centralized authority.  

A node validates and authenticates blockchain transactions. A Blockchain node's primary job is to confirm the legality of network transactions.

Once a confirmation is made between two digital networks through a blockchain consensus, a transaction is validated on both sides of an exchange.

A protocol brings all nodes of a distributed blockchain network into agreement on a single data set or similar data confirming the right to move forward inside a blockchain connection. Then, a digital transaction can go through for both parties.

This is done electronically and without the need of someone mediating the transaction on the QFS.

It looks like XRP and the SEC have decided to play ball together.  Times Tabloid  Trade Marks  Ledger

© Goldilocks

~~~~~~~~~

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Goldilocks' Comments and Global Economic News Monday Evening 5-20-24

Goldilocks' Comments and Global Economic News Monday Evening 5-20-24

Good Evening Dinar Recaps,

"Geopolitical Tensions Continue to Shape Global Trade"

The BRICS Nations is and will continue to grow. The next economy will be determined by the price of gold, and not, the dollar. Many countries are leaving the dollar and trading in their own local currencies. To join the BRICS Nations, you have to own gold to support your country's currency. And then, you can be trading partners inside the BRICS Nations.

Saudi Arabia is expected to join this time around. They are expected to join in August of 2024. This shift from the Petro dollar to a Petro Yuan is expected to be a significant shift in monetary flow. It will create a more balanced set of demands on local currencies in a way we have not seen in a long time.

These new demands are forming because of geopolitical tensions, but we would have eventually had to move this direction anyway. A Fiat monetary system just simply is not meant to last forever. We have been in a transitional economy since we moved off of the gold standard in 1973 under President Richard Nixon.

For the last 4 years, new alliances have been formed on the sea and on the land that will determine new trading routes and trading partners. These new bilateral agreements between countries will form new trading relationships and new demands on our local currencies.

This will shift our economies forming new business models that will determine prices on goods and services through supply and demand. Each country will be backed by gold and other commodities to level the playing field and opportunities going forward.

This is never been a 'push of the button' reset moment. Rather, it has been a gradual evolution into a new way of life determined by an inner desire by each country to experience a level of freedom through conscious choices that bring forth what is best in all of us.

It is a movement of the body, mind, and soul to restore a separation that was never meant to occur. As we return to our natural habitat, our lives will be forever changed by an event that calls on what is highest in us to live in the world as it is.

The G20 will meet late this year to discuss and work on countries that still need attention in the Global South. The focus of this meeting is to level the playing field in the Emerging Markets. No one is left behind on this global transition. Every effort is being made to include every country in the world on this new digital asset-based trading system.   CSIS   BIS   AP News

WATCH THE WATER.

© Goldilocks

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The Bank of London launches GenAI assistant to aid enterprise API integration | Verdict

The Bank of London has launched an AI code assistant, and it is moving into mainstream banking. GenAI collects and interprets financial data on a large scale.

It helps banking managers make decisions for clients determining a good path forward for their money. It establishes portfolios designed to meet each customer's unique needs. And, it detects fraud and suspicious activities on people's accounts along with many other services.  

These products generated through an AI code goes into an Application Programming Interface (API). 

APIs are used to create an open structure that allows interaction between a bank's core services and third-party developers.

This allows banking services such as payments, identity verification, and data sharing to function.

© Goldilocks

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Implementation Status & Results Iraq - Iraq: Banking Sector Reform  

READ Pdf HERE

P1133370ISR0Di012201101318434831701.pdf

Mr. Ali Mohsen Al-Alaq recently met with the World Bank to discuss the next steps in the restructuring of Iraqi Banks into the new digital economy.

They have completed Phase 1 of their restructuring process, and now, they're moving into Phase 2. Phase 2 is the implementation stage of the Riyada Bank project.

Currently, the Central Bank of Iraq is licensing a number of digital banks.

© Goldilocks

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Real-time Analytics News for the Week Ending May 18 | RTinsights

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 Food for Others- Inspiring.MP4

 WATCH & LISTEN HERE

This is how life is supposed to be just so everyone knows..

Lots of love, lots of selfless giving that goes all the way around until it becomes a free energy engine of love. 

👆  Goldilocks pointed to this article

👆 a project idea...

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World Bank becomes first international issuer of digital Swiss franc bonds | Global Capital

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Ripple’s Global Payment Initiative in Collaboration with US Faster Payments Council | CoinPedia

According to the report, Ripple is positioning global payments as a top priority, aiming to revolutionize the industry. The survey, conducted in partnership with the FPC, delves into current and future adoption trends of blockchain payment systems, shedding light on the present scenario and what lies ahead.

Ripple’s CEO, Brad Garlinghouse, emphasizes, “[Blockchain will drive] faster payments between businesses, reducing settlement windows, and ensuring close-to-real-time payments for all bookings.”

Quoting from the report, Ripple emphasizes the real value that blockchain in payments unlocks. An impressive 77% of respondents believe that using blockchain for payments is either “Very Beneficial” or “Somewhat Beneficial” for their organizations’ end customers. Additionally, over 60% share the same sentiment regarding customers using cryptocurrency for payments.

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New Era of Inclusive Digital Payments Unveiled by NPCI |  Smartphone Magazine

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Keep your eyes on Digital Ledger Technology. Once this is regulated, instant payments become possible. (T+0 instant settlements) This will effect prices on tokenized assets and stablecoins.

This year, the movement of money itself will create a higher demand in the faster payment sectors of our Market. These new demands create price pressures.

© Goldilocks

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IBC to Ethereum: Building the interconnected Internet of Blockchains | CryptoSlate

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From the Goldilocks Q&A room

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What Is Apple Doing in AI? Summaries, Cloud and On-Device LLMs, OpenAI Deal - Bloomberg

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$1800 Stimulus Checks 2024 for Everyone: USD 1,800 Payment Status & Know Eligibility | Paymentweek

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Analyze This! Foreign Currency Liberalization | IMF Videos

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Stellar Network Adds Smart Contract Capabilities Bolstered by Extensive Onramp Network - The Defiant

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Goodbye to charging cars forever: the diamond battery that lasts 28,000 years and has an incalculable |  ECO News

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KRG shares first list of Know Your Customer (KYC) data with the Trade Bank of Iraq (TBI) | Search4Dinar

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Goldilocks' Comments and Global Economic News Saturday Evening 5-18-24

Goldilocks' Comments and Global Economic News Saturday Evening 5-18-24

Good evening Dinar Recaps,

"Last week, in a letter to the council, Iraqi Prime Minister Mohamed Shia al-Sudani called for the United Nations Assistance Mission for Iraq (UNAMI), which has been operational since 2003, to end by December 31, 2025."

Resolution 1770 (2007) was devised to give guidance for Iraq on internal protocols that would enable them to secure a safe environment for their people and become prosperous in the world around them.

The resolution was co-sponsored by:
* United Kingdom
* United States
* Italy
* Slovakia

There will be a meeting at the end of May to discuss the gradual removal of the United Nations' involvement with Iraq. It is believed that they have achieved their goals with Iraq, and they believe Iraq's ability to move forward on their own is showing consistent progress.

The UN's involvement with Iraq has been taking place since 2003. It has been a team of leaders from several Nations engaged in helping Iraq "transition" their political and economic economy into a place whereby their contribution to the world is capable of moving to a level of Independence.

Starting early June, Iraq will be gradually moving into their own. These stages of the independence will be monitored, but their control over their own Nation will increase with each passing day. Kurdistan24 Iraq UN

© Goldilocks

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Hong Kong officially launches pilot for digital yuan payments | Business Times

"HONG Kong launched a pilot programme enabling digital yuan payments through major Chinese banks, the first example of China’s currency project being deployed beyond the mainland.

