Goldilocks’

Good evening,

Goldilocks posted comments and news links on the global financial system:

“Settling foreign trade deals in non-dollar currencies is slowly but surely becoming a global trend, reflecting many countries’ desire to realize currency sovereignty.”

It is becoming increasingly clear that currency reforms across the Globe are becoming a priority.

The shift towards the East exchanging in their local currencies, rather than, the dollar is gaining traction.

Demand equals a raising in value.

© Goldilocks

https://global.chinadaily.com.cn/a/202308/22/WS64e3e796a31035260b81d661.html

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TEMPO.CO, Jakarta – “Indonesia carries out a flexible approach to support the three main digitalization agenda discussed in the Digital Economy Working Group (DEWG) G20 India. The three main agendas are Digital Public Infrastructure (DPI) for Digital Inclusion and Innovation; Building Safety, Security, Resilience, and Trust in the Digital Economy; and Digital Skilling for Building a Global Future Ready Workforce.”

https://en.tempo.co/read/1762234/indonesia-employs-flexible-approach-to-support-g20-digitalization-agendas

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Bloomberg — “US banking watchdogs will next week propose requiring that banks with as little as $100 billion in assets issue enough long-term debt to cover capital losses if they ever failed.”

This new ruling goes into effect on August 29th, 2023. A long-term debt is treated differently than a short-term debt. For the issuer, this is a liability. For the owner of a debt for example bank bonds, it becomes an asset.

Knowing that gold is about to rise in value for some time keeps Banks liquid for those who fail to pay. This is where Basel 3 capital requirements will come into play.

© Goldilocks

Investopedia Link

Finance Yahoo Link

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All current BRICS leaders have publicly supported the bloc’s expansion.

China’s President Xi Jinping says the world faces a global period of turbulence and transformation.

Read: https://x.com/goldtelegraph_/status/1694351976169914505?s=46

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Uh oh…

We have some short selling going on…

Back in a minute…

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While narratives are being built around the BRICS Nations this week, let’s take a look at what Money Managers are doing in the Banking System.

And, let’s take a look at who is investing in Banks backed by gold. Big investors and Banking institutions are now getting involved in accumulating gold at an unprecedented rate at this point.

Most are “going short” on gold. Going short is the practice of selling borrowed brokered assets, and then, buying these assets back at a later date and keeping the profits. As Bankers roll over their profits, more and more liquidity will provide them a path forward.

Institutional money moves mountains in the marketplace. These kinds of moves do not happen without a pretty clear idea where the market is going. In this case, the commodity markets are expected to begin taking the lead going forward. You can see this in the decisions that the banking system have been making since July 1st when we entered into a SOFR lending service.

Everything seems to be coming together all at once. Gold will set us free.

© Goldilocks

Kitco Link
MorningStar Link

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JUST IN: Russia’s President calls on BRICS to abandon the US Dollar and settle trade in local currency.

@WatcherGuru

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JUST IN: BRICS leaders agree to expand the alliance, announcement set for tomorrow.

@WatcherGuru

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World Bank confirms its readiness to support government reforms in strengthening the Iraqi economy

WordPress Link

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BREAKING NEWS