Goldilocks’ Comments and Global Economic News Monday 3-25-2024
Good Afternoon
We have several countries becoming Basel 3 compliant this year along with building their foreign exchange reserves. This is why we are witnessing numerous currency reforms taking place in so many countries at this time. The IMF has been meeting with many of these countries the past few years to prepare them for this moment. Investopedia 1 Investopedia 2
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I have an important phone contact to make in about 3 minutes dealing with gold. I will report on it when I get back.
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Interbank Lending Services is over between Banks as of March 11th, 2024. This has led to more price pressure on Gold especially as we have countries beginning to decrease their rates all around the US. Here, is where Basel 3 compliance brings in new support and new liquidity mechanisms.
The US has currently decided to hold their rates until the next FOMC meeting. This holds price pressures on the dollar to remain strong. It is, also, why we talked about Gold and the US Dollar rising together in the end game.
And now, we have China taking the lead on putting even more price pressures on Gold to rise even further. It is believed that China “now” controls the price of gold at this time. Inadvertently, the challenge to the US Dollar World Reserve Asset is beginning to come into play.
The transition into gold will change everything. It is “an idea whose time has come.”
We are looking at minimal pressure at this point on the US dollar as the World Reserve Asset, but this story is just beginning. Kitco Bitcoin FX Street
All roads lead to gold, and gold will set us free.
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Gold and the US Dollar. The currency war has just begun between the East and the West. Volatility with the US Dollar and Gold is to be expected.
The numbers presently in the future’s Market will be changing rapidly depending on who is winning the war.
Behind every war, a currency battle is usually at the heart of them all. MENA FN
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IMPORTANT NEWS IRAQ PM TO VISIT WASHINGTON DC April 15th | Youtube
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Tunisia: New foreign exchange law will have positive impact on Tunisia’s relations with donors | Zawya
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World Bank to share more data to attract private investors to developing countries | Devdiscourse
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We currently have a heavily weighted Retail Market. When Retail Investors begin to sell their stocks, watch what happens on the markets.
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“Pressure Mounts for the Japanese Yen as US Dollar Shows Continued Strength”
Japanese yen faces pressure as USD/JPY approaches historic highs, intervention speculation rises
Investing
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“The Japanese rules on liquidity inflows are compliant with the Basel III standards.”Basel Committee on Banking Supervision | BIS PDF
Yes, the Japanese yen is capable of currency intervention, but we will have to see what they do.
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Russian Digital Assets Announcement:
This week Vladimir Putin signed a law that allows the use of digital financial assets (DFAs) for foreign trade payments. Russia’s concept of DFAs includes tokenized assets and financial instruments issued through central bank-regulated institutions.
When DFAs were first introduced, tokenizing precious metals proved popular. So far digital platforms have supported the issuance of more than 350 instruments (https://www.ledgerinsights.com/russian-rating-agency-acra-sees-banks-dominating-rwa-tokenized-assets/), including bonds, trade finance, and a variety of other offerings. Ledger Insights
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BRICS countries will see the highest surge in millionaires globally over the next decade | MSN
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Sri Lanka is building their foreign exchange reserves announcement:
A combination of less festive/New Year demand for imports, lack of disposable incomes and increasing remittances along with enhanced foreign exchange flows from tourism has restored the Sri Lanka rupee to favourable proportions against the dollar. | Sunday Times
Sri Lanka adopted Basel III capital standards in 2017 and capital requirements for Sri Lankan banks have increased. | Trade
The review, once approved by the IMF’s board, will release $337 million in funding for the island nation. Sri Lanka defaulted on its overseas debt in May 2022 after a severe shortage of foreign exchange reserves triggered the worst financial crisis since independence from Britain in 1948. 4 days ago — Reuters
IMF praises Sri Lanka’s economic reforms | Sunday Observer
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Planning applications you may have missed this week | The Northern Echo
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HANOI (Bernama-Xinhua): The sustainable bond market in East Asian countries expanded 29.3 percent in 2023, outpacing the 21 percent growth of the global and euro-area sustainable bond markets, according to an Asian Development Bank (ADB) report released to the media.
The latest edition of the Asia Bond Monitor said that sustainable bonds in the Association of South-East Asian Nations (ASEAN) members, China, Japan, and South Korea, collectively as ASEAN+3, reached US$798.7 billion by the end of 2023, accounting for around 20 percent of global sustainable bonds.
By the end of 2023, the global sustainable bond markets had reached US$4 trillion, bringing environmental and social benefits to the countries through sustainable bonds financed projects and programs.
ASEAN sustainable bond issuance made up a higher share of local currency financing and long-term financing in 2023, driven by public sector participation, ADB Chief Economist Albert Park said.
The report also said financial conditions in emerging East Asia improved marginally between Dec. 1 and Feb. 29, as the US Federal Reserve was expected to ease its monetary stance. Inflation continued to moderate, and most economies posted sound economic growth in the region. – Bernama-Xinhua The Star
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Don’t be surprised if the XRP Ledger doesn’t replace the Petro Dollar Agreement.
Watch the water. 😉
© Goldilocks
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Things can change very quickly in the markets. Open interest contracts or climbing.
© Goldilocks
