More Goldilocks' Comments and Global Economic News Thursday Evening 6-13-24

More Goldilocks' Comments and Global Economic News Thursday Evening 6-13-24

Good evening Dinar Recaps,

Multiple Chinese banks announced their involvement in the mBridge cross-border central bank digital currency (cross-border CBDC) trials after the initiative launched its minimum viable product (MVP) last week. At least nine Chinese institutions are involved in the project, although that figure might now expand with the MVP. |  Ledger Insights

Stablecoin issuer Paxos cuts 20% of its staff as PayPal receives Trust charter | Ledger Insights

Stablecoin issuer Paxos sent an email to staff saying it’s cutting its workforce by 65 people or around 20% of its staff. That’s according to The Block and Bloomberg, who viewed a company-wide email that Paxos confirmed. The move comes despite a strong balance sheet. Two weeks ago we reported that PayPal received a New York trust charter for digital assets, which it has not yet formally announced. The two pieces of news may be related.

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Introducing Ripple USD (RLUSD)  |  The Crypto Basic

A 1:1 USD-backed stablecoin, offering transparency and stability on the XRP Ledger and Ethereum. Coming later this year.

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Worldwide - Oil, Gas & Electricity - Another Major European Bank Withdraws From Fossil Fuel Financing | Mondaq

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United States - Renewables - Treasury Department, IRS Issue Section 45Z Clean Fuel PTC Registration Guidance | Mondaq

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Goldilocks' Comments and Global Economic News Thursday Afternoon 6-13-24

Goldilocks' Comments and Global Economic News Thursday Afternoon 6-13-24

Good Evening Dinar Recaps,

"Singapore Consults on Implementation of Global Minimum Tax"
The Organisation for Economic Co-operation and Development has a 15% tax on multinational enterprises.

Singapore is the latest country to propose the implementation of this tax upon their companies.
This is a market-based collaboration between Global economies designed to develop policy standards that promote sustainable economic growth.

This Capital requirement for the banking system on a global scale comes under pillar 2 banking procedures. Pillar 2 banking supports pillar 1 banking to cover the needs of capital requirements that are not covered in pillar 1. Pillar 3 deals with the open banking system allowing changes to be determined as needed. Below is an article if you would like to do further study on this announcement.

Its purpose is to level the playing field between economies and their opportunities for growth. A unified approach will give countries' currencies the ability to compete with demands for their money based on their own merits and ability to operate a business through the new Basel 3 requirements. Orbitax  StateGov   Acodez

© Goldilocks
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HSBC Announcement | Finance Feeds

"HSBC China has become one of the first foreign banks in the country to provide digital yuan services to both corporate and retail customers."

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Fortune 500 Announcement |  DailyHodl

Currently, over half of the Fortune 500 companies listed on the market are currently in process of interfacing their goods and services on the blockchain.

This means that they have currently begun the process of moving into the new QFS and operating their tokenized asset opportunities through the new digital asset-based trading system.

© Goldilocks
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Zimbabwe is taking an exciting step into the future by launching a public consultation to get opinions on regulating cryptocurrency operations in the country, Bloomberg reports. This is a big change for a nation that has historically struggled with currency issues.

By asking for feedback from the public and talking to industry experts, Zimbabwe aims to balance encouraging innovation in the growing crypto sector with making sure it’s done responsibly and in line with international standards.   Bitcoinist

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Quant ISO 20022 Token utilized on the Shanghai Exchange Announcement:

"Chinese regulators' prompt supervision of quantitative trading will help narrow the gap between programs and individual investors in terms of technology, access to information and speed, thereby boosting the confidence of A-share investors and sustaining the stability of the market in the long run, according to market mavens.

The mainland's three major stock exchanges in Shanghai, Shenzhen and Beijing released on Friday rules on quant trading, or program trading, and solicited public feedback till June 14.

The rules cover six major areas — the management over reporting, trading activities, information systems, high-frequency trading, quant trading via the stock connect program linking the Shanghai, Shenzhen and Hong Kong bourses, as well as supervision."

Quant is a ISO 20022 Network. Quant is a network that connects existing distributed ledger networks such as the Shanghai Exchange to the new digital asset based trading system.

Through the adoption of this ISO 20022 Standard, Quant brings compatibility with traditional financial systems and streamlines secure exchanges of data across several networks simultaneously such as the Shanghai Exchange.  ChinaDaily   CoinCheckup

© Goldilocks

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Bank of Thailand opens DLT programmable payment testing in sandbox - Ledger Insights - blockchain for enterprise

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Goldilocks' Comments and Global Economic News Wednesday Afternoon 6-12-24

Goldilocks' Comments and Global Economic News Wednesday Afternoon 6-12-24

Good evening Dinar Recaps,

"BASEL COMMITTEE MUST STOP GLOBAL BANKS FROM CONTINUING TO CHEAT ON KEY REGULATORY TESTS AND ENDANGERING FINANCIAL STABILITY" | BetterMarkets

These tests include examinations of the bank's capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to systemic risk.

The above sentence is otherwise known as stress tests. A stress test determines how well a bank is capable of handling a liquidity crisis.

The OCC and FDIC conduct several tests to measure a bank's capacity to withstand transitional periods like we are in at the present time.

These tests are conducted to prevent crisis interventions and collapse situations that could become a contagion to other Banks.

Tighter controls on the new digital banking system are not only expected, but they will determine the compliance level a bank has in their standing going forward.  BetterMarkets

© Goldilocks
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BRICS: BRICS calls for enhanced use of local currencies in trade between member countries - The Economic Times

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Joint Statement of the BRICS Ministers of Foreign Affairs/International Relations, Nizhny Novgorod, Russian Federation, 10 June 2024 - The Ministry of Foreign Affairs of the Russian Federation | Ministry of Foreign Affairs

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Call to Action: ISSB Global Adoption

"The International Sustainability Standards Board (ISSB) is an independent, private-sector organization that develops and approves IFRS Sustainability Disclosure Standards."

The International Financial Reporting Standards are intended to make financial statements consistent, transparent, and comparable around the world.

The IFRS S1 and IFRS S2 are climate standards on an economy looking to be accepted on a world wide basis by 2025.

