Goldilocks’ Comments and Global Economic News for September 15th
On January 20, 2024, Global Gold Monetary Fund will launch it’s gold-backed currency in the Philippines.
This is a move into a gold-backed currency. Countries around the world are being invited to do the same through the GGMF.
It is a return to the gold standard for the Philippines, and it will serve as a starting point for many countries to do the same who choose to do so.
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US committee recommends royalties on minerals for EVs in sweeping reform proposal
Sept 12 (Reuters) – “A federal committee on Tuesday recommended imposing royalties on U.S. hard rock mining for the first time, a move it said could increase domestic production by providing funds for the agencies in charge of issuing new mining permits.
The proposal was part of a suite of recommendations aimed at increasing supply of the materials like lithium, cobalt, and nickel that are needed for a domestic electric vehicle (EV) industry that is key to President Joe Biden’s climate agenda.”
Live Gold Prices | Gold News And Analysis | Mining News | KITCO
Kitco News – The Society for Worldwide Interbank Financial Telecommunications (Swift) recently released the results of experiments it conducted with Chainlink (LINK), a leading Web3 service platform, which demonstrated that Swift infrastructure is capable of facilitating the transfer of tokenized value across multiple public and private blockchain networks.
Cross-Border International Trading is now traceable in real time.
“We have witnessed a high demand for transparency in the cross-border payments space. Our vision for Payments GPS is to provide clients and partners with one interface where they can track all payments across Corpay’s networks. And we don’t plan on stopping here. We’re on a mission to continue improving our infrastructure and data-sharing across all networks so we can continue delivering leading-edge transparency.”
This will allow the movement of money to be more transparent and secure especially in high volume trading of foreign currency between countries.
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The biggest oil deficit since 2007 will hit in the 4th quarter as Saudi Arabia cuts supply
Iraqi Banking Announcement:
“Announcement of the public tender numbered (2023/5) for equipping, installing and operating Iraqi and foreign currency counting and sorting machines (dollars and euros) and currency packing machines for the Central Bank of Iraq / Kurdistan Region Branch / Erbil”
Delarue Currency Counting Machines are currently being installed inside the Iraqi Banks.
This is especially important for foreign currency exchanges outside of the Middle East banking system such as currencies related to the Dollar and the Euros.
These machines will count the money and throw out counterfeit bills.
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Iraq is beginning to advance their banking reforms.
© Goldilocks https://youtu.be/eVJKTvZ6BSg?feature=shared
The United Auto Workers (UAW) began a strike on Friday against all three of Detroit’s legacy automakers, in an unprecedented move that could initiate a costly and protracted struggle over wages and job security.
After the midnight deadline for a new contract passed, workers walked out on a Ford Motor Co. plant in Michigan that makes Bronco SUVs, a General Motors Co. factory in Missouri that assembles Chevrolet Colorado pickups and a Stellantis NV plant in Ohio that builds Jeep Wrangler SUVs. The union and automakers are still far apart after weeks of talks.
The strategy, which is focused on individual plants, is designed to gradually reduce production of profitable vehicles while minimizing the impact on the UAW strike fund.
The union stated that it will expand the strike to additional locations depending on the progress of negotiations.
“Tonight, for the first time in our history, we will strike all three of the Big Three at once,” UAW President Shawn Fain said late Thursday. “This strategy will keep the companies guessing. It will give our national negotiators maximum leverage and flexibility in bargaining. And if we need to go all out, we will.”
The union said 12,700 workers at three plants will be part of the initial action. UAW members will get $500 a week from the union in strike pay.
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