Zig’s Place Chatroom News Sunday Afternoon 3-19-23
Butterfly The Central Bank imposes the electronic platform on all banks and exchange companies (document)
Economy 2023-02-19 | 13:29 Today, Sunday, the Central Bank imposed the electronic platform on all banks and exchange companies, starting tomorrow.
The bank said, according to a document addressed to all licensed banks, all exchange companies, and all licensed foreign currency mediation companies, which Alsumaria News reviewed, that “it was necessary to adopt the electronic platform for the cash sale of foreign currency, as of Monday, corresponding to 2/20/2023.”
He added, “The bank or company that does not use the aforementioned platform will be denied access to its weekly share of cash (dollars).”
Sheila POSTED SUNDAY, MARCH 19, 2023: Tomorrow is a very exciting day for all of us. We begin our journey into the digital asset-based trading ecosystem through ISO 20022.
The final phase of development in the QFS will be a determination made between stablecoins and digital tokens.
Stablecoins are backed by commodities with a fixed rate of a commodity value placed on them.
Digital Tokens are value derived by the amount of money held in a customer’s digital wallet.
The banking system believes that a more stable rate can be placed on digital tokens versus stablecoins.
Both tokens represent stability and security for the holder of them. The commodity system that backs both of these assets is held in the custody of financial institutions who mint them.
When all of the dust is settled on the coming transformation of our markets currently being tokenized, we will then be able to place tangible monetary values on the currency / digital currency sector of the market to support them.
Legislation on our monetary reforms will be formulating and becoming visible this month. As Congress votes on this final process and development of the QFS, we will get a clearer picture as to when and how our currency revaluations will take place around the world.
© Goldilocks https://www.blockworks.co/news/deposit-tokens-way-into-defi
Sheila POSTED SUNDAY, MARCH 19, 2023, 8:00AM — “On Monday, 20 March 2023, more than 11,000 institutions in over 200 countries and territories, their vendors and technology teams, and many domestic payments platforms will start their migration to ISO 20022 for payments and related messaging.”
This is one of the largest migrations ever taken by a financial institution in the history of our world.
It is a life-changing event that will affect every person around the world.
I want to personally thank each person who has followed me since early last year on this journey to learn about this new digital banking system, but our work is not over just yet.
Once we have this payment system in place that will unify various Payment Systems from all over the world, we can then formulate prices on the digital currency values and currency values going forward.
It is an exciting time for all of us. © Goldilocks https://auspaynet.com.au/insights/blog/ISO20022NewDawn
Sheila So in light of what Goldilocks is saying, it looks like it could be at least 10 maybe up to 30 days for full migration, implementation? Not to mention working out the error codes and patches needed to fully integrate with data and referential integrity?
Zig sheila : We gonna be rich soon?
Sheila Zig Soon… Ish — lol lol
Zig HOLDING:Breath: LOL
Sheila Zig With mirrored accounts in this new system, then currency revaluations could provide asset backed financial system which we have come to identify as QFS.
Sheila We shall wait and see how this week unfolds.
Dave been waiting over 750 weeks fer this to unfold…….whats another week
Sheila Zig I am quietly excited.
butterfly sheila keeping fingers crossed
Zig But seriously…..nothing much excites me in this any longer….but I will remain hopeful
butterfly What excites me is seeing how Iraq has evolved.
Dave Now have reliable power?
Dave IQD now 1550?
butterfly Like with a cult mind, it takes years to cleanse. Iraq is learning how to live in a sovereign country when living under a dictatorship for decades.
Sheila paradigm shift
Sheila ripple effect takes time
butterfly a big one sheila
Dave Cult minds……? Where be Ukraine……Asia?
Butterfly I hope the month Ramadan doesn’t hold up moving forward in Iraq.
Sheila Dave Only need one linchpin event or shotgun start. Iraq has consistently been touted as the leader of the pack for revaluations/currency reset.
Sheila Dave Ukraine ,,, Asia are political hot spots. Iraq is financial hot spot.
Dave Iraq has the most with the least
Zig Dave : Untapped Potential
Dave Tapped with corruption
butterfly Dave every country has corruption
Zig Who let this negative guy in here??….lol
butterfly We are facing a lot of corruption right now
butterfly Zig with negativity you throw positivity
Dave call it hopium?
Dave Iraq listed as one of the most corrupt nations in the world
Sheila Dave Yes, corruption is one aspect of their transition. We are seeing it because of the financial shifts.
butterfly I say we are seeing this because we are invested in their currency. If we weren’t, we would have no clue, or no interest in Iraq.
Sheila Dave Believe more good than bad at this point. my opinion only.
Dave sheila Agree
Sheila butterfly shine on
butterfly sheila I agree. We must look at positivity
Dave Manifest destiny….
butterfly antiquities thousand of years old are being discovered. I know that means nothing to most, but it truly does interest me.
`Sah nytimes.com The New York Times BREAKING NEWS Silicon Valley Bank was under scrutiny by the Fed for over a year for risky practices and the bank received repeated warnings. It wasn’t enough.