"IFRS S1 requires companies to disclose material information on all sustainability-related risks and opportunities that could reasonably be expected to affect their prospects. IFRS S2 sets out the requirements for climate-related disclosures."

Sustainability-related risks deal primarily with liquidity issues surrounding the banking system such as Governmental risks and economic factors.

Greenhouse gas (GHG) emissions is a climate-related risk. It is a climate related disclosure being proposed, and how, the banking system will be a part of managing those risks ie car loans.

Many compliance rules are expected to shift inside the new digital economy along with climate risks that will affect banking operations. This is one of the new adaptations that is being called for to help us adjust to our changing world.

As you can see from the previous article, new changes are being developed and governed by the ruling bodies above and beyond the banking system to recommit their International compliance standards inside this new digital banking system.   CorpGovLaw   EY   IFRS   PWC   Zurich

© Goldilocks

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National and International governing bodies are starting to get involved with their new policies that will govern the new digital banking system.

This gives us an indication that the governing bodies of our new banking system are beginning to shift their attention to new rules and regulations that will move our money going forward.

© Goldilocks

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How will Europe's elections impact digital euro legislation? - Ledger Insights - blockchain for enterprise

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Russia intends to perform its first cross-border payments using the digital ruble in the second half of 2025. Central bank digital currency (CBDC) transactions with China or Belarus are on the cards. That’s according to Anatoly Aksakov, who chairs the Financial Markets Committee of Russia’s State Duma. |  LedgerInsights

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Panel perspectives: Navigating the new waves of supply chain finance |  TradeFinanceGlobal

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Project Cedar, Explained (Wholesale Central Bank Digital Currency Prototype).  How the 7 trillion dollar a day Forex Market will move its money. | Youtube

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We are moving from a World Reserve Asset transaction to Central Bank Digital Ledger Technological (blockchain) transactions.

© Goldilocks

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🚨BREAKING: BRICS Says 59 Nations Plan to Join, New Financial System, Dedollarization Priorities | Youtube

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A Distributed Systems Reading List | Ferd CA

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Putin Says BRICS Developing Independent Payment System Free From Political Pressure – Featured Bitcoin News

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Ripple Completes Acquisition of Standard Custody & Trust Company – News Bytes Bitcoin News

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Saudi Arabia's petro-dollar exit: A global finance paradigm shift | The Business Standard

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Russia’s Moscow Exchange to stop trading in dollars after latest US sanctions | ARA TV

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FOMC Press Conference June 12, 2024 | Youtube

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Goldilocks' Comments and Global Economic News Tuesday Evening 6-11-24

Goldilocks' Comments and Global Economic News Tuesday Evening 6-11-24

Good Evening Dinar Recaps,

"Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach."

This project has reached its minimum requirements that will allow it to work with early adopters on this Digital Ledger Technology enabling instant payments through cross-border International (CBDC) trades. This system will allow foreign currency exchanges through local currencies.

There are now over 26 observing members and Saudi Arabia has just recently joined as a full participant. This DLT will allow payments to be settled in local currencies of those who are early adopters of this new digital payment system.

"Project mBridge is the result of extensive collaboration “starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority.”

In 2022, real value transactions took place on a pilot program and were successful. This project has been coordinated with the Bank of International Settlements, and it is expected to be available by mid-2024.

Since mbridge has reached its minimum viable product stage, it is now able to invite the International community to begin interfacing onto this section of the QFS.

© Goldilocks
Crowdfund Insider

As of June 2024, the observing members to Project mBridge include: Asian Infrastructure Investment Bank, Bangko Sentral ng Pilipinas; Bank Indonesia; Bank of France; Bank of Israel; Bank of Italy; Bank of Korea; Bank of Namibia; Central Bank of Bahrain; Central Bank of Chile; Central Bank of Egypt; Central Bank of Jordan; Central Bank of Malaysia; Central Bank of Nepal; Central Bank of Norway; Central Bank of the Republic of Türkiye; European Central Bank; International Monetary Fund; Magyar Nemzeti Bank; National Bank of Cambodia; National Bank of Georgia; National Bank of Kazakhstan; New York Innovation Centre, Federal Reserve Bank of New York; Reserve Bank of Australia; South African Reserve Bank; and World Bank.   BIS   Ledger Insights   Product Plan

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According to this report, supply and demand issues in trade are currently in an imbalanced state. The demand for goods and services has steadily grown since the Covid-19 pandemic, and first quarter numbers show a significant growth for the United States and for China. Yet, we are not out of the woods, and supply and demand need to be brought into equilibrium.

High demand is good for traders, and it looks good on the Markets. It is the supply side that is lacking at the present moment due to inflated prices on goods and services. In order to balance the economy and make it grow steadily and forward, there needs to be more attention on moving the products across the country. This will increase money flow and demands on our Stablecoins that in turn gives more purchasing power to our currencies.

Here is where monetary policies come into play. As we move into a tokenized asset and gold token regimen for payment, this will stimulate the process of deflating the economy. A shift in interest rate reduction or remaining steady will give our suppliers liquidity capable of catching up to the demands of companies across the United States and China. 

We are at a wait-and-see approach on the FOMC meeting. The changes made at this meeting and the next one are critical to the transition of our economy and it's moving back into profitable status. Supply Chain Brain Investopedia

WATCH THE WATER.

© Goldilocks

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When will the next fed rate cut be? Look ahead to future FOMC meetings | Investopedia
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Mastercard Launches Open Banking Solutions in Partnership With Atomic to ‘Enhance User Experiences’ |  The Fintech Times

Payments giant Mastercard has integrated Deposit Switch and Bill Pay Switch into its open banking platform, in a move that enables consumers to automatically switch their direct deposits and update their recurring bill payments, when opening a digital account or when updating information on an existing account.

