Goldilocks' Comments and Global Economic News Tuesday Evening 10-10-23
Goldilocks' Comments and Global Economic News Tuesday Evening 10-10-23
Good afternoon Dinar Recaps,
Collaboration Between Regional Financing Arrangements and the IMF recently met to discuss Global Economic Reforms.
"The staff of the International Monetary Fund (IMF) and the heads of RFAs (the Arab Monetary Fund, the ASEAN+3 Macroeconomic Research Office cum the Chiang Mai Initiative Multilateralisation, represented by Bank Indonesia as its 2023 Co-chair, the BRICS Contingent Reserve Arrangement, represented by the South African Reserve Bank, the Eurasian Fund for Stabilization and Development, the European Commission, the European Stability Mechanism, and the Latin American Reserve Fund) discussed economic developments" over the last few years.
Goldilocks' Comments and Global Economic News Tuesday Evening 10-10-23
Good afternoon Dinar Recaps,
Collaboration Between Regional Financing Arrangements and the IMF recently met to discuss Global Economic Reforms.
"The staff of the International Monetary Fund (IMF) and the heads of RFAs (the Arab Monetary Fund, the ASEAN+3 Macroeconomic Research Office cum the Chiang Mai Initiative Multilateralisation, represented by Bank Indonesia as its 2023 Co-chair, the BRICS Contingent Reserve Arrangement, represented by the South African Reserve Bank, the Eurasian Fund for Stabilization and Development, the European Commission, the European Stability Mechanism, and the Latin American Reserve Fund) discussed economic developments" over the last few years.
They discussed the changing landscape of the new Digital Economy along with new Economic Mechanisms currently being put into place to facilitate financial change and growth in the coming years.
The overall meeting appeared to have a solemn tone to it from the view of this author, but encouragement to stay the course was a pervading theme of this gathering.
No mention of a divisive opinion took place by any Global entity present at this meeting. Their movement forward appears to be in agreement.
There was an agreement to move forward with the following. "On October 4, 2023, the Executive Board of the International Monetary Fund (IMF) completed the review of the Policy Coordination Instrument (PCI) and endorsed the proposal to eliminate the Policy Support Instrument (PSI)."
The PSI instrument will eliminate money offered by the IMF to low-income countries who feel they do not need that tool any longer. A quiet confidence in the new Financial framework was the pervading theme.
This meeting represented major Global entities from around the world to discuss and implement new policies regarding global economic reforms.
When reading past scripts on this annual meeting, there were great concerns. This meeting was filled with anxious anticipation and cautious hope, but movement forward with these new global reforms was encouraged.
© Goldilocks
IMF Link1
IMF Link 2
IMF LInk 3
IMF Link 4
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The Smart Contract “Kill Switch” is a regulatory mechanism introduced by the EU to address specific concerns related to smart contracts. Essentially, it allows authorities to intervene in a smart contract under certain predefined circumstances.
The primary purpose of this kill switch is to mitigate potential risks associated with smart contracts. While smart contracts are designed to be self-executing and irreversible, intervention becomes necessary in some situations. For instance, in fraud, illegal activities, or contracts that violate legal requirements, the kill switch allows regulatory bodies to halt or modify the smart contract.
This mechanism, although controversial, is viewed as a means to ensure that smart contracts comply with existing legal frameworks and ethical standards. It provides a safety net for situations where the decentralized nature of blockchain technology could potentially be exploited for malicious purposes.
Administrators often use this mechanism to deactivate a device or software in response to a security threat. In the context of smart contracts, the kill switch can perform two functions: it can either terminate the contract entirely or initiate a pause, patch, and subsequent re-release of the contract, especially in cases involving significant bugs or security breaches.
https://www.cryptopolitan.com/why-implement-a-smart-contract-kill-switch/
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The International Monetary Fund is warning that around 5% of banks GLOBALLY are vulnerable to stress if central bank interest rates remain high.
The IMF also said that 30% of banks would be vulnerable if the global economy entered stagflation.
Again,
Hollywood ending.
Read: https://x.com/goldtelegraph_/status/1711777694751629734?s=46
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Goldilocks' Comments and Global Economic News Monday Evening 10-9-23
Goldilocks' Comments and Global Economic News Monday Evening 10-9-23
Good afternoon Dinar Recaps,
Israel Latest: Army Reserves Called Up, Chevron Shuts Gas Field
"Chevron was told by Israel to shut down an offshore natural gas platform, citing safety concerns. Oil rose and the conflict shook local markets, with the shekel dropping despite a huge support package from the central bank."
Yesterday, we talked about prices on paper currencies fluctuating during a time of War. Today, we are going to take a look at what happens to the commodities that support our current payment systems.
Goldilocks' Comments and Global Economic News Monday Evening 10-9-23
Good afternoon Dinar Recaps,
Israel Latest: Army Reserves Called Up, Chevron Shuts Gas Field
"Chevron was told by Israel to shut down an offshore natural gas platform, citing safety concerns. Oil rose and the conflict shook local markets, with the shekel dropping despite a huge support package from the central bank."
Yesterday, we talked about prices on paper currencies fluctuating during a time of War. Today, we are going to take a look at what happens to the commodities that support our current payment systems.
Oil, silver, and gold stabilize our paper money as much as it can during a War. Oil reserves are held back and utilized mainly by the military causing shortages in the oil market and prices do rise.
The uncertainty of economic needs during times like this shifts priorities toward military efforts in all sectors of the economy. Price distortions begin to create payment fluctuations on everything across the board.
This is why the end of wartime efforts requires new treaties that include new exchange rates for all countries involved. Depending on how much infrastructure demands are created during a War, it will have a corresponding need for the printing of money to keep pace with the rebuilding of an economy.
Remember, many of the economies that are supporting allies to Israel and Palestine represent many of the currencies you and I hold. Many of these allies have not had a reason to supply their currency Market with enough demand to justify increases of printing them just yet.
There will be a need to supply enough money in all countries that get involved in this war to fulfill their orders created by demand. Already, we are witnessing trade imports and exports being shifted to support their favorite allies.
These shifts alone will begin to put price pressures and need for more money supply to take place in several countries that have shifted from the dollar to their own local currency.
All this includes investors who participate in the rebuilding of an economy speculating on the needs of communities allowing a participation of money velocity to return to these economies at a level that promotes growth in their own local currencies.
© Goldilocks
Financial Post Link
Statista Link
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Our Experience with the Collapse of the Dollar’s Purchasing Power for Used Cars, Auto Insurance, Repair Costs, Rental Cars
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Markets: Investors will be focused on the outbreak of war in Israel and Gaza, which could lead to volatility in global stock markets and oil prices, depending on the escalation of the conflict. US oil futures jumped as much as 5.4% last night. Later in the week, the consumer price index report will give an update on the Fed’s fight against inflation.
