Goldilocks’ Comments and Global Economic News Friday Evening 10-27-23
Good Evening
Chinese digital yuan CBDC used for first time to settle cross-border oil deal
CoinTelegraph Link
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Iraq has moved from a testing phase of utilizing their “point of sale” devices to expanding their use in all parts of the country.
Their citizens are being encouraged to use their bank cards at this point, and these cards are expected to expand beyond Iraq in their ability to be used electronically internationally.
This is all done to support their digital electronic financial inclusion in Iraq. One of the requirements for their use requires protection against fraud. Merchants are being asked to look at a customer’s license before they have the privilege of using their point-of-sale electronic devices.
The use of the dinar is now moving into the private sector where retail markets can receive the benefits of their reestablished use of the dinar.
© Goldilocks
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Through the Proposed Rule, the CFPB aims to establish a framework for consumers that would allow them to authorize third parties to safely collect their personal financial data and enable access to products and services provided primarily by Fintechs. The Proposed Rule is comprehensive in scope and application, with potential impacts on a wide array of data providers (depository and non-depository institutions), third parties, and data aggregators.
https://www.jdsupra.com/legalnews/first-impressions-on-cfpb-s-proposed-5242206/
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ARMONK, N.Y., Oct. 26, 2023 /PRNewswire/ — Today IBM (NYSE: IBM) launched Watsonx Code Assistant, a generative AI-powered assistant that helps enterprise developers and IT operators code more quickly and more accurately using natural language prompts. The product currently delivers on two specific enterprise use cases.
First, IT Automation with Watsonx Code Assistant for Red Hat Ansible Lightspeed, for tasks such as network configuration and code deployment. Second, mainframe application modernization with Watsonx Code Assistant for Z, for translation of COBOL to Java on IBM Z.1
IBM Newsroom Link
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Economics of Payments XII Conference, October 27, 2023
https://www.youtube.com/live/-RqpPr6wnkY?feature=shared
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And so it begins. The Petro Dollar is now being challenged.
PetroChina completing their first International Crude Oil Trade in Digital Yuan marks the beginning of competition between the use of the Petro Yuan or the Petro Dollar in digital oil trades.
Countries in the East are moving towards localized national currencies enabling them to make a choice going forward on which digital national currency preference they wish to use.
© Goldilocks
https://slashdot.org/story/23/10/24/0133209
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Wall Street giants are preparing a HUGE $48.3 TRILLION BAZOOKA aimed at the Crypto market!
https://youtu.be/rWHd9K6mDoU
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Deutsche Bank and Standard Chartered Test SWIFT Killer for Stablecoins and CBDCs.
The Universal Digital Payments Network instructs and allows transactions, ranging from stablecoins on public blockchains to central bank digital currencies.
CoinDesk Link
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Something consistent going on here? Big jump in RWI China shipping index. Also strong US Pacific trade from LA & LB Ports….and #China #PBoC injects RMB7.5tr since June @johnauthers @EthanYWu
https://twitter.com/crossbordercap/status/1717913186513396089?t=MAqGKQDmGwhspyemacjjTQ&s=19
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👆These ports account for approximately 64 percent of global container traffic.
Container Traffic Link
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The dollar is no longer expanding. It has been contracting for some time. And now, we have a debt crisis threatening the banking system and the markets at current inflated values.
War destabilizes economies and forces resets at their end. Look for Gold and other Commodities to begin being activated for service.
Gold will rise to deflate an inflated economy and create a bridge to new paths ahead.
© Goldilocks
