Goldilocks' Comments and Global Economic News Saturday Evening 2-24-24

Goldilocks' Comments and Global Economic News Saturday Evening 2-24-24

Good Evening Dinar Recaps,

Meet the new HIPAA requirement...

"Requirement 4.2 of PCI DSS mandates that the Primary Account Number (PAN) must be protected with strong cryptography during transmission. This directly aligns with ISO 27001:2022's control A. 8.24, which calls for the use of cryptography to protect information."

Patient confidentiality is a must in the healthcare setting. As you can see, exchange of information on the new Quantum Financial System that includes hospital settings and such are a must.

The new version of PCI DSS (4.0) will be mandatory from March 31, 2024. It will introduce more requirements needed to secure patient information during the transfer of a diagnosis and payments from various medical settings.

Securing autonomy between a patient and doctor is of prime importance in healthcare ethics. I sat on several ethics committees in my work inside the healthcare setting for years, and it is difficult enough to get patients to open up to doctors what's really going on with them.

This is why autonomy and security information in the healthcare setting is the number one ethical priority for those who work in healthcare.   It looks like hospitals and other healthcare settings are working to secure their payment system on the QFS.   Texas Health Law   Isms     Vanta

© Goldilocks

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On March the 6th, 2024, the CFTC is having a follow-up meeting with the Global Markets Advisory Committee.

The GMAC is a subcommittee that represents the Digital Market Financial System. This meeting is expected to be a time for them to discuss recommendations on their findings so far and move forward with the Digital Financial System.

The purpose of this meeting is to "enhance the resiliency and efficiency of global markets, including increased liquidity in U.S. Treasury markets and the upcoming transition to T+1 securities settlement."

My understanding is that instant settlements are already being worked on. It is also my understanding from conversations with developers that the move from T+1 settlements to T+0 will not take long.

As they are stating in this next meeting, they're going to discuss liquidity in the US Treasury Markets. More and more millionaires and billionaires are retrieving their funds from the stock market and moving into digital economy assets.

This move encompasses assets tokenized and supported by gold. It provides investment opportunities many of these whales are looking for to move their money.

We are witnessing a ground-floor opportunity for those who decide to participate inside the new digital economy. Traders pray for such opportunities as this we are witnessing.

As we move into legislative regulations for protocols inside the crypto economy, stablecoins to pay for these tokenized assets will be coming into focus.   CFTC

© Goldilocks

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Zoniqx partners with Ripple to revolutionize asset tokenization on the XRP Ledger.

Integration leverages XRPL's blockchain infrastructure for enhanced efficiency and accessibility.

The collaboration marks a milestone in setting new standards for digital asset management. CoinGape

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Billionaires Dumping Stocks, Economist Knows Why - Safe Retirement Strategies
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February 20 was a momentous day for the Stellar (XLM) ecosystem, marking a shift from its exclusive role as a payment protocol to a platform capable of hosting Decentralized Applications (DApps).

This pivotal event was the deployment of the first smart contract on the Stellar mainnet hours after the successful implementation of Protocol 20.   Times Tabloid

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The Future of Securities Tokenisation and Crypto Regulation | RegulationAsia

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Goldilocks' Comments and Late Global Economic News Friday Evening 2-23-24

Goldilocks' Comments and Late Global Economic News Friday Evening 2-23-24

Good Evening Dinar Recaps,

Currently, we have a lot of stocks that are doing what is called "reverse stock splits." I won't go into detail on what this is, but it is simply reducing the number of stock shares that are provided on the stock market by a company.

This gives a company the ability to manipulate their price. It makes a company look like they are doing better than they really are.  Professional traders view this as a negative move to keep their company from being delisted from the markets and sold as penny stocks.

It is an indication that this particular stock has reached a bottom, and the company is attempting to artificially raise its value through a reverse stock split.

Bottom line, the stock market just simply is not doing as well as it appears, and you do have to know what you're doing to be on it at this stage. This is one of many tricks that are being played currently on the stock market to hold its value up artificially.

For this and other reasons, we are witnessing many traders and billionaires move their money from the stock market and into digital asset-based trading.  WolfStreet

© Goldilocks

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LIVE! What The Fed. Is Planning IS WAY WORSE THAN YOU THINK... Count On It. Mannarino | YouTube
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In the house there has been disagreements on the control of payment stablecoins. | Mr. Man on X

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Goldilocks' Comments and Global Economic News Friday Evening 2-23-24

Goldilocks' Comments and Global Economic News Friday Evening 2-23-24

Good Evening Dinar Recaps,

Hong Kong Central Bank Announcement:

"On Tuesday, the Hong Kong Monetary Authority (HKMA) released an 11-page circular outlining its guidelines for tokenization and digital asset custody for institutions authorized in the region.

The recent guidance from the Hong Kong Monetary Authority (HKMA) supplements the licensing framework introduced last year, providing crypto exchanges with a clear pathway to operate under regulation."

Hong Kong has just recently been given the green light to move forward with their crypto and stablecoin regulations.

Do you remember the pilot program they were on to standardize and move forward with the digital versions of our foreign currency in their sandbox?