Residents of the city can now open digital yuan wallets with Bank of China, Bank of Communications, China Construction Bank and Industrial and Commercial Bank of China to pay merchants in mainland China directly, Hong Kong’s de facto central bank said in a statement on Friday (May 17)."

Hong Kong has officially launched a pilot program that will allow them to utilize the Yuan as a form of payment.

Users can use the FPS payment system. FPS stands for Faster Payments Service. FPS is a UK banking initiative allowing real-time electronic fund transfers between banks.

© Goldilocks

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Resolution 1770 (2007) / adopted by the Security Council at its 5729th meeting, on 10 August 2007  |   United Nations Digital Library System

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Silver Daily Forecast and Technical Analysis for May 17, 2024, by Chris Lewis for FX Empire | Youtube

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The days of shorting the silver market are coming to an end.

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SEC Adopts Rule Amendments to Regulation S-P to Enhance Protection of Customer Information |  SEC

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Kraken ‘Actively Reviewing’ Tether’s Status Under New EU Rules | BloombergLaw

New regime for digital assets set to take effect in July

Tether says it plans to continue its dialog with regulators

Kraken is “actively reviewing” plans that may include removing support for the world’s most-traded cryptocurrency on its exchange in the European Union, under a new regime for digital assets that’s set to take effect in the bloc in July.

Tether Holdings Ltd.’s USDT, a stablecoin that aims to maintain a one-to-one value with the dollar, is expected to be impacted by upcoming EU rules known as MiCA.

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Standard Chartered completes first Euro transactions on Partior Platform – Trade Finance Global

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Eurosystem completes first DLT experiment - Central Banking

The Eurosystem completed its first experiment using distributed ledger technology (DLT), the European Central Bank (ECB) announced on May 14.

This is the first of three experiments the ECB plans to carry out. All three experiments will test interoperability-type solutions for central bank money settlement of wholesale financial transactions recorded on DLT platforms.

This experiment covered tokenization and simulated the deliver-versus-payment (DvP) settlement of government bonds in a secondary market transaction against central bank money.

The DLT platform for the experiment was provided by the National Bank of Austria. Other participants include the central banks of Germany, France, Italy and Luxembourg.

👆  Goldilocks pointed to this article

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Is Blockchain the Key to Transforming the Global Tourism Industry? |  Analytics Insight

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‘All UAE banks have to launch Jaywan debit cards’: Rollout to happen in phases - News | Khaleej Times

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 WATCH & LISTEN HERE Video on XRP

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They Are Dumping Our TREASURIES - The Economic Ninja | Youtube

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Miners Eye Middle East as Next Region for Growth | Coindesk

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Iraq Going for the International Investment Platform? | Youtube

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Join the Seeds of Wisdom Team SNL call with Freedom Fighter breaking down Goldilock's weekly posts!  Jester will be joining too!   SNL Call Link

9 pm EDT / 8 pm CDT / 6 pm PDT

The SNL Q & A room will be open at 8 pm ET, 7 pm CT, and 5 pm PT to ask questions that will be answered on the call!

The call will be recorded and you can find it in the Archive Call Room after the call is over.

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UNDP endorses Iraq’s electronic payment services system | Search4Dinar

Today, the United Nations Development Programme (UNDP) approved the electronic payment system in Iraq.

© Goldilocks

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Goldilocks' Comments and Global Economic News Friday Evening 5-17-24

Goldilocks' Comments and Global Economic News Friday Evening 5-17-24

Good Evening Dinar Recaps,

Iraq: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iraq  

Domestic stability has improved since the new government took office in October 2022. This has facilitated the passage of Iraq’s first three-year budget, which entailed a large fiscal expansion starting in 2023. The non-oil economy has rebounded strongly in 2023 after stalling in 2022 and was largely unaffected by the ongoing conflict in the region.

Nonetheless, Iraq remains highly vulnerable to oil price fluctuations, and private sector activity is hindered by the large state footprint—including as an employer of first resort—corruption, red tape, underdeveloped infrastructure, and poor access to credit.    IMF

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DTCC explores posting fund NAV data on blockchain with JPM, BNY Mellon, Chainlink - Ledger Insights

The Depository Trust and Clearing Corporation DTCC just made public the result of a proof of concept (PoC) test exploring the posting of tokenized funds by setting net asset values (NAV) data onto a blockchain.

In order to reach a real value on an asset, the value of an asset is reached by deducting the asset's liabilities from the market value of all of its shares. Then, you divide that number by the number of issued shares.

This is what happens in a reset when values across the board on the market have been inflated beyond their actual worth.

Until these calculations are completed across the board of the markets, it's hard to say we are going to have a crash or a rise in values of these new assets that are being tokenized and supported by gold and other commodities.

Forex will go into these equations as well finding representations of a real value for currencies giving them a Level Playing Field in the purchasing power of Global currencies around the world. This will give us a Global Currency Reset.

These correlated calculations will link themselves to the banking system causing the reformation of new values inside our new digital asset-based trading system.

This is the credit valuation adjustment we spoke of about a month ago that was going to start taking place. We are in the testing phase, but these assets will soon be interfaced onto the QFS reflecting new values in the new Financial System.

"The ten participants in the Smart NAV trial were American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JP Morgan, MFS Investment Management, Mid Atlantic Trust d/b/a American Trust Custody, State Street and U.S. Bank."      Ledger Insights
© Goldilocks

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CME Stock Exchange is planning to launch Bitcoin trading. This is currently in the discussion phase, but if it does go any further it will connect CME and the Swiss EBS.

The Chicago Mercantile Exchange is a global derivatives marketplace based in Chicago. The Swiss Electronic Bourse (EBS) is a "computer linking system between the former stock exchange trading floors in Zurich, Geneva, and Basel, Switzerland."

The connection would allow trades to be executed on all three of these trading floors onto Digital Ledger Technologies.

This is why it is so important to complete the MICA regulations. Currently, the integration at the full QFS is being set into motion.   Cryptonomist    Nasdaq  

© Goldilocks

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China Sells Record Sum of US Debt Amid Signs of Diversification | Finance Yahoo 

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Rep. Massie Introduces Federal Reserve Board Abolition Act to "End the Fed" | U.S. Representative Thomas Massie

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Trafigura, IXM caught in COMEX copper short squeeze as prices hit record | StreetInsider

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The state of play and what’s to come with CBDCs | London Blockchain Conference | Youtube

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Final Rules on Measuring Domestic Control of REITs | FTI

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Palo Alto Networks and IBM on Wednesday announced a significant partnership in which the two companies will jointly provide cybersecurity solutions, and IBM will deliver consulting services across Palo Alto’s platforms.

Palo Alto Networks is an American multinational cybersecurity company with headquarters in Santa Clara, California. The core product is a platform that includes advanced firewalls and cloud-based offerings that extend those firewalls to cover other aspects of security. The company serves over 70,000 organizations in over 150 countries, including 85 of the Fortune 100. It is home to the Unit 42 threat research team and hosts the Ignite cybersecurity conference. It is a partner organization of the World Economic Forum.   SecurityWeek   Wikipedia

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World Bank to issue Swiss digital bond settled in wholesale CBDC - Ledger Insights

Yesterday the World Bank announced it has priced a CHF 200 million digital bond to be issued on June 11 on the SIX Digital Exchange (SDX) and settled using the Swiss Franc wholesale central bank digital currency (wholesale CBDC).

The Swiss National Bank (SNB) is currently in pilot mode for its wholesale CBDC on the SDX DLT platform as part of Project Helvetia. Several digital bonds have used it for settlement. However, the World Bank, or rather the International Bank for Reconstruction and Development (IBRD), is the first international issuer to use the wCBDC. 

