Goldilocks’ Comments and Global Economic News Monday Evening 10-30-23
Good evening
“The commercial banks are under heavy pressure in terms of liquidity or money management. To deal with this pressure, on one hand, various banks are borrowing from the central bank at high-interest rates under special liquidity support. On the other hand, short-term loans are taken from call money market or from other banks.”
Let’s take a close look at what this is telling us. Remember, on July the 1st, 2023, Banks all over the world and companies went to SOFR lending rates. In other words, banks are borrowing money from Central Banks that hold our gold and the opportunity to provide long-term loans “liquidity” to our banks under new SOFR settings. And, short-term bank loans are being borrowed from other banks.
Banks get the opportunity to make money off of each other, and the Central Bank gets the opportunity to make money off other banks through borrowing at discounted rates while paying at a higher interest rate that is still less than what you and I pay.
Do you see the new standard protocols in here developing and actually being utilized to test their ability to work going further? We talked about them being in a testing phase to determine ratios between banks and the Central Bank earlier this year.
On January the 16th of 2024, final rules will be put into play with a final rule. There is a chance that it could go into play earlier, but we will have to see. This is the date we have been given so far.
Gold is currently being tested as a standard for banking protocols. In the middle of January 2024, gold will become a standard protocol for lending.
The new liquidity.
© Goldilocks
https://dailyindustry.news/banks-under-heavy-liquidity-pressure/
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👆23 US states move to reclaim gold and silver as legal tender
https://www.investorsobserver.com/news/qm-news/5538391749687833👆
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JPMorgan Chase Processing $1,000,000,000 in JPM Coin Transactions Daily, Says the Bank’s Global Payments Head
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New Partnership Makes XRP and Shiba Inu (SHIB) Purchase Seamless Across the World
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‘Cryptocurrency Is Being Used To Finance Terrorism’: Cynthia Lummis Urges Crypto Regulations
https://youtu.be/Z-HOxqQuU6E?feature=shared
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This week,
The digital yuan was used for the FIRST TIME in an oil transaction.
This is a very significant milestone.
In December, the Chinese President proposed that Gulf nations utilize the Shanghai Petroleum and Natural Gas Exchange for energy transactions.
In 2022, the seven Persian Gulf countries accounted for approximately 32% of global crude oil production and possessed around 49% of the world’s proven crude oil reserves as of the beginning of 2021.
Remember this as digital currencies increasingly become more relevant in the global monetary system.
Look out for a detailed article on this topic in the days ahead.
Read: https://x.com/goldtelegraph_/status/1718762766109168090?s=46
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New Study Reveals American’s Sentiment on the Crypto Industry
CryptoPotato Link
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BRICS: Saudi Arabia Lines Up New Trade Deals Beyond Oil
https://watcher.guru/news/brics-saudi-arabia-lines-up-new-trade-deals-beyond-oil
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Consumer Sentiment Falls on Inflation Concerns as Holidays Near
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FOMC Meeting: Will Bitcoin Price Continue Recovery Post Powell Speech?
https://coingape.com/us-feds-fomc-meet-how-would-btc-price-react-to-powell-speech/
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The Treasury has opted to extend the comment period for its proposed new rules on crypto reporting requirements by two weeks. Interested parties now have until mid-November to share their thoughts with the tax regulator.
The Treasury and Internal Revenue Service pushed back the comment deadline in response to the “strong public interest” the rule has received since first proposed in August, according to a Federal Register document scheduled to be published on Oct. 25.
The proposed rule, published in late August 2023, suggests defining digital asset “brokers” as “trading platforms, digital asset payment processors, certain digital asset hosted wallet providers and persons who regularly offer to redeem digital assets that were created or issued by that person.”
https://www.blockworks.co/news/irs-treasury-crypto-reporting-requirements
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Powell’s Gonna Have a Cow When He Sees the PCE Inflation in “Core Services,” Housing, and Non-Housing Core Services
Wolf Street Link
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The Following Are Banks To Close In The State Of Texas Permanently –
Wells Fargo 11152 S. Gessner Drive, Houston
Bank of America 2601 Preston Road, Frisco; 13350 Dallas Pkwy, Dallas
Capital One 2301 E. Riverside Drive, Austin; 2910 S. Lakeline Blvd., Cedar Park
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US Central Bank Eyeing Digital Dollar to Counter BRICS Pay
https://watcher.guru/news/us-central-bank-eyeing-digital-dollar-to-counter-brics-pay
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The World Bank is warning that oil prices could be pushed into uncharted waters if the conflict in the Middle East escalates.
The World Bank just said the quiet part out loud.
Inflation always starts with energy.
Read: https://x.com/goldtelegraph_/status/1719096485776859145?s=46
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JUST IN: US Treasury to borrow $776 billion in the final three months of 2023.