It will be important for us to watch as they advance forward with their new guidelines as it will pertain to monetary shifts in prices on the Forex Market.   Crypto Times

© Goldilocks

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Global Banking Announcement:

"In a move that underscores the evolving landscape of international finance, a consortium of leading banks, including BBVA, BofA Securities, ING, Mashreq, Morgan Stanley, and Standard Chartered Bank, has embarked on a pivotal mission. Authorized by an undisclosed bank, these financial titans are set to traverse continents, with meetings scheduled across Asia, Europe, and the United States on February 20, 2024. Their objective is clear yet complex: to assess the appetite of global investors for USD-denominated Basel III compliant Tier 2 notes, a critical component in strengthening the banks' capital structure."

Global Banks are currently preparing for Tier 2 Capital note exchanges under Basel 3 guidelines. Banks are accumulating these foreign currencies to support their banking structures.

What are Tier 2 Capital notes? These notes are designated as second or supplementary layers of a bank's capital. And, they are commonly known as revaluation reserves or foreign currencies.

What makes them revaluation reserves under Basel 3 guidelines is the expectation of an increase in their value due to the backing by gold. Many of the currencies that are coming back onto the market on the local level in countries around the world are being supported by gold reserves.

Basel 3 is what makes these newly reinstated currencies have the need to be repriced on the market offering a Level Playing Field with other currencies around the world. HO1 US  Investopedia BNN Breaking

All roads lead to gold, and gold will set us free.

© Goldilocks

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Don't be surprised if Artificial Intelligence doesn't move some of our timelines going forward closer than we would have seen it done without it.

© Goldilocks

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I may leave that article above out to stand alone today for some time. For those of you who still have doubts that this is going to happen, look closely at that article until you finally get it. It's already happening, but it wasn't a push of the button was it?

It always has been, is, and will be a process. One day, we will wake up to new price changes, and it will take us all by surprise.

Your best intel going forward may very well be traders who work these markets.

You know me by now, I do not want you to get too dependent on any intel provider. Watch for yourself rate changes on the  CBI.iq

© Goldilocks

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JPMorgan Chase chief Jamie Dimon cashed in about $150 million of his stock in the bank — the first time the head of the largest US lender has sold shares since taking charge in 2005.

Dimon, one of the longest-serving chief executives on Wall Street, unloaded 821,778 shares of JPMorgan, according to an SEC filing Thursday.
The selloff is part of a larger plan the bank revealed in an SEC filing in October to sell 1 million of the 8.6 million shares Dimon and his family own.

NY Post

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This Housing Market is Still Frozen | Wolf Street

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Goldilocks' Comments and Global Economic News Thursday Evening 2-22-24

Goldilocks' Comments and Global Economic News  Thursday Evening 2-22-24

Good Evening Dinar Recaps,

Several companies are delisting their shares on the market as of late. There is a reason for that happening.

"Being delisted does not mean that a company is no longer public. In fact, shareholders can still trade their shares on a smaller exchange, or “over-the-counter.” However, being delisted normally leads to a devaluation of the stock, and decreased liquidity for investors."

Sometimes mergers take place to cause these things, or a cash-out opportunity takes place. There are many reasons for this happening. I am just noticing that there are several taking place right now.

Several companies are just not able to meet compliance issues for the SEC such as capital requirements or collateralization of their company is more than they can afford due to losses happening in the market.

Many companies are facing the consequences of having not switched over to SOFR lending services last year when it became available. The system is changing my friends. IPO Hub  Investopedia   SEC

© Goldilocks

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"Harvard International Law Conference: Bretton Woods 3.0 and the Future of International Economic Law"

Description:

"Join the Harvard International Law Journal and Law & International Development Society for our Spring 2024 conference titled: "Bretton Woods 3.0? Emerging Questions and Changes in International Economic Law.

The event will occur throughout the day of March 2, 2024 at Austin Hall on the Harvard Law School campus.

This year's conference features four panels and one keynote speech focusing on the changing nature of multilateral cooperation in international economic law. Each discussion will cover key topics related to this theme, drawing on experts from the legal industry, academia, and intergovernmental organizations."

* This is not an announcement. It is a conference. Yet, what is being discussed just so happens to be what we are looking to hear.

A conference is a gathering of people to learn new ideas and share what the experts have to say about what is currently taking place in the world inside their professions.

I have heard it said long ago, and you have heard many of the ideas presented to you come from academic sources. Why? Academia teaches what is about to happen before it happens and as it is happening. All you have to do is look at their syllabi and know what is taking place in the world for it is taught long before it is brought into being.  ASIL

©✓Goldilocks

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The latest FOMC meeting notes recently told us that quantitative tightening or holding on to higher interest rates for longer will be used until the midpoint of the year.

It is one of the ways the Fed lowers their balance sheet and creates liquidity for the markets. So far, we are being told that their intentions to begin the process of lowering interest rates will begin sometime in May or June.

June is the most likely scenario as MICA stablecoin and crypto regulations in Europe will be completed by that time. The lowering of interest rates will create a bull market, and the markets are expected to do very well with this pivot.

It will give more purchasing power to the dollar, more purchasing power to our tokenized assets, and more purchasing power to Gold. We will be inside a new digital economy by that point. Many of the global assets will be digitized by that time and are expected to be at 90% by the end of the year.