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XRP COULD BECOME THE WORLD'S RESERVE CURRENCY - RIPPLE XRP NEWS | Youtube

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Iraq Seeks $2.5 Billion Missile System from South Korea #iqd #vnd #htg #ZiG Rates | Youtube

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Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements | Coin Trust

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Italian Banking Association trials two styles of wholesale CBDC - Ledger Insights - blockchain for enterprise

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Fidelity Intl tokenizes fund on JPM Tokenized Collateral Network - Ledger Insights - blockchain for enterprise

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Solar-Powered Planes Are Ready to Take Off (And Fly for Months at a Time) - WSJ

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BREAKING NEWS:

Apple unveils "tap to pay" between iPhones! 📲

Apple is interconnected with Ripple's Interledger Protocol! 🤝🏼

All the roads lead to one destination and the destination is called #XRP 💎  Crypto Barbie on Twitter

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Goldilocks' Comments and Global Economic News Monday Afternoon 6-10-24

Goldilocks' Comments and Global Economic News Monday Afternoon 6-10-24

Good Evening Dinar Recaps,

"Core Banking Systems Market Now Well-Established, Cloud Infrastucture to Drive Innovation – Report" | Crowdfund Insider

Cloud banking infrastructure allows financial institutions to deliver banking services and operations through the internet on-demand. 

On Demand Banking allows you to deposit to and withdraw funds immediately and whenever you want.

This electronic digital banking model provides access to computing resources like servers, data storage, and applications.

The top five vendors in 2024 for this new digital banking service include:

* Temenos
* FIS
* Mambu
* Finastra
* Tata Consultancy Services

As we have previously noted, the Iraqi digital banking services are now live on Temenos.

A core banking system is like a nervous system is to the body. It transmits electrical signals to the various components of a banking system allowing it to operate seamlessly.

A core banking system is a back-end system that processes daily banking transactions and posts updates to accounts and other financial records. Crowdfund Insider

© Goldilocks

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Foreign Exchange | Five Degrees

The Core Banking System is the foundation of our Global Financial Markets.

It enables seamless currency exchanges, and it is the part of the banking system that coordinates risk management tools and digital networks to move virtual assets through the new QFS system on a Global scale.

Cross-border international trading is made possible through this new digital banking system mechanism. It will allow foreign currency exchanges to move through the system.

The beauty of this new digital banking system that is the nuts and bolts of all transactions done in a bank lies in the fact that it is done.

© Goldilocks

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China's New Investment Play: Shifting Away from US Treasuries to Global Opportunities" | MSN

"China has diversified its holdings by selling $53.3 billion worth of US Treasuries and agency bonds. This adjustment aligns with BRICS nations gradually broadening their investment portfolios since 2022."

China is moving away from buying US Treasuries to Global opportunities that will expand the Chinese Yuan and the BRICS Nations coalition.

This is all part of leveling the playing field from a World Reserve Currency to payments transacted in local currencies.

This shift will increase the demand for their own currency and make available higher exchange rates with China and whoever they trade with going forward.

© Goldilocks

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As US Treasury bonds are being sold around the world, we have a growing interest in Stablecoin use case scenarios designed to minimize the risk factors of a falling monetary system as it embraces a new digital asset-based trading system.

© Goldilocks

👆 Soft landing potential for the dollar...

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What is Core Banking System | Youtube

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Dodd-Frank Final Rule Announcement |  Dodd-Frank Update

In a move to help accelerate a shift to open banking in the U.S., the Consumer Financial Protection Bureau finalized a rule outlining the qualifications an organization must demonstrate to be recognized as an industry standard-setting body to develop technical standards for protecting consumer data rights.

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Managing Risk With Trade Compliance In Global Supply Chains - Global Trade Magazine

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Leaving the US dollar behind, embracing digital currency | The Jerusalem Post 

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📰  So … all kinds of activity out there … in other news …  Link

🔘Italy  🇮🇹
🔘Austria  🇦🇹
🔘European Parliament 🏰
🔘France  🇫🇷
🔘Belgium  🇧🇪
🔘Spain  🇪🇸
🔘Israel  🇮🇱
🔘Germany  🇩🇪

Italy - exit polls show right-wing party is set to win most seats
Austria - Right-Wing surge; Freedom Party takes the lead in recent election, narrowly outpacing the Conservative People’s Party
European Parliament - Marine Le Pen’s party is on target to become the largest single party in the parliament
France - French President Emmanuel Macron announced that he’s dissolving the National Assembly & calls for snap elections on June 30 & July 7
Belgium - The PM, Alexander De Croo, announced his resignation after the defeat of his party in the European elections. “Tomorrow I will resign as Prime Minister,” announced De Croo.
Spain - Spain’s center-right People’s Party (PP) came out on top in today’s European election, gaining 22 seats out of the 61 allocated to the country, and dealing a blow to the Socialist-led govt of Pedro Sanchez
Israel - 4 resignations in less than an hour: Benny Gantz, Gadi Eisenkot, Avi Rosenfeld, Hili Tropper (all resigned). Israel is crumbling from within - Netanyahu wanted to avoid this by doing the massacre yesterday
Germany - far-right gain in election stunning defeat to Germany’s Scholz

Seems things are heating up & technically Summer hasn’t started yet
🔥 🔥🔥 🔥🔥 🔥🔥

EDIT: can’t forget Germany 🇩🇪

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iTrustCapital | The #1 Crypto IRA Retirement Platform | iTrustCapital

iTrustCapital is a software platform that allows users to buy and sell cryptocurrencies and precious metals through tax-advantaged retirement accounts. It's considered a leading digital asset IRA software platform and offers a selection of over 25 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. iTrustCapital also offers gold and silver. 

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XRP Ledger Ready to Adopt Tokenized Gold, Silver in Q3, 2024 | U Today

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ECB In Focus Webinar with Stuart J. Russell - AI: Concepts, Trends, and Coexistence | Youtube

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Goldilocks' Comments and Global Economic News Sunday Evening 6-9-24

Goldilocks' Comments and Global Economic News Sunday Evening 6-9-24

Good evening Dinar Recaps,

Saudi Arabia joins BIS- and China-led central bank digital currency project | Reuters

Today, we are witnessing a 100-year cycle/bubble in the markets and a 50-year pact going away with Saudi Arabia moving from the Petro Dollar to trading in local currencies.

I wouldn't expect too much of a shift the next 2 to 3 days on the Dollar, but the weeks ahead will have a significant toll on the Dollar going forward.

This shift in the Global Economy will begin the process of "leveling the playing field" and reset new demands on currencies that have not been utilized in trade for a long time.