~~~~~~~~~

We are beginning to witness how Digital Ledger Technologies, Tokenized Assets, and Stablecoins are currently being tested and regulated to go into law by the end of June 2024.

Do you see how these three networks work together to complete the functionality of the QFS?

Once these functionalities are complete, we will move into credit valuation adjustments to determine real values going forward.

The system will be tweaked during this time as the rest of the world catches up and interfaces their assets onto the system.

© Goldilocks

~~~~~~~~~

Regulators Preparing to Finalize Basel IV | Insights | Mayer Brown

~~~~~~~~~

Visa Reinvents the Card, Unveils New Products for Digital Age | Visa

~~~~~~~~~

Press release: Basel Committee publishes report on the digitalisation of finance | BIS

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********************************

URGENT NEWS: Emergency Meeting on Iraq 2024 Budget #iqd  Rate in Budget | Youtube

~~~~~~~~~

The modern CEO job is completely broken — but AI could make executives useful again | Business Insider

~~~~~~~~~

Overview | World Bank

Iraq has a mixed economic system with some private freedom, but weak centralized economic planning and government regulation. The country's economy is dominated by oil exports, which serve as the basis of its GDP. Successive governments have done little to wean Iraq off this heavy dependency on oil rents and diversify the economy. 

However, non-oil growth has rebounded strongly in 2023, while inflation has receded. The World Bank has highlighted the importance of banking reforms and promoting digital financial services to increase financial intermediation and promote financial inclusion. 

The Iraq Vision 2030 plan includes diversifying the economy, reducing dependence on oil, promoting innovation, supporting SMEs, and attracting foreign investment. The plan also promotes sectors such as agriculture, tourism, manufacturing, and technology. 

~~~~~~~~~

How Gold Affects Currencies | Investopedia

Gold can add value to a country's currency. Gold is used as a standard of value for currencies worldwide, and the price of gold can influence a country's currency value. For example, if a country exports gold, the value of its currency will increase when gold prices increase.

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BIS DROPS A BOMBSHELL! They Referenced Ripple/XRP On Their Panel!  You Will Regret Not Owning XRP! | Youtube

~~~~~~~~~

14 Fireside chat - Technological innovation to enhance existing infrastructures | Youtube

~~~~~~~~~

Follow Goldilocks' Roadmap

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Thank you Dinar Recaps

Goldilocks' Comments and Global Economic News Thursday Evening 5-16-24

Goldilocks' Comments and Global Economic News Thursday Evening 5-16-24

Good evening Dinar Recaps,

Wirex chooses OpenPayd to launch embedded accounts across UK and EEA | PRN Newswire

"The partnership between the two entities aims to provide named virtual IBANs to Wirex customers across the UK and European Economic Area (EEA), aligning with Wirex's mission to offer secure payment methods to its customers.

Under this partnership, OpenPayd will issue virtual IBANs to Wirex customers in over 30 countries across the UK and EEA. These customers will gain access to the Faster Payments network in the UK and Single Euro Payments Area (SEPA) Instant payments for Euro-denominated deposits and withdrawals."

This service will be interfaced into Wirex's infrastructure using OpenPayd's single API.

Banking API is the process of integrating banking functions to a web service. It will decentralize the banking system inside the new QFS. This unique feature will allow access to third-party companies.

Wirex customers will get unique IBANs. IBAN is an International Bank Account Number. It will facilitate transfers of EUR and GBP between Wirex and bank accounts.

OpenPayd's SEPA Instant Payments transactions will occur in real-time. Here we go. The beginning stages of instant payments.    PRN Newswire

© Goldilocks

~~~~~~~~~

The integration of Digital Payment Systems, Digital Ledger Technology, and Digital Payment Sources are all in process of being interfaced onto the QFS.

The new rules and regulations to govern them are in process of becoming law by the end of June.

Europe will begin the Global Reset. It will be up to the rest of the world to follow the Regulations they are building at the present time.

The rest of the world will build around these new Banking and Market guidelines. It is a process that begins the end of June 2024.

© Goldilocks

~~~~~~~~~

The Gold Iraqi Dinar | The Economic Ninja | Youtube

~~~~~~~~~

Iraq maintains its 30th rank with the largest gold reserves | Iraqi News

"Iraq's central bank, the Central Bank of Iraq (CBI), has been buying gold since 2022 to diversify its foreign assets."

Every time Iraq buys more gold. They are adding more value to the net worth of their currency.

"When gold is set free, so are we."

© Goldilocks

~~~~~~~~~

"Due diligence procedures in inquiring about customers of exchange companies category (A, B) and brokerage companies that buy and sell foreign currencies."

Brokerage companies that buy and sell foreign currencies with Iraq and their new registered A&B categorization of the Iraqi Dinar have been given due diligence procedures.

Due diligence procedures include information gathered about the clients who are participating in an exchange.   It includes background checks, risk assessments, and more.  CBI   Investopedia   Signicat

© Goldilocks

~~~~~~~~~

Mastercard executes first tokenized deposit transactions with StanChart subsidiaries - Ledger Insights 

Mastercard has executed its first live test of the Mastercard Multi-Token Network

() (MTN) involving tokenized deposits and tokenized assets in collaboration with Standard Chartered Bank Hong Kong (SCBHK) and subsidiaries. Mastercard introduced MTN in mid-2023.

This proof of concept was completed as part of the Hong Kong Fintech Supervisory Sandbox. It involved a client of Standard Chartered’s Hong Kong digital bank, Mox Bank, buying a carbon credit.

 Mox requested SCBHK to tokenize the carbon credit, a task executed by Libeara, the tokenization platform incubated by Standard Chartered’s SC Ventures. Mastercard’s MTN was used to tokenize the deposit and execute an atomic swap between the tokenized deposit and the carbon credit. Ultimately the Mox client received the tokenized carbon credit in their wallet.