The growth of the new economy is expected to commence the second half of this year allowing our money across the world to begin noticing more liquidity inside the Forex markets.  Investopedia  Wolf Street

©✓Goldilocks

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"India to Develop GIFT City Currency Derivatives Market"

A Currency Derivative Market utilizes an underlying asset to support the currency being sold as an asset.

Remember, all assets on the market including Forex are to be tokenized and tokens are supported by commodities such as gold. 

Can you see what's happening here? All roads lead to gold, and "digital gold" will set us free.  IFSCA

Watch Gold.

© Goldilocks

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It looks like our currency markets are finally getting some attention.
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Banking Announcement:

"JAPAN ADVANCES LEGISLATION TO ENABLE INVESTMENT FUNDS TO HOLD CRYPTO ASSETS" | Crypto Politain
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Gold Announcement:

Kinka Gold has issued its first tranche of $XNK tokens onto the market, opening retail adoption with its listing on CoinW. The tokens represent an exciting time for gold on the blockchain, with tokenized gold predicted to become a mainstay in DeFi markets, especially as more institutional investors begin adopting crypto, and more use-cases for on-chain gold are developed.

Kinka Gold is 100% reserve-backed by premium 99.9% Japanese gold that conforms to all LBMA standards. The gold is held in bankrupt-remote vaults, is fully audited, and is entirely compliant with all Japanese regulations. The price of each $XNK token is pegged directly to the price of gold, with 1 $XNK equivalent to one fine troy ounce of gold that meets LBMA standards.

The gold is issued by a subsidiary of Daiichi Commodities, a Japanese trading house that has been trading gold for over 40 years.   Crypto Mode

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Monetary Authority of Singapore Announcement:

MAS/TCRS/2024/01 : Advisory on Addressing the Cybersecurity Risks Associated with Quantum

This advisory outlines cybersecurity risks arising from developments in quantum computing, and highlights mitigating measures that financial institutions should consider.

VIEW DOCUMENTMAS/TCRS/2024/01 : Advisory on Addressing the Cybersecurity Risks Associated with Quantum  (135.3 KB)

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No investors, let alone billionaires, will want to own stocks with falling profit margins and shrinking dividends. So if that's why Buffett, Paulson, and Soros are dumping stocks, they have decided to cash out early and leave Main Street investors holding the bag.  Safe Retirement Strategies

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Soon, people are going to look for places they can put their money in safe havens. Digital assets will be right in their faces. Gold and crypto. The first movers of the new economy.

©✓Goldilocks

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We care about each of you and trying to keep this community safe.

If needed we will use Signal. Join us and stay informed link 

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Thank you, The SOWT Tech Team

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Goldilocks' Comments and Global Economic News Wednesday Evening 2-21-24

Goldilocks' Comments and Global Economic News Wednesday Evening 2-21-24

Good Evening Dinar Recaps,

Trading Announcement:

The Commodity Futures Trading Commission has finally approved the following proposed rules:

"Proposed Rule: Regulations to Address Margin Adequacy and to Account for the Treatment of Separate Accounts by Futures Commission Merchants

Proposed Rule: Foreign Boards of Trade

Proposed Rule: Requirements for Designated Contract Markets and Swap Execution Facilities Regarding Governance and the Mitigation of Conflicts of Interest Impacting Market Regulation Functions"

These proposed rules can now go into effect. As you can see, the first one deals with the ability to collateralize and cover swaps getting ready to take place. The second one deals with foreign market exchange guidelines. And the last one, deals with guidelines and requirements that governs swap exchanges and executions such as foreign currency exchanges.

Even though Forex is excluded from many of these guidelines, foreign currency exchanges are subject to reporting rules and the guidelines that govern swap executions taking place with the CFTC. CFTC

© Goldilocks

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The CFTC is extending their comment period for the Proposed Rule on Operational Resilience Framework.

Protocol 20 is bringing in new price patterns and new adjustments to a new trading system. These comments will reflect changes needed to take place in making our transition into the new digital economy. These comments will be taken into account and put forth into new operational risk frameworks.

Operational risk assessments include the following: measurement methodologies, policies, procedures, processes for mitigating, controlling, monitoring, and reporting of operational risks.

Below is the announcement that will give us a timeline for these new adjustments to be discussed and implemented.

Washington, D.C. — "The Commodity Futures Trading Commission today announced it is extending the public comment period for a proposed rule requiring an Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants. The deadline is extended to April 1, 2024."   CFTC

© Goldilocks

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What is Operational Resilience? | LogicGate Risk Cloud

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CFTC Welcomes Standardized Approaches to Assessing Cybersecurity Preparedness | Nat Law Review

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(Reuters) - Copper and gold are expected to see the largest immediate price boost in the commodities sector from potential U.S. Federal Reserve interest rate cuts, analysts at Goldman Sachs said.

"The immediate price boost from a Fed driven 100 basis point decline in U.S. 2-year rates is the largest for metals, especially copper (6%), and then gold (3%), followed by oil (3%)," Goldman Sachs said in a note dated Feb. 20.

Three-month copper on the London Metal Exchange was trading near a three-week high of $8,548 per metric ton as of 0542 GMT on Wednesday, while spot gold was at a near two-week high at $2,030.30 per ounce. [MET/L] [GOL/]   Money US News

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Do you see how the movement into the digital asset-based trading system is being layered into one another?