Sunday, March 19, 2023 12:08 PM ET The bank was using an incorrect model as it assessed its own risks amid rising interest rates, and spent much of 2022 under a supervisory review.
Sah I am so glad the other banks chipped in to save this bank. Etsy banks with this bank. Thousands of people that craft and sell their wares on Etsy would of been affected as Etsy collects the money and takes their commission and then banks the money digitally to the vendors bank account. I am sure they run in the millions that they pay out a week. It would of effected a lot of small businesses and would of been a disaster. Large payrolls were kept at that bank to pay employees. It would of trickled down everywhere.
Dave Lemming effects……..? Folks scared pulling monies not a contributing factor?
Sah Dave Large stock holders pulled out billions days before crash. CEO’s took out a portion of their holdings days before.
Dave that sounds dicey
Sah Millions of dollars in payroll a week is paid out of that bank.
Dave Mmbership has priviledges i suppose
Sah Ten thousands of people here in California would of not got their paycheck.
Sah Dave Membership has nothing to do with it. How about insider trading? Now that would be a better question.
Dave Sah again being sarcastic…….
Sah Dave Leave your sarcasm at the door. I do not abide by it and it makes you look stupid.
Sah It rubs me the wrong way.
Dave Ouch…Some may now believe that Ukraine not part of Europe as stated by MTG……Think I support that also.?….Many suggest she be brilliant!
Dave Suggesting if i was a major shareholder/executive of SVB i may have pulled my cash out before it crashed…….. Though very honorable go down with a sinking ship
Sah sheila Bank of America, Wells Fargo, JP Morgan and Chase were the banks that bailed out SVB.
Sheila Sah ripple effect – minnows to the whales
Sah There might have been a couple more but they are back on track making million dolar payrolls there and Ets which is all in the millions so they were completely covered.y is running there funds thru to pay their sellers. They were completely covered for all their funds.
Sah They popped for 100 percent solvent with their company accounts, now as to their bonds up side down they got a loan from these banks to straighten it out.
Sah The Feds need to stop raising interest rates that make these bonds upside down that the Bank bought when there was low interest rates.
Sah Moral of story for us middle class is not to hold more than $250,000 at one bank and diversify and move the rest to other banks not affiliated. You are insured for that amount by the Federal government. Credit Unions are iffy depending and need to be asked what is insured and what is not.
Sah WATCH: Chinese President Plans To Visit “Best Friend” Putin Next Week In Russia
Written By BlabberBuzz | Sunday, 19 March 2023 Things between the United States and Russia were already tense, but relations have reached a new low after Russia was accused of downing an American drone in the Black Sea. Chinese President Xi Jinping is scheduled to visit his best friend, Vladimir Putin, to show the world his support for Russia.
According to NY Post, “Both China and Russia have confirmed the planned visit, with the Kremlin saying that Xi will be staying in Moscow from Monday to Wednesday at Putin’s ‘invitation.’”
The trip to Moscow will be President Xi Jinping’s first visit outside the country since his third term began. It will also be one of his first meetings with Putin since the situation in Ukraine began. Putin and Jinping became intense allies weeks before troops headed across Ukraine’s borders.
They said they have a partnership that does not have limits, signaling that China will continue to stick by Russia. This has been wonderful for Russia, which has been isolated or sanctioned by large parts of the world since invading Ukraine. Meanwhile, the friendship between the two countries has the United States and Europe concerned.
The United States has constantly cautioned China against sending weapons to Russia, which President Jinping vehemently denies ever doing. However, he does take the time to condemn Western countries for sending billions worth of weapons to Ukraine.
The round of weapons sent to Ukraine will soon include fighter jets. Instead, the Kremlin says this visit builds trust between the two countries, strengthening their partnership. A schedule showed that the two would start the planned trip with a one-on-one meeting and an informal lunch. Per NY Post,
Sah “‘During the talks, topical issues of further development of comprehensive partnership relations and strategic cooperation between Russia and China will be discussed,’ said Kremlin spokesman Dmitry Peskov.” Peskov also stated that the two would exchange views and sign documents but did not provide specific details. Recently, China expressed concern over war escalating due to Russia taking down an American drone.
While Americans keep a close eye on this newfound friendship, we should remember that China calls for peace in Ukraine. Last month, China published a plan to end the Ukraine situation. China has also encouraged negotiations between the two countries, so President Xi Jinping can help stop the situation in Ukraine. WATCH: Chinese President Plans To Visit ‘Best Friend’ Putin Next Week In Russia
Sheila Top 10 Approved ISO 20022
Sheila We shall wait and see what Monday brings in banking and financial systems all around the world.
Sheila “This is how the #ISO20022 migration in Europe (#TARGET2) will proceed this weekend and next Monday: 1) Tomorrow and Sunday, the banks will ‘move’ their positions into the ECB’s new system and check the correct booking. 2) On Monday morning, things will get exciting.”
“Then, the first live transactions will be carried out. Throughout the day, checks are made to ensure that all payments with the correct information reach the correct recipients. Only in the course of Monday will it be possible to determine whether the migration has run without errors.”
© Payment Infrastructure News
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