~~~~~~~~~

Financial Services and Markets Act 2022 | Monetary Authority of Singapore

~~~~~~~~~

Escobar: De-Dollarization Bombshell - The Coming Of BRICS+ Decentralized Monetary Ecosystem | ZeroHedge

~~~~~~~~~

BIS’ Project Agorá Opens to Private Sector for Tokenised Cross-Border Payments | Fintech Singapore

Project Agorá, an initiative by the Bank for International Settlements (BIS) alongside major central banks and the Institute of International Finance (IIF), is moving forward and inviting private sector involvement.

The project aims to explore how tokenization can improve wholesale cross-border payments. Private sector financial institutions are encouraged to apply for participation in Project Agorá and the application window is open until 31 May 2024.

Project Agorá involves seven central banks, including the Bank of France (Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England, and the Federal Reserve Bank of New York.

The initiative will build on the unified ledger concept proposed by BIS, aiming to integrate tokenized commercial bank deposits with tokenized wholesale central bank money.

~~~~~~~~~

The Rise of Tokenised Economy: Unified Ledger, RLN, RSN & More..| Linkedin

In simple terms, a unified ledger could be considered a “common venue” where money and other tokenized objects come together to enable seamless integration of transactions and open the door to entirely new types of economic arrangement.   3 days ago

EU wholesale DLT settlement trials start - Ledger Insights - blockchain for enterprise | Ledger Insights 

Yesterday, the Oesterreichische Nationalbank participated in the first trial of wholesale DLT settlement transactions as part of the Eurosystem experiments.

As reported last month,  16 institutions were onboarded to participate in the first wave of DLT trials, which use real central bank money. In addition, there are experiments involving simulations.

The Oesterreichische National bank example was a simulation involving the tokenization and simulated settlement of government bonds against central bank money – a delivery versus payment (DvP) transaction.

The ECB says upcoming trials and experiments will include
DvP transactions in primary and secondary markets securities lifecycle management automated wholesale payments, and payment-versus-payment transactions.

~~~~~~~~~

Ripple’s Latest Move Bolsters It As A Digital Asset Custody Provider | Mitrade

Ripple is transitioning into a full-service digital asset custody provider, following its acquisition of Metaco, a Swiss-based leader in the sector, for $250 million in May 2023. This development represents a significant expansion of the fintech’s capabilities into the institutional crypto custody market—a segment that is expected to experience substantial growth over the next decade.

~~~~~~~~~

Bankster Boss Christine Lagarde Reveals Plan for Europe’s GREAT RESET | Awake in 3D

“A hotter climate and the degradation of natural capital are forcing change in our economy and financial system. We must understand and keep up with this change to continue to fulfill our mandate.”
Christine Lagarde, President European Central Bank

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I hope the above information gives you a more detailed understanding of what is taking place this month.

~~~~~~~~~

JUST IN: 🇺🇸 Senator Cynthia Lummis calls for Senate approval on bill allowing highly regulated financial firms to hold Bitcoin and crypto.   https://t.me/c/1545617426/78718

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DTCC, Chainlink Complete Pilot to Accelerate Fund Tokenization with JPMorgan, Templeton, BNY Mellon Participating | Coindesk

The Depository Trust and Clearing Corporation (DTCC), the world’s largest securities settlement system, completed a pilot project with blockchain oracle Chainlink (LINK) and multiple major U.S. financial institutions, aiming to help accelerate the tokenization of funds, according to a Thursday report published by DTCC.

~~~~~~~~~

Find information in faster & easier ways with AI Overviews in Google Search - Google Search Help

AI Overview
Learn more…  Opens in new tab
Yes, due diligence is part of a foreign currency exchange. The Bank Secrecy Act (BSA) regulatory requirements for due diligence programs for foreign financial institutions include detecting and reporting money laundering and any potential suspicious activity. 

The goal of section 312 of the USA PATRIOT Act is to help prevent money laundering through accounts that give foreign financial institutions a base for moving funds through the U.S. financial system. U.S. financial institutions covered by the final rule must establish a due diligence program that includes appropriate, specific, risks.

~~~~~~~~~   

Iraq repays IMF loans in full | Search 4 Dinar

~~~~~~~~~

U.S. Senate Votes to Kill SEC's Crypto Accounting Policy, Testing Biden's Veto Threat | Coindesk

~~~~~~~~~

Follow Goldilocks' Roadmap

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Goldilocks' Telegram Room

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Thank you Dinar Recaps

Goldilocks' Comments and Global Economic News Wednesday Evening 5-15-24

Goldilocks' Comments and Global Economic News Wednesday Evening 5-15-24

Good Evening Dinar Recaps,

"The European Securities and Markets Authority (ESMA) recently revealed that four applications are pending. One of those is from Germany’s 21X (https://www.21x.eu/), the only one of the quartet that has applied for a DLT trading and settlement systems (DLT TSS) license.

If approved, this would allow it to both operate a secondary market (DLT MTF) and run the settlement systems (DLT SS). We were the first DLT TSS applicant in Europe. We do have a first mover advantage that we are hoping to realize,” 21X CEO Max Heinzle told Ledger Insights."

A secondary market allows investors and traders the ability to exchange with each other when a primary Market adds an item for sale. Securities can be directly traded between two entities without having to go through the primary issuer.

This allows the actual price of an item to be driven by supply and demand. An actual value begins to surface over several trades.

It is a system that allows large and small traders to invest in Market transactions such as stock markets and over-the-counter markets.

Foreign currency exchanges are traded on the secondary Market. Examples of stock markets (or secondary markets) include:

* the NYSE and Nasdaq in the U.S.
* the London Stock Exchange
* the Hong Kong Stock Exchange
* the Bombay Stock Exchange
* the Frankfurt Stock Exchange

(https://www.ledgerinsights.com/esma-explains-why-dlt-pilot-regime-hasnt-taken-off/) 
When Stablecoins and Tokenized Assets become law on June 30th, 2024, we will have a Digital Ledger System capable of recording these transactions going forward.  Germany’s 21X (https://www.21x.eu/),  

 Ledger Insights    Investopedia 1   Banking Frontiers   Soft Serve Inc    Investopedia 2

© Goldilocks

~~~~~~~~~

"Deutsche Bank today announced it has joined the Monetary Authority of Singapore’s (MAS) Project Guardian (as part of the asset and wealth management workstream). The collaborative initiative is dedicated to testing the feasibility of asset tokenization applications in regulated financial markets.

Project Guardian is a multi-year project involving global policymakers (including the United Kingdom’s FCA, Switzerland’s FINMA, and Japan’s FSA) and financial services industry representatives.

As part of the asset and wealth management workstream, the bank will test an open architecture and interoperable blockchain platform to service tokenized and digital funds. It will then propose protocol standards and identify best practice to contribute to industry progress."

The Deutsche Bank connects to all banks around the world, and their proposed "protocol standards" from this project test will move us towards Global unification inside the new digital asset economy.   Deutsche Bank   The Block   Fintech Futures

© Goldilocks

~~~~~~~~~

The Monetary Authority of Singapore is finalizing their rules for their new over-the-counter derivatives reporting regimen.