When the FED begins to lower interest rates, it is expected to boost copper and gold the most. These particular metals are now apart of our new tokenized assets.

These changes will go a long way in adding value to our new real world assets.   US News

© Goldilocks

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War is going to put price pressures on our Commodity Market, and it can lead to higher prices in the metals.

Our precious metals have been subdued and controlled for so long many of our assets have been locked into certain price patterns with momentum pressure in the marketplace.

A war will allow our assets across all Market sectors to be shaken up with new price patterns due to volatility. New tokenized assets will also play their part in shifting some of these price pressures into new directions.

As we reset the market with Protocol 20, new price patterns can come into play with real-world assets governed by new policies and procedures that will reflect lasting change.  Baird Wealth

© Goldilocks

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I'm aware that a lot of rumors will begin to surface on this March the 2nd date, I can hear the keystrokes of our gurus already typing out new stories surrounding this date from around the world.

Assumptions are made, but no one knows for sure until we get to that date exactly what they're going to do say. No one person can predict the future, the RV date will be revealed through new Market support patterns. Bretton Woods will make an announcement when everything has moved into new values.

A lot of people have been brainwashed into the constant beating into their heads of looking at the markets through the eyes of a date and rate. It doesn't happen that way.

Believe me, the revaluation process will be a part of that meeting. Meetings like these are always about creating new values that can benefit the Global Economy.

Just sit tight, and enjoy the process. Europe still needs to bring out their MICA regulations for stablecoins and cryptocurrencies. My understanding is that these are mandated to be done by the end of May - just before their elections.

If you have your money in iso digital tokens, you are sitting in a good place. For those who have their investments only in paper money, you are going to have to wait until those tokenized assets begin to show reasons to change your currencies' values.

©✓Goldilocks

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Goldilocks' Comments and Global Economic News Tuesday Evening 2-20-24

Goldilocks' Comments and Global Economic News Tuesday Evening  2-20-24

Good Evening Dinar Recaps,

* At 12:00 EST, the vote for Protocol 20 will begin. *

The merger of Protocol 20 completes the Quantum System upgrade from Protocol 19 to Protocol 20.

There is a chance that a volatility event could happen during this time as our tokenized assets move into real values on the new Quantum Financial system.

During this transfer of assets, traditional assets are being tokenized and supported by commodities.

This will help our markets and banking system work with real-world values as they synchronize into one another.    Stellar

© Goldilocks

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"Regulatory Changes Impacting PDX Operations Heading Into 2024

PDX Coin is the heart of a global payments and digital banking platform that aims to enable hundreds of millions of retail users, institutions, merchants, vendors and ecosystem partners to easily participate in the crypto economy with instant conversion between digital currency and fiat currency."

Recent regulations in the crypto space are coming fast and furious at this point. On January 10, the Securities and Exchange Commission (SEC) approved 11 Spot Bitcoin Exchange-Traded Funds (ETFs).

This move alone has created the need for clear regulations and guidelines to move the crypto space forward into the new QFS. The emerging regulation of stablecoins are in process and expected to be nearly complete if not completed by the midpoint of this year.

Payments and cross-border trades will be well on their way to adoption the second half of this year. New regulations for stablecoin users in the European Union will go into effect, and Hong Kong and the UK will be somewhere in that time frame or following.

In just a few short months, the world as we once knew it will have changed. It begins today with Protocol 20 as Quantum Technologies from around the world begin to move into the Stellar Network.

© Goldilocks
Block Telegraph
Steemit

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Ethena, a prominent player in the cryptocurrency space, has recently unveiled its USDe stablecoin on the public mainnet along with an innovative Shard Campaign. This campaign, designed to incentivize user participation, offers rewards based on contributions, marking a significant milestone for the Ethena community.

The Shard Campaign introduces a new and unique approach to engaging users and fostering long-term involvement within the ecosystem. By rewarding activities that contribute to the Ethena ecosystem, the campaign aims to build a vibrant and active community dedicated to the platform’s success. This departure from traditional incentivization methods showcases Ethena’s commitment to innovation and user-centric development.

In terms of structure and duration, the Shard Campaign is organized around multiple short-duration seasons known as “Epochs.” Each Epoch focuses on different activities related to the USDe stablecoin and community integration. The campaign is not intended to be prolonged, with a commitment to finalizing it within three months or when the USDe supply reaches $1 billion, whichever comes first.
Facts Chronicle

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RIYADH: Saudi Arabia’s advancement in electronic government services has secured the Kingdom the top spot in the Middle East and North Africa according to a UN ranking. 

The 2023 Government Electronic and Mobile Services Maturity Index issued by the intergovernmental organization’s Economic and Social Commission for Western Asia, indicates Saudi Arabia has maintained its lead for the second consecutive year.  

The index, known as GEMS, annually classifies 17 countries based on the maturity of 84 priority government services through portals and applications, using three sub-indicators. 