All of this is coming at a very pivotal time. As we shift our attention from the Petrol Dollar to Stablecoins that represent our local currencies in trade among nations, these new demands will increase money velocity that will raise the value of currencies around the world. 

This is a process that takes a little time to see changes happen, but the process has begun.  Reuters

WATCH THE WATER.

©✓Goldilocks 

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Breaking the Bank: Sen. Lee Introduces Bill to Abolish the Federal Reserve | Lee Senate

READ  PDF HERE

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Central Banks of the World Explained

It is important to note that we are moving from a Petro Dollar regimen to a Central Bank Digital System.

There are about 214 Central Banks around the world that are officially recognized by countries as of Feb 16, 2023.

The new Global Economy is moving into a "shared governance regimen" whereby "leveling the playing field" between countries through Central Banks are beginning to lead the way.

It is the wCBDC coins that will move money around in cross-border International trading. This is causing a shift in the movement from a World Reserve Asset to a shared Central Bank Governance. PLUS50 Stabroek News

© Goldilocks

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Remember the Golden Rule! Whoever has the gold, makes the rules! | Economic Sociology

"He who holds the gold makes the rules." This is never been more applicable than it is as we approach our new world.

The Central Banks govern the banking system.

Who has been storing the gold? The Central Banks. Now, you can begin to see where this is heading.

© Goldilocks

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DTCC testifies to Congress on opportunities to advance financial markets | Asset Servicing Times

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The New York Fed acts as the guardian and custodian of the gold on behalf of account holders, which includes the U.S. government, foreign governments, other central banks, and official international organizations. No individuals or private sector entities are permitted to store gold in the vault. | NewYorkFed

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What Central Banks Do | Investopedia

On a macro basis, central banks influence interest rates and participate in open market operations to control the cost of borrowing and lending throughout an economy. Central banks also operate on a micro-scale, setting the commercial banks' reserve ratio and acting as lenders of last resort when necessary.

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Central Bank | Wikipedia

In some countries a central bank, through its subsidiaries, controls and monitors the banking sector. In other countries banking supervision is carried out by a government department such as the UK Treasury, or by an independent government agency, for example, UK's Financial Conduct Authority.

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Steady as we go: results of the 2023 CPMI cross-border payments monitoring survey | BIS

Enhancing cross-border payments has been a G20 priority since 2020. This ambitious programme requires action by individual jurisdictions and payment systems. The CPMI survey results show determined progress: the vast majority of payment systems have or are in the process of implementing at least one action that the G20 considers to be relevant to enhance cross-border payments.

Despite the promising number of initiatives planned to enhance cross-border payments, the survey results also highlight potential areas for further work. Projects to enhance cross-border payments cannot be seen in isolation and should complement domestic projects, given that the first and last miles of cross-border payments are typically processed in a domestic payment system.

Central banks, in their roles as catalysts and operators, are key to bringing cross-border payments forward. International organisations and standard-setting bodies, such as the CPMI, the IMF, and the World Bank, can support central banks in their ambitions.

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Cash isn't going away, despite declining use | PaymentsSource | American Banker

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Russia and China to cooperate on Arctic shipping route | Ship Technology

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New Law Grants U.S. President Sweeping Powers to Block Digital Asset Access, Sparking Concerns - Crypto Daily

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Goldilocks' Comments and Global Economic News Saturday Afternoon 6-8-24

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-8-24

Good Evening Dinar Recaps,

Stablecoin News:

"Three Stablecoin startups are announcing funding rounds: Mountain Protocol, M^0 and Tether-backed XREX. Additionally, Paxos announced a yield earning stablecoin in Dubai, and Franklin Templeton said it would allow investors to use USDC to buy its tokenized money market fund FOBXX."

It looks like more asset managers are beginning to issue more Stablecoins. The momentum in Stablecoin production and soon to be used is an indication of where we are in the process of implementing this QFS.

There would be no reason to manufacture digital currencies that pay for tokenized assets unless there was a reason to do so. As we edge closer to the end of this month and laws go into play to govern our new QFS, "liquidity" is being built for its implementation.

As stated many times in this room, Stablecoins represent a country's currency. The use of these banking coins will create demand and price pressures. This will help to redirect our currencies' current path and send them into a more positive direction.

Going forward, Stablecoins are backed by some form of a commodity. This will give our currencies a real value and enable a deflationary effect on our Global economies. This move will reset Global currencies and put them into a positive direction over time.  Ledger Insights    The Motley Fool

© Goldilocks

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Bitcoin Scarcity Grows as Miner and Exchange Reserves Drop by 183,253 BTC Since January  – Bitcoin News

Over the past 158 days, starting from the beginning of the year, the quantity of bitcoin held by exchanges and miners has decreased by 183,253 BTC, valued at nearly $13 billion. Roughly 90.95% of this bitcoin withdrawal originated from cryptocurrency exchange reserves.

From Jan. 1 to June 7, 2024, a substantial amount of bitcoin (BTC) has exited the reserves of bitcoin miners and exchanges. Although less than 10% of the total originated from BTC miners, their combined holdings are steadily decreasing.

This continuous depletion of bitcoin from exchanges and miners not only underscores a trend toward greater individual holding but also amplifies bitcoin’s inherent value through increased scarcity. 

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Meld Gold and Ripple are partnering to bring Real World Assets (RWAs) to the XRP Ledger (XRPL) platform. This partnership will bring in institutional grade functionality along with secure and efficient protocols.

This is done through leveraging the Algorand Standard Asset Core functionality. In essence, Meld will tokenize digital gold in the form of a Meld Digital Gold Certificate. Each token will be equal the value of 1 gram of physical gold.

The implementation of this new digital asset (Meld Gold) is just around the corner. Fungible gold and silver assets on XRPL will begin in Q3.  Yes, July.

Through the use of the new digital economy, gold standard protocols uniting real world assets backed by gold and gold payment tokens are about to usher in a new Financial System.

Medium    Algorand Technologies    Algorand Developer

Gold will set us free!