These final regulations come into operation on October 21, 2024. It will introduce the Unified Payments Interface, Unique Transaction Identifier or swaps transaction identifier, cardholder data environment, and ISO 20022 in reporting.

These new developments just so happen to be taking place in the same month of the next BRICS summit.   Exchange Protocols and Regulations are clearly being interfaced onto the QFS during this time. Traction Fintech   DowJones

© Goldilocks

~~~~~~~~~

How Trading Works on OTC Markets | Youtube

~~~~~~~~~

What are Secondary Markets? | Youtube

~~~~~~~~~

Philippines Central Bank Launches Peso-Linked Stablecoin Trials | Bitrue FAQ

Philippines Stablecoin Announcement:

The Philippines will now test a peso-backed stablecoin in payments, trading, hedging, and DeFi applications.

~~~~~~~~~

Finastra certifies multiple solutions for ISO 20022 compliance | The Paypers

Tuesday 14 May 2024 15:05 CET | News

Global provider of financial software applications Finastra has announced the completion of testing and certification for ISO 20022.  (https://thepaypers.com/search/index.aspx?search=Finastra) 
 
This achievement positions Finastra as one of the early vendors in the industry to complete the certification process for multiple solutions. The certification pertains to four of Finastra’s payment processing solutions, allowing financial institutions across the United States to enhance their innovation capabilities. 

The certified solutions include Payments To Go, Global PAYplus, PAYplus USA, and PAYplus Connect, offering a range of options for financial institutions to comply with ISO 20022 standards for FedWire. Financial institutions are required to conduct their own testing to meet ISO 20022 compliance standards by the end of 2024, emphasizing the importance of selecting a suitable payment processor with the necessary technology.

👆  Goldilocks pointed to this article

~~~~~~~~~

Digital ID Regulations Start THIS MONTH mandatory by 2026. | TheNationalPulse

The Digital Identity Regulation (eIDAS 2.0), the European Union’s latest set of digital ID rules, will take effect on May 20. Big Tech firms and EU member nations must now comply in supporting the EU Digital Identity (EUDI) Wallet, though work on the project remains ongoing, with pilot programs scheduled for 2025.

According to recently published standards by the European Council, the EUDI Wallet must be fully implemented across the continent by 2026. Initial usage will encompass scenarios such as accessing government services and age verification.

~~~~~~~~~

Financial Services and Markets Act Announcement:

Singapore has commenced its second phase of implementing the Financial Services and Markets Act (FSMA). The Act was passed into law in April 2022 to give the Monetary Authority of Singapore (MAS) additional powers to address misconduct, technology, and virtual asset risks.   20 hours ago

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Andrei Belousov: The Economist in Charge of Russia’s Army | The Moscow Times

n economist and technocrat with no military background, Russia's new Defense Minister Andrei Belousov has been tasked with deploying his number-crunching skills and bureaucratic oversight to secure Russian victory against Ukraine.

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China considers local government purchases of unsold homes, Bloomberg News says | Yahoo News

~~~~~~~~~

Government Acquisition, Regulation of Private Property. Initiative Constitutional Amendment. |  LAO CA Gov

~~~~~~~~~

The Unseen Battles in Iraq USD IQD Ex Rate Value Up | Youtube

~~~~~~~~~

Silver Price Hasn't Done This In Over A Decade ($30 BREAKOUT Imminent) | Youtube

~~~~~~~~~

Yesterday, the Oesterreichische National Bank participated in the first trial of wholesale DLT settlement transactions as part of the Eurosystem experiments. As reported last month, 16 institutions (https://www.ledgerinsights.com/ecb-wholesale-dlt-trials-first-participants/) were onboarded to participate in the first wave of DLT trials, which use real central bank money. In addition, there are experiments involving simulations.   LedgerInsights

~~~~~~~~~

09 May 2024 (BIS):
BIS added 37 entities to the Entity List under the destination of the PRC for the following reasons:

Supporting the High Altitude Ballon that overflew the United States in February 2023;
Having connections to companies that provided such support;
Acquiring and attempting to acquire U.S.-origin items, applicable to unmanned aerial vehicles, to be used by Chinese military entities;
Being involved in the shipment of controlled items to Russia since its invasion of Ukraine in February 2022;
Acquiring and attempting to acquire U.S.-origin items in support of advancing China’s quantum technology capabilities; and Being involved in advancing China's nuclear program development. https://overruled.com/china/

~~~~~~~~~

The essential metals for humans: a brief overview - PubMed

~~~~~~~~~

S&P Global Rankings Urges Asset Managers To Embrace Tokenization | TheDefiant

~~~~~~~~~

The DCSA Digital Trade initiative was designed to facilitate universal acceptance and adoption of a standards-based electronic Bill of Lading, applicable to both original Bill of Ladings and Seaway Bills. 

Using open source Application Programming Interfaces (APIs), DCSA BL standard enables straight-through processing of BL data, eliminating paper and manual intervention from BL processes.

Standardised digitalisation of BL data and processes will help create a more secure, agile and sustainable supply chain ecosystem. DCSA is also working closely with eBL solution providers on technical and legal interoperability to enable seamless digital transfer of original BLs across different platforms and stakeholders, which will facilitate the global uptake of BL standards.  DCSA

~~~~~~~~~

Follow Goldilocks' Roadmap

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Thank you Dinar Recaps

Goldilocks' Comments and Global Economic News Tuesday Evening 5-14-24

Goldilocks' Comments and Global Economic News Tuesday Evening 5-14-24

Good Evening Dinar Recaps,

Prudential treatment of cryptoasset exposures | BIS

"The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 13 May 2024."

During this meeting, they set up a new Basel 3 standard timeline for crypto asset implementation.

The new timeline was moved from January 1st, 2025 to January 1st, 2026. It is expected that 2/3s of our crypto assets will be done by the end of this year.

The committee wanted to reiterate that the expectation is for these crypto assets to be implemented into Basel 3 "as soon as possible."

It is important to know that the bank's exposure to tokenized traditional assets, stablecoins, and unbacked cryptoassets is still set for January 1st, 2025.

It is the crypto assets standards that will continue on until January 1st, 2026.   BIS

© Goldilocks

~~~~~~~~~

"UAE: Liv Digital Bank enters tokenization deal targeting Gen Zs" | CoinGeek

We are moving at a rapid pace at this point in the tokenization of our assets around the world.

You are going to notice the word digital added to many banking titles and companies going forward. Old traditional assets have been reformed into digital assets.

Hong Kong is leading the way in the digital asset transformation, and the innovation of our new banking system on a global scale is in its final stages there.

Hong Kong is presently finishing up many of their pilot programs, and their movement forward will lead our way into the new digital age.

