Goldilocks’ Comments and Global Economic News Friday 2-23-2024
Good Evening
Hong Kong Central Bank Announcement:
“On Tuesday, the Hong Kong Monetary Authority (HKMA) released an 11-page circular outlining its guidelines for tokenization and digital asset custody for institutions authorized in the region.
The recent guidance from the Hong Kong Monetary Authority (HKMA) supplements the licensing framework introduced last year, providing crypto exchanges with a clear pathway to operate under regulation.”
Hong Kong has just recently been given the green light to move forward with their crypto and stablecoin regulations.
Do you remember the pilot program they were on to standardize and move forward with the digital versions of our foreign currency in their sandbox?
It will be important for us to watch as they advance forward with their new guidelines as it will pertain to monetary shifts in prices on the Forex Market. Crypto Times
© Goldilocks
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Global Banking Announcement:
“In a move that underscores the evolving landscape of international finance, a consortium of leading banks, including BBVA, BofA Securities, ING, Mashreq, Morgan Stanley, and Standard Chartered Bank, has embarked on a pivotal mission. Authorized by an undisclosed bank, these financial titans are set to traverse continents, with meetings scheduled across Asia, Europe, and the United States on February 20, 2024. Their objective is clear yet complex: to assess the appetite of global investors for USD-denominated Basel III compliant Tier 2 notes, a critical component in strengthening the banks’ capital structure.”
Global Banks are currently preparing for Tier 2 Capital note exchanges under Basel 3 guidelines. Banks are accumulating these foreign currencies to support their banking structures.
What are Tier 2 Capital notes? These notes are designated as second or supplementary layers of a bank’s capital. And, they are commonly known as revaluation reserves or foreign currencies.
What makes them revaluation reserves under Basel 3 guidelines is the expectation of an increase in their value due to the backing by gold. Many of the currencies that are coming back onto the market on the local level in countries around the world are being supported by gold reserves.
Basel 3 is what makes these newly reinstated currencies have the need to be repriced on the market offering a Level Playing Field with other currencies around the world. HO1 US Investopedia BNN Breaking
All roads lead to gold, and gold will set us free.
© Goldilocks
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Don’t be surprised if Artificial Intelligence doesn’t move some of our timelines going forward closer than we would have seen it done without it.
© Goldilocks
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I may leave that article above out to stand alone today for some time. For those of you who still have doubts that this is going to happen, look closely at that article until you finally get it. It’s already happening, but it wasn’t a push of the button was it?
It always has been, is, and will be a process. One day, we will wake up to new price changes, and it will take us all by surprise.
Your best intel going forward may very well be traders who work these markets.
You know me by now, I do not want you to get too dependent on any intel provider. Watch for yourself rate changes on the CBI.iq
© Goldilocks
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JPMorgan Chase chief Jamie Dimon cashed in about $150 million of his stock in the bank — the first time the head of the largest US lender has sold shares since taking charge in 2005.
Dimon, one of the longest-serving chief executives on Wall Street, unloaded 821,778 shares of JPMorgan, according to an SEC filing Thursday.
The selloff is part of a larger plan the bank revealed in an SEC filing in October to sell 1 million of the 8.6 million shares Dimon and his family own.
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This Housing Market is Still Frozen | Wolf Street