© Morning Brew
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Asset Revesting Quarterly Analysis
https://youtu.be/P8do_h7Ksos?feature=shared
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Israel conflict to lead to higher oil volatility, Petrobras says
https://youtu.be/P8do_h7Ksos?feature=shared
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Just a simple note to let people know where I stand.
As with any event that takes place on this planet, there are some that are going to claim it is fake and others claim it is real.
I purposefully shared with you this morning information regarding the effects of War. This is where my attention will go.
No matter if this is real or made up, changes are being made in the trading ports right now that will affect our global economy.
That is what is real to me. I use the event of War to explain to you what happens to global economies during them.
No matter where you stand on this issue. The effects of the current event we now find ourselves in have already been put into motion.
Let's follow this deeper truth as we go along.
© Goldilocks
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Iraq is currently in the process of re-educating their Banks and people on the reuse of the Iraqi Dinar.
© Goldilocks
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A sample contract for the work agreement for internal transfers for the purpose of being approved by exchange companies for categories ( A and B ) and mediation companies that buy and sell foreign currencies in their future contracts. Please inform us of the name of the company you wish to contract with before signing.
:diamonds: To view the contract form...click here https://cbi.iq/static/uploads/up/file-169685292010955.pdf
https://cbi.iq/news/view/2438
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Economies are being mobilized and shifted into new positions regarding trade.
New networks are currently being upgraded. (Protocol 20)
Look for repricing events to take place in the commodity markets or caps to be released on their prices.
Quantum Technologies are awaiting implementation.
© Goldilocks
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Although you do not hear me speak as of late about our CBI contact, Dee and I still have conversations ongoing.
For his protection going forward, just look for information provided knowing it is supported in what is revealed through the new digital economy.
This is the new Intel we are really looking for...
© Goldilocks
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Just Listen For 5 Minutes, Your Body Will Have Clear Changes, Full Body Massage, Improved Health
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Ostium Labs, a cryptocurrency startup, raised $3.5 million in funding to develop a protocol for digitized commodities perpetual swaps.
It aims to attract both traditional commodities traders and crypto-native traders by offering transparent and flexible alternatives for trading assets like oil, bitcoin, foreign exchange pairs, and more.
This cryptocurrency startup aims to combine traditional commodities trading with the world of crypto, following the close of a $3.5 million fundraise.
The Block Link
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Backed Finance has successfully launched a tokenized government bond auction for a BlackRock ETF on an L2 network Base. The protocol allows companies to digitize assets like equities, commodities, art, or collectibles without going through traditional finance rails or their own legal processes. There has been increased interest in non-USD-denominated short-term bonds with high-interest rates and low crypto prices. However, U.S. investors are currently blocked from trading any of Backed's tokenized offerings.
https://decrypt.co/200389/backed-launches-tokenized-blackrock-etf-base-network
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We have a shortage of elements that many parts of the world are blind to.
The world is becoming a very divided place.
Ask yourself:
Who controls the supply chains, and where are most minerals and energy sourced?
We live in an era of the weaponization of assets.
Read: https://x.com/goldtelegraph_/status/1711460442357588344?s=46
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BREAKING NEWS
THE WORLD’S LARGEST COPPER PRODUCERS HAVE WARNED THAT THERE IS A LACK OF MINES UNDER DEVELOPMENT TO DELIVER ENOUGH OF THE METAL TO KEEP PACE WITH THE CLEAN ENERGY TRANSITION
Copper.
Read: https://x.com/goldtelegraph_/status/1711453370572210327?s=46
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Goldilocks' Comments and Global Economic News Sunday Evening 10-8-23
Goldilocks' Comments and Global Economic News Sunday Evening 10-8-23
Good afternoon Dinar Recaps,
Let's take a look at what war does to a country's currency. It causes inflation, the rise of interest rates, diversions in international trade, and the destruction of property, capital, and human lives. It's not a pretty picture at all.
There is an upside to war believe it or not. Interest rates go down at the end of the war to encourage economic growth, new treaty agreements are signed that involve economic benefits, and a fresh supply of new money to pay for the war it would help the creation of money for countries who have relied on the dollar for so long.
Goldilocks' Comments and Global Economic News Sunday Evening 10-8-23
Good afternoon Dinar Recaps,
Let's take a look at what war does to a country's currency. It causes inflation, the rise of interest rates, diversions in international trade, and the destruction of property, capital, and human lives. It's not a pretty picture at all.
There is an upside to war believe it or not. Interest rates go down at the end of the war to encourage economic growth, new treaty agreements are signed that involve economic benefits, and a fresh supply of new money to pay for the war it would help the creation of money for countries who have relied on the dollar for so long.
When the supply of money deflates, it is hard for investors to speculate and grow an economy inside their own Market causing prices to drop and the value of a currency to fall.
As you can see, price adjustments happen during and after a war that creates a shake up in the currency Market enough to formulate new price patterns within them and a fresh new supply of money.
New tokenized assets supported by gold and price pressures on local currencies around the world will create opportunities for those involved in these investments.
Humanitarian projects flourish during these times because of the need for money to flow once again.
Take a close look at the allies of both Palestine and Israel. Notice how many countries would be involved if this war were to escalate that just happened to fall into the investments most people in this room hold in currencies.
It is never a good trade-off to trade people's lives for money, but these are the effects of War and why exchange rates change during times of crisis.
© Goldilocks
https://www.gov.il/en/Departments/General/israeli_relations
https://worldpopulationreview.com/country-rankings/countries-that-recognize-palestine
Tekedia Link
Investopedia Link
Wikipedia Link
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Hong Kong Delays Retail Trading of Stablecoins Pending Comprehensive Policy
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D.C. Dispatch: Delegates weigh in on vacant chair and the Farm Bill
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IRS makes progress on implementing Inflation Reduction Act
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BLM needs to consult with tribal nations about proposed oil and gas reforms
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Israel Warns of Long War as it Retaliates in Gaza: Live Updates
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Are we about to go into a Global War? The answer to this question remains uncertain, but the defensive postures taking place in International trade relations has the potential to reset the global economy.
© Goldilocks
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Early next year, the Central Bank of Iraq will cease being a permanent intermediary for their currency and the electronic platform.
© Goldilocks
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🚨THE GREAT RESET⚠️WHY YOU MUST PREPARE NOW🚨XRP IS YOUR WAY OUT
https://youtu.be/W6aDSHefhIg?feature=shared
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ALERT! Silver READY to Run This Week as Banks Suffer MASSIVE Unrealized Bond Losses! (Bix Weir)
We are in the middle of a massive destruction of US Bank Capital.
Rising interest rates are destroying the value of US Bonds that are used as Tier 1 Capital for banks in their Fractional Reserve System!
Just a matter of time before the entire world finds out that the Emperor Has No Clothes!
https://youtu.be/Up2uGSC8-Po
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The energy minister of Saudi Arabia says OPEC+ is ready to wait months for insights from "actual data" before modifying policies in response to price fluctuations in the crude market.
Keyword:
Months.
This is going to be a wild and unpredictable ride.
