Goldilocks’ Comments and Global Economic News Monday 3-11-2024
Good Evening
“The Yuan is the world’s fifth most-used currency for trade. The IMF, which is due to review the basket’s composition later this year, must deem any new currency “freely usable,” or convertible – seen as a key obstacle for the Yuan, also known as the Renminbi. But the Fund also could change its criteria, or have a phased entry for the Renminbi after it meets the standards, as some officials have suggested.”
Since the time of the quote above, the Renminbi has been included in the Special Drawing Rights of the IMF. There’s even a bill that includes special recognition of China’s currency and it’s role in the future global economy.
Below, you will see a link to the dollar act legislative bill currently in the introduction phase. It states inside the introduction that digital dollar has to be formed this year. This means that the Stablecoin for the United States dollar is and will find its regulations completed for trade inside the new QFS.
Currently, the WTO is in process of currency reforms this year. They are adjusting percentage prices among several countries’ goods and services to make trade among nations a “More Level Playing Field.” These changes will have corresponding exchange rate adjustments through a re-indexing process.
Meanwhile, China’s currency in trade is increasing in volume and part of the WTO’s evaluation for the revaluation of the Eastern half of our World’s currency values.
Role of the Renminbi:
“An SDR allocation is a way of supplementing Fund member countries’ foreign exchange reserves, allowing members to reduce their reliance on more expensive domestic or external debt for building reserves.”
© Goldilocks
PBC Gov
Congress Gov
Nasdaq
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Old traditional money is transitioning into digital gold money. Today and tomorrow are significant days in this transition process.
The reliance on old money to support the banking system is going away today as institutional money continues to pour into the new digital economy.
Tomorrow, price pressures will begin to form on new money (tokenized assets). This will no doubt begin a cascade of events.
This allows institutional money to begin increasing money velocity inside the new digital ecosystem. When Stablecoins are regulated. You will see retail money begin to flow into the markets. Brookings Edu
© Goldilocks
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“The Federal Reserve Board announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions.” 17 hours ago
We talked about this around 2 years ago. Look for banking consolidations to take place. Those capable of meeting Capital 3 requirements will move forward.
Here is where the rubber meets the road. The integration of a Digital Gold Banking System will begin taking its first steps into the Global arena tomorrow. Financial Express
© Goldilocks
👆 As the article States, look for this to be a gradual integration for some banks.
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Hong Kong CPPCC members advocate for cross border e-commerce development – Daily Times
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CAIRO — Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a staggering shortage of foreign currency and soaring inflation. The flotation of the Egyptian pound, combined with a sharp raise of the main interest rate, is meant to combat inflationary waves and attract foreign investment.
Egypt floating currency, agreeing with International Monetary Fund to increase bailout loan – Washington Times
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CBDC incoming… | Twitter
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FEDNOW and Ripple Partnership:
This announcement marked the official integration of Ripple technology and XRP within the FedNow payment system, signaling a significant development in the use of blockchain technology and digital assets in the global financial system. Supra
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CBDC vs. Cryptocurrency: Competition or Collaboration Towards the Future of Digital Finance? – Modern Diplomacy
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Silver Prices Forecast: Will Gold Strength, CPI Data Drive XAG/USD’s Direction Next Week? | FX mpire
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Drivers of Dollar Share in Foreign Exchange Reserves – FEDERAL RESERVE BANK of NEW YORK
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Iraqi PM Al-Sudani announces 6% growth in Non-Oil GDP – Shafaq News
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BlackRock To Buy Bitcoin ETFs For Global Allocation Fund | Bitcoinist
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Larry Fink bets Bitcoin ETFs are just the beginning as Wall Street eyes $10tn tokenisation play – DL News