© Goldilocks

~~~~~~~~~

Franklin Templeton CEO: All Investment Funds Going Blockchain | Crypto Times

"Jenny Johnson, CEO of the $1.6 trillion asset management giant Franklin Templeton, stated that all exchange-traded funds (ETFs) and mutual funds will eventually migrate to blockchain technology."

I know we have gone over this several times, but this gives you an idea of how much money is transferred into blockchain technology. 

This is just one of many companies that are doing the same as we speak.

Institutional money and institutional integration are beginning to take place on the blockchain at larger magnitudes indicating that the new digital economy is moving towards mass adoption.

© Goldilocks

~~~~~~~~~

U.S. banks undertake blockchain experiment | Investment Executive

"The U.S. financial sector is exploring the idea of tokenizing various financial instruments, including U.S. Treasuries, wholesale central bank money, and commercial bank money, which would enable transactions in these instruments to settle on a single shared ledger.

Currently, transactions in various components of the wholesale financial system all take place on separate systems. A new project will examine the concept of tokenizing these instruments to facilitate settlement on a single platform, under existing legal frameworks.

SIFMA is serving as project manager, with participation from several large financial institutions including Citi, J.P. Morgan, Mastercard, Swift, TD Bank N.A., U.S. Bank, USDF, Wells Fargo, Visa, and Zions Bancorp.

Other project contributors include the Bank of New York Mellon, Broadridge, DTCC, the International Swaps and Derivatives Association, Tassat Group, and the MITRE Corp"

I want to point out that this article is sharing with us how this new experiment is being conducted on the Swift System and the new Digital Ledger Transmission System (DLT) Ledger.

This indicates that the movement of foreign currency exchange services is transitioning from wire services that can take days for transmissions to occur to electronic exchange services that are done in a matter of seconds and far more cost-efficient.

This is what my banker friend was referring to yesterday as to why her friend was going through foreign exchange services training.

© Goldilocks

~~~~~~~~~

Tokenizing assets on a scalable blockchain | Naeem Aslam, Antonino Sardegno, Stas Trock | Youtube

~~~~~~~~~

Swarm Markets (SMT) Price Today, News & Live Chart | Forbes Crypto Market Data

~~~~~~~~~

READ HERE:

...by the Securities and Exchange Commission
H.J. Res. 109 would invalidate SEC Staff Accounting Bulletin 121 (SAB 121), which reflects considered SEC staff views regarding the accounting obligations of certain firms that safeguard crypto-assets.   6 days ago

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SEC issues SAB 121 on digital asset custodial obligations | KPMG

~~~~~~~~~

👆The US is still working on who has governing power over these digital assets. This is why many Governments are moving ahead of the United States in the mobilization of the new digital economy.

This is why the MICA regulations are so important for us to finish. It will give more clarity and government power to authentic leaders in government to facilitate the movement of our new digital economy.  House Financial Services

© Goldilocks

~~~~~~~~~

US Department of Treasury, Pacific Northwest National Laboratory, and Cloudflare Partner to Share Early Warning Threat  | CoudFlare

San Francisco, CA, May 9, 2024 – Cloudflare, Inc (NYSE: NET), the leading connectivity cloud company, today announced a partnership with the United States Department of Treasury and Pacific Northwest National Laboratory (PNNL) under the Department of Energy to improve the cyber resilience of the financial services industry by sharing an advanced threat intelligence feed through Cloudflare. With this new offering, financial services institutions that are using Cloudflare Gateway now have privileged access to Custom Indicator Feeds that share threat indicators and enable direct action to be taken, to better defend against ransomware, phishing, and other threats.

~~~~~~~~~

Ranking Member Waters Statement on Resolution to Overturn SEC’s Guidance on Crypto Assets: H.J. Res. 109 “Would Have Broad and Negative Consequences for All Public Companies and Their Investors, with Implications for the Entire Securities Market, Not Just Crypto.” | U.S. House Committee on Financial Services Democrats

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May 9, 2024
Tokenized Real-World Assets: Pathways to SEC Registration

By: Ryan Mitteness, Ryan M. McRobert, Andrew T. Albertson

What You Need to Know

Global demand for Tokenized Real-World Assets (RWAs) is growing rapidly in the decentralized finance (DeFi) community and traditional finance industry.

Tokenized RWAs allow legal ownership or rights to traditionally illiquid assets to be digitalized and traded on digital platforms, leading to expedited settlements and potentially reduced operating costs.

Regulatory hurdles have slowed adoption in U.S. markets where companies have to navigate existing securities laws and often lengthy review processes by the Securities Exchange Commission (SEC).

While a clear preferred registration pathway through the SEC for tokenized RWAs has yet to emerge, there are various potential approaches issuers of RWAs may explore for broadly marketed offerings in the United States.   Fenwick 

~~~~~~~~~

ETFs and mutual funds are all going to be on blockchain, says Franklin Templeton CEO - Ledger Insights - blockchain for enterprise | LedgerInsights

~~~~~~~~~

Thank you everyone for your participation in this room. I thought I would give you an idea of the statistics that actually take place in this room. This is the current total.

It is important to note that almost 50% of the people in this room actually come to it every day. This is very rare due to the fact that most people join rooms and then move on to others.

What you are looking at above is an active room where people realize and know that the information being shared is important, and I take this room and the lives of the people within it as an important piece instilled within my heart of prayer each and every day as I write to support and encourage all of us to move forward in faith, hope, and love.

© Goldilocks

~~~~~~~~~

ECB conducts first DLT trials for wholesale central bank money settlement | FinExtra

~~~~~~~~~

Report on OTC derivatives data reporting and aggregation requirements   

READ HERE: 

The final regulations come into operation on 21 October 2024, introducing the UPI, UTI, CDE and ISO 20022 in reporting.10 hours ago

~~~~~~~~~

Miami Federal Court Orders Multiple Individuals and Entities to Pay Over  $225 Million for Foreign Currency Fraud and Misappropriation Scheme | CFTC

~~~~~~~~~

May 14, 2024

Washington, D.C. — The Commodity Futures Trading Commission today announced the Honorable Darrin P. Gayles of the U.S. District Court for the Southern District of Florida issued an order of default judgment against four individuals and five companies (nine defendants): Jase Davis of Brandon, Mississippi; Borys Konovalenko of Ukraine; Anna Shymko of Duluth, Georgia; Alla Skala of Grand Island, New York and/or Fort Erie, Canada; Easy Com LLC d/b/a ROFX, a New Hampshire LLC; Global E-Advantages LLC a/k/a Kickmagic LLC d/b/a ROFX, a Delaware LLC and New York foreign LLC; Grovee LLC d/b/a ROFX, a Delaware LLC; Notus LLC d/b/a ROFX, a dissolved Colorado LLC; and Shopostar LLC d/b/a ROFX, a Colorado LLC.