Saudi Arabia achieved distinction in all indicators, experiencing significant development in each.
Arab News

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Introducing the BIS | YouTube

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Why Do We Have Central Banks? | YouTube

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BUILT FOR A MISSION | Stellar Foundation

👆  Goldilocks pointed to this article

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Universal Basic Income Has Been Tried Over and Over Again. It Works Every Time.| Gizmodo

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Goldilocks' Comments and Global Economic News Monday Evening 2-19-24

Goldilocks' Comments and Global Economic News Monday Evening 2-19-24

Good Evening Dinar Recaps,

From last night!

"The World's First Gold Standard Digital Currency - BDTCOIN"  Investing  BDTCOIN  
More on this coming...

© Goldilocks
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BDTCOIN is an exclusive Gold standard digital currency revolutionizing the global finance with multiple financial players, a dynamic cutting-edge blockchain built  with QUANTUM-resistant protocols and DeFi Ecosystem.

Bdtcoin is an emerging digital currency in the digital world, introduced at the end of 2022. Unlike other traditional digital currencies that are not backed by any physical assets, Bdtcoin is backed by Gold and not any fiat currency worldwide, giving it a unique advantage in the market. 

As a digital store of value and medium of exchange, BDTCOIN blockchain facilitates a new revolutionary DeFi ecosystem with multiple financial players for its users worldwide to control their own money and data. This has enabled greater access to financial services, lower costs, faster transactions, and more financial freedom overall its users.   Investing   The GWW

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"What Would Make the Federal Reserve Raise or Lower Interest Rates?"

There really isn't a reason for the Feds to raise or lower interest rates at this point. Even with inflation data coming in higher, the markets are just simply bouncing back.

Price distortions have created Market correlations that no longer apply as they once did. The manipulation of the market and the momentum of the market have simply created price patterns that no longer apply to meaningful data anymore.

In other words, momentum is doing better than real asset prices due to longstanding manipulation of the markets.

The markets have become unpredictable causing many traders to move forward with caution, and some have pulled away altogether to invest in digital assets and gold.

In other words, our Global Markets are now leading the way over and beyond human control. There are still some events that can bring it down, so we can replace it and reset it with the new digital economy such as:

* A huge spike in oil
* Government credit default
* A worldwide recession which is already taking place
* More war
* BRICS influence
* Weather events
* A commercial Banking default
* Inflation
* Wage growth
* Geopolitics
* And, supply chain disruptions

These factors, even one, have the ability to cause an imbalance so great in the market that a return to normalcy will no longer be possible.

These and many other reasons are why a Global Currency Reset inside a new Digital Economy is happening.   Investing

© Goldilocks

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Look for market prices to begin the process of moving into real values when Protocol 20 starts.

Many of our assets are over-inflated, some of these assets will be higher than you may think and others will go lower.

It is important to keep an open mind during this process of movement into real values.

We are about to have real-world assets with real-world values placed on them inside a digital asset-based trading system.

Adjustments are forthcoming and to be expected going forward. This is a Global adjustment. Know you are not alone.

© Goldilocks

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👆 Traders are already anticipating this move and making adjustments accordingly.

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"USI MONEY AND ENJAZ SIGN STRATEGIC PARTNERSHIP TO INTRODUCE PAYMENT INNOVATION"

Real-time instant payment systems are coming to the Kingdom of Saudi Arabia. This will service the needs of the Middle East and other countries across the globe choosing to settle their payments in local currencies.

This new digital payment system will begin the process of leveling the playing field between countries that have been settling their accounts in dollars for a long time.

We are living in a new age. Countries want their power back, and they are getting it. Gold will support their new Digital Financial System through virtual assets creating values to their own currencies not seen in a long time.  PR Newswire

© Goldilocks

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New Protocol 20 Vote Set for February 20 | Stellar

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Jeff Bezos sells $2 billion worth of Amazon stock | Fox Business

👆 Has the market topped?

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I realize that tomorrow is February the 20th, 2024. It is the day that Protocol 20 begins. The expansion of the stellar platform will bring in new opportunities, and over time, it will bring in more abundance.

We do not focus on dates in this room or rates, but we will notice changes that have been made on certain days begin to bring in more and more liquidity in the assets we hold inside this new digital asset-based trading system.

© Goldilocks

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Goldilocks' Comments and Global Economic News Sunday Evening 2-18-24

Goldilocks' Comments and Global Economic News Sunday Evening 2-18-24

Good Evening Dinar Recaps,

The Central Bank of Iraq revealed the mechanism for accepting and studying applications for granting licenses to electronic payment companies, confirming the continued receipt of licensing applications.

The Central Bank specified that the applicant, whether a natural or legal person, must have at least three years of experience in the field of electronic payment and the payments industry, and this includes the founders and participants, indicating that the application includes a detailed explanation of the added value to the electronic payment sector in Iraq that will be provided by the company to be licensed. Especially in the field of modern collection techniques and enriching the Iraqi market with distinguished and applicable service.

The bank stressed the necessity of submitting a request for a detailed technical feasibility study of what the company to be licensed will provide, pointing out that the request includes the minimum standards for accepting applications for obtaining a license to operate as an electronic payment service provider, in addition to what is stated in the electronic money payment services system No. (3). For the year 2014.

The bank confirmed that it will reject all applications that do not meet the aforementioned licensing conditions.   https://cbi.iq/news/view/2515

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Iraqi Bank Announcement:

The Central Bank of Iraq is currently in process of revealing their electronic mechanism for the new global digital economy.

