Goldilocks’ Comments and Global Economic Evening News for September 20, 2023
Good evening
Several Quantum Technologies are interfacing today. The digital networks around the world are beginning to connect with one another for trade and payment systems.
This is an important day in history as Protocol 20 is tested for the next 6 weeks. Votes will be taken on the success of each Network interface and more from around the world.
The first link I am going to share with you is a dashboard, so you can follow the process of Protocol 20 as it comes online this morning. The other links share companies linking together today from around the world. The world as we know it is changing.
© Goldilocks
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UST IN: Apple explores launching built-in stock trading on iPhones.
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We are going to see several announcements going forward regarding Quantum Technologies joining together in ways they have never done so before.
Global Companies will be able to join digital networks allowing them to exchange goods and services and money at the push of a button within seconds.
My understanding is that Protocol 20 is up and running, and the test net portion of it will begin at 10:00 a.m. CST.
© Goldilocks
The Federal Reserve (FED) recently disclosed the launch of its dedicated instant payments division within the FedNow system. This revelation has sparked considerable interest in the financial markets, as it appears that an official report has highlighted the importance of Ripple crypto (XRP) in the context of instant payments.
https://en.cryptonomist.ch/2023/09/19/fed-role-ripple-xrp-crypto-instant-payments/
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Broadridge has announced the immediate availability of its connectivity to Swift’s API for Transaction Screening Service, and also for Swift’s newly launched Securities View service.
According to Broadridge, financial firms and corporate treasuries will be able to optimise sanctions compliance and transform their oversight and tracking of the securities lifecycle.
Electronic Payments International Link
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DTCC, Clearstream, Euroclear Call For Industry Cooperation To Support Digital Asset Ecosystem
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“The iron law in the trillion-dollar FX swaps market has broken. What now?”
Supply and demand for the dollar is fluctuating. In some cases, foreign currency exchanges on the Forex swap Market have broken down.
New demands are forming for other currencies around the world, and new electronic mechanism adjustments are underway for new price patterns going forward.
The Forex Market is growing rapidly. Foreign currency exchanges will form new price patterns going forward.
At this time, we are witnessing the merging of assets being tokenized and supported by commodities. It is a process moving through the financial system as we speak, but the timing of it’s completion will be revealed in time.
Watch the process of Protocol 20, new Basel 3 requirements for banks, repricing event for the commodity Market, and adjustments to the new digital-asset-based trading system.
© Goldilocks
Survey: Banks Prioritize Compliance When Vetting Fintech Partners
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Digital Dollar Bill Resurfaces in Congress
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The new QFS requires assets to have real values, so it can measure outcomes with accuracy.
This is what will create the speed we are looking for in the new digital economy.
Real values support operability, speed, and accuracy.
The Global Currency Reset is underway, but it is a process and not a push of a button.
The time to pay closer attention to our investments is now, but it will not happen all in one day until the day it is finished.
© Goldilocks
The new QFS requires assets to have real values, so it can measure outcomes with accuracy.
This is what will create the speed we are looking for in the new digital economy.
Real values support operability, speed, and accuracy.
The Global Currency Reset is underway, but it is a process and not a push of a button.
The time to pay closer attention to our investments is now, but it will not happen all in one day until the day it is finished.
© Goldilocks
Sibos 2023: You can’t manage what you can’t measure – the role operational data will play in the successful transition to T+1
FinTech Futures Link
Sibos 2023: The era of instant payments – global banks must turn to the latest technology – FinTech Futures
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Another warning on US Treasury market instability
The Bank for International Settlements (BIS) has warned that the $22 trillion US Treasury market could be headed for another episode of major turbulence because of highly leveraged hedge fund bets.
“Speculative positions by leveraged investors are back,” it said. Bets by hedge funds were creating conditions similar to those that led to turbulence in September 2019 and a major crisis in March 2020.
https://www.wsws.org/en/articles/2023/09/20/cjiz-s20.html
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The FOMC meeting is today.
If we do not see a rate hike today, it could signal weakness in the market to people who invest in it.
There are many factors besides this one, but the decision made today is a big one.
Let’s see what happens.
Let the volatility begin.
© Goldilocks
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WHAT’S UP
Fed Decision Looms Large; Largest Crypto Loiters
Bitcoin stood in the place where it was ($27K) heading into a Wednesday morning shrouded in ambiguity over what Federal Reserve Chair Jerome Powell may or may not convey to the market regarding rates.
Seeking to deftly thread a macro policy needle, Powell takes center stage at 2 p.m. (EST).
What seems certain (already priced in) is that the Fed Open Market Committee leaves rates unchanged. This pending potential pause has been telegraphed. Beyond that, traders will hang on every word of Powell’s “summary of economic projections,” one king-hell mother of a monologue that just might contain some vital clues as to whether the central bank intends to do any more hiking this year.
Volatility is anticipated throughout the day. As of 7:56 a.m. (EST), BTC was $27,076, according to CoinGecko.
Large coins are flat for now. Ethereum held steady at $1,600. XRP gained 1% to $0.51.
Kaspa and Maker each gained 2%.
© Uphold-Unboxed
No interest rate change today.
The markets went down today initially when that was announced at the FOMC meeting, but they have climbed back up.
Did someone say that volatility would happen before money is injected into the economy?
Look at the timing when remarks were made for no interest rate hike. Notice how it coincided with the markets falling before they were injected with new liquidity to move back up.
© Goldilocks
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House Committee Passes Bill to Ban FED from Creating a CBDC
https://watcher.guru/news/house-committee-passes-bill-to-ban-fed-from-creating-a-cbdc
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FOMC Press Conference September 20, 2023
https://www.youtube.com/live/wjgB9PjQt6Q?feature=shared
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SEC Approves Revised Privacy Act Rule
FOR IMMEDIATE RELEASE
2023-189
Washington D.C., Sept. 20, 2023 —
The Securities and Exchange Commission today approved a rule to revise the Commission’s regulations under the Privacy Act, which is the principal law governing the handling of personal information in the federal government.
The final rule clarifies, updates, and streamlines the Commission’s Privacy Act regulations. In addition, the final rule revises procedural and fee provisions and eliminates unnecessary provisions. The final rule also allows for electronic methods to verify one’s identity and submit Privacy Act requests.
“I was pleased to support this adoption because it will update the Commission’s rules with respect to this important law,” said SEC Chair Gary Gensler. “These amendments will provide more clarity on how the public can access their records maintained by the Commission and request amendments.”
The Commission last updated its Privacy Act rules in 2011. The revisions approved today will codify current practices for processing requests made by the public under the Privacy Act. This provides greater clarity regarding the Commission’s process for how individuals can access information pertaining to themselves.
Due to the scope of the revisions, the final rule replaces the Commission’s current Privacy Act regulations in their entirety.
The final rule is published on SEC.gov and will be published in the Federal Register. The final rule becomes effective 30 days after publication in the Federal Register.
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https://www.sec.gov/news/press-release/2023-189
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PayPal rolls out PY USD stablecoin to Venmo users 💥
