Goldilocks’

Goldilocks’ Comments and Global Economic News Sunday Evening 11-12-23

Good evening

The American Financial System: US

1. Delinquent commercial real estate loans at US banks have hit their highest level in a decade.

2. US bank stocks have collapsed to all-time lows when measured against the S&P 500 index.

3. Jamie Dimon and his family will sell $141 million of JPMorgan stock in 2024.

4. US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings.

5. The 60+ days delinquency rate of the subprime-backed ABS that Fitch tracks rose to 6.1% in September… this represents a RECORD.

These are the facts.

And sometimes the facts are served cold.

Read: https://x.com/goldtelegraph_/status/1723449486381605230?s=46

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This has been a great year for fans of gold-based money. As part of their migration away from the fiat dollar-based international financial system, Russia has reportedly introduced widespread “gold-based checking accounts” at major commercial banks — a simple and effective form of “digital gold” — while the government of India has begun issuing gold-based government bonds.

International megabank HSBCHBA 0.00% just said that it is launching a “tokenized gold” platform, making gold-based transactions possible among HSBC’s many clients worldwide. Of course there is no evidence that the Federal Reserve is going to jump on this bandwagon anytime soon.

However, at the State level, many US States — actually, most of them — are tiptoeing toward creating an alternative gold-based currency platform.

https://www.forbes.com/sites/nathanlewis/2023/11/07/us-states-leading-the-move-to-a-golden-dollar/

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On January 20, 2024, the Global Gold Monetary Fund will launch its gold-backed currency in the Philippines. (See link below) They have invited other countries to do the same.

Many countries have already started this process including the United States on the state level. It is a movement that is growing and rapidly becoming an alternative to the current monetary system.

At this time, the Philippines are expected to be done with their revisions and legislation process by the end of the year.

The Philippines have created what is called a Sovereign Wealth Fund capable of being backed by precious metals, and they are expected to be fully operational by the end of this year.

© Goldilocks

ChannelNewsAsia Link
ManiliaTimes Link

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Ethereum Insider Ready For Battle: ETH Founders’ Fraud Proof Coming In 4-5 Days

https://bitcoinist.com/ethereum-insider-eth-founders-fraud/

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Exporters to be able to exchange currencies through foreign brokers

KoreaJoongAngDaily Link

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Abu Dhabi Finance Week (ADFW) 2023, set to run from 27 to 30 November, will host an impressive assembly of financial leaders, boasting a collective $27trillion in assets under management.

The four-day event will encompass over 40 events and more than 180 sessions, drawing in over 10,000 attendees from 3,500 companies worldwide.

Among the notable participants are CEOs from trillion-dollar asset management firms including Franklin Templeton and State Street, investor Ray Dalio, leaders of sovereign wealth funds, and top executives from global financial institutions such as Goldman Sachs, Morgan Stanley, and BNY Mellon.

https://thefintechtimes.com/adfw-2023-finance-giants-convene-with-27trillion-in-assets/

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JPMorgan is giving institutional clients more control over payments via JPM Coin — marking the company’s latest blockchain-related milestone.

Its new programmable payments offering is a feature for blockchain-based accounts on the JPM Coin System, a permissioned payment rail and deposit account ledger letting clients transfer dollars within the system.

Programmability lets clients place rules for funding a bank account, for example — or set parameters for executing payments based on margin calls, asset delivery or meeting contract requirements.

“Blockchain technology is the ideal infrastructure to which programmable payments can be applied as it enables rules and bank accounts to be integrated in a native manner, enabling cases including dynamic direct debits and multi-party escrow accounts,” a spokesperson told Blockworks in an email.

JPMorgan’s Onyx Digital Assets network — launched in 2020 — enables the tokenization of traditional assets, such as US Treasurys and money-market products.

https://www.blockworks.co/news/jpmorgan-blockchain-payments

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Russia warns that the United States might soon run out of paper for printing dollars needed to service its debt.

The Central Bank of Russia is actively engaging in large-scale buy-and-sell operations in the foreign exchange market.

These operations involve selling tenders worth 0.8 billion Rubles ($8.7 million) and using resources from the National Wealth Fund.

https://www.cryptopolitan.com/russia-us-running-out-of-paper-for-dollar/

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We are entering a new era of value creation for banks.

The new digital economy is creating tokenized payments that will encroach upon the printing of paper money.

These adjustments in volume along with supplying new volumes for countries overseas printing their money in their own local currencies and digital tokens are creating shifts in the values of the banking system as we speak.

You could say that the whole Global Nation is in the midst of adjusting new settings or mechanisms to execute new volumes and new currency valuations.

Setting a price on each of these changes will be determined by the new values placed on our tokenized assets such as gold, silver, and other commodities as we shift from a stock-driven to a commodity-driven Market.

Look for the price of gold to begin moving to higher levels to engage these new prices and offer liquidity for them to be priced in real value.

© Goldilocks
TheBanker Link