Energy.
Read: https://x.com/goldtelegraph_/status/1711104966646198429?s=46
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💥ISO 20022 ARE YOU READY!💥XRP XDC XLM & MORE💥YOUR FINANCIAL FUTURE STARTS NOW
https://youtu.be/j-HuMBNQydw?feature=shared
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Goldilocks' Comments and Global Economic News Saturday Evening 10-7-23
Goldilocks' Comments and Global Economic News Saturday Evening 10-7-23
Good afternoon Dinar Recaps,
On November 1st, 2023, the Federal Reserve is updating their Payment System Risk.
This will be done by valuing securities collateral at a fair market value estimate. In other words, it will be based on asset type, credit rating, and more.
This update with new supporting figures are anticipated to account for volatility and prices ahead that are expected to deflate from an inflated Market.
Goldilocks' Comments and Global Economic News Saturday Evening 10-7-23
Good afternoon Dinar Recaps,
On November 1st, 2023, the Federal Reserve is updating their Payment System Risk.
This will be done by valuing securities collateral at a fair market value estimate. In other words, it will be based on asset type, credit rating, and more.
This update with new supporting figures are anticipated to account for volatility and prices ahead that are expected to deflate from an inflated Market.
Our markets and banking system are currently synchronizing their credit margins based upon a collateralized asset-based trading system.
Yes, our markets are about to go to real values. These banking updates will be what supports the new digital asset-based trading system.
© Goldilocks
FRB Discount Window Link
https://www.investopedia.com/terms/collateral-value.asp
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45% of US student loan borrowers expect to go delinquent when payments resume next month
US federal #studentloan payments will begin again this fall, and 45% of borrowers expect to "go #delinquent" on their loans when the federal forbearance period ends in October
This high percentage is due to skyrocketing living costs in the US, record-breaking inflation last summer, as well as rising housing costs in many cities and credit card debt recently reaching an all-time high
From October through September next year, interest will accrue on loan payments, so many borrowers are already spending less on daily living
Amid those financial pressures, 44% of borrowers say they believe the return on investment of higher #education in America is not worth the expense
The average cost of tuition, fees, and room and board at a four-year institution for the 2021-2022 academic year was about $30,000, according to the Education Department
MultiPolarMarkt Twitter Link
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Bond Market Meltdown Is Going to Get Worse Before It Gets Better
Business Insider Link
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Yield Curve Inversion Gets Dangerous When Dissed: John Authers
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$17,400,000,000 in US Treasuries Dumped by BRICS Nations China, Brazil and Saudi Arabia in One Month
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Lyn Alden: What No One Revealed About Bitcoin
https://youtu.be/a8ijCZWZImA?feature=shared
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Stellar Network Dashboard
https://dashboard.stellar.org/
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BRICS Bank Implementing 3-Year De-Dollarization Plan
https://watcher.guru/news/brics-bank-implementing-3-year-de-dollarization-plan
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SILVER ALERT! Freeing Silver From 170 Years of Price Suppression..NOW!! (Andy Schectman & Bix Weir)
https://youtu.be/Bn61Z_7jnWg?feature=shared
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Uranium prices have risen 50% this year. It is now at a 12-year high.
Nuclear…
Read: https://x.com/goldtelegraph_/status/1710703281021112625?s=46
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Goldilocks' Comments and Global Economic News Friday Afternoon 10-6-23
Goldilocks' Comments and Global Economic News Friday Afternoon 10-6-23
Good afternoon Dinar Recaps,
Central banks purchased 77 tonnes of gold in August, marking a 38% increase compared to the purchases made in July.
Central banks continue to stockpile gold.
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THEY LIED: China And Russia Is Ready To Dethrone The Dollar - Jim Rickards
Goldilocks' Comments and Global Economic News Friday Afternoon 10-6-23
Good afternoon Dinar Recaps,
Central banks purchased 77 tonnes of gold in August, marking a 38% increase compared to the purchases made in July.
Central banks continue to stockpile gold.
Read: https://x.com/goldtelegraph_/status/1710095239988543801?s=46
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THEY LIED: China And Russia Is Ready To Dethrone The Dollar - Jim Rickards
https://youtu.be/l_gXaecvvAg?feature=shared
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On August 25, 2023, the US Department of the Treasury issued proposed regulations that would impose new information reporting requirements for brokers that facilitate certain transactions involving “digital assets” – if finalized in their present form. The proposed regulations were issued to implement certain changes to Section 6045 of the Internal Revenue Code of 1986, as amended, made by the Infrastructure Investment and Jobs Act (IIJA) to improve tax administration and compliance with respect to trading and investing in digital assets.
Cooley News Link
Federal Register / Vol. 88, No. 166 / Tuesday, August 29, 2023 / Proposed Rules
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"More banks have announced partnerships with asset managers to place loans into private debt funds that offer investors better risk-adjusted returns than bank equity."
Banks are beginning to see profitable validity in their movement to higher Capital requirements of gold inside the banking system under Basel 3 Capital requirements being raised to pay a debt.
The use of private debt funds gives investors the opportunity to participate in creating a portfolio for customers needing loans through their involvement in providing them.
These collateralized loans are becoming preferred over equity-risk loans. On July 1st, 2023, companies and banks around the world shifted over to SOFR lending services. These changes are now becoming commonplace and expected to offer a return for the lender to the upside and everyone involved.
As these changes become more commonplace through real-world experiences, the transition that took place on July 1st of this year has begun transforming the mental and emotional trust of the banking system who utilizes these new mechanisms for lending services.
The transition of the banking system through tokenized assets supported by gold is beginning to gain traction. As the banking system and markets continue to merge inside Protocol 20, the upgrades taking place to connect these two major forces inside the economy will transform us into a collateralized lending service that has stood the test of time.
All roads lead to gold, and gold will set us free!
© Goldilocks
Euro Money Link https://www.prestigefunds.com/?s=09 https://dashboard.stellar.org/.
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Global trade has depended on paper documentation for hundreds of years, but trade companies are now turning to digital platforms for more secure and efficient record-keeping.
Four billion paper documents are circulating at any given time in the $25 trillion global cargo trade industry, Bloomberg reported on Tuesday, but less than 1% of those documents are fully digitized, (https://iccwbo.org/news-publications/policies-reports/standards-toolkit-for-cross-border-paperless-trade/) even though a single international transaction requires an average of 36 documents and 240 copies, according to the International Chamber of Commerce.
This leaves many companies vulnerable to fraud. A report by the International Chamber of Commerce and MonetaGo found that fraud in international trade can account for up to $2.5 billion in annual realized losses for lenders.
The Messenger Link
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Protocol 20 is also connecting Healthcare Payment Systems to the QFS in ways that are easier for the retail investor to understand.
"TrustCommerce, a Sphere company, is the leading financial technology company trusted by the nation’s largest health systems. The TrustCommerce integrated payment platform can reduce friction and facilitate secure, compliant patient payments. Using TrustCommerce to enhance the patient financial experience and untangle payment workflows, clients can securely process payments anytime and be connected with core software including EHRs and PMs."