© Goldilocks

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A multipolar economy is needed to reduce the risk of global economic instability caused by problems in large economies, Dilma Rousseff, a former president of Brazil and the current president of the New BRICS Development Bank (NDB), said Thursday. | Anadolu Agency

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Sturdy central bank gold buying since 2009 and a rising gold price has grown the precious metal’s share of global international reserves to the detriment of fiat currencies. By the end of 2023 gold surpassed the euro and the next fiat currency to be challenged is the US dollar. | ZeroHedge

👆  Goldilocks pointed to this article

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New Texas-based stock exchange looks to take on Nasdaq, NYSE | CBS News Texas

"TXSE will be a "fully electronic national securities exchange" that seeks to expand access to U.S. capital markets "for all investors while providing greater access and alignment for public companies and those seeking access to public capital," according to the press release."

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Bretton Woods meeting 2024 | Twitter

“Where we go with our money isn’t being led by central banks, its led by society.  It’s our mandate to provide for the needs of the population.
We need to replace our plastics and metals for bits and bites, and we can do that in many different ways.
The physical economy is going down, and the digital economy is going up”

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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 if time allows!  Listeners can also ask questions on the call following Freedom Fighter's breakdown!

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

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Gold is in an intermediate degree profit-taking event | Youtube

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Goldilocks' Comments and Global Economic News Friday Evening 6-7-24

Goldilocks' Comments and Global Economic News Friday Evening 6-7-24

Good Evening Dinar Recaps,

Family Office Update: Exchange Act Form 13F – New Requirements Effective July 1, 2024

In a nutshell, Section 13(f) requires any “institutional  investment manager” that exercises investment discretion  over the accounts of any other person holding “section  13(f) securities”3 with an aggregate fair market value of at least US$100 million to make certain periodic filings with  the Securities and Exchange Commission (SEC) on Form  13F. Section 13(f) applies to all “institutional investment   managers,” regardless of whether they are registered as  investment advisers under the Advisers Act.

Therefore,  a family office, even if it is not required to register under  the Advisers Act, may nevertheless be an “institutional  investment manager” for purposes of Section 13(f), and  therefore be required to make filings on Form 13F.

Reporting obligation that will become effective on July 1,  2024. Each Form 13F filer will now be required to make an  annual filing on Form N-PX to disclose its votes on any pay-related proposals presented to stockholders by the public  companies in its investment portfolio.

Although Form 13F only requires reporting in respect  of “section 13(f) securities” (as identified on the SEC’s  quarterly Form 13F List), Form N-PX reporting is not limited to  securities on that list, but it applies to pay-related votes cast on  all securities registered under Section 12 of the Exchange Act.

Family offices that are required to file Form 13F will need  to develop procedures to identify and keep a record of any  pay-related proposals that are presented at their portfolio  companies’ stockholder meetings – and how they cast their  votes – so that they will be able to make accurate and timely  filings of Form N-PX, which must be made annually by August  31 of each year, covering the filer’s say-on-pay voting record  9+ for the 12-month period ended June 30.

Form N-PX filings will be available to the public through the SEC’s website.  Squire Patton Boggs  SEC

~~~~~~~~~

Model Portfolios by J.P. Morgan. | J P Mprgan

Asset Managers will play a larger role in the new banking system offering you new opportunities going forward.

Several portfolio options have changed that include Digital Asset opportunities explored and powered by artificial intelligence guidance.

Many of our new portfolios will include artificial intelligence guidance that outlines a path forward for investors depending on their personal needs.

The ability to invest in Quantum Technologies will offer higher yield percentage rates for those who invest in the new technical sciences.

Digital Asset opportunities that move through the market/banking system will be available for those who want to use the new and improved updated tokenized asset market to invest in Bitcoin and other assets without the responsibility of holding the coins themselves.

The new banking system is run off of a Digital Ledger Technological System. Because of these changes, artificial intelligence will play a larger role in the banking system than before. You may see less workers in a bank and more personal wealth managers known as relationship managers.

It is important for us to know and be known by our relationship managers in the banking system going forward to receive personal guidance that we once received in other ways in the past.

© Goldilocks

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IBM and Pasqal Initiate Collaboration to Define Classical-Quantum Integration for Quantum-Centric Supercomputers |  The Quantum Insider

IBM and Pasqal announced their intent to partner to develop a common approach to quantum-centric supercomputing.

The teams will also promote application research in chemistry and materials science.

The two companies share the vision for a common approach to integration based on open-source software and involvement in the technical community.

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Quantum startup Pasqal partners with US competitor IBM to develop ‘quantum-centric supercomputing’  |  Sifted

"Paris-based quantum computing startup Pasqal is joining forces with US tech giant IBM to work on technologies that combine the capabilities of quantum and conventional computers.

The two companies are usually portrayed as competitors: Pasqal is one of Europe’s best-funded startups building quantum computers, while IBM has poured billions into the technology and is considered a leader in the sector. 

But they are now set to collaborate to develop what is known as ‘quantum-centric supercomputing’ — a term coined by IBM to describe the integration of quantum and conventional computations within a single workflow to make the most of what each technology is best at."

In other words, traditional computers of the past are joining forces with the quantum computers of the future. You could say that the computer industry is getting an upgrade.

It is very similar to what is happening inside the new Digital Financial System. Traditional Banking is being upgraded into a new Digital Asset Based Trading System.

It is amazing how our lives are changing so rapidly at this point. The movement into a technological creative age has just begun.

© Goldilocks

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IOTA has launched its L2 EVM network focusing on real-world asset usage | CoinJournal

IOTA launches layer 2 EVM or Ethereum Virtual Machine network, integrating real-world assets and boosting DeFi.

The newly launched EVM network features smart contracts, cross-chain capabilities, and MEV or Price manipulation protection."

IOTA is the first distributed ledger built for the “Internet of Everything.” it is a network for exchanging value and data between humans and machines.

This digital network exchanges value assets on just about anything you can think of that is tokenized. This includes just about any goods and services products you can think of going forward.

Iota is the backbone of Web 3 decentralized transactions. It records data transfers on items of value between institutions and people.

This network is designed to build digital trust between monetary transactions in the new technological age.

© Goldilocks

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Technology and Gold are merging together forming new alliances/digital networks that move money electronically enabling standard digital protocols for tokenized assets and their payment systems governed by artificial intelligence.

© Goldilocks

~~~~~~~~~

Institutional Investor: Who They Are and How They Invest | Investopedia

An institutional investor is a company or organization that invests money on behalf of clients or members.