Going forward, they will be granting license applications for electronic payment companies from around the world.   https://cbi.iq/news/view/2515

© Goldilocks

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China Plans to Accelerate Cross-border Data Transfersby Implementing Trial Rules in Shanghai Pilot Free Trade Zone

"...cooperation with the Digital Economy Partnership Agreement (“DEPA”) countries in the field of digital trade, actively establishing the Lingang Special Area as a model site of DEPA cooperation[4], and promoting the implementation of new rules such as “paperless trade."

China is in process of Accelerating Cross-Border Data Transfers through Implementing trial rules in the Shanghai pilot free trade zone.

The transfer of personal data to another country requires the testing of protection laws through controllers to fulfill the needed requirements when transferring personal data across borders.

These new data rules are being tested on the Shanghai Exchange and accelerated to test and implement these new digital monetary policies.

The Shanghai Exchange incorporates much of Asia and the Middle East in trade going across borders from the East to the West.

This test pilot will allow China the ability to comply with the new Digital Asset-Based Trading System data requirements enabling trade on a global scale to move forward.

The Chinese Yuan is utilized on the Shanghai Exchange, and they have already told us they are considering a gold-backed Chinese Yuan to lead the way in trade among the Nations they trade with going forward.

The Shanghai Exchange is the third largest market exchange in the world. It has a market cap of nearly 7 trillion dollars in assets. A Golden Yuan that trades with markets around the world through the Shanghai Exchange will significantly change monetary policies around the world to keep pace with these new developments.

And, we must not forget that the Shanghai-Hong Kong Stock connection will enable their new pilot program on stablecoins to play an important part of the global payment systems around the world to function freely on the Shanghai Exchange that connects to the rest of the global economy.

All roads lead to gold, and "digital gold" will set us free.

© Goldilocks
Hunton Privacy Blog
Practical Law
Statista
FDI China

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INTERVIEW: Iraq’s planning ministry spearheads multi-faceted development strategy |   Zawya

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CP 375 Proposed changes to the ASIC Derivative Transaction Rules (Reporting): Third consultation 

This consultation paper proposes further amendments to the ASIC Derivative Transaction Rules (Reporting) 2024 in relation to outstanding matters from our prior consultations released in November 2020 and May 2022.

It sets out our proposals on simplifying the exclusion of exchange-traded derivatives and the scope of foreign entity reporting, and the removal of the alternative reporting provisions.

It also addresses certain additional data elements and other matters that have been raised by industry, and consequential changes to the ASIC Derivative Transaction Rules (Clearing) 2015.  ASIC

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What Is Blockchain Cross-Chain Communication Infrastructure And Top 10 Amazing Ways It Is Helpful

A blockchain cross-chain communication infrastructure refers to a set of protocols, tools, and technologies designed to facilitate communication and interoperability between different blockchain networks. As the blockchain ecosystem continues to expand with the emergence of numerous blockchains, each with its own set of features, consensus mechanisms, and native assets, the need for seamless interaction between these networks becomes increasingly crucial.

The concept of cross-chain communication infrastructure addresses the limitations of isolated blockchain networks, enabling them to exchange data, value, and assets securely and efficiently. This infrastructure plays a pivotal role in unlocking the full potential of blockchain technology by fostering collaboration, innovation, and scalability across disparate blockchain ecosystems. Blockchain Magazine

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Stellar Prepares to Launch Protocol 20 This February; Here’s What to Expect Post-Launch |  Zycrypto

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Shadow of Ezra (@ShadowofEzra) on X

Truckers are now refusing to deliver goods to New York, after the court ruled Trump had to pay over $350 million in fraud.

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👆 Uh Oh... This is expected to cost our economy billions of dollars in New York alone. The ripple effect will cost even more.

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More Government Debt than buyers. A reset is coming. |  11onze

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Goldilocks' Comments and Global Economic News Saturday Evening 2-17-24

 Goldilocks' Comments and Global Economic News Saturday Evening 2-17-24

Good Evening Dinar Recaps,

"Hong Kong has launched a public consultation on proposed legislation for regulating over-the-counter virtual asset trading, the jurisdiction’s website said on Thursday."

The public consultation will give the public time to voice their concerns about the regulatory proposals of stablecoins.

The final step will be the implementation of government licensing for digital asset providers of OTC trading services.

The consultation will last until April 12, 2024. At that time, the rollout of the sandbox of many Global Stablecoins tested in their pilot program will be available for Global Trade.  The Block

© Goldilocks

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There have been many debates about the use of XRP as a stablecoin as of late.

Many prominent institutions have been calling for a gold-backed stablecoin from institutions like the World Bank, International Monetary Fund (IMF), and World Gold Council.

These institutions have been encouraging the development of such a project so Central Banks could tokenize their gold reserves.

Nothing has been turned into a form of an announcement yet, but it sure does look like the IMF, the World Bank, and the World Gold Council would like to see this happen through XRP.