I realize we talk a lot about the banking system and the markets, but it is important to note that Healthcare is and has payment services that are being connected to Quantum Technologies as well.
Everything is changing my friends.
© Goldilocks
Finance Yahoo Link
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"The rise of Open Banking has paved the way for a FinTech boom, allowing startups to create digital wallets and establish themselves as “Neo Banks”. This transformation has led to digital wallets becoming the dominant global payment method in e-commerce, commanding a 49% market share, as revealed in the Global Payments Report by Worldpay.
However, the real game-changer in the payments landscape is the growing popularity of account-to-account (A2A) payments, which have surpassed $525 billion in global transaction value in 2022, thanks to the availability of real-time payment capabilities."
Brite receives 60 million in funding for Account 2 Account payment services. This open banking revolution through Fintech is opening opportunities around the world at a significant pace.
It looks like the big boys and girls are getting involved in liquidating the digital banking system.
© Goldilocks
Robots News Links
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Central Bank Gold, who holds and added the most since 2020
Bullion Vault Link
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For the past two years, we have witnessed the new "digital asset-based trading system" being built from the ground up.
It has truly been an incredible undertaking. There are so many connections to everything that we do going forward.
The involvement of a community in the next economy will include 70% of the market through consumers. We have not been invited to the table before, but a revolution has occurred for those who have had their eyes wide open.
If you really want to understand what is meant by the words "where we go one we go all," you are going to have to take a closer look at the changes that are currently going on and have been going on since January the 1st, 2022.
Information on the banking system has come out every single day since January 1st, 2022. We have been privileged to notice and understand these changes. It is an opportunity never given to people in the past.
Anyone truly interested in how the new banking system works for and with their humanitarian projects going forward will have an understanding of the concepts presented in the last two years.
We have a little bit further to go, but I just wanted to thank you for your efforts to embrace a new world with understanding and with hope.
May God bless you on the road ahead as you take this knowledge with you into everything that you do from who you are.
© Goldilocks
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Vladimir Putin suggests that BRICS member nations should work towards establishing a SINGLE payment mechanism and transition to transactions in national currencies.
He also said that the global financial system based on the dollar is gradually collapsing.
Hard assets vs. paper.
This week,
Russia said it will start purchasing foreign currency and gold, driven by a surge in energy revenue that has surpassed the budgetary targets.
Read: https://x.com/goldtelegraph_/status/1710364974097588273?s=46
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Goldilocks' Comments and Global Economic News Thursday Afternoon 10-5-23
Goldilocks' Comments and Global Economic News Thursday Afternoon 10-5-23
Good afternoon Dinar Recaps,
The United Nations is essentially recommending to central banks worldwide to reconsider the 2% inflation target to prevent a full-blown recession.
The script continues to get better by the day.
What a time to be alive.
Goldilocks' Comments and Global Economic News Thursday Afternoon 10-5-23
Good afternoon Dinar Recaps,
The United Nations is essentially recommending to central banks worldwide to reconsider the 2% inflation target to prevent a full-blown recession.
The script continues to get better by the day.
What a time to be alive.
Read: https://x.com/goldtelegraph_/status/1709709628442075591?s=46
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Dubai’s move to oversee stablecoins should ‘bring certainty’ to regulatory grey area
Pinsent Masons Link
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CBDC lays foundation for new global monetary system: French central bank
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"Project Atlas combines on- and off-chain information to create a data platform that allows policymakers and central banks to analyse international flows of cryptoassets."
This is a Bank of International Settlements project that will analyze Global Crypto Flows between two International entities.
It will provide a "proof of concept" or a testing of financial potential capable of giving authentication to move forward in a trade.
© Goldilocks
BIS Link
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"UBS Asset Management Launches Tokenised VCC Fund Pilot in Singapore"
VCC is a Venture Capital Corporation that invests in emerging and startup companies.
These Quantum Technologies are beginning to merge with one another as the Protocol 20 upgrade continues to bring these companies together.
This is one of many companies under the umbrella of Project Guardian orchestrating the use of tokenized assets.
© Goldilocks
Regulation Asia Link
https://www.acra.gov.sg/business-entities/variable-capital-companies
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Singapore, 5 October 2023… The Bank for International Settlements (BIS) and central bank partners today launched Project Mandala, which explores the feasibility of encoding jurisdiction-specific policy and regulatory requirements into a common protocol for cross-border use cases such as foreign direct investment, borrowing and payments.
https://twitter.com/MAS_sg/status/1709831027693424808?t=zyvqec06HQ0DMwBq1Xe4vA&s=09
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Banking Announcement:
Basel Committee on Banking Supervision recently gave a good report on the Basel 3 implementation taking place around the world.
"The Basel III implementation dashboard shows progress by Singapore, South Korea, Japan, Australia, Indonesia and India."
© Goldilocks
https://www.regulationasia.com/bcbs-reports-good-progress-on-basel-iii-implementation/
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"Functions of Hong Kong Exchanges and Clearing Limited (HKEx)
The company is a global platform for raising capital for issuers based in Hong Kong, throughout China, and around the world. Its main services include listing, trading, clearing (https://www.investopedia.com/terms/c/clearing.asp), market data, reference prices, and connectivity."
Banking Announcement:
On October 9th, 2023, the HKEX Settlement acceleration platform known as HKEX Synapse will launch an improved version of their post-trade efficiencies.
© Goldilocks
Regulation Asia Link
Investopedia Link
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Chinese payment service aiming to enter Russian market – RBK
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There is a clear shift from program developments in the new digital economy to digital payment systems being interfaced with one another. (Protocol 20)
More articles are starting to come out on Basel 3 implementation as well around the world. These new Capital Requirements will provide our tokenized assets with real support and real values in the commodity sector of the markets.
It is important to note that we are witnessing more involvement with the BIS, IMF, and the World Bank in these new projects. These entities are the great influencers that will bring about the Bretton Woods 3 agreement.
© Goldilocks
https://dashboard.stellar.org/
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World Bank warns of sluggish growth, high inflation - Business
https://www.dawn.com/news/1779253
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IRAQI NEWS BREAKING NEWS CBI ANNOUNCEMENT!
We talked about the Iraqi Dinar going International about a week or two ago.
January 1st, 2024 is when all of this begins. Will it be a reinstatement or an RV? We are about to find out.
It is starting to be understood how important this move is.
© Goldilocks
https://youtu.be/hBBDXqjaRQE?feature=shared
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👆 Not calling it as an RV date, but the changes sure do look good for something to begin happening.
© Goldilocks
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Department of Investments and Foreign Transfers, Mazen Sabah Ahmed, issued a clarification regarding the statements attributed to him in Reuters, saying that they included journalistic formulations that were reported by the agency in an inaccurate form. Ahmed confirmed:
The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.