Hedge funds, mutual funds, and endowments are examples of institutional investors.

Institutional investors are considered savvier than the average investor and are often subject to less regulatory oversight.

The buying and selling of large positions by institutional investors can create supply and demand imbalances that result in sudden price moves in stocks, bonds, or other assets.

Institutional investors are the big fish on Wall Street.

~~~~~~~~~

Bretton Woods Project IMF Reforms Announcement | Bretton Woods Project

After long awaited negotiations, the IMF concluded its 16th General Review of Quotas with no meaningful reform to shift the balance of power in favour of emerging economies to ensure a more accurate representation of countries in the global economy. 

This reform agenda would include the following points:

* Reform of conditionality to make it more flexible;

* A reduction in the costly surcharges applied to large and longer-term lending;

* A bolstering of concessional financing for low-income members;

* An increase in the overall resources available to the Fund by making the future roll-back of borrowing lower than the quota increase approved in December 2023;

* A higher proportion of basic votes to increase the voting power of smaller nations;

* A third chair for Sub-Saharan African countries in the executive board;

* A fifth deputy managing director position to ensure a greater presence of middle- and low-income in the IMF’s administration.

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#VinceLanci : #BRICS mBridge Platform Goes Live | Youtube

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LIVE: White House Riot fences going up late in the evening. | Youtube

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~~~~~~~~~

XLM, XRP, and XDC are utility tokens. Utility tokens are backed by a physical asset.  

10 cents, 49 cents, and 3 cents a coin are not bad prices for precious metals.  😉

© Goldilocks

~~~~~~~~~

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Goldilocks' Comments and Global Economic News Thursday Afternoon 6-6-24

Goldilocks' Comments and Global Economic News Thursday Afternoon 6-6-24

Good Evening Dinar Recaps,

Digital Currency Project Announcement:

Saudi Arabia joins China and UAE in digital currency project. The kingdom is joining the Switzerland-based Bank for International Settlements' central bank digital currency platform."

Saudi Arabia is the latest country to join this multi-country initiative utilizing wCBDC as a form of payment.

This announcement came on Wednesday as Saudi Arabia joined Project mBridge as a “full participant.” This means that Saudi Arabia will be moving to a wCBDC payment regimen joining many countries in the Eastern half of our world in payments through local currencies.

This will significantly minimize the use of the Petro Dollar if not completely over time. Currently, Saudi Arabia still services the United States along with China who uses the Petro Yuan to trade in oil agreements.

This will level the playing field a great deal in the use of currencies moving from a Petro Dollar regimen to wCBDC payment source. Remember, well over 80% of trade around the world is done on the water where exchange rate quotas and percentages are currently under pressure from new demands on local currencies to begin looking at resetting their prices.  Al-Monitor   State Gov

WATCH THE WATER.

© Goldilocks  

👆  Goldilocks pointed to this article

~~~~~~~~~

The word is on the street and in the back rooms of the trading markets that the US may not lower interest rates until just before the election. We will see if we can wait that long.

The surrounding countries we trade with will put significant pressure on the dollar if we do not make this monetary policy change ourselves. It is important to note that these recent changes may not be permanent anyway, but it will give some breathing room for countries who need an opportunity to gather in more loans as we approach a Gold Standard Regimen.

Holding interest rates at higher levels will strengthen currencies as we approach a Gold Standard support system. Many countries are already making this shift into gold gradually, but the pace may soon pick up.

When you combine strong technical fundamentals with a real value through gold, it creates new movement in the opposite direction we are going at the present time.

Unless things change for the European Union, they are still planning on going to a Gold Standard Protocol January 1st, 2025. Countries will begin following suit in the process between now and then in preparing their countries for this change.

Gold will set us free!

© Goldilocks

~~~~~~~~~

Silver Technical Scoop: Precious Benefit, Market Divergences | SilverSeek

Gold and silver have been taking a divergent path as of late, and it may do so until the end of July. This is normal, but the timing of this is impeccable.

A great deal of attention will be placed on transitioning this economy into digital assets. Gold and silver will have competitive asset classes to draw from these next two months, but they will merge together as the year goes on complimenting one another.

The merging of the traditional economy into a gold standard protocol through digital assets is the next move. Look for credit valuation judgments along the way to form new patterns of behavior on Market structures as they correlate their prices into a real value.