It would not be a surprise to this author that a Bretton Woods announcement including a gold-backed stablecoin such as Ripple would lead the way.   CoinGape

© Goldilocks

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Trade Finance Poised for Digital Revolution Though Obstacles Remain - Fintech Singapore

"The trade finance industry has been aspiring for greater digitalization, striving to tap into potential benefits such as improved transparency, efficiency, risk mitigation and support for small and medium-sized enterprises (SMEs).

But despite some progress, advancements have been slow for the past few decades due to legal obstacles, the lack of standards, and the need for unifying technologies, a new paper by Deutsche Bank says.

The paper, titled “A Guide to Digital Trade Finance”, examines the progress that has been made so far, as well as what is still needed on the road ahead. The guide provides a practical toolkit for the industry, leveraging expert opinions from various stakeholders to explore the role of banks in digitalization initiatives, legal frameworks, international standards and innovative technologies."

Watch what happens when Stablecoin clarity and Protocol 20 begin to expand.  Fintech News

Watch the water.

© Goldilocks

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The world of cross-border payments continues to progress, building on the momentum gained in 2023, and is ready to navigate a new suite of products from Swift. According to The Bank of England, the value of cross-border payments is expected to grow from almost USD 150 trillion in 2017 to over USD 250 trillion by 2027, a spike of over USD 100 trillion in just 10 years. 

Part of the process enabling that growth of course comes from Swift. It has recently focused on what could be seen as a reorganization and repackaging of its products into a suite called Swift Essentials. Swift believes the new package improves several important policies and processes including, but not limited to, the speed and reliability of cross-border transactions but also extending into compliance, integration, and corporate treasury management.   www.bankofengland.co.uk

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Goldilocks' Comments and Global Economic News Friday Evening 2-16-24

Goldilocks' Comments and Global Economic News Friday Evening 2-16-24

Good Evening Dinar Recaps,

New Delhi, Feb 09: "The call for institutional reforms resounded strongly from the United Nations headquarters as Secretary-General Antonio Guterres pressed for comprehensive changes, starting with a significant overhaul of the Security Council and the Bretton Woods Institutions – the World Bank and the International Monetary Fund (IMF)."

Just recently, Jerome Powell and Janet Yellen have been calling for a serious conversation about our 34 trillion dollar national debt. They are saying that the move toward a sustainable fiscal path is of most importance.

A sustainable fiscal policy happens when the ratio of debt held by the public to GDP is stable or declining over time.

It is no secret that the old Financial System is not going to get us to where we need to be anymore. For the past 2 years and almost a half, we have been working on tokenizing assets and creating legislation leading to laws that will govern our new digital asset-based trading system on the QFS.

In just 5 more days, Protocol 20 will be voted on and implemented. The process of expanding into our new digital banking system will commence.

Everything is going to be tokenized. Everything will be backed by a commodity. Everything will be run on a Quantum Technological Financial System.

The IMF and the World Bank have been working with countries around the world to change and implement new monetary policies through economic reforms designed to put us on a Sustainable Financial path.

These consultations have allowed countries to develop new digital mechanisms with the guidance of the IMF through Economic Reforms.

The World Bank is responsible for lending money to poorer countries. Their involvement along with the IMF is calling for movement forward inside a new digital asset-based trading system.

© Goldilocks
Kashmir Dot Com
Yahoo Finance
Fiscal Treasury

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NPCI to launch real-time payment link between India and US

...the National Payments Corporation of India (NPCI) is reportedly in discussions with Indian and US banks to establish a real-time payment link between the two countries, as per a report from the Economic Times. The initiative seeks to utilize NPCI's expertise in cross-border payments. NPCI is said to be collaborating with Indian banks familar with the Unified Payments Interface (UPI) and foreign banks to develop models and conduct pilot tests. 

Additionally, NPCI is engaging with FedNow, the real-time payment service launched by the US Federal Reserve in July last year, or its UPI equivalent. The proposed payment model between India and the United States is expected to focus initially on small consumer transactions due to the absence of a nationwide system similar to UPI in the US. Transactions under this model are likely to be limited in scale and value, with only modest payments permitted initially. 

Under this model, transactions involving sending or receiving money from relatives would necessitate the involvement of a large Indian bank for Indian consumers, while in the US, individuals can use American banks for such transactions.  The Paypers

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Jerome Powell highlighted CBDC and stablecoins in a meeting with Democrats from the House Financial Services Committee.

He talked about the requirement for stablecoin legislation in the US while sharing his views. 

New York Community Bancorp. and Basel capital rules are other topics covered in the meeting. 

Jerome Powell, the chairperson of the Federal Reserve, demonstrated the need for a stablecoin bill in a meeting with Democrats from the House Financial Services Committee on 12 February. Politico, a media company, confirmed the same.     The Coin Republic

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The World Bank’s classification of XRP as a stablecoin in the context of its utility in the payment landscape has recently resurfaced in the crypto community. 
World Bank Calls XRP Stablecoin.

Notably, the classification came in a November 2021 research paper titled “Central Bank Digital Currencies for Cross-Border Payments.”

The report considered the endeavors undertaken at the time to streamline cross-border payments for efficiency and cost-effectiveness.

It recognized stablecoins as a digital currency category that provides instantaneous processing and secure payments. In particular, the report laid emphasis on their stability concerning parity with fiat currencies.