There was no mention in the press interview of expectations that the exchange rate would reach 1,700, and that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and there are no indications that the exchange rate in the parallel market will reach this level. On the contrary, there are measures being taken that will contribute to reducing the difference.
The reforms undertaken by the Central Bank of Iraq aim to achieve compliance of the bank and the banking system in general with international compliance standards, and to prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.
The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee the sustainability of the business and does not in any way include citizens’ balances in US dollars.
Central Bank of Iraq
https://cbi.iq/news/view/2432
~~~~~~~~~~
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Goldilocks' Comments and Global Economic News Wednesday Evening 10-4-23
Goldilocks' Comments and Global Economic News Wednesday Evening 10-4-23
Good afternoon Dinar Recaps,
"TIME IS RUNNING OUT: 100 DAYS LEFT UNTIL CESOP"
January 1st of 2024, payment service providers are going to have to record electronically cross-border payments to the Federal Central Tax Office (BZSt) on a quarterly basis.
Central Electronic System of Payment Information (CESOP) will require Traditional Banks, Savings Banks, Credit Unions, eMoney Institutions, and Markets to begin reporting their daily electronic payments.
Goldilocks' Comments and Global Economic News Wednesday Evening 10-4-23
Good afternoon Dinar Recaps,
"TIME IS RUNNING OUT: 100 DAYS LEFT UNTIL CESOP"
January 1st of 2024, payment service providers are going to have to record electronically cross-border payments to the Federal Central Tax Office (BZSt) on a quarterly basis.
Central Electronic System of Payment Information (CESOP) will require Traditional Banks, Savings Banks, Credit Unions, eMoney Institutions, and Markets to begin reporting their daily electronic payments.
They have noted in this article that no postponement of this date will be accepted. It is important to have accurate records for tax purposes and accounting references to recording payments.
Card payments, SEPA credit transfers, and many other payment transaction products will be recorded. The Government records data on everything.
It helps in preparing tax audits, supports companies in processing their data, and formulates new protocols for the road ahead through Artificial Intelligence.
© Goldilocks
Twitter Link
~~~~~~~~~~
"Unresolved WTO disputes pile up amid growing disregard for trade rules"
We have a growing concern over disputes between countries regarding lack of clarity in new regulatory protocols.
There are so many changes that are going on around the world from a World Reserve Currency movement to trading in local currencies, new rules and regulations that are changing the landscape of payment systems electronically, and more.
The World Trade Organization (WTO) is currently going through reforms to deal with these inconsistencies brought on by Covid-19 restrictions in the shipping industry to where we are now.
Protocol 20 brings in global connections to Quantum Technologies/digital networks around the world. Hopefully, these new upgrades we are currently going through will provide much-needed direction for the WTO.
© Goldilocks
Daily Sabah Link
~~~~~~~~~~
New Satellite Track and Trace Solution for Logistics Industry is on the Way - Via Satellite
"WISeKey, a global cybersecurity company, is teaming up with WISeSAT, Fossa Systems, and BA Lab the technology division of Bernardino Abad SL has come together to create this new solution targeting smart containers. The partnership agreement was announced Oct. 2."
Several companies have joined forces to bring in a new track-and-trace solution for the logistics industry. This solution is achieved through the use of satellite technology.
The logistics industry is going through digital reform integrations. This Track and Trace solution for companies will give guidance and direction on the receiving and shipment of goods and services.
It will provide what and who is needed for pickup and delivery across the globe through artificial intelligence making the efficiency of global trade faster and run with greater adherence to elimination of waste in payment resources.
© Goldilocks
Satellite Today Link
~~~~~~~~~~
Why Banks Can't Ignore ISO 20022: A Perspective From Fintech Expert Rishi Munjal TechBullion Link
~~~~~~~~~~
BIS completes CBDC cross-border trading and settlement test with three central banks
~~~~~~~~~~
UBS goes live on Broadridge's New Distributed Ledger Sponsored Repo Solution
~~~~~~~~~~
B2B Payments Market Size to Surpass USD 3,795.34 Billion Growth by 2032, Exhibit a CAGR of 9.38% | Expansion of International Trade
~~~~~~~~~~
Recently, the Federal Deposit Insurance Corporation (“FDIC”) released its annual Summary of Deposits (“SOD”) data, as of June 2023 (available here).
The annual SOD data is the result of the FDIC’s annual survey of branch office deposits for all FDIC‐insured institutions, and “provides deposit totals for each of the more than 77,000 domestic offices operated by more than 4,600 FDIC‐insured commercial and savings banks, savings associations, and U.S. branches of foreign banks.”
The SOD data plays a crucial role in the competitive analysis of bank mergers, as it is the SOD data that underlies the market share information and Herfindahl‐Hirschman Index (“HHI”) calculations considered by the regulators in any given banking market.
As we have been discussing for about the last year and a half, both the banking agencies and the DOJ are considering updates to their respective merger guidelines. This latest batch of SOD data is likely to be part of what the DOJ and the banking agencies will look at in their deliberations.
https://www.jdsupra.com/legalnews/fdic-releases-sod-data-2974202/
~~~~~~~~~~
Do you see the number of Quantum Technologies going live as we speak?
The articles shared in this room today bear witness to a new Technological World ahead of us that will change the landscape of business forever.
Protocol 20 will bring these Technologies together and formulate pathways into the future through Artificial Intelligence.
If you have not been keeping up with where we are in this upgrade into Protocol 20 on the Stellar Network, here is a link that will allow you to watch it move us from an old banking systematic set of protocols to new digital procedures.
© Goldilocks
https://dashboard.stellar.org/
~~~~~~~~~~
💥ISO 20022 LEAD TO GLOBAL SHOCK💥XRP XDC XLM & MORE - INVEST IN THE FUTURE NOW
https://youtu.be/6FvIVnSJ1IA?feature=shared
~~~~~~~~~~
~~~~~~~~~~
CBDC frameworks must guard user privacy, monetary freedom — BIS chief
Coin Telegraph Link
~~~~~~~~~~
SEC can’t appeal judge’s Ripple decision
Banking Dive
Goldilocks pointed at this one!
~~~~~~~~~~
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Goldilocks' Comments and Global Economic News Tuesday Afternoon 10-3-23
Goldilocks' Comments and Global Economic News Tuesday Afternoon 10-3-23
Good afternoon Dinar Recaps,
"The U.S. bond market is calling a moment: the age of low-interest rates and inflation that began with the 2008 financial crisis has ended. What follows is unclear."
"Higher rates going forward would mean the Fed will have more room to adjust policy through tweaks in interest rates."
Goldilocks' Comments and Global Economic News Tuesday Afternoon 10-3-23
Good afternoon Dinar Recaps,
"The U.S. bond market is calling a moment: the age of low-interest rates and inflation that began with the 2008 financial crisis has ended. What follows is unclear."
"Higher rates going forward would mean the Fed will have more room to adjust policy through tweaks in interest rates."