© Goldilocks

~~~~~~~~~

ISO 20022 in bytes for payments: Supporting your CBPR+ readiness | Swift

Swift Announcement:

"The community continues to make steady progress with Global ISO 20022 adoption and with only 18 months to go until the end of coexistence, the daily average number of CBPR+ messages exchanged now exceeds one million.

At its March 2024 meeting, the Swift Board re-confirmed the community’s commitment to November 2025 as the end of the MT/ISO 20022 cross-border coexistence period, emphasizing that priority should be given to instruction messages to ensure operational continuity and ongoing interoperability."

This gives us ISO 20022 coverage through the Swift System until November 2025 when the Swift System gives way to the new digital messaging system.

Countries seeking to join the ISO 20022 messaging system have until November of 2025 to do so. Until then, Swift is extending itself as a bridge for countries needing to make this transition.

This does not mean that the transition of the new banking system has to wait until November 2025. It just means that the banking messaging system will be able to go ahead and transition as we wait for this date.

© Goldilocks

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Israel advances digital shekel initiative with new innovation challenge | Crypto Reporter

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Interest rates are likely headed down, at least in Europe | AP News

European Central Bank Announcement:

FRANKFURT, Germany (AP) — The European Central Bank cut its key interest rate Thursday by a quarter point, moving ahead of the U.S. Federal Reserve as central banks around the world lean toward lowering borrowing costs - a shift with far-reaching consequences for home buyers, savers and investors.

The ECB cut its benchmark rate to 3.75% from a record high of 4% at a meeting of the bank’s 26-member rate-setting council in Frankfurt.

The ECB said in a statement that “price pressures have weakened, and inflation expectations have declined at all horizons,” allowing it to start loosening credit.

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Bank of Canada cuts key interest rate to 4.75% | CBC News

The Bank of Canada announcement:

The Bank of Canada has lowered its key interest rate to 4.75 percent, marking the bank's first rate cut since March 2020.
Bank governor Tiff Macklem said in opening remarks that the bank's monetary policy no longer needs to be as restrictive.

"We've come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the two percent target has increased over recent months," Macklem said.

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SBV vows to fight Vietnam's goldization | SGGP English Edition

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Temenos and Mastercard join forces to expand cross-border payment capabilities through Mastercard Move | Morningstar

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The Unitas Protocol for emerging market currency stablecoin | Ledger Insights

Emerging Market Stablecoin Announcement:

Tether recently announced its funding of XREX, which targets emerging market trade payments. This spotlighted the Unitas Protocol for emerging market currency stablecoins, co-founded by Wayne Huang, XREX’s CEO.

Today stablecoins are dominated by dollars. It can be useful for SMEs to pay with local currencies as well. Hence, the aim is to provide stablecoins that match the unit of account in emerging economies.

The Unitas Protocol involves the issuance of individual currency stablecoins that are over-collateralized by US dollar stablecoins, a little reminiscent of MakerDAO’s DAI, but with some major differences.

While most fiat currency stablecoins are redeemable for the same currency, the Unitas Protocol aims to back emerging market currencies with US dollar stablecoins.

Provided Unitas gains traction, cryptocurrency exchanges will act as on- and off-ramps. Hence, even though a Unitas currency is redeemable for dollars, users may choose to exchange Unitas currencies directly for local currencies without necessarily needing to go the US dollar route. 

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Project mBridge reaches minimum viable product stage and invites further international participation | BIS

Private sector participants are invited to propose value-added solutions that can be connected to the mBridge MVP platform. 

More central banks and commercial banks can join the platform through the mBridge MVP legal framework and perform real transactions on it.

Project expands international cooperation with a new full member and observers.

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More details on Project Agorá—the plan to tokenize correspondent banking | CoinGeek

In April, the Bank for International Settlements (BIS) announced Project Agorá, a project in which seven central banks aim to transform cross-border payments via tokenization.

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Turning trash into a golden opportunity. | Youtube

👆 In the future, when someone says your house is a dump, there may be some truth to it. 😂

~~~~~~~~~

Comparing IMF Economic Report to Iraq's Actual Plans | Youtube

👆  Goldilocks pointed to this video

~~~~~~~~~

This report is showing us that the markets are contracting. | Youtube

~~~~~~~~~

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Goldilocks' Comments and Global Economic News Wednesday Evening 6-5-24

Goldilocks' Comments and Global Economic News Wednesday Evening 6-5-24

Good evening Dinar Recaps,

NEW YORK, N.Y. — "The Commodity Futures Trading Commission’s Global Markets Advisory Committee (GMAC), sponsored by CFTC Commissioner Caroline D. Pham, advanced two recommendations to examine the impacts of proposed U.S. bank capital requirements and to improve collateral and liquidity management for non-centrally cleared derivatives." | CFTC

Recommendations:

1. Global Market Structure Subcommittee Recommendation – "Report on the Impact of the US Bank Capital Proposals on End-Users that Rely on Cleared Derivatives Markets"

This first recommendation deals with Capital Requirements and corresponding collateral that is put up to ensure that both sides of a trade moves through the system.

In many cases, this will represent gold for large transactions inside of large foreign currency exchanges.

The London Clearing House and the Chicago Mercantile Exchange are two examples of Clearing Houses that will process our transactions.

2. Technical Issues Subcommittee   Recommendation – "Variation Margin Processes in Non-Centrally Cleared Markets"

Non-centrally cleared markets happen in markets where transactions are moved through the system without the involvement of a central counterparty or custodian.

Examples of non-centrally cleared markets include:

* Non-centrally cleared bilateral repo (NCCBR) market

This concept deals with credit given on both sides of a trade to execute the process allowing a trade to go forward.

* Non-centrally cleared derivatives (NCCDs)

And, this concept deals with clearing derivative product details such as interest rates, foreign exchange trades, credit, commodity, and Equity trades.

On the new Digital Asset Based Trading System, Smart Derivative Contract Clearing can now be done through digital mechanisms capable of processing these informational data points at the touch of a button.

Here, we have Gold and Technology merging into synchronized partnerships designed to clear a market transaction or a banking portfolio with a few strokes of a keyboard.   CFTC

© Goldilocks

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Instant Cross-Border Payments Announcement:

"The BIS unveiled Project Rialto (https://www.bis.org/about/bisih/topics/cbdc/rialto.htm) a new foreign exchange (FX) module looking to improve FX settlement for instant cross border payments. It will use wholesale central bank digital currencies (wholesale CBDC) as the settlement asset. The FX module could be used as an add on for solutions that interlink instant payment solutions, such as Project Nexus, or as part of a digital asset settlement solution."

Wholesale CBDC will be utilized in foreign currency exchanges. I know many of you will have a question about this procedure, so I looked into it a little bit further to give you the following sentence. Once your funds reach your personal banking account, it does not transition into Retail CBDC.

A retail CBDC is for general public use, and wholesale CBDC is for the banking system to utilize. It remains to be seen at what level we will see a retail CBDC if at all. If retail CBDC is adopted, the public has made it known that the government is going to have to continue working on the privacy issue. Time will tell on this one.   BIS   Ledger Insights   World Economic Forum

© Goldilocks

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Deutsche Bank 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. | The Tokenizer

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Tokenized Exotic RWAs Are Piquing Investor Interest | Forbes

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The U.S. Faster Payments Council (FPC) has recognized Ripple among companies like Visa and Mastercard set to compete for dominance in currency conversion for digital assets. | The Crypto To Basic

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France’s prudential regulator advances work on certification of smart contracts | Ledger Insights

As part of a speech (https://www.banque-france.fr/en/governors-interventions/future-money-regulatory-and-policy-issues-related-introduction-cbdcs) earlier this week, the First Deputy Governor of the Banque de France (https://www.banque-france.fr/), Denis Beau, revealed that the ACPR is working with the industry to certify smart contracts. The Autorité de Contrôle Prudentiel et de Résolution, ACPR, is the prudential regulatory arm of the central bank.

