Goldilocks’ Comments and Global Economic News Wednesday Afternoon 11-22-23
Good Afternoon Dinar Recaps,
On November the 15th, 2023, the London Clearing House launched on it’s Forex Clear System the market’s first Forex smart clearing service.
A smart contract looks at both sides of a trade to clear the transaction based on the terms of a contract between them through artificial intelligence. It is designed to reduce the amount of Capital Requirements needed in an Exchange. This minimizes counterparty risk between the two parties and allows a trade to move forward on the London Clearing House platform.
The LCH clears a broad range of asset classes including foreign currency exchange protocols.
The London Clearing House is the largest Global supplier of clearing services for the derivatives Market.
© Goldilocks
AssetServicingTimes Link
BOC Link
FinanceMagnates Link
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Iraq is beginning to sell US dollars to investors coming into Iraq for trade.
This is done to devalue another country’s currency while maintaining principal value in Iraq’s own currency. It looks like the de-dollarization process has begun for Iraq inside trading platforms.
As the dollar depreciates inside Iraq, it will give Iraq the opportunity to appreciate (raise in value) its own national currency.
Watch the water.
© Goldilocks
Rudaw Link
Money US News Link
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So far, we have seen country after country begin the process of De-dollarization. Clearly, there is a war on the dollar taking place, but the final battles will be in the digital space.
The move toward a Central Bank Digital Currency has already began in the narratives spoken by some of the highest leaders in our financial fields.
We all know that a retail Central Bank Digital Currency would bring about total control over the finances of the people. This is why the final battleground will take place in a place where both fear and faith will come into play.
The choices we make during this final battle will determine the course of history. It is currently being written. I truly hope everyone is paying attention.
© Goldilocks
Rumble Link
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China’s copper market is tightening, with premiums over exchange prices spiking due to demand from the renewable industry.
Cracks are emerging.
We need more copper mines to feed the upcoming transition.
Billionaire Robert Friedland has warned we are heading for a train wreck.
Read: https://x.com/goldtelegraph_/status/1727133998353113120?s=46
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Banking Announcement:
12 USC 531: Exemption from taxation. Text contains those laws in effect on November 21, 2023
From Title 12-BANKS AND BANKINGCHAPTER 4-TAXATIONSUBCHAPTER I-FEDERAL RESERVE BANKS.
§531. Exemption from taxation
Federal reserve banks, including the capital stock and surplus therein and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
https://www.law.cornell.edu/uscode/text/12/1433#
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Banking Announcement:
12 USC 531: Exemption from taxation. Text contains those laws in effect on November 21, 2023
From Title 12-BANKS AND BANKINGCHAPTER 4-TAXATIONSUBCHAPTER I-FEDERAL RESERVE BANKS.
§531. Exemption from taxation
Federal reserve banks, including the capital stock and surplus therein and the income derived therefrom, shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
https://www.law.cornell.edu/uscode/text/12/1433#
USCodeHouse Link 1
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Several articles are coming out this morning about banking reforms.
These new changes are designed to make room for new rules in the Forex Market along with minimizing investor risks for banks and clients.
© Goldilocks
EconomidTimesIndia Link
RegulationAsia Link
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In an effort, it describes as intended to help “level the playing field” between banks and nonbank consumer financial service providers that are sometimes characterized as “Big Tech”, the Consumer Financial Protection Bureau (“CFPB”) has issued a proposal to directly supervise large non-bank providers of digital consumer payment applications.[1] The CFPB announced the proposal on November 7. Comments must be submitted by January 8, 2024.[2]
https://www.jdsupra.com/legalnews/cfpb-proposes-to-level-the-playing-4054285/
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Home Sales Collapse, Prices Drop Further, Supply Jumps. People Are Finally on Buyers’ Strike
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Loan applications dropped in 2023, Federal Reserve says Marketplace
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Fed hikes may have concluded, as central banks purchase gold at a record level Kitco News Link
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This room will be closing at 12:00 noon today, and it will open up again on Friday morning.
I hope you and your family have a wonderful Holiday and find many reasons to be thankful for what you already have. Just the gift of life itself and the ability to participate in it is more than any of us could have ever imagined.
© Goldilocks