Recently, the Fed has been selling the bonds it bought. A move that slowly shrinks its balance sheet. This tool allows the Federal Reserve to lower the money supply and give more value to the remaining currency available.
In an age of dedollarization, the above tool allows tweaks to the system that balances the economy as the dollar flows in from other countries.
Currently, the FED is calling for a higher for longer model of action on interest rates that lowers the price of gold and raises the price of cryptocurrencies.
This move would give the digital economy a chance to rise in value comparatively to gold and paper money.
The raising of value in stablecoins that represents a country's paper currencies increases demand and money velocity through the speed of which digital currencies can move in cross-border international trades.
This stabilizing attempt on the economy is possible because of the new liquidity that would be brought to the market that's been hidden in the crypto space for over a decade.
It is a move that would give a real value to currencies around the world creating an organic raising of values for some countries' currencies and lowering the values for others.
It would level the playing field by creating room for growth inside the new digital asset-based trading system.
It is a Global Currency Reset in the making.
© Goldilocks
https://recentlyheard.com/2023/10/02/us-bond-market-signals-the-end-of-an-era/
~~~~~~~~~~
"The Commodity Futures Trading Commission today published a proposed rule that would amend CFTC Regulation 4.7, a provision that provides exemptions from certain compliance requirements for commodity pool operators (CPOs) with respect to commodity pool offerings to qualified eligible persons (QEPs) and for commodity trading advisors (CTAs) with respect to trading programs advising QEPs."
"A commodity pool is a shared private pool of money from multiple participants." This current regulation 4.7 mentioned in this article has not been upgraded since 1992. It is currently being amended to speculate in futures, swaps, or options markets. A commodity pool operator (CPO) manages funds for the pool.
Regulation 4.7 currently moves towards a proposal stage where the rule is solidly formed before it is sent to the final stage for a final rule.
These articles today explained how the Retail Market regarding Foreign Exchange rules and regulations are in their final stages. We will continue to follow up on these rules and regulations as they come to their final conclusions.
© Goldilocks
https://www.cftc.gov/PressRoom/PressReleases/8802-23
~~~~~~~~~~
We do have a Retail Market Foreign Exchange Transaction Bill. Unless we have amendments to it after the community pool regulation 4.7 is done, we will be good to go on regulations regarding foreign currency exchanges in the Retail Market.
© Goldilocks
Final Rule Regarding Retail Foreign Exchange Transactions
~~~~~~~~~~
The final run-up on the markets is upon us once the dust clears on these legs down.
This is where gold and the dollar will run up together before the dollar falls.
We have spoken about it over the last two years as being the final move before the markets go into real values.
© Goldilocks
https://youtu.be/nV1gNaPPTYM?feature=shared
~~~~~~~~~~
UBS Group AG, financial holding company, announced the launch of a pilot project to tokenized money market fund.
Money market funds are investment products focused on short-term investments. UBS believes that their tokenization will increase liquidity and attract more potential clients. The test will take place on the UBS Tokenize platform, developed on the Ethereum blockchain.
The bank’s pilot is part of Project Guardian, a joint initiative between the Monetary Authority of Singapore and the Japan Financial Services Authority.
https://crypto.news/ubs-asset-management-launches-pilot-of-tokenized-fund/
~~~~~~~~~~
Stablecoins Simplified: The Role and Relevance of Pegged Cryptocurrencies
~~~~~~~~~~
CFTC Chair Highlights Crypto Enforcement Actions and Calls for Legislative Update – Cryptopolitan
https://www.cryptopolitan.com/cftc-chair-on-crypto-legislative-update/
~~~~~~~~~~
Ackman’s desire to potentially work with X has grabbed the attention of investors, with questions about the impact on coins like Dogecoin. ...
Bill Ackman, CEO of Pershing Square Capital Management, has expressed interest in collaborating with Elon Musk's X social media platform.
Ackman recently announced the regulatory approval of its investment vehicle, SPARC, by the SEC.
The potential collaboration between Ackman and X has raised questions about its impact on the cryptocurrency market, particularly on Dogecoin.
Dogecoin, favored by Musk, could see market changes and a potential price increase if the collaboration takes place.
The current price of Dogecoin is $0.062, with a trading volume of over $238 million.
The article presents a positive sentiment regarding the potential collaboration between Bill Ackman and Elon Musk's X social media platform. It highlights the excitement and curiosity among investors about the impact on the cryptocurrency market, specifically Dogecoin.
https://minmax.ai/news/news-dogecoin-twitter-ipo-dogecoin-x
~~~~~~~~~~
The governor of the French central bank has announced that Euro area central banks will unveil plans for a wholesale central bank digital currency in the coming weeks.
Here it comes…
Read: https://x.com/goldtelegraph_/status/1709278611742880073?s=46
~~~~~~~~~~
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Goldilocks' Comments and Global Economic News Late Monday Evening 10-2-23
Goldilocks' Comments and Global Economic News Late Monday Evening 10-2-23
Good evening Dinar Recaps,
Digital Banking Announcements:
* Payments-technology platform Pidgin said it has agreed to provide real-time payment capability to retail and commercial account holders at Exchange Bank.
* AffiniPay LLC, a payments platform for professional services firms, has sold its accounting software unit, Soluno, to ActionStep, a provider of practice-management technology. Terms were not disclosed.
Goldilocks' Comments and Global Economic News Late Monday Evening 10-2-23
Good evening Dinar Recaps,
Digital Banking Announcements:
* Payments-technology platform Pidgin said it has agreed to provide real-time payment capability to retail and commercial account holders at Exchange Bank.
* AffiniPay LLC, a payments platform for professional services firms, has sold its accounting software unit, Soluno, to ActionStep, a provider of practice-management technology. Terms were not disclosed.
* The U.S.-based blockchain firm Coinbase Inc. announced it has received a Major Payment Institution license from the Monetary Authority of Singapore, allowing the company to expand its services in that nation.
* Payments platform Stripe Inc. has attracted controversy after cutting off services to a United Kingdom-based merchant that sells legal air rifle accessories.
* RevoluGroup Canada Inc., the firm behind the RevoluPay mobile payments app, appointed Simon Tsu chief financial officer, taking on the duties of outgoing CFO Jason Tong and corporate secretary Derek Sobel, both of whom resigned on Sept. 30.
Digital Transactions Link
~~~~~~~~~
Expect new crypto regulations to follow Bitcoin ETFs - Summa Money
~~~~~~~~~
LIVE! Wall Street SUPERBANK JP Morgan WARNS of Coming "FINANCIAL ACCIDENT." Mannarino
~~~~~~~~~
Wells Fargo closes 10 more bank branches - full list of affected states
The Express Link
~~~~~~~~~
GOLD & BATTLE FOR CONTROL?
A tug-of-war for the CONTROL over #gold pricing is starting to play out.
The countries of the Eastern world have been amassing physical gold for numerous years, while the majority of Western nations continue to only add to their debt pile.