“Work is continuing in 2024 with stakeholders on one of the ACPR’s key proposals, namely the mandatory certification of smart contracts prior to their use,” he said. Mr Beau noted that early French crypto-asset regulations had heavily influenced the MiCA regulations.

Last April the ACPR shared some proposals on the possibility of regulating DeFi. They fell into three buckets:
* Security standards for private DLTs and public blockchains
* Certifying smart contracts
* Regulating DeFi entry points such as websites.

~~~~~~~~~

Can Ripple take over SWIFT? While Ripple might have the potential to take over SWIFT, it is also possible that SWIFT might leverage its considerable resources and reputation and pivot its services to include blockchain technology in some format. | Daily Coin

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Bretton Woods 3 - New World Monetary Order | Youtube 

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5 yr projections | US Debt Clock

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"Tokenization can leverage the efficiency and transparency of blockchains to help modernize U.S. markets." | Twitter

~~~~~~~~~

UAE Central Bank Approves Stablecoin Licensing – CryptoMode

~~~~~~~~~

“Iraq to Start Mining Bitcoin with UAE on Nation-State Level” | Youtube

~~~~~~~~~

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Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Good Evening Dinar Recaps,

"The State Bank of Vietnam (SBV) started selling gold directly to four state-owned commercial banks today (June 3), aiming to lower the metal’s domestic price. The institutions will then sell the gold bars to the public."

This new monetary policy shift will continue as Vietnam attempts to narrow the difference between the domestic and global gold bar prices per SBV officials. It is an attempt to revalue gold through resetting its price.

This diversifies their people's portfolio, and it gives the banking system a broader strength to their accounts. In return, it gives the SBV an opportunity expand their net worth and give out loans.

Vietnam has been accumulating gold in order to join the BRICS Nations. One of the requirements is that they do accumulate gold to support their banking system.

Can you see where this is going now? Everything across the board from the markets, the banking systems, the shipping ports, and to the people are turning to gold to deflate an inflated economy.

Through Tokenized Assets, our Global Economies will have a real value on every product that can be bought and sold including Forex opportunities.

I look to see these opportunities begin to shift in July for Vietnam as they become a Market Economy. Can it happen before that time?  English News  Central Banking   English News 2  Wikipedia

We are about to find out.

© Goldilocks

~~~~~~~~~

We finally have some prices placed on the US Debt Clock. It has been empty for some time. In fact, many countries in the East have been wondering when those numbers would show up. Well, they are here now.

This doesn't mean that these are prices that are set in stone. It just means they are prices to work from going forward as our world resets the price of gold and reclassifies gold as money. https://www.usdebtclock.org/

Gold will set us free!

© Goldilocks

~~~~~~~~~

It is the revaluation of Gold that will set the tone for the new economy. It will determine, to some degree, the price of all goods and services across all asset classes.

© Goldilocks

~~~~~~~~~

MiCA Regulations Force Binance to Overhaul Stablecoin Services | Finance Magnates

"Starting June 30, 2024, the European Economic Area (EEA) will enforce new regulations under the Markets in Crypto-Assets (MiCA) framework, specifically targeting stablecoins. Binance, one of the world's largest cryptocurrency exchanges, plans to roll out changes to ensure compliance, impacting everything from trading to rewards.

Only regulated companies can issue and offer stablecoins, termed regulated stablecoins. Many existing stablecoins do not meet these criteria and will be designated as unauthorized stablecoins, facing various restrictions on Binance's platform, the cryptocurrency exchange said in a statement on its website."

Remember, stablecoins represent a country's currency. The new regulations will be going into effect on June 30th, 2024.

This will begin to determine new prices in the new digital economy regarding trade relations around the world.

An increase in demand for local currencies around the world that have moved from a dollar regimen to a local currency regiment will begin.

This is when credit valuation adjustments begin. It does not mean new rates will happen overnight. In fact, to determine new price correlations on the market requires algorithmic patterns to set in that become normalized.

Watch the water.

© Goldilocks

~~~~~~~~~

EXCELLENT NEWS Iraq's Leap in Electronic Banking | Youtube

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Next generation correspondent banking | BIS

Existing correspondent banking processes have struggled to adapt to new regulatory and supervisory requirements, posing questions on the future of the correspondent banking model.

The tokenization of correspondent banking, as embodied in Project Agorá (BIS (2024b)), could unlock streamlined pre-screening and atomic settlement, and pave the way for superior customer verification and anti-money laundering (AML) procedures.

Tokenization could substantially reduce duplication and miscoordination, thereby revitalising cross-border payments by fostering a robust network of correspondents and corridors.

~~~~~~~~~

Russia and China 'close' to replacing SWIFT — business regulator. |  Azerbaycan24

👆  Goldilocks pointed to this article

~~~~~~~~~

Sexy Bank Deals, Ripple Story, How to Distribute the XRP Escrow, When Smart Contracts on XRP Ledger | Youtube

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Swift Unveils AI Pilots to Combat Cross-Border Payment Fraud - Fintech Singapore

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Event: Hearing Entitled: Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets |  Financial Services.House

When: Wednesday, June 5, 2024 9:00 AM in 2128 Rayburn House Office Building

What: Subcommittee on Digital Assets, Financial Technology and Inclusion

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UAE Central Bank Approves Issuance of Stablecoin Regulation | Cryptopolitan

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BREAKING NEWS

TURKEY SAYS BRICS COULD OFFER A GOOD ALTERNATIVE TO THE EUROPEAN UNION TO BOOST ITS ECONOMIC PROSPECTS

Awkward…      Read: Twitter

~~~~~~~~~

If Russia Accepts Gold for Oil, Gold Price Doubles to $3,600, Says Credit Suisse’s Zoltan Pozsar | BMG Group

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WATCH HERE

Power of copper = Free Healing

⚡️Copper + Gardening - Cultivate Elevate

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Summary / Status Iraqi Dinar ReValue IQD VND Exchange Rates | Youtube

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THE U.S. GOVERNMENT WILL REPLACE SWIFT WITH RIPPLE XRP | Youtube

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BOOOOOOOOOOOOOOOOOOM!!!

Brad Garlinghouse indirectly says that the case will end this summer with the payment of a fine in the millions, not billions.

#XRP would be the first FULLY regulated digital asset in the United States of America! | Twitter

~~~~~~~~~

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