Goldilocks’ Comments and Global Economic News for July 10, 2023
RJ: Good morning Dinar Recaps,
~~~~~ Goldilocks posted the following few articles late yesterday July 9, 2023. I felt they were newsworthy to share. RJ ~~~~~
“The Colombian peso has emerged as the most revalued currency against the dollar in recent times, according to reports from renowned publications such as the Financial Times, Portfolio, and Money in Image.
Financial experts speculate on the reasons behind this unprecedented growth, which has seen the Colombian peso outperform its Mexican counterpart against the dollar.”
BreakingLatestNews LINK
“The peso is up 5.4% since the start of 2023, outperforming the Brazilian Real’s 4.5% gain, yet below Mexico’s peso advance of 7.8%, as sentiment over the direction of policy-making in Latin America’s No.”
Reuters LINK
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☝️ Can you imagine what these currencies are going to do when they are pegged to gold versus the dollar?
~~~~~ Goldilocks posted the following news and comments this morning July 10, 2023 ~~~~~
We first reported in this room that the New Development Bank said that the BRICS gold-backed currency would not be a part of the meeting in August. And now, we have another announcement:
HILARY JOFFE: “BRICS currency is not on the cards. Despite what politicians have said, it is not on the agenda for the summit in SA.”
As we have mentioned before, the New Development Bank has asked countries joining the BRICS system to strengthen their National currencies through backing of their monetary system with gold or other commodities.
We have been witnessing major strides in countries becoming Basel 3 compliant in the East through Article 4 consultations being reported. And when they do challenge the dollar with their own single trading currency in the East backed by gold, it will be able to do what they want it to accomplish.
Basel 3 compliance will strengthen their currencies and add value to them, a single BRICS trading currency backed by gold at a later date will challenge the dollar.
© Goldilocks
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“The Saudi Central Bank (SAMA) has issued the Implementing Regulations for the Law of Payments and Payment Services to support the objective of enhancing the soundness and efficiency of the payment systems infrastructure in Saudi Arabia.”
The Saudi Arabian Monetary Agency (SAMA) is the kingdom’s central money and banking authority.
It regulates commercial and development banks along with other financial institutions.
Going forward, Saudi Arabia has new regulations to guide their monetary system into the new QFS.
© Goldilocks
https://tradearabia.com/touch/article/BANK/411123
https://www.britannica.com/place/Saudi-Arabian-Monetary-Agency
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Want to know why those stablecoins haven’t been voted on within the first week of July?
We have a strong focus on the enforcement of cryptocurrency engagement at this time.
Even though this is needed for now, a move towards collaborative efforts between the SEC and the CFTC is strongly being encouraged for cryptocurrency innovation and growth.
The dust is settling and a lot is taking place behind the scenes. Monetary policies are expected to be done by Saturday. Perhaps we will see the vote this week on Stablecoins.
© Goldilocks
https://heraldsheets.com/ex-sec-and-cftc-chairs-propose-new-crypto-regulatory-approach/
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“India And Tanzania Started Trade Settlements In Local Currencies: Jaishankar”
India is reporting another trade settlement in their local currency with Tanzania.
New Market patterns are being formed in currency developments trading in local currencies instead of the dollar.
© Goldilocks
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JUST IN: $820 billion Standard Chartered Bank predicts Bitcoin will reach $120,000 by the end of 2024.
@WatcherGuru
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