Goldilocks' Comments and Global Economic News Sunday Evening 4-28-24

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Evidence Suggests Stablecoins Are Emerging as a Worldwide Asset Class | Globe Echo 

Stablecoin adoption is rapidly increasing, with research firm rwa.xyz reporting a 15% increase in the number of addresses holding both dollar and crypto-pegged stablecoins in 2024. Chainalysis also found that stablecoins are becoming more prominent in overall on-chain transaction activity, with increasing importance in various nations and regions.

Stablecoins, cryptocurrencies with values pegged to an external reference like the U.S. dollar, have represented over half of all on-chain transaction volume, highlighting their growing importance in the cryptocurrency market.

The adoption of stablecoins is being propelled by their ability to provide anyone with an internet connection access to the U.S. dollar, unlocking new pathways for financial inclusion. The U.S. leads in stablecoin purchases, but global demand is high, with over $40 billion purchased in March alone across diverse nations and regions.

 Stablecoins are serving as a critical bridge between traditional finance and cryptocurrency, with the stablecoin market currently valued at around $150 billion and expected to exceed $2.8 trillion by 2028.

Goldilocks' Comments and Global Economic News Saturday Evening 4-27-24

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CFTC to Hold a Commission Open Meeting April 29. On April 22, Chairman Rostin Behnam announced the Commission will hold an open meeting on Monday, April 29 at 9:30 a.m. (EDT) at the CFTC’s Washington, D.C. headquarters. The Commission will consider Final Rule “Capital and Financial Reporting Requirements for Swap Dealers and Major Swap Participants” and Final Rule “Adopting Amendments to the Large Trader Reporting Rules for Futures and Options.” 👆The above meeting has been canceled, and the CFTC has decided to speed up the process in moving this through the system inside a  Commission’s seriatim process. The Commission's seriatim process is the process by which the Commission takes collective action without convening a meeting of the Commissioners. So, the capital and reporting requirements for swap dealers and participants along with adopting amendments to the large trader reporting rules for Futures and Options have been moved to the Final Rule.

Goldilocks' Comments and Global Economic News Friday Evening 4-26-24

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MICA Announcement: "This summer, the first part of the EU’s MiCA Regulation will come into effect. Financial institutions (FIs) that are currently engaged in or exploring crypto assets will need to make operational adjustments." Markets in Crypto Assets (MICA) are finally coming to the final stages of completion for the QFS. Financial institutions seeking to participate on the new Digital System will be going through a regulatory process. These MICA Regulations that will come to a conclusion on May 28th, 2024 in Europe will create a crypto-asset white paper. This white paper will report and create a set of guidelines for all countries to follow going forward in building their Quantum Technological Regulations Financial institutions around the world will have until December 2024 to integrate their Quantum Technologies to the new Digital Asset Based Trading System. At that time, the new QFS will be operational Globally. Here is what will be worked on between now and the end of the year: * how financial values are stored and transacted (stablecoins) * Movement from T+1 to T+0 instant payments in cross-border transactions * Reducing counterparty risks * Counteracting payment frauds

Goldilocks' Comments and Global Economic News Thursday Evening 4-25-24

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China's Payment Regulations Announcement: On December 9, 2023, Chinese Premier Li Qiang signed Decree No. 768 of the State Council. The People's Bank of China is giving us a look at their implementation rules for their new payment regulations. It covers risk management, e-commerce, faster mobile and computer payments, connections between central depository institutions, banking systems, monetary policies, guidelines, management of payment rules between Financial institutions, and various types of accounts. After implementation, these new regulations will be sent to Clearing House Institutions for Network inclusion and compliance directives to enforce this new payment system.  This decree is China's regulations on the Supervision and Administration of Non-Bank Payment Institutions.

Goldilocks' Comments and Global Economic News Wednesday Evening 4-24-24

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I see two things that have to happen before we see an RV on our paper money. Gold has to be able to withstand anything that is thrown at it, and the QFS has to be completed my friends.

We are looking at the CFTC being able to take us in soon, BUT as they have said in their own words yesterday:

“as soon as technologically practicable.”

Going forward, connections to those who are actually creating the system in the field of technological development are the people who provide us with real Intel.

Everything else, is just simply getting the word around that everything is done and secondary intel.

What is going on behind the scenes in technological advancement is our path forward. The old world has passed away and all things are becoming new.

Let me introduce to you the new World Reserve Asset going forward. Ripple is the new dollar. When Ripple is set free backed by gold, so are we. The Banker

© Goldilocks

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Goldilocks' Comments and Global Economic News Wednesday AM 4-24-24

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Recently, gold has found its own path. It is becoming increasingly bold in determining its own path.

There have been recent attempts to short the market in gold, and there just doesn't seem to be anything powerful enough to do it.

Gold has awakened into a life determined by real fundamentals unlike anything else on the market.

Our tokenized assets and Stablecoins will be supported by a commodity of real value going forward, and nothing seems to be able to stop it from realizing its potential going forward. Schwab

© Goldilocks

Goldilocks' Comments and Global Economic News Tuesday Evening 4-23-24

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"HANOI (Bloomberg): Vietnam’s central bank said it sold dollars to some banks, intervening in the foreign exchange market as the currency fell to a record low."

Today, Vietnam did a currency intervention. They sold some of their dollars to some banks. Let's take a look at why this move was made and why it makes sense.

Vietnam is currently applying for the BRICS system. The need to hold dollars in trade going forward does not make as much sense anymore. It would make more sense to hold the trading currency of the BRICS system that will carry enough weight to justify new Dong rates going forward.

At the same time, the BRICS Nations have a requirement that Nations who join them own gold. Gold increases the net worth of a country's own currency, and backing in Gold will enable Vietnam to trade under a Gold Standard.

Goldilocks' Comments and Global Economic News Monday Evening 4-22-24
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ISO 20022 UPGRADE OF SWIFT MESSAGES FOR MONEY SETTLEMENT ANNOUNCEMENT:

"To act in concert with the global standard of adopting ISO 20022 in SWIFT and Hong Kong RTGS for payment-related SWIFT messages, OTC Clear has planned to migrate money settlement messages from existing SWIFT MT messages to ISO 20022 XML-based message ("MX messages") on 22 April 2024."

On April 22nd, 2024, the Society for Worldwide Interbank Financial Telecommunications and Real Time Gross Settlements is upgrading to the ISO20022 messaging system.

The Hong Kong Interbank Clearing Limited and the Hong Kong Securities Clearing Company Limited will soon after do a market-wide testing to make sure the clearing systems of the East and West are synchronized.

Goldilocks' Comments and Global Economic News Sunday Evening 4-21-24
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Hong Kong Digital Banking Announcement:

Hong Kong is offering new guidance on their TM Systems Technology currently in development.

TM System's "goal is to become global leaders in security consulting services and location-based analytics along with software development."

This new technology will help them with their new in-house Derivatives Platform. It will run on the Orion Derivatives Platform. And, it has enhanced trading and clearing capabilities that will enable them to run almost 24 hours a day.

Hong Kong already has their own electronic security system, and this new system is currently in process of being developed for added security protection going forward on their derivatives platform.

© Goldilocks
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