Last year, Russia's Finance Ministry said it was critical to create the new Moscow World Standard to normalize the functioning of the precious metals industry and have an alternative to the LBMA.
This week, we saw a surge in gold prices in China, leading to a record premium over international prices, exceeding $100 an ounce.
Read the full article: https://x.com/goldtelegraph_/status/1708165335441125862?s=46
~~~~~~~~~
Jamie Dimon Says JPMorgan can handle 8% interest rates...
America's largest bank.
He says this as many commercial banks sit with tens of billions in unrealized losses on their books.
In that environment, we see more financial accidents.
Read: https://x.com/goldtelegraph_/status/1708975767017902544?s=46
~~~~~~~~~
Continuing on the bankruptcies theme:
US small business bankruptcies rising at worst pace since pandemic
WSJ Link
~~~~~~~~~
US trucking employment is plunging
Historically, 4 out of 4 past declines have marked the beginning of a
~~~~~~~~~
ISO 20022.... LET'S DO IT on X
💥SWIFT NOVEMBER 2023 NETWORK CHANGES TO SUPPORT DIGITAL ASSETS FOR SECURITIES AND FOREIGN EXCHANGE TRADES 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀💥
IRS Code Title 12 USC 531 Exemption of taxation ( us code.house.give ) 💥💥💥. In effect October,1, 2023.
~~~~~~~~~
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Goldilocks' Comments and Global Economic News Monday Evening 10-2-23
Goldilocks' Comments and Global Economic News Monday Evening 10-2-23
Good afternoon Dinar Recaps,
"The digital currency has been up nearly 70 percent since the start of 2021, driving the entire crypto market to a combined $2 trillion in value."
It has been the stablecoins that have created a great deal of attention in finalizing the crypto regulation space. We already know that the SEC will govern the Securities coins and the CFTC will govern the coins considered as commodities. In this final phase of development within a regulatory framework, the same rules that apply to the dollar are expected to be applied to the crypto space.
Goldilocks' Comments and Global Economic News Monday Evening 10-2-23
Good afternoon Dinar Recaps,
"The digital currency has been up nearly 70 percent since the start of 2021, driving the entire crypto market to a combined $2 trillion in value."
It has been the stablecoins that have created a great deal of attention in finalizing the crypto regulation space. We already know that the SEC will govern the Securities coins and the CFTC will govern the coins considered as commodities. In this final phase of development within a regulatory framework, the same rules that apply to the dollar are expected to be applied to the crypto space.
The growth and use of these coins going forward will increase the adoption phase to a point of solid values can be formed.
It looks like we are about to witness digital currencies move to real values as we upgrade to Protocol 20 in the banking system by the end of this month, and into, November.
In the month of November and going forward, we should start seeing new values in the Crypto Market due to a higher demand for them.
Assuming all regulatory rules are finalized and approved, these new values will begin to create price pressures on the assets they represent and the commodity market that supports them.
© Goldilocks
Patch Link
https://agilitypr.news/Proposed-Federal-Cryptocurrency-US-Reg-36035
~~~~~~~~~
"The Gold-Backed Digital Tokens (GBDT) will be used for transactional purposes only in order to ease payments."
Zimbabwe's new gold back digital tokens will be utilized for payment services alongside everyday use of their local currency.
This is a gradual move toward the retail sector from wholesale markets. Either way, the introduction of a gold backed currency inside the local Currency Market of Zimbabwe will have its effects.
It is important to watch the development of supply and demand in this area of the country for these tokens running alongside the local currency of Zimbabwe.
A move into a stable "real" value coin because of the supporting nature of gold will cause a fluctuation in price for the local currency over time.
© Goldilocks
The Zimbabwei Mail Link
~~~~~~~~~
OpenTrade adds to the growing momentum around tokenizing real-world assets, enabling secured lending against treasury bills using USDC, allowing lenders to accrue returns and operate completely on-chain without modifying their existing wallets or custodians. The release of this product echoes the growing interest in tokenizing real-world assets - today, the tokenized Treasuries market stands at a staggering $668 million, which is a sixfold increase from the start of 2023.
https://www.techopedia.com/opentrade-launch-tokenized-treasury-bonds-on-circle
~~~~~~~~~
TEHRAN, Sep. 30 (MNA) – With Iran's membership in the BRICS, it will be possible for the country to use the group's "BRICS Pay" electronic banking communication system instead of the SWIFT system, the Iranian parliament speaker says.
MEHR News
~~~~~~~~~
"Singapore Court Rules Against JPMorgan in Trade Sanctions Lawsuit.
The Court of Appeal ruled that JPMorgan's use of a sanctions clause to withhold payment on letters of credit was not contractually justified."
It looks like we have a transfer of power taking place inside a level playing field system.
BRICS?
© Goldilocks
Business Times Link
~~~~~~~~~
THE DEBT CLOCK KEEPS GETTING BETTER AND BETTER!
Our Republic can be easily seen in the new categories
The NEW categories say “USA” instead of “US”
“US” is the Corporate US Government
“USA” is our Republic
The NEW “USA TREASURY DOLLARS 2025” has a map of our Nation next to the header. Zoom in!
Our Republic is outlined in Gold.
The US M2 MONEY SUPPLY NOW is decreasing rapidly. This category has a pyramid and Federal Reserve Dollars in the background so we know it’s the Illuminati and Foreign Elite.
They’re losing their money
However, the NEW category of US M2 $ TO USA $ RATIO NOW is ….… 1 7 7 6 !
Haha! Hysterical!
https://t.me/c/1545617426/69572
~~~~~~~~~
Unleashing the Future: Advancements in Fintech Technology
~~~~~~~~~
Copper.co, one of the industry’s leading digital asset custodians, is pleased to announce an enhancement to its existing integration with Stellar, a decentralized, open-source blockchain network designed to connect financial systems and democratize economic participation.
This enhancement allows institutional clients to trade an even broader range of tokens on the Stellar blockchain, including Stellar USDC.
~~~~~~~~~
BRICS Vision 2030: Dominate Oil, Accumulate Gold & Suffocate US Dollar
https://watcher.guru/news/brics-vision-2030-dominate-oil-gold-us-dollar
~~~~~~~~~
In view of the presence of a number of headquarters of exchange companies under the two categories ( A , B ) and their branches on floors inside buildings, and for the purpose of ensuring that customers can identify their companies, it was decided to give them a period of (6 ) working months for the purpose of moving the headquarters of their companies to headquarters that suit the nature of their activity, and to provide the services that They require that they be in known, easily accessible locations.
https://cbi.iq/news/view/2427
~~~~~~~~~
Chase closes down more branches than any US bank and will shut down four more in October after 3,000 industry closures
~~~~~~~~~
Bitcoin Lightning: The Future Of Offline Peer-To-Peer Cash?
Fortress Link
~~~~~~~~~
For the last decade, a great deal of money has gone into the crypto space. When Protocol 20 tokenizes all of our assets through this current upgrade of the banking system, the activation of these networks will give money to the banking system it has lost for the last 10 years as investors have hidden their money in decentralized systems.
