Goldilocks’ Comments and Global Economic News Tuesday 4-30-2024
Good Evening
Department at the Central Bank of Iraq and the Association of Private Banks organized the activities of the Arab Financial Inclusion Week at Al-Muthanna University – College of Management and Economics, in cooperation with the International Labor Organization.
The events included a seminar to introduce financial inclusion, a lecture on electronic payment and digital inclusion, as well as various lectures on financial stability, financial education, and the green economy project, in addition to concessional financing services for young entrepreneurs and businessmen.
It is noteworthy that these activities come within the Financial Inclusion Week, which began on April 27 and continues until May 2, with the aim of enhancing financial awareness and promoting financial inclusion in Iraqi society. https://cbi.iq/news/view/2560 Central Bank of Iraq Information Office 30 – April – 2024
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Emerging Markets Banking Announcement:
Burke joins MarketAxess as Global head of Emerging Markets
29 April 2024
Dan Burke will be responsible for the development and execution of business strategy for the EM business in both hard currency and local markets.
MarketAxess Holdings Inc. (MarketAxess) is an international financial technology company that operates an electronic trading platform for the institutional credit markets,[2] and also provides market data and post-trade services.[3] It enables institutional investors and broker-dealers to trade credit instruments, including corporate bonds, and other types of fixed income products.[4] Asset Servicing Times Market Axess Wikipedia
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Crypto ETF Announcement:
Hong Kong begins trading ETFs tomorrow.
Bitcoin ETF and Ethereum ETF
They expect to have better trading volumes than the US on the first day.
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“FIATA International Federation of Freight Forwarders Associations announces the release of the Key Trade Documents and Data Elements (KTDDE) report, by the International Chamber of Commerce Digital Standards Initiative (ICC DSI), to which FIATA was a key contributor.”
Freight Forwarders are intermediaries between companies who make products and the final destination for those goods. Freight Forwarders direct various transport options such as sea/ocean freight, rail freight, road transport, and air freight shipment.
We learned yesterday that the digital standardization of what we are talking about in this brief article has been completed. Today we learn, there are 36 key trade documents that are needed to be standardized inside the international trade ecosystem.
This includes the cross-border paperless trade tool kit. It is a tool kit providing information for the World Trade Organization and the United Nations Commission on International Trade Law.
This gives the World Trade Organization who is currently deciding weighted percentages on trade values for the Global Nation. This information will go a long way in determining exchange rates for countries around the world.
Digitizing and Standardizing the new Global Trading mechanisms for the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) will go a long way in leveling the playing field for Global trade. AJOT DVS Tax – Thomson Reuters
WATCH THE WATER.
© Goldilocks
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“As China’s big banks pull back from financing Russia-related transactions, some Chinese companies are turning to small banks on the border and underground financing channels such as money brokers – even banned cryptocurrency – the sources told Reuters.”
In order to keep some of China’s very profitable institutions afloat. China and Russia are going underground with Brokers and small banks near the border utilizing digital payments as their source.
Crypto payment exchange is part of this new shift in trade with Russia and China because of the sanctions that are being placed on Russia by the US.
This is only driving the push toward a new digital economy forward at a rapid pace. These new avenues of payment sources are giving more reasons for China and Russia to de-dollarize their financial system and move toward a Level Playing Field in trade with each other. TBS News
© Goldilocks
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Mass adoption for the XRP Ledger has begun in Japan. This move will give Japan much more breathing room for the Yen.
XRP will provide a liquidity source that can replace the dollar in currency exchange for that country going forward and others who trade with them using the new digital asset-based trading system.
A move like this will give them less reliance on Swift and more reliance on The XRP Ledger and XRP Stablecoin to move their money digitally.
Now, we can expect the dedollarization process to speed up in Japan as they begin the process of selling their dollars for gold. Coin Telegraph
© Goldilocks
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LONDON (Reuters) – “Regulators must equip themselves with tools such as “bail-in” bonds to deal quickly with a failed clearing house for stocks, bonds or derivatives without having to call on taxpayers for cash, the G20’s risk watchdog said on Thursday.”
We have never seen this in our lifetime. The danger of Clearing Houses, those who move our money, failing to do so because of a lack of money on both sides of a trade.
And, we are being told that it will not be taxpayers that make up the difference in these losses, even though, inflation is a form of tax that has been confiscated from people around the world to probably make up the difference in these losses. 😉
Ripple and Ripple Ledger is beginning to be activated in some major countries at this time that will move some of these Clearing House transactions to The XRP Ledger.
This is why we will see challenges in the movement of money for a period of time as Clearing Houses transition some of the movement of money into Wire (Digital) Houses going forward. Finance Yahoo Investopedia
© Goldilocks
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Electronic Transfer Vs Wire Transfer: How They Work | Stax Payments
We are transitioning from the movement of money through wirehouses to electronic transmissions of money.
This is where the new digital economy will be taking over the traditional ways of moving money.
Electronic movement of money is far more efficient and faster than traditional modalities.
Part of the transition into this new transmission of money will create some backup logs in the old system.
My understanding is the QFS has been running side by side with the old system to coordinate and catch the inevitable snags that may come our way.
© Goldilocks
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French Hill, a prominent Republican member of the US Financial Services Commission, has expressed his willingness to support combined legislation linking cannabis banking to stablecoin regulation, pending negotiations. | Cryptodnes
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New Research from Material and NewtonX Reveals Shifts in Digital Ad Spending and Social Media Strategies
New insights show how advertisers and agencies are succeeding and spending in an era of advertising targeting, social media and AI BusinessWire
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Dollar Dominance: America’s Power Pivot | Youtube
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Russia gives mixed signals about common BRICS digital currency – Ledger Insights – blockchain for enterprise
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Bank of Japan launches CBDC API Sandbox, publishes digital yen report – Ledger Insights – blockchain for enterprise
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URGENT & BREAKING NEWS Iraq Vietnam How to Buy ZiG Zimbabwe | Youtube
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Distributed Ledger Technology (DLT) Explained | Youtube
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Ripple and Hashkey DX Partner to Boost Blockchain Supply Chain Solutions in Japan – News Bytes Bitcoin News
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Uphold Fees & Limits | Uphold Help Center
Hi yeah I know it is sad ,
We wanted to let you know that we’ve increased the deposit and withdrawal limits that apply to your Uphold Wallet.
Don’t worry, there’s nothing for you to do. Please see the changes below:
Deposits (Daily and monthly limits have been removed)
ACH Micro-deposits:
Weekly deposit limit: $2,000
Limit per deposit: Increased from $500 to $2,000
ACH Plaid:
Weekly deposit limit: $10,000
Limit per deposit: Increased from $500 to $10,000
Cards/APMs:
Maximum limit per deposit: $15,000
Weekly limit: $15,000
Withdrawals (Monthly limits have been removed)
ACH Plaid & ACH Micro-deposits
Daily withdrawal limit: Increased from $10,000 to $25,000
Debit Cards:
Weekly withdrawal limit: $5,000
For more details, please refer to our FAQs.
Thank you, Team Uphold
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👆Something has changed…
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Why Do Banks Have Limits and Holds? – Grasshopper
These regulations not only help to keep the bank financially safe but protect you as well. For example, if you were to experience fraud, withdrawal limits are in place to prevent hackers from being able to remove all the funds from your account.
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This is just a speculation and don’t hold me to it, but I suspect new regulation security measures have just been placed on the QFS to allow such freedoms.
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Stellar Development Foundation Quarterly Review: Q1 2024 | Youtube
