Goldilocks’ Comments and Global Economic News for Wednesday morning August 23, 2023
Good morning Dinar Recaps,
Goldilocks posted comments and news links on the global financial system:
Attach your mind and heart to truth and service, and there will be no limits to what you can achieve.
© Goldilocks
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U.S. National Security Adviser Jake Sullivan said President Joe Biden will call for reforms at the International Monetary Fund and World Bank during the G20 summit scheduled for New Delhi next month.
Biden “will focus a significant portion of his energy while there on modernizing multilateral development banks, including the World Bank and the International Monetary Fund,” Sullivan explained.
Sullivan also confirmed that Biden will attend the G20 summit next September in the Indian capital, New Delhi.
India has been chairing the G20 since December 1, 2022, with the 18th Summit of G20 Heads of State and Government to be held from 9 to 10 September 2023.
https://economy-news.net/content.php?id=35810
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Chinese President Xi Jinping says that relations between China and South Africa have entered a “golden era” and are set to deepen.
Interesting choice of words.
Read: https://twitter.com/GoldTelegraph_/status/1694331200343626055
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The BRICS Nations, The Jackson Hole Symposium, and the G20 are all about monetary policies.
Monetary policy changes the money supply and credit availability to countries which can also affect exchange rates.
In this case, we have Tokenized Assets backed by Commodities going forward that will shift prices on goods and services and exchange rates of our local currencies around the world.
On September the 10th, these new monetary policies will be encouraged to move forward with proposed revisions by the G20.
This is not calling an RV date. I am just letting you know what the next steps are after these monetary policies go into effect.
© Goldilocks
IMF Link
https://www.investopedia.com/articles/forex/11/golds-effect-currencies.asp
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“BRICS Bank shifts away from the dollar, to issue 30% of loans in local currencies”
This would not be a smart move unless there is an awareness that the appreciation of those currencies being loaned are about to appreciate.
© Goldilocks
https://www.thecable.ng/brics-bank-shifts-away-from-dollar-to-issue-30-of-loans-in-local-currencies
http://treasury.worldbank.org/en/about/unit/treasury/ibrd-financial-products/local-currency-financing
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China says African countries want industrialization over infrastructure
https://www.reuters.com/world/china-says-african-countries-want-industrialisation-over-infrastructure-2023-08-22/
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A more inclusive path beneficial for a multipolar world
“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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