Goldilocks’ Comments and Global Economic News Thursday 4-4-2024
Good Evening
“On April 1, ISDA submitted comments on the Commodity Futures Trading Commission’s (CFTC) notice of proposed rulemaking on requirements to establish an Operational Resilience Framework for Futures Commission Merchants, Swap Dealers and Major Swap Participants, which was published in the Federal Register on January 24, 2024.”
The International Swaps and Derivatives Association examines risks and resilience inside the derivatives Market. There were three stages to go through when being considered for implementation in government protocols. The ISDA is now on their final stage/phase.
All comments and questions have been turned into the CFTC who will govern and process swap dealers going forward. At this time, all of the information gathered in research and comment phases are now going to be put before the Operational Resilience Framework.
The ORF will take their collected data, organize it, and bring it before the Market Risk Advisory Committee Meeting on April 9, 2024.
If passed by the CFTC, they will be able to move forward with new guidelines governing and directing our new digital economy inside the digital derivative markets that includes foreign currency exchanges. ISDA CFTC
© Goldilocks
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“Project Agorá (Greek for “marketplace”) brings together seven central banks: Bank of France (representing the Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England and the Federal Reserve Bank of New York.”
Project Agorá is currently working with Central Banks and Banking sectors to test and explore the use of tokenization in cross-border payments. This will be done in partnership with a large group of private investors inside The Institute of International Finance.
The IIF is comprised of commercial and investment Banks, asset managers, insurance companies, professional services firms, EXCHANGES, sovereign wealth funds, hedge funds, Central Banks, and Development Banks.
This pretty much covers most of the international payment sources from around the world. There are three major requirements that will be explored in cross-border payments:
“Project Agorá will explore how tokenisation of wholesale central bank money and commercial bank deposits on programmable platforms can improve the monetary system.
The project will explore how tokenisation and smart contracts could enable functionalities and transactions that are not viable today.
The primary area of exploration will be to increase the speed and integrity of international payments while lowering costs.”
As you can see, we have a lot of conversations taking place around cross-border payments which include foreign currency exchanges that are still in development.
As we proceed further into the global regulation of crypto assets and markets, these major Financial Institutions from around the world will be exploring and placing their input into the final regulations taking place at the end of May in Europe.
If this date is not moved back, we will be looking at moving forward on an International level with our new digital economy. BIS 1 BIS 2 IIF
© Goldilocks
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A RESURFACED speech from Chinese President Xi Jinping suggests policymakers may start trading government bonds to regulate liquidity in the market, pushing the nation towards strategies used by the US Federal Reserve and other major central banks around the world.
Xi’s call for the People’s Bank of China (PBOC) to “gradually increase the buying and selling of government bonds” in its open market operations sparked a frenzy of speculation among traders last week. The remarks – made in October but publicised recently in a new book and newspaper article – may hint at a policy pivot for a central bank that has not made a significant bond purchase since 2007.
“Central banks in other countries generally use government bonds, or sovereign credit, as a basis to issue money,” said Liu Lei, a researcher at the National Institution for Finance and Development, a state think tank advising government agencies in China. “This is a necessary path for China’s central bank and monetary system to move into modern times.” Business Times
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China is beginning to signal a policy change in the buying and selling of government bonds. They are beginning to indicate the desire to sell their bonds to prop up their currency which is a tactic the US currently utilizes.
Japan is also considering this tactic, and other countries will witness the benefits of these changes.
One thing is for certain, it will change the dynamics of trade between countries going forward. This move will indicate a global shift in the way many countries will begin utilizing the same measures that the US does in trade and banking within their own countries.
When we see this trend begin to take place, it will begin putting price pressures on exchange rates going forward and many will begin to move into real values. Investopedia Linkedin Business Times
© Goldilocks
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Great expectations: How treasury bonds and interest rate changes impact currencies | OFX (US)
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“This bank will issue bonds ( Enjaz ) on behalf of the Ministry of Finance.”
👆 Do you see what’s going on here? Someone is about to sell government bonds to prop up their currency. A pattern is forming among countries. CBI
© Goldilocks
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The East is beginning to move/control the price of gold over the dollar. Is gold about to decouple from the dollar?
And, Ripple is launching their own stablecoin as a bridge asset. Ripple is a liquidity coin that can bridge payments between two countries’ currencies.
Ripple is capable of moving the Central Bank Digital Coin/Gold from one country to the next.
Is Ripple the next World Reserve Asset backed by gold? In the new Financial System, “All roads lead to Digital Gold, and Digital Gold will set us free.” CNBC
© Goldilocks
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“All roads lead to Digital Gold, and Digital Gold will set us free.”
© Goldilocks
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IQD REER/NEER Exchange Rates at $1.00 USD | Youtube
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Where the U.S. Dollar May Be Headed in 2024 | Charles Schwab
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Apple Exploring ‘Mobile Robot’ That ‘Follows Users Around Their Homes’ – MacRumors
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Is The Silver Market Breaking Out? – InvestingHaven
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Blockchain firm Ripple said it’s launching a U.S. dollar stablecoin, marking an entry into the $150 billion stablecoin market. The move will pit Ripple against stablecoin giants Tether, which is behind the largest stablecoin UDST, and Circle, the issuer of USDC. 4 hours ago NBC Connecticut
👆 This is very important, and I am looking into it with some of my developer friends. It is a Historical Moment.
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Shanghai, China 🇨🇳 trading Gold at $2,368 and Silver at $29.29 an ounce | Twitter
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TABLES TURNED: Yellen Is Back To China As the US Feels Threatened by China’s Manufacturers | Youtube
