Goldilocks’ Comments and Global Economic News
Good evening Dinar Recaps,
Goldilocks posted comments and news links on the global financial system:
Brics bank strives to reduce reliance on the dollar | Financial Times
“The development bank set up by the BRICS nations plans to begin lending in the South African and Brazilian currencies as part of a plan to reduce reliance on the dollar and promote a more multipolar international financial system, according to its president. We’re going to try to either do a currency swap or issue debt. And also in rupees.” The bank already lends in renminbi.”
On the first day of the BRICS Summit, the process of trading in local currencies has begun. Multipolarity has begun.
Several countries are beginning to have equal amounts of power going forward for those who join the BRICS system. This equal amount of power will begin to erode on the dollar because it will have to begin sharing money velocity in trade from this point forward.
This levels the playing field and creates a transition of power at the same time for our world.
It begins.
© Goldilocks
https://www.ft.com/content/1c5c6890-3698-4f5d-8290-91441573338a
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Visualized: U.S. Corporate Bankruptcies On the Rise
https://www.visualcapitalist.com/visualized-u-s-corporate-bankruptcies-on-the-rise/
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S&P downgrades five US banks following Moody’s lead | CNN Business
https://www.cnn.com/2023/08/21/business/sp-us-bank-downgrades/index.html
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🇮🇳 India to ban rare metals exports
The Indian government is considering imposing an export ban on lithium, beryllium, niobium and tantalum as a strategic move aimed at ensuring the country’s self-sufficiency in essential minerals, Business Standard reported
These metals are vital to India’s defense, aerospace, and engineering industries.
“The government is planning to introduce a ban on the export of these minerals because of their importance in powering sectors critical to national security and technological advancements,” a senior official said.
As of 2022, China accounted for 70% of global rare metals exports, United States Geological Survey (USGS) data shows. Therefore, with other actors withdrawing from this market, its role as a critical supplier will increase further.
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“Comex Inventories Plummet – Is A ‘Vault-Run’ Underway?”
We have seen an acceleration of gold leaving the vaults inside the Comex as of late.
The acceleration of silver has not seen the same fate, but the amount of silver registered in the Comex has significantly declined.
The Metals Market is the canary in the mining shaft that flies out to signal danger. The price of gold rises during times of economic crisis.
At some point, we are going to see a release of caps on the Metals Market that will lead to a repricing event.
When gold is free, so are we.
© Goldilocks
https://seekingalpha.com/article/4535043-comex-inventories-plummet-is-a-vault-run-underway
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Gold, Silver, Platinum Forecasts – XAG/USD Rallies 2.4% As Gold/Silver Ratio Declines | Nasdaq
https://www.fxempire.com/forecasts/article/gold-silver-platinum-forecasts-xag-usd-rallies-2-4-as-gold-silver-ratio-declines-1369517
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For the past few years, we have witnessed a redefining of indicators in the market to account for changing market trends.
The manipulation of these indicators holds economic readings at a steady level. They have hidden many volatile reactions to shield us from the view of an economic crisis.
Take a look at the history of the Dow. (34,000) Did you know we were at 34,000 in 2021? This is called stagflation – meaning that we are not going up or down. How can this be when so many people have lost their jobs? Answer: It is the manipulation of economic indicators.
These economic indicators have been fed a great deal of monetary (debt) to keep this hidden from 70% of the market whereby investments are made by consumers.
We are coming up on new monetary policies these next few weeks being set forth into the economic world.
A releasing event into these new economic indicators based upon new digital assets being integrated into the market will cause fluctuations.
We will attempt to navigate ourselves through turbulent times even though much of it is being hidden.
Any new asset or major shift in opportunities integrated into our markets creates a shift in attention and money flow. Markets are reformed by them in new price patterns and attempts to find equilibrium take time.
We are in this together.
© Goldilocks
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Putin, Xi, and BRICS Allies See Chance to Shake Up World Order
https://finance.yahoo.com/news/emerging-market-bloc-wants-shake-040107444.html
BRICS and the Evolution of Global Finance: Why Blockchain Payment Systems Are the Way Forward Part 1 – Modern Diplomacy
https://moderndiplomacy.eu/2023/08/21/brics-and-the-evolution-of-global-finance-why-blockchain-payment-systems-are-the-way-forward-part-1/
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Gold and the ‘G7 of the East’ | GoldSeek
https://goldseek.com/article/gold-and-g7-east
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Blockchain in Energy Market is in huge demand | GridPlus, BTL
https://www.openpr.com/news/3172884/blockchain-in-energy-market-is-in-huge-demand-gridplus-btl
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Revolutionizing Cross-Border Payments: Ripple and Stellar Ride the SWIFT Integration Wave
SWIFT Integration enhances settlement transparency, aiding market participants, meeting regulatory demands, and collaborating with Ripple and Stellar for blockchain advancements, reshaping global transactions.
Amazon partners with Ripple to integrate XRP for efficient e-commerce payments.
