Goldilocks’ Comments and Global Economic News Thursday AM 11-30-23
Good morning Dinar Recaps,
Early 2024, the BRICS leaders are considering what form of “unified payment system” they want for their countries who belong to this alliance.
It will allow them the ability to trade in local currencies instead of the dollar creating more demand for their own national currencies and increasing their values.
This alternative payment system will begin in the form of recommendations allowing them to move forward with their new monetary system.
“The Minister stressed that national currencies are already actively replacing the dollar in the calculations of the Russian Federation with China and India.”
In other words, China, Russia, and India are already forming new prices in local currencies with a select group of countries increasing the demand for them and their values in the process.
As these countries solidify trading partnerships, higher values will be supported through free trade agreements among themselves and new countries coming on board.
© Goldilocks
TV BRICS Link
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Crypto custody firm Copper (https://www.theblock.co/post/176752/crypto-custodial-firm-copper-raises-196-million-in-series-c-round) on Wednesday launched a new digital assets brokerage platform for institutional trading in the United Arab Emirates (https://www.theblock.co/post/232662/uae-central-bank-issues-aml-cft-guidance-for-crypto).
Called Copper Securities, the platform combines a suite of blockchain-based financial and custodial services, with securities financing and payments applications to follow in the next 12 months. According to a press release, the new platform will be integrated with Copper’s custodial partners, providing access to financial instruments in over 90 markets across the globe.
The new platform offers institutional investors access to tokenized securities, allowing traders to leverage blockchain (https://www.theblock.co/post/265130/sei-blockchain-to-add-ethereum-virtual-machine-support-in-v2-upgrade) technology and smart contracts to manage traditional instruments such as equities.
https://www.theblock.co/post/265190/crypto-custody-firm-copper-launches-institutional-trading-platform-for-tokenized-securities
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Protocol 20 implements 12 new Core Advancement Proposals that, combined, introduce the changes required to enable Soroban smart contracts on Stellar Mainnet. With this upgrade around the corner, there’s a lot to unpack! Dive into the overview below Stellar Link Twitter Link
US dollar continues to lose investors
The US dollar continued its losing streak while Treasuries steadied after rallying on further bets that the US Federal Reserve is nearing the end of its rate hike cycle.
Hopes that interest rates have peaked and the economy will avoid a recession spurred stocks and government bonds this month.
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