Goldilocks

Goldilocks’ Comments and Global Economic News

Good evening Dinar Recaps,

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

BRICS Summit 2023: World leaders to discuss BRICS expansion | World News

Events to watch!

📌 BRICS Summit – August 22-24 👉🏻 Link to Official website
(Possible gold standard announced, possible trade currency set and put into action)

📌 Protocol 20 implementation – August 22 👉🏻 Link to Website
(Full implementation by the 22. Moving liquidity to Stellar via other tokens. Wrapping them in Stellar protocols, and being able to “trade” those assets)

📌 Jackson Hole Fed meeting – August 24-26 👉🏻 Link to website
(Titled – “Structural Shifts in the Global Economy”. Discussions, lectures, and possible new monetary policy)

📌 ASEAN Summit in Jakarta, Indonesia – September 5-6 👉🏻 Link to Website (Three major issues of the common interest, namely green infrastructure and resilient supply chains, digital transformation and creative economy, and sustainable and innovative financing, countries of SE Asia)

📌 G20 Summit – September 9-10 👉🏻 Link to website
(Meeting between the 20 greatest powers in the world. Everything from trade to monetary policy can and is expected to be discussed.)

📌 Voting on Protocol 20 – September TBD 👉🏻 Link to website

(TBD – we don’t have a date set in stone yet for voting on the implementation of Protocol 20)

Each one of these events represents a chance for new monetary policy changes. But first, we need to see gold attempt to “break out” of its below 2000 holding pattern.

“When gold is free, so are we”

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Dee and I received word this morning from our CBI Banker contact in Iraq regarding the article that came out on their interest in joining the BRICS system.

He stated that this was true and plans are in the works, but “not yet.”

This move would require other countries to settle their payments inside the BRICS currency increasing the value of their local currency.

© Goldilocks

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Iraq’s entrance into the BRICS System would give them a real rate to settle their oil payments inside a digital asset-based trading system.

© Goldilocks

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“The Central Bank of Nigeria (CBN) has said that effective August 31, 2023, all applications for Form M must be accompanied by a valid Price Verification Report (PVR), which must be generated from its price verification portal.”

Form M is an electronic application form used by clients to purchase foreign currency, so they can fulfill foreign currency payments in their trades.

Trade mechanism changes like this are no accident. Look around you. Trade mechanism changes are happening everywhere.

By the way, “Nigeria Imports from Iraq was US$7.05 Million during 2021, according to the United Nations COMTRADE database on international trade.”

Watch the water.

https://shipsandports.com.ng/form-m-must-now-be-accompanied-by-price-verification-report-cbn/

https://tradingeconomics.com/nigeria/imports/iraq

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👆”If monetary policy or fiscal policy impacts the price level, that country’s relative price level is higher relative to other countries, making its goods more expensive. This leads to a decrease in the demand for that currency, and therefore a depreciation of that currency.”

The above article has more to do with “leveling the playing field” than indicating an exchange rate change my friends.

This keeps price manipulation from happening and gives an equal chance to produce more demand for their currencies inside a trade leading to an increase in value on both sides of a trade.

KhanAcademy Link

Mexico replaced China as America’s top trade buddy — and it shows how the global economy is rapidly transforming

https://www.businessinsider.com/us-mexico-china-trade-world-economy-changing-2023

A “Double Bottom” is a bullish reversal pattern. In this case, it is appearing at the end of a bearish trend. This is a signal of a potential reversal.

Assuming we hold a bottom at the end of September, we will have gone through our monetary policy changes and much of our market corrections.

The ability to implement the new digital asset-based trading system through the activation of our tokenized assets currently in progress may begin based on real values.

Here, we will look to see if the caps on gold are released and eventually reset to back the tokenized assets in our new digital economy.

Oil is currently going through reforms as well and gold is attached to many of these new monetary mechanisms. When we reach the end of September, the Markets will let us know if we can begin seeing new prices on the commodity sector capable of supporting our new digital asset-based trading system.

https://goldseek.com/article/gold-stock-correction-finally-hits-target-1

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Implications Of Quantum Computing On Cryptocurrency Security: A Detailed Study | MENAFN.COM

https://menafn.com/1106895670/Implications-Of-Quantum-Computing-On-Cryptocurrency-Security-A-Detailed-Study

Dow Jones – DJIA – 100 Year Historical Chart | MacroTrends

https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart

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Inflation-Adjusted Return: Definition, Formula, and Example
Investopedia Link

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“We’re going to tap (the) Indian market – rupees – maybe by October in India,” Kazbekov said.
“Now we start thinking seriously… to use one member country’s currency to finance projects with that currency in another member. Let’s say, a project in South Africa to be financed in CNY (Chinese yuan), not with USD (U.S. dollar),” he said.”

Last week the New Development Bank issued a bond denominated in the local Rand currency. Listed as ZAR, total of $1.5B was issued and set for maturity in 3 or 5 years. Now we see the NDB stating they are planning to issue a bond denominated in local Rupee currency. The BRICS bank is making a point of issuing bonds in local currency for local projects within member states. This is part of how they plan on providing for their members and avoiding imposed sanctions. The Rupee bond is expected to be issued by October.

Business-Standard Link
Reuters Link
NDB Link

A foreign currency convertible bond (FCCB) is a convertible bond that is issued in a foreign currency, which means the principal repayment and periodic coupon payments will be made in a foreign currency. For example, an American-listed company that issues a bond in India in rupees has, in effect, issued an FCCB.

Investopedia Link

👆 Could we see this financed by sovereign gold bonds? Time will tell.

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Market Digests $1 Trillion Jump in T-Bill Supply Without Hiccup

https://finance.yahoo.com/news/market-digests-1-trillion-jump-180034939.html

👆Okay, money has been injected into the market, but will inflation eat into the profits before those T-bills mature is the question?

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Explained | The BRICS common currency push

The Hindu Link

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BRICS commodity-backed currency could promote Multipolar Currency of the Future – Naija247news

Naija247News Link