In a real way, Central Banks had to make a move into a decentralized digital asset-based trading system to survive.
The merging of money from the traditional banking system and the new digital banking system money will reset the economy. It will give new life to assets on the market drying up with liquidity, and set, a real value to the price of gold.
These three sectors of the market will work in unison to sustain new innovative ways of approaching a payment system that has long been outdated.
Look for third-party payment systems/apps ie US Debt Clock and more begin to form new price values with these new digital mechanisms to enhance their ability to give on-the-spot readings of the market as they are happening.
© Goldilocks
~~~~~~~~~
👆 This includes third-party apps like crypto.com, uphold.com and others.
~~~~~~~~~
An Overview of H.R. 4766, Clarity for Payment Stablecoins Act
~~~~~~~~~
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Goldilocks' Comments and Global Economic News for October 1st
Goldilocks' Comments and Global Economic News for October 1st
Good evening Dinar Recaps,
EURC Goes Live on the Stellar Network: Revolutionizing Global Payments
We are thrilled to announce a groundbreaking development in the world of digital currencies and global payments. EURC (Euro-Backed Digital Currency) has officially launched on the Stellar Network, ushering in a new era of real-time, global transactions.
This momentous collaboration between Circle and the Stellar Development Foundation (SDF) brings forth a fiat-backed stablecoin that is set to transform the way businesses and individuals engage in cross-border transactions.
Goldilocks' Comments and Global Economic News for October 1st
Good evening Dinar Recaps,
EURC Goes Live on the Stellar Network: Revolutionizing Global Payments
We are thrilled to announce a groundbreaking development in the world of digital currencies and global payments. EURC (Euro-Backed Digital Currency) has officially launched on the Stellar Network, ushering in a new era of real-time, global transactions.
This momentous collaboration between Circle and the Stellar Development Foundation (SDF) brings forth a fiat-backed stablecoin that is set to transform the way businesses and individuals engage in cross-border transactions.
Crypto News Bytes Link
Last night from 7pm - 11pm ET]
Live updates: House passes bill to keep government open for 45 days, sends it to Senate
~~~~~~~~~
Debit Credit Card Rules: 2 new debit card, credit card rules applicable from October 1, 2023
~~~~~~~~~
Credit Card portability: How customers can change their card network from Visa to
MasterCard to RuPay or any preferred network; Check details.
“The central bank in its draft circular has said card issuers, such as Visa, MasterCard, RuPay, shall issue cards across more than one card network and should provide an option to the customers to choose any one among the multiple card networks.”
“RBI's new rules on recurring payments, which were extended from March 31 this year to the end of September, kick in now. So starting October 1st, you will have to complete an additional factor authentication for auto-debits for any payments upto Rs 5,000.”
“In the Budget this year, certain changes were announced to the system of Tax Collection at Source (TCS) on payments under the Liberalised Remittance Scheme (LRS) and on overseas tour program packages. These were to take effect from 1st July 2023. It was also announced in March that credit card payments would be brought under the LRS. Numerous comments and suggestions were received which have been carefully considered.”
The UPI now enables customers to choose which network and which provider card service they want for payments. This is just part of the new features the RBI is integrating starting 10-1-23. Other new measures such as multi multi-authentication for payments and new Tax Collection at Source or TCS percentages. All of this was part of the measures put in place by the Ministry of Finance in March of this year.
© Marie G
Courtesy of Goldi :)
CNBC TV Link
Economic Times Link
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1936105
~~~~~~~~~
BREAKING: U.S. Senate approves government funding for 45 days, averting a shutdown.
@GeneralMCNews
~~~~~~~~~
👆 This should give us enough time to finish the upgrade from protocol 19 to protocol 20 in the banking system.
~~~~~~~~~
BREAKING: Terrorist attack in Turkey — Two terrorists carried out a bomb attack outside the ministry buildings in Ankara with one of them blowing himself up while the other was "neutralized" by authorities.
@GeneralMCNews
~~~~~~~~~
👇 [TODAY] 👇
~~~~~~~~~
FOR IMMEDIATE RELEASE
2023-216
Washington D.C., Sept. 29, 2023 —
The Securities and Exchange Commission, Municipal Securities Rulemaking Board (MSRB), and Financial Industry Regulatory Authority (FINRA) today announced that registration is open for a virtual Compliance Outreach Program for municipal market professionals. The free webcast is open to the public and will take place on Thursday, December 7, 2023, from 10:30 a.m. to 4:30 p.m. ET.
https://www.sec.gov/news/press-release/2023-216
Banking Announcement:
"The SEC has now finalized its much-anticipated rules for public companies’ cybersecurity disclosures."
These rules are currently coded under the Securities Exchange Act of 1934 and the Securities Act of 1933.
This is very important to the Foreign Currency Exchange Market. It allows cross-border international trading opportunities to move money around the world securely.
This is expected to go into effect the month of December 2023.
© Goldilocks
Eye On Privacy Link
~~~~~~~~~
"On June 9, 2023, the Securities and Exchange Commission (SEC) approved the New York Stock Exchange’s (NYSE) and Nasdaq Stock Market’s (Nasdaq) proposed clawback listing standards, including the amendments that delayed the effective date of the rules to October 2, 2023. Listed companies now have until December 1, 2023 to adopt Dodd-Frank-compliant clawback policies."
Companies who misrepresent themselves through financial statement enclosures can be subject to clawback rules and financial compensation for those affected.
This is very important to all companies, but those who are in the midst of a foreign currency exchange will see its value if needing to be enforced.
This goes into effect on December 1st, 2023.
© Goldilocks
Shearman Link
~~~~~~~~~
Stocks, Bonds, and CRE Face QT
Fundamentals for markets have boiled down to QE or QT since 2009. Now there’s QT, a lot of QT, globally, to battle the worst inflation in decades.
https://youtu.be/IeT6iwbs-6g?feature=shared
~~~~~~~~~
Kenya to Trade with African Countries Using Local Currency as Shilling Continues to Weaken
~~~~~~~~~
No shutdown: Biden approves 45-day US budget proposal
US President Joe Biden signed a law approved by Congress, which will allow to continue funding the government for 45 days, until November 17, the White House informed.
At the same time, the law does not include the allocation of funds for Ukraine's needs.
Biden himself has previously stated that Washington "under no circumstances" can afford to stop supporting Kiev.
The signing of the law eliminated the threat of a government shutdown in the US, which otherwise would have come as early as on October 1.
~~~~~~~~~
Banking Announcement:
SWIFT, a global banking network, is also testing blockchain interoperability with Chainlink and other financial institutions.
Chainlink creator Sergey Nazarov stated that the collaboration with SWIFT has been successful, achieving key goals such as using SWIFT messages to initiate blockchain events and connecting private bank chains to public chains for transactions.
Daily Hodl Link
~~~~~~~~~
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