Goldilocks’ Comments and Global Economic News Wednesday 3-13-2024
Good Evening
Our Consumer Price Index (CPI) came in higher yesterday than expected. This does not increase our chances of lowering interest rates early this year. The price on goods and services are still high and interest rates along with them made it even higher.
If this persists, it could lead to deflation. A slowing economy is not good for the markets, consumers, or companies.
During deflation, consumers tend to buy gold as well as investors to protect them from a slowing economy and the debasement of their country’s currency.
Cryptocurrencies that have a limited number of supply tend to do well along with a backing of gold to support them.
We are heading into a strong headwind economically, our tokenized assets “digital gold” will become the bridge into the new economy.
The demand for cryptos supported by gold will provide the new liquidity into the new Digital Financial System offering us the opportunity to reverse our current Financial forecast as we transition into the new digital asset-based trading system. BIS
© Goldilocks
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“Stablecoin sandbox launches in Hong Kong, as companies make plans for cryptocurrencies pegged to local currency”
© Goldilocks
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“The Hong Kong Monetary Authority launched a plan to trial stablecoins, announced in December, for companies with a ‘genuine interest’ in fiat-backed crypto.”
Trial periods can last anywhere from 30 to 60 days. This marks an important event for the world to see if Stablecoins backed by gold and other commodities have the potential to move our economy into a gold standard based on digital assets and new banking protocols designed for a digital economy guided by artificial intelligence.
If this is successful, we will begin to see many Stablecoins enter into the Global Market. It will begin to create price pressures on our paper currency.
We will first see a stabilization of currency prices reverse current trends, and move or monetary system into real values. It is a strong headwind ahead of us, but the work put into this new digital global economy is about to be tested inside the real world. Reversals don’t happen overnight. Patience and endurance are definitely needed at this time.
India’s Unified Ledger is expected to be a part of this trial along with the Shanghai Exchange. The Chinese Rememidi will serve as a part of this testing.
The HKMA will use this sandbox testing to share ideas on supervisory expectations. It will serve as guidance on the issuance of fiat-referenced Stablecoins in Hong Kong.
As you can see, the Eastern half of our world is beginning to make its move into the new QFS. By the time this testing is complete, Global cryptocurrency regulations are expected to be finished by Europe through MICA. SCMP SCMP 2
We are in the calm before the storm.
© Goldilocks
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In 2019, China began piloting its central bank digital currency, known as the e-CNY. After a slow start, uptake has accelerated rapidly, with 26 cities serving as test beds and 5.6 million merchants registered to use the currency nationwide as of last year. Its implementation has gone into overdrive in 2023.Oct 10, 2023 SCMP
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The Hong Kong Monetary Authority (HKMA) announced today (12 March) the launch of the stablecoin issuer sandbox arrangement. | HKMA 18 hours ago
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RBI in discussions with US, Hong Kong, Swift on digital bank payments | Finance News – Business Standard
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The Digital Rupee (e₹) or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC).| Wikipedia
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FDIC official urges better digital asset policy to maintain US influence | CoinTelegraph
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“From March 11 to 15, securities companies will conduct a trial of order placement and trading activities to guarantee seamless operation, simulating a normal trading day.”
Vietnam’s version of the QFS (Ho Chi Minh Stock Exchange) is currently on a trial run heading towards implementation. Yesterday, we saw where many of the United States companies were doing Global testing as well.
The QFS is currently in experimentation, and the knowledge we gain from these testing periods will provide insight for us to move forward.
© Goldilocks
https://vietnamnews.vn/economy/1651309/hose-starts-trial-run-of-new-krx-technology-system-on-march-4.html
Vietnam News
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US Spot Bitcoin ETFs Coming to India From Crypto Investment Platform: Report | CryptoPotato
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UE: new regulation for sanctions, focus on cryptocurrencies | Cryptonomist
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Beneath the Skin of CPI Inflation, February: Inflation Saga far from Over, Core CPI & Core Services in Ominous 6-Month Trend | Wolf Street
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