The default judgment order stems from the CFTC’s August 31, 2022 amended complaint charging the nine defendants and defendant Timothy F. Stubbs with fraud, misappropriation, and registration violations in connection with a fraudulent foreign currency (forex) scheme. [See CFTC Press Release Nos. 8486-22  and 8790-23]

~~~~~~~~~

DTCC Comments on Industry’s Affirmation Progress | DTCC

~~~~~~~~~

H.R.4766 - 118th Congress (2023-2024): Clarity for Payment Stablecoins Act of 2023 | Congress Gov

~~~~~~~~~

Using MRI, engineers have found a way to detect light deep in the brain | MIT News | Massachusetts Institute of Technology

~~~~~~~~~

Follow Goldilocks' Roadmap

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Subscribe to Newsletter

Thank you Dinar Recaps

Goldilocks' Comments and Global Economic News Monday Evening 5-13-24

Goldilocks' Comments and Global Economic News Monday Evening 5-13-24

Good Evening Dinar Recaps,

"The End Of The World Order And The Rise Of Trade Regulation"

Throughout the world, the US has been in process of signing Free Trade Agreements with countries.

These FTAs eliminate barriers to trade significantly. This includes tariffs, improving intellectual property rights, and more.

In addition, they improve laws protecting intellectual property rights, open up government procurement opportunities, and easing investment rules.

The world of trade between countries are changing rapidly at this point. These new trade agreements require credit valuation adjustments across the board including foreign currency exchange rates.  Mondaq   Trade   Cornell Law

WATCH THE WATER.

© Goldilocks.

~~~~~~~~~*

"The network value-to-transaction ratio, or NVT ratio, is a proposed approach that is determined by dividing the market capitalization of a digital asset by the transaction value during a certain time period. These are the important metrics that help in the valuation of digital assets."

The above information is exactly what will begin happening at some level when our new regulated digital assets become law on June 30th.

We will go through a process of credit valuation adjustments based on demands for their use and corresponding underlying assets that support what used to stand alone in the traditional markets.

Backing traditional assets with gold and other commodities will change the way we look at the price of these assets going forward.

During this time, we can expect to see caps on gold released for many of these new digital assets to find a real value as we approach January 1st, 2025.

The first of next year is when the expectation for Basel 3 compliant measures to be fully complete. At that time, solid rates will become possible for many of the assets a trader will hold.

Price fluctuations across the board between now and then are expected including Forex. Our markets will be in process of finding real values.  Eqvista   MoodysAnalytics

© Goldilocks
~~~~~~~~~

Crypto Regulations Act update for the US:

"Today, the House Committee on Rules publicly noticed its intent to consider the Financial Innovation and Technology for the 21st Century (FIT21) Act, clearing a pathway for a floor vote later this month.

The FIT for the 21st Century Act is an important first step towards achieving regulatory clarity for digital assets. FIT21 provides the robust, time-tested consumer protections and regulatory certainty necessary to allow the digital asset ecosystem to flourish in the United States."

After this vote, you can expect movement towards the Senate to come soon after in order to meet those deadlines for June 30th, 2024 for the European Union.

China is already in the regulatory process, and expected to coordinate with a global efforts of Europe and the US.  House Financial Services   DailyCryptoNews

© Goldilocks

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Global Banking Announcement:

This is a note to follow up on the banker who went into foreign currency exchange training last week.

The banks now have the capability to send wires in every currency around the world with the exception of the Iraqi dinar.

There will be much faster settlement times utilizing a country's own currencies for the exchange.

This makes sense to me due to the fact that Dee and I have been told that the IQD would not float. It will be given a revalued rate.  

What is important to take from this piece of Intel is, for this Bank, these new procedures began today.

This does not mean that all Banks have started these protocols yet, but it does mean that expectations are high that they begin.

© Goldilocks

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"Navigating the New Frontier: Updates to Federal Onshore Oil and Gas Leasing Rules and Regulations" | JD Supra

These new rules and regulations for the oil sector have reached their final stages. And now, the transition into the energy sector of our markets that includes solar power and electric cars will proceed.

© Goldilocks

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SAN FRANCISCO, May 9, 2024 — WisdomTree Prime Launches to 41 States, Leveraging Stellar Network for Enhanced Digital Asset Services | Crypto News

WisdomTree, a notable asset management firm, has launched its innovative financial app, WisdomTree Prime, to cover 75% of the U.S. population across 41 states despite shareholder wishes.

This strategic extension is powered by the Stellar Development Foundation, which supports the app’s robust digital asset services. (https://www.crypto-news.net/tokenization-government-money-fund/) 

WisdomTree has integrated Stellar’s efficient transaction platform to power WisdomTree Prime, aligning with its goal to streamline financial operations for its users.

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WisdomTree Digital Trust Company, LLC. |  Wisdom Tree Inc

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ASEAN - The key Player in the Indo-Pacific Region - Indian Defence Review

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Dow Gold Ratio: Stocks vs Gold Charts | SD Bullion

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Hong Kong and Saudi Arabia Consider Establishing ETF - Claps

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Alternative Trading Systems (ATSs) | Investor Gov

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Zimbabwe set to be invited to join BRICS | The Zimbabwe Mail 

👆  Goldilocks pointed to this article

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Currently, indications are pointing at Zimbabwe, together with Argentina and Saudi Arabia, being officially announced as new members of the NDB at the BRICS summit to be held in South Africa this August. |  Herald

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Institutions Coming In! Pivotal Moment For XRP! | Youtube

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RIPPLE VS. SEC

Tomorrow on May 13th:

Parties and any third parties file omnibus letter motions and also file proposed redactions to such materials!

As @attorneyjeremy1 said: We‘re just waiting for the judge now!  #Ripple   Twitter

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BREAKING NEWS Iraq at Odds w/OPEC Over Oil Production Cuts | Youtube

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When You Put Money in the Bank annnddd It's Gone - SOUTH PARK | Youtube

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Crash Landing Ahead? Fed May Cut Rates but We’ve Run Out of Time | Youtube

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The Gold Team Breaking down Goldilocks. Their backgrounds is why Goldilocks gave them all the Gold Seal of approval.   Goldilocks QFS   Goldilocks Q A   Saturday Night Live Call

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The Association of Private Banks praises the direction of the Iraqi Central Bank to establish digital banks | Search 4 Dinar

Economy News – Baghdad

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, praised the Central Bank’s direction to establish digital banks to keep pace with the great development in the global banking sector.

In an interview with “Economy News”, Tariq said that “the world is moving towards digitizing banking services, and Iraq has started its first steps in establishing digital banks, as so far there is a licensed digital bank inside Iraq, and provides its services naturally to the public.”

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Why is Crude oil price crashing? | Youtube

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Nebraska Becomes 12th State to End Taxes on Gold and Silver Sales

Nebraska Becomes 12th State to End Taxes on Gold and Silver Sales

Sunday, 12 May 2024, 21:50 PM

Executive Director of the Sound Money Defense League   5/8/2024

With Gov. Jim Pillen’s recent signature, Nebraska has become the 12th state to end capital gains taxes on sales of gold and silver.