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Cross-Border E-Commerce: The Future of Retail in the Asia-Pacific
https://fagenwasanni.com/news/cross-border-e-commerce-the-future-of-retail-in-the-asia-pacific/49645/
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The European Securities and Markets Authority (ESMA) has launched a consultation relating to the authorization and operating procedures for crypto asset service providers (CASP).
This provides a framework to guide the activities of service providers under the Regulation on Markets in Cryptoassets (MiCA), which entered into force in the European Union on 29 June 2023.
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What is digital infrastructure? | Colt Technology Services
Asia-based digital exchange AsiaNext has selected Colt Technology Services to provide digital infrastructure solutions across its digital securities and crypto derivatives trading operations.
AsiaNext offers integrated listing, trading and post-trade services for digital assets, aiming to grant institutional investors access to a range of digital asset and crypto derivative trading opportunities. This could help to facilitate capital efficiencies for institutional investors, the organization says.
Designed for capital markets, Colt’s digital infrastructure solutions have been chosen to enable high frequency-trading. Colt PrizmNet provides deterministic low latencies for the delivery of data, software, content and financial services.”
👆Asia has come a long way. Pay close attention to the above article. They have chosen a digital infrastructure solution through Colts.
In simple terms, digital infrastructures connect investors to the global markets.
© Goldilocks
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The Next Money Model: Unveiling the Cryptocurrency VSL Revolution** https://medium.com/@lumintuasyik/the-next-money-model-unveiling-the-cryptocurrency-vsl-revolution-cb54fd3cf142
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Seven Reasons Credit Should Welcome ISO20022
https://www.credittoday.net/public/Seven-Reasons-Credit-Should-Welcome-ISO20022.cfm
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JUST IN: 🇸🇦 Saudi Arabia Foreign Minister to attend BRICS Summit in South Africa.
@WatcherGuru
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The Russian Central Bank says it plans to begin classifying the digital ruble, the nation’s CBDC, as a 600 Russians to Trial CBDC Next Week: Pilot Begins
The Russian digital ruble pilot proper will begin next week, says the Central Bank, with 600 citizens set to become the first to use the CBDC.), and will likely eventually oblige banks in the country to follow suit.
Central banks typically classify assets such as fiat cash, central bank reserves, and government bonds issued by nations with high credit ratings as “high-quality liquid assets (HQLAs).”
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600 Russians to Trial CBDC Next Week: Pilot Begins
The Russian digital ruble pilot proper will begin next week, says the Central Bank, with 600 citizens set to become the first to use the CBDC.
https://cryptonews.com/news/600-russians-trial-cbdc-next-week-digital-ruble-pilot-begins.htm
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Top MP: China, Russia’s CBDCs May Be Compatible
A leading Russian lawmaker says China and Russia’s CBDCs may be “compatible” and could be used to make international payments between the nations.
https://cryptonews.com/news/top-lawmaker-suggests-china-russias-cbdcs-are-compatible.htm
The digital ruble is considered a high-quality liquid asset. The above gives you information on how important the introduction of this digital asset really is going forward.
Comments and testing of the digital ruble are currently in play. If accepted as is on October 1st, 2023, the digital ruble will be implemented.
This is a highly transformative event capable of creating a balance of power in the Currency Market.
© Goldilocks
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The Brazilian President says he wants Argentina to join the BRICS group of emerging nations.
Keep a close eye on Argentina and Indonesia.
Russian President Vladimir Putin says BRICS works for the global majority.
Read: https://x.com/goldtelegraph_/status/1694030289222164531?s=46
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BREAKING: BRICS Needs XRP. PROOF!
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Financial Innovation and Technology for the 21st Century Act – H.R. 4763
The Congressional Research Service (“CRS”) reviewed proposed legislation, H.R. 4763 (“Financial Innovation and Technology for the 21st Century Act”), that would change the way digital assets are regulated (see related coverage).
CRS explained that under the Act, if a digital asset runs on a decentralized blockchain, the CFTC would be the designated regulator. CRS said that by classifying certain digital assets as commodities, the Act might address the “perceived digital asset regulatory gap” by (i) providing the CFTC exclusive jurisdiction over cash or spot market digital commodities and (ii) requiring entities trading digital commodities to register with the CFTC.
CRS explained that digital assets that qualify as securities would be exempt from existing regulations if they comply with the Act’s (i) restrictions on transaction amounts, including non-accredited investor access caps and purchaser limits, and (ii) issuer disclosures.
Commentary
The SEC’s failure for these many years to give any consideration to the development of a workable regulatory scheme for digital assets puts Congress in a bind. The Ripple case created further uncertainty as to whether the SEC even has jurisdiction over many digital assets. Now there is real pressure on Congress to adopt a digital asset framework, but the legislators must do so without the regulatory groundwork that should have been provided by the SEC.
Fried Frank Harris Shriver & Jacobson LLP – Steven Lofchie
https://agriculture.house.gov/uploadedfiles/fit_for_the_21st_century_act_of_2023.pdf
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