Goldilocks' Comments and Global Economic News for September 30!th
Goldilocks' Comments and Global Economic News for September 30!th
~~Good afternoon Dinar Recaps,
BRICS Reviewing Global Payments System to Bypass US Dollar and Circumvent SWIFT: Report - The Daily Hodl
The global economic alliance known as BRICS is reportedly considering the launch of a global payments system that could sidestep the banking industry standard SWIFT....
* The BRICS alliance is considering the launch of a global payments system that could bypass SWIFT.
* The finance ministers of the BRICS countries will discuss the feasibility of a unified payments network at the next BRICS meeting.
* The network aims to boost independent efforts to create payment messaging systems within the BRICS countries.
* BRICS recently added Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the UAE to the group.
* Russia sees the future potential of BRICS as a way to reduce ties with the West and strengthen ties with the Southeast.
The sentiment of the article is generally positive, as it highlights the potential benefits of a global payments system for the BRICS alliance and their efforts to reduce reliance on the banking industry standard SWIFT.
Minmax AI News Link
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Blockchain-based payment network Stellar has launched an open-source disbursement platform for global payments. Stellar Launches Open-Source Platform for Global Payments...
* Stellar has launched an open-source disbursement platform called SDP for global payments.
* SDP aims to make digital payments faster, cheaper, and more transparent.It enables instantaneous financial transfers and real-time monitoring of payment distribution.
* SDP can be used for mass payouts, periodic payments, and converting digital currency into cash.
* Stellar's partnership with MoneyGram may continue despite the introduction of SDP.
The overall sentiment of the article is positive. It highlights the benefits of Stellar's SDP, such as faster and cheaper payments, as well as the potential for global adoption. The mention of the partnership with MoneyGram also suggests a positive outlook for the collaboration.
Minmax AI Link
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How Blockchain is Disrupting Cross-Border Payments...
* Blockchain-based payment networks are disrupting cross-border payments by improving speed, cost, and transparency.
Ripple and its XRP-powered On-Demand Liquidity product are leaders in this space, enabling banks to provide better cross-border payment experiences.
* The traditional correspondent banking system is slow, complex, and expensive, with settlement times stretching days or weeks and lack of visibility into fees charged.
* Blockchain enables transparent transfer of value between parties, using digital tokens as bridging assets between fiat currencies.
* Ripple's On-Demand Liquidity service eliminates the need for pre-funding international accounts and connects hundreds of banks and payment providers worldwide.
* Other trends in blockchain payments include PayPal enabling crypto funding sources, Visa's settlement coin, stablecoins like USDC, and the development of central bank digital currencies (CBDCs).
The article highlights the positive impact of blockchain on cross-border payments, emphasizing the improvements in speed, cost, and transparency. It also praises Ripple and its On-Demand Liquidity product as leaders in this space. Overall, the sentiment is optimistic and supportive of blockchain disruption in the payment industry.
Minmax AI Link
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Bitso integrates Stellar's Anchor Network, bridging traditional banking and blockchain for faster, cost-effective cross-border transactions....
* Bitso, a leading cryptocurrency exchange in Latin America, has partnered with Stellar Development Foundation to enhance the global payment corridor between Latin America and the rest of the world.
* The collaboration leverages Stellar's Anchor Network, which bridges the gap between the Stellar network and traditional banking systems, enabling seamless interoperability of global currencies on a single platform.
*Bitso's integration with the Anchor Network allows businesses worldwide to transact in USD Coin ($USDC) in Argentina, Colombia, and Mexico, where Bitso has direct connections to local banking systems.
* This development is a response to the growing trend of cross-border payments for international commerce and remittances.
* Bitso has processed $3.3 billion worth of transactions between Mexico and the U.S. and reported a 32% increase in total international transfers during the second half of 2022.
* Jeremy Allaire, Co-Founder, Chairman, and CEO of FinTech firm Circle, recognizes the Stellar-powered USDC as a swift, cost-effective Layer 1 solution for digital dollar payments worldwide.
The overall sentiment of the article is positive. It highlights the partnership between Bitso and Stellar Development Foundation to enhance global payments, emphasizing the potential of blockchain technology and crypto assets to improve settlement times and reduce costs.
