Goldilocks’ Global Economic News 5-21-2024
“The final elements for the implementation of Basel III in the EU are now agreed and will start applying on the 1st of January 2025.”
Currently, we have tokenized assets and stablecoins backed by gold and other commodities moving through legislation and expected to become law at the end of June 2024.
This is forcing governments around the world to begin making decisions to implement their new digital economy. These monetary policy shifts will create credit valuation adjustments across all sectors of the market including Forex.
Countries have began moving towards bilateral trade agreements utilizing their own currencies in trade. This move will increase the demand for their currencies, yet they still need a stable price on them.
This is where stablecoins come into play. Stablecoins are backed by commodities. This alone will support the need to raise the value of currencies around the world to level the playing field in trade.
For the last 4 years, trade has been disrupted and rerouted to increase the level of exports in countries around the world offering support for these new currency values that are about to come into play.
The IMF has been working with countries globally to give guidance and instruction on their countries’ ability to shift into a new supply and demand regimen. Work has been done to increase Capital Requirements through commodities and increasing exports.
These measures will support new values and justification for currency valuation adjustments because their credit in the ability of doing so will be met by the above requirements.
We have a deadline for these changes to take full effect by January 1st, 2025. As you can surmise, price pressures to move into a real value between now and then are about to begin.
Look for XRP and XLM to be the first movers in the new digital economy. Their supporting actors will be ISO 20022 digital coins. These ISO tokens will be networks that will move money from one sector of the market to another.
Our movement from wire transfers to instant transfers electronically and through a quantum computer will increase money velocity. This will increase demand and increase the value and support for currencies going to higher levels.
Just holding ISO tokens and utilizing them in the new economy, with gold backing each of them, will serve as the bridge to our next economy. Commodities will be the next long-term Bull Run.
Our first RV (digital) is about to interface with traditional market assets on the QFS. This will transform our banking system and markets (paper money) into the new digital asset based trading system – the second RV. Study Smarter The Print IT Supply Chain Investopedia Deloitte
© Goldilocks
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RESULTS of Iraq’s Emergency Budget Meeting | Youtube
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CBI Meeting with World Bank Vietnam in Trouble? Maybe | Youtube
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NEW: House Democratic leaders said today they will NOT whip against House Republicans’ crypto bill, I’m told.
The whip question sent to members this a.m. says that Waters and Scott “strongly oppose” the legislation, but does not urge them to vote “no”: politico.com/f/?id=0000018f… Twitter
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Folks, the new digital economy continues to move forward, and it is beginning to force decisions around the world on the government level.
Things have reached a critical state in the currency markets forcing the issue to move forward with credit valuation adjustments across all sectors of the market.
We now have a drivers for the market. It is digital, gold, and sailed across the Open Seas.
© Goldilocks
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FIT21 Gets House Vote, Will Crypto Stay a Partisan Issue | CCN
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H.R.4763 – 118th Congress (2023-2024): Financial Innovation and Technology for the 21st Century Act | Congress.gov | Library of Congress
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H.R. 5403, CBDC Anti-Surveillance State Act | Congressional Budget Office
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Saudi fintech barq and TerraPay forge strategic partnership | Arab News
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Santander, Iberpay introduce global instant transfers | The Paypers
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Highlighted here, the Ripple case and the ruling of #XRP was the main catalyst that started the push for real legislation to pass.
Without Ripple v SEC, this week would not have happened. Twitter
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Biden extends Iraq’s national emergency for more year | Search4Dinar
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Russia purchased arms manufactured by its BRICS counterpart India by paying $4 billion in local currencies and not the US dollar. The Indian-made arms and equipment were procured by Russia citing ‘defense purposes’. | CryptoRank
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BlackRock Exec Predicts Tidal Wave of Institutional Money Flooding Into Bitcoin ETFs — TradingView News
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World Economic Forum founder Klaus Schwab will leave executive post | Semafor
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Several States Take Steps To Block A Central Bank Digital Currency | ZeroHedge
👆 it’s going to be a fight
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JUST IN: Donald Trump’s presidential campaign officially accepts Bitcoin and crypto. | @Watcher Guru
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Silver’s Final Breakout Has Begun as World Trumps US Derivative Markets | Youtube
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“Ripple CLO Claims The SEC Has a NODE on the XRP Ledger”
A NODE offers ways to approve and process transactions without a centralized authority.
A node validates and authenticates blockchain transactions. A Blockchain node’s primary job is to confirm the legality of network transactions.
Once a confirmation is made between two digital networks through a blockchain consensus, a transaction is validated on both sides of an exchange.
A protocol brings all nodes of a distributed blockchain network into agreement on a single data set or similar data confirming the right to move forward inside a blockchain connection. Then, a digital transaction can go through for both parties.
This is done electronically and without the need of someone mediating the transaction on the QFS.
It looks like XRP and the SEC have decided to play ball together. Times Tabloid Trade Marks Ledger
© Goldilocks
