Goldilocks’ Comments and Global Economic Tuesday Evening 4-9-24
Good Evening
“Credit valuation adjustment is a change to the market value of derivative instruments to account for counterparty credit risk. It represents the discount to the standard derivative value that a buyer would offer after taking into account the possibility of a counterparty’s default.”
With so many companies and countries going into bankruptcy these days, I have to look at credit valuation adjustments in order to make some of my trades.
Foreign currency is a part of the Derivatives Market. I will know when these actual changes take place. Risk
© Goldilocks
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“This bank, on behalf of the Ministry of Finance, will offer bonds under the name ( Injaz Bonds ) to the public starting from 4/15/2024 until 5 / 15 / 2024”
Public bonds help to build the infrastructure of a country’s businesses, and they go a long way in supporting a country’s currency.
Getting public involvement in increasing the value of their own currency will help Iraq maintain a sustainable economy going forward.
Public bonds like these help to establish and secure a country’s Sovereignty. This is a part of the process of Iraq reclassifying their currency.
Not long ago the CBI revealed to us that it would begin March 31st, 2024. They said it would be a gradual change. I copied the article for your review again on this matter.
“Based on the of the Board of Directors of this Bank number (191) of 2003 it was decided to give the mediation companies buying and selling foreign currencies under category (C) a period of time to merge to be classified as (A) or (b) until 3-31-24.” CBI IMF
© Goldilocks
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“The HKMA has been researching CBDCs since 2017 to understand their benefits and potential applications. As part of the “Fintech 2025” strategy announced in 2021, the HKMA has placed increased emphasis on strengthening its research work to increase Hong Kong’s readiness in issuing CBDCs at both wholesale and retail levels.”
Hong Kong is currently exploring industry standards for their digital money. They are currently on Phase 2 of HKMA’s e-HKD testing initiative.
Currently, Hong Kong is in process of developing standards on their ability to exchange information through smart contract designs. A smart contract ensures money is available on both sides of a trade.
These new mechanisms and protocols include sensitive and private information that needs to be protected on the retail side of a transaction. HKMA
© Goldilocks
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“Bitcoin halving countdown: Crypto expert discusses opportunities and challenges” | Investing
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Ripple CEO: Crypto market to double in size to $5 trillion in 2024 | CNBC
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Bitcoin and Ripple. Pairing the assets together. What? Not going to zero now. MacroAxis AvaTrade
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China is about to enable currency swap with 29 other countries and they will use their local currency instead of the US dollar. | Reuters
👆 Goldilocks pointed to this article
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[I uploaded the following pds attached to this email – If they are easily uploaded – please add otherwise just leave them off. I added the link to the room if they want to see them. Please delete this message]
Goldilocks posted 5 pdfs in their telegram room today:
1. Final_Report_on_certain_technical_standards_under_MiCA_First_Package
https://t.me/c/1545617426/76381
👆MICA DRAFT REPORT
2. MiCA_Consultation_Paper_-_RTS_market_abuse_and_GLs_on_investor_protection_and_operational_resilience
https://t.me/c/1545617426/76383
👆MICA CONSULTATION PAPER
3. openFile.pdf
https://t.me/c/1545617426/76385
👆In line with the Group of 20 (G20) commitment to reform over-the-counter (OTC) derivatives markets, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have been working with the Government of the Hong Kong Special Administrative Region and relevant stakeholders on implementing a regulatory regime for the OTC derivatives market in Hong Kong. OTC derivatives reporting is an important component of the OTC derivatives regulatory regime.
We have implemented two phases of mandatory reporting, covering OTC derivatives
transactions in five key asset classes — interest rates, foreign exchange, credit, commodities and equities. The use of Legal Entity Identifier (LEI) has also been mandated and is applicable to all entities on the reporting entity’s side of a transaction.
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4. 20240322e3a1.pdf
https://t.me/c/1545617426/76389
👆Hong Kong is currently working on their reporting measures for their over-the-counter derivatives (OTC) Market that includes foreign currency exchanges.
© Goldilocks
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5. ESMA74-2119945925-1959_Feedback_statement_of_the_Call_for_evidence_on_shortening_the_settlement_cycle.pdf https://t.me/c/1545617426/76390
👆EU shortening the settlement cycle.
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👆The above PDFs give you an idea of how Global Regulatory guidelines are in process of being reviewed and working towards implementation by the end of May.
These drafts will be reviewed and updated for new Protocols in the Banking and Market system.
© Goldilocks
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Treasury Secretary Janet Yellen wrapped up four-day trip to Beijing without much to show for it, acknowledging an unsure future for relations between the U.S. and China.
After a series of economic meetings, it was at least agreed that more communication would take place.
“There is much more work to do,” Ms. Yellen said at a Monday news conference. “And it remains unclear what this relationship will endure in the months and years ahead.” Fox Business
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UK’s FCA and Bank of England launch consultation for Digital Securities Sandbox – FinTech Futures: Fintech news Bank of England
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What Jamie Dimon Said about Long-Term Inflation, Fed Interest Rates (“2% to 8% or even more”), and QE/QT (it’s Risky) | Wolf Street
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TSMC to make state-of-the-art chips in US after multibillion subsidy pledge | Technology sector | The Guardian
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Gold is rapidly becoming the World Reserve Asset.
© Goldilocks
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Gold. Tradable foreign currencies, such as the USD or euro (EUR). Special drawing rights (SDRs) to obtain foreign exchange or reserve assets from IMF members. Jan 8, 2024 | Investopdia
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XRP: The best 21 minutes of your life is contained inside this video…
It just came out today. Something many of us have known for a long time.
It will change your life. | Youtube
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Lummis: Crypto Will Erupt as Big Issue in U.S. Senate Races Including Banking Chair Brown’s | CoinDesk
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Stablecoins Are Seeing Adoption as a Cross-Border Settlement Mechanism: Bernstein | CoinDesk via @coindesk
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Gold rallies to new records on worldwide tensions, central bank buying | Axios
