Goldilocks’ Comments and Global Economic News for Monday afternoon, August 28, 2023
Good afternoon,
Goldilocks posted comments and news links on the global financial system:
Digital clarity on crypto assets has become a major issue.
There are four bills currently in development that are designed to make things more user-friendly for the retail market and the government.
“These include the Financial Innovation and Technology for the 21st Century Act (FITCA), the Responsible Financial Innovation Act (RFIA), the Digital Asset Market Structure Bill (DAMS), and the Digital Commodity Exchange Act (DCEA).”
US Regulators are currently working on these bills in order to move away from a punishing entity to an encouraging entity going forward. More clarity will give guidance and a path forward for everyone involved in the new digital economic system.
Meanwhile, the stablecoin industry is growing significantly despite the challenges taking place in cryptocurrency clarity.
It is becoming increasingly clear that stablecoins will need assets to back them and investors are preparing themselves for this implementation.
© Goldilocks
https://www.thecoinrepublic.com/2023/08/25/four-bills-that-could-solve-crypto-regulation-issues-in-the-u-s/
https://cryptomode.com/stablecoin-market-grows-robustly-and-defies-crypto-slump/
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How Digital Payment Records are Reshaping Financial Management
And finally, “Digital Payment Records” are beginning to form and streamline new ways of managing companies going forward.
This new digital mechanism can show strengths and weaknesses of a company along with paths forward that promote more revenue.
The implementation of this phase of the digital economy is expected to begin January 1st with a soft implementation phase working towards full integration by the month of April in 2024.
Does this mean we have to wait until next year to see currency revaluations? Time will tell on this one. It does appear to be the final piece of the puzzle we are looking for going forward, but companies must be liquidated before they can be offered to the general public. And, timelines have been known to be moved when needed.
Let’s keep a close set of eyes on the currency reforms and revaluations that take place between now and then to see what we need to do. Windows of opportunity happen every day in the markets, this one is no different.
© Goldilocks
https://tribuneonlineng.com/how-digital-payment-records-are-reshaping-financial-management/
https://www2.deloitte.com/nl/nl/pages/tax/articles/fietsregeling-kan-worden-toegepast-naast-reguliere-reiskostenvergoeding.html
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JUST IN: 🇭🇰 Hong Kong officially launches its first Bitcoin & crypto trading platform.
@WatcherGuru
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Understanding the growing use of local currencies in cross-border payments – Atlantic Council
https://www.atlanticcouncil.org/blogs/econographics/understanding-the-growing-use-of-local-currencies-in-cross-border-payments/
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U.S. Department of the Treasury, IRS Release Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers | U.S. Department of the Treasury
https://home.treasury.gov/news/press-releases/jy1705
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Venezuelan Crude Oil Output, Exports to the US Seen Rising If Sanctions Lift – Bloomberg
https://www.bloomberg.com/news/articles/2023-08-25/sanctions-lift-would-boost-venezuelan-oil-exports-to-the-us
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Goldman Sachs: A government shutdown would be ‘manageable’ for the economy. That’s why it’s likely to happen | CNN Business
https://www.cnn.com/2023/08/21/economy/government-shutdown-goldman-sachs-economy/index.html
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Fed’s Jerome Powell warns the fight against inflation is far from over: NPR
https://www.npr.org/2023/08/25/1195908947/federal-reserve-jerome-powell-inflation-economy-interest-rates
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BRICS Now Controls 30% of the Entire Global Economy
https://watcher.guru/news/brics-now-controls-30-of-the-entire-global-economy
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Rupee Strengthens Against U.S. Dollar
https://www.bqprime.com/economy-finance/indian-rupee-strengthens-against-us-dollar-6
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Broker-Dealer Proprietary Trading Groups: FINRA May Be In Your Future
https://katten.com/broker-dealer-proprietary-trading-groups-finra-may-be-in-your-future
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The Coming Gold And Silver Price Crash!
https://www.youtube.com/live/4TOgYbf1lmA?feature=shared
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“On July 31, 2023, the US Department of Energy (DOE) officially put copper on its critical materials list, marking the first time a US government agency has included copper in a “critical” list, following the examples set by the EU, China, Canada, and many other major economies.”
Copper-no… https://www.kitco.com
Copper now classified as US critical mineral, and rightly so | Kitco News
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👆 I will say more about this tomorrow. You already know by the number of times I have been sharing in this room how important copper is in the next economy to me. Are you still saving those copper coins? How many times have you heard me ask you that question? It’s important. Now you know why…
© Goldilocks
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IEA – International Energy Agency
“Critical minerals such as copper, lithium, nickel, cobalt, and rare earth elements are essential components in many of today’s rapidly growing clean energy technologies – from wind turbines and electricity networks to electric vehicles.”
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