LB 1317 is the fourth major sound money bill to become law this year, as state lawmakers across the nation scramble to protect the public from the ravages of inflation and runaway federal debt.

Under the new Nebraska law, any “gains” or “losses” on precious metal sales reported on federal income tax returns are backed out, thereby removing them from the calculation of a Nebraska taxpayer’s adjusted gross income (AGI).

Supported by the Sound Money Defense League, Money Metals Exchange, and in-state advocates, Nebraska’s sound money measure passed out of the unicameral legislature’s Revenue committee unanimously before being amended into a larger bill.

Sponsor Sen. Ben Hansen said upon news of the formal enactment of his legislation:

Gold and silver are the only forms of currency mentioned in our Constitution and with that comes the people’s ability to use it as such without penalty from the government. Saving, and using, gold and silver is our right and one of the only checks and balances to our federal government’s unending devaluation of our paper currency.

Taxpayers often realize ‘gains’ when converting the monetary metals back into Federal Reserve notes even though the ‘gains’ do not reflect an increase in real value but rather reflect the currency’s ongoing devaluation.Despite the lack of “real” gains, the Internal Revenue Service imposes capital gains taxes on such transactions. Nebraska has now opted out at the state level, declining to carry the IRS’s position into the definition of Nebraska income.

Jp Cortez, executive director of the Sound Money Defense League, explained during his testimony before the Revenue Committee that the ferocious wave of inflation facing Nebraskans is largely caused by harmful actions of the Federal Reserve: The state can take a different course and provide Nebraska citizens cleaner access to gold and silver ownership – and these metals are not only a proven inflation hedge but states all over the country are remonetizing constitutional sound money in the form of gold and silver.

Eleven other states already do not charge an income tax on sales of precious metals, with Arkansas, Arizona, and Utah recently enacting such laws. Meanwhile, Iowa, Georgia, Oklahoma, Missouri, West Virginia, and Kansas have been considering similar legislation in 2024.

“Investments in precious metals coins and bullion in Nebraska are now rightly exempt from both sales tax and income tax,” said Stefan Gleason, CEO of Money Metals and Chairman of the Sound Money Defense League.

Neutralizing Nebraska’s income tax treatment of the monetary metals removes significant disincentives in the Cornhusker State against the ownership and use of the monetary metals.

Meanwhile, LB 1317 revises the state’s formal definition of money by adding language that states: “Money does not include central bank digital currency.”

The new law defines central bank digital currency as “a digital medium of exchange, token, or monetary unit of account issued by the United States Federal Reserve System or any analogous federal agency that is made directly available to the consumer by such federal entities. Central bank digital currency (CBDC) includes a digital medium of exchange, token, or monetary unit of account so issued that is processed or validated directly by such federal entities.”

Sen. Hansen said: “I believe we have to be extra vigilant in our assessment and application of a Central bank digital currency to make sure they do not become a danger to our freedom. That’s why we defined in LB 1317 that CBDC’s are not classified as currency in Nebraska, which should help protect against unwarranted mandates for their use in the future.”

Versions of this “anti-CBDC language” have advanced or signed into law in Tennessee, North Carolina, and Florida, South Dakota, and Indiana . Congressman Alex Mooney has also introduced a federal measure to block the Federal Reserve’s digital currency scheme.

In his testimony, Cortez discussed the potential risks of adopting a CBDC, including creating a greater ability to track all financial transactions, disallowing certain types of purchases, or even completely “turning off” a targeted individual’s access to money.

Nebraska joins Utah, Wisconsin, and Kentucky as states to have enacted pro-sound money legislation into law so far in 2024.

Currently ranked 22nd in the 2024 Sound Money Index, Nebraska’s ranking is expected to rise.

https://dinarchronicles.com/2024/05/12/nebraska-becomes-12th-state-to-end-taxes-on-gold-and-silver-sales/

Goldilocks' Comments and Global Economic News Monday AM 5-13-24

Goldilocks' Comments and Global Economic News Monday AM 5-13-24

Good Morning Dinar Recaps,

The link below provides information on Vietnam's review by the US Department of Commerce regarding Vietnam's ability to move into a Market Economy.

My understanding from the previous article on Vietnam reviewed is that this is not a graded review. It is simply a valuation of the types of goods and services they can provide comprehensively.

Vietnam is showing steady growth in several areas of their Market. Their potential to increase National Capital Investment opportunities on a Global scale is evident.

Clearly, hurdles are being cleared for Vietnam to move into a Market Economy. A Market Economy will allow them to freely move their money  through supply and demand.

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Credit Valuation Adjustments on their currency will be determined by Vietnam's ability to move their goods and services near and far at competitive rates.

© Goldilocks

https://vietnamnet.vn/en/vietnam-business-news-may-12-2024-2279536.html

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Vietnam's Foreign Exchange Rate Review:

HCMC (Saigon) inspects authorized foreign exchange agents.

The State Bank of Vietnam-Ho Chi Minh City Branch (SBV-HCMC) has urged commercial banks to conduct inspections of their authorized foreign exchange agents and submit reports on the findings to the SBV-HCMC no later than June 15, 2024.

The SBV-HCMC has issued a letter requesting commercial banks and branches of foreign banks authorized to engage in foreign exchange activities within the city to conduct inspections of the authorized foreign exchange agents appointed by commercial banks.

Accordingly, commercial banks are required to inspect their authorized foreign exchange agents, covering compliance with legal regulations, adherence to foreign exchange agency contracts, identification of any existing limitations or misconduct, and the outcomes of any corrective actions taken.

The SBV has urged commercial banks to conduct these inspections on authorized foreign exchange agents appointed by banks to ensure compliance with regulations governing foreign currency transactions and the appropriate use of foreign currency, thus contributing to promoting the development of production and business activities, import-export, tourism, and services.

Simultaneously, commercial banks authorized to delegate foreign exchange agents must strictly adhere to all legal regulations regarding the delegation of authority to economic organizations to ensure that the appointed agents comply with legal requirements, adhere to contracts, and play a crucial role in stabilizing foreign exchange rates, the foreign exchange market, and socio-economic development.

VietnamNet

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Peter Schiff: Gold, Silver 'Ready to Explode Higher' — Sees 'Biggest Precious Metals Bull Market in History' – Markets and Prices Bitcoin News

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US Scrutiny of Tether Could Disrupt Crypto Ecosystem, Ripple CEO Warns – News Bytes Bitcoin News

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Franklin Templeton CEO says all ETFs and mutual funds will be on blockchain | CoinTelegraph 

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JPMorgan’s Onyx to industrialize blockchain PoCs from Project Guardian |  CoinTelegraph 

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IMF Official: Countries Are Reevaluating Their Reliance on the US Dollar – Economics Bitcoin News

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BRICS joining hands with North Korea to fight against US dollar dominance?  | The News

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The Ticking Time Bomb Has Started For Tether! When It Erupts, EVERYTHING WILL FALL Including XRP!! | Youtube

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Recession has begun since October of 2023 | Youtube 

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Follow Goldilocks' Roadmap

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