Based on this premise, the World Bank identified two virtual assets that they believe fall into the stablecoin category: Ripple’s cross-border payment currency, XRP, and the native asset of the Stellar network, XLM.

The World Bank report also emphasized that XRP and XLM enable faster and more efficient cross-border payments than traditional correspondent banking methods.  The Crypto Basic  Crypto Politan

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Blockchain Technology For Verifying Election Data

More than 60 countries around the world will hold national and regional elections this year, making 2024 the biggest election year in history. But there are growing concerns that misinformation and disinformation driven largely by artificial intelligence (AI) will impact the elections.

An example of this recently occurred when an AI-enabled call using United States President Joe Biden’s voice phoned thousands of people across the U.S.

Findings from The World Economic Forum’s Global Risks Report 2024 further show that misinformation and disinformation are likely to be a top global risk in the next two years.

The report states that “foreign and domestic actors alike will leverage misinformation and disinformation to widen societal and political divides.”

The report also noted this risk will be even greater given that there will be a large number of elections in the near future, as more than 3 billion people are due to head to the polls in 2024 and 2025.

Cryptonews.com
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Crypto adoption is becoming mainstream. We're seeing development in election blockchain integration, healthcare payment integration, and even seeing the payment classification of XRP and XLM by the World Bank. Our world is about to expand into a new digital age.

© Goldilocks

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Goldilocks' Comments and Global Economic News Thursday Evening 2-15-24

Goldilocks' Comments and Global Economic News Thursday Evening 2-15-24

Good Evening Dinar Recaps,

"The Hashgraph Association and Saudi Arabia's Ministry of Investment have launched a $250M DeepTech Venture Studio in Riyadh, supporting over 500 companies in developing advanced AI, blockchain, and VR solutions."

Saudi Arabia's new partnership with DeepTech Venture Studio will go a long way in expanding their partnerships with several countries paying for oil in local currencies through the new digital economy.

This will enable them to make shifts when needed as new companies arise in an ever-changing World from fossil fuel to electronic venues.

Saudi Arabia is shaping up to be a digital hub in the Middle East. New digital developments such as these will allow Saudi Arabia to transition into the QFS.

This new liquidity and investment into Quantum Technologies will allow Saudi Arabia to continue being a leader in innovative relationships with companies around the world through bilateral smart contracts on the Hashgraph Digital Network.

Hedera's hashgraph consensus mechanism enables developers to build smart contracts securing both sides of the trade as capable of movement forward in digital payment systems.  Blockchain

© Goldilocks

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“We need a framework for stablecoins,” Powell said, according to a source at Tuesday’s meeting. Powell added that he is “very supportive and am glad that we are close.” 

As we have discussed in this room, these new tokenized assets are going to need coins to pay for them. It is really good to hear a confirmation that they are so close.

The use of stablecoins that represent a country's currency will increase money velocity and give more value to our currencies over time.

These new venues will level the playing field for all countries around the world. Isn't it amazing to watch these new developments take shape that will govern our new digital economy?  Ledger Insights

© Goldilocks

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February 14, 2024

Washington, D.C. — "The Commodity Futures Trading Commission Open Meeting scheduled for Thursday, February 15, 2024, has been canceled. The matters under consideration are being resolved through the Commission’s seriatim process."

The Commission's Seriatim is a process whereby the Commission takes action without convening a meeting of the Commissioners (CFTC). What's the hurry?

The following two items along with many others are on the table to be discussed:

* Requirements for Designated Contract Markets and Swap Execution Facilities

* Foreign Boards of Trade

"Foreign board of trade means any board of trade, exchange or market located outside the United States, its territories or possessions, whether incorporated or unincorporated."

© Goldilocks
CFTC 1
CFTC 2
Law Cornell
SEC

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"Duquesne Family Office, the investment vehicle belonging to famed macro investor Stanley Druckenmiller, dumped shares of Alphabet Inc., Amazon.com (AMZN) and Broadcom Inc. (AVGO) while scooping up shares of beaten-down gold miners Barrick Gold Corp. (GOLD) and Newmont Corp. (NEM), according to a Wednesday filing with the Securities and Exchange Commission."

The move from stocks to tokens, and now, gold has begun. Watch the big players. They know when to shift their money.

All roads lead to gold, and gold will set us free.  Morning Star

© Goldilocks

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Chinese, Indian, Pakistani currencies to join UAE-based cross-border payment system - News | Khaleej Times

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As payment markets evolve, further progress hinges on open access facilitated by infrastructure modernization. In this Predict 2024 episode, Paul Ruggieri, Senior Vice President, Real-Time Payments, Product Management, at Mastercard, discusses growth opportunities for clearing houses and scheme operators, emphasizing the need for standardized communication strategies between operators and payment systems.

We explore the significance of interoperability and the prioritization of standardization to enhance cross-border transactions. Additionally, we explain the key methods for ensuring seamless transactions across borders, leveraging ISO 20022 data and AI for fraud prevention, resilience, and scalability across all 13 markets.  FinExtra

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World Bank Classifying XRP As Stablecoin, Says Ex-Ripple Director |   CoinGape

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Liquidity is moving more and more each day from the old Financial system to the New Digital one.

© Goldilocks

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BRICS: Egypt Officially Ditches US Dollar For Trade | Watcher Guru

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