Minmax AI Link
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"Project Mariana tested the cross-border trading and settlement of wholesale CBDCs. Successful trading and settlement of hypothetical euros, Singapore dollars and Swiss francs. DeFi elements tested in the project, specifically automated market makers, could form the basis for a new generation of financial market infrastructures."
It is important to keep in mind that this is wholesale CBDCs.
It is the retail CBDCs that is having a difficult time being passed through Congress.
Unless there is a solution for the privacy issue in retail CBDC, the adoption of CBDC for the retail market has a long way to go.
© Goldilocks
https://www.bis.org/about/bisih/topics/cbdc/mariana.htm
Outlook India Link
"Registered by Commission order on January 22, 2016. SwapEx LLC applied for temporary registration as a SEF on July 30, 2013, in order to trade interest rate swaps for which the CME will act as a DCO as well as FX NDF products that are not presently listed for clearing by a DCO. At the request of SwapEx LLC, the Commodity Futures Trading Commission issued an order that vacates the registration of SwapEx as a swap execution facility (SEF) effective September 30."
Currently, we have 26 Swap Execution Facilities + 4 that are dormant and can be used for Forex currency trades.
As of today, SwapEx is now available to do FX trades.
© Goldilocks
SwapEx Link
SwapEx ORDER OF VACATION
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Several Swap Execution Facilities (SEF) opened today for foreign currency exchanges. See link below.
And, we are now seeing some rates show up on conversion sites regarding XRP and XLM. Thank you Maria G for that info. See the link below.
XAU is a symbol used under the ISO 4217 currency standard to represent one troy ounce of gold.
© Goldilocks
https://x.com/_crypto_barbie/status/1708052863404909017?s=46
https://www.cftc.gov/PressRoom/PressReleases/8797-23
👇👇👇👇👇
Seems like #XRP and #XLM future worth has already been confirmed! XAU = ounce of gold Would be an XRP price of $17,297 and an XLM price of $7,112!
https://twitter.com/_crypto_barbie/status/1708052863404909017?s=46
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Abstract:
In this paper, we outline tokenization, which is a new and rapidly growing financial innovation in crypto-asset markets, and we discuss potential benefits and financial stability implications. Tokenization refers to the process of constructing digital representations (crypto tokens) for non-crypto assets (reference assets). As we discuss below, tokenizations create interconnections between the digital asset ecosystem and the traditional financial system. At sufficient scale, tokenized assets could transmit volatility from crypto asset markets to the markets for the crypto token's reference assets.
Federal Reserve Link
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Vietnam: Technical Assistance Report
Summary: This technical assistance (TA) report presents the outcomes of the scoping mission of a new TA project aimed at building capacity in macroeconomic analysis and forecasting in the Ministry of Planning and Investment (MPI). The MPI is establishing a Core Working Group (CWG) under MPI’s coordination that will carry out macroeconomic analysis using Macroeconomic Projection Tool (MPT) and integrate the results in the policy-making process.
Based on the mission’s findings and assessment, the mission team and the authorities agreed on a three-year TA action plan that includes training components during the early stage of the project. During Phase 1 (2023-24), the activities would focus on developing and operating the Macro-Framework Foundation Tool (MFT) and the Public Debt Dynamics Tool (DDT) to produce macroeconomic analysis and forecasting.
Depending on progress, the MPT could be enhanced during Phase 2 (2025-26) and the tentative plan is to develop Comprehensive Adaptive Expectation Model (CAEM). The CWG will take the lead in implementing the activities and targets identified in the TA action plan and will be supported by the IMF TA team.
IMF Link
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Joint Statement on the U.S.-UK Financial Regulatory Working Group
Discussions were held on each jurisdiction’s banking regulation, including resolution-related updates, with participants discussing the importance of implementing reforms consistent with Basel III, and of ongoing dialogue among international partners when implementing these reforms.
https://home.treasury.gov/news/press-releases/jy1773
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GOLD & BATTLE FOR CONTROL?
A tug-of-war for the CONTROL over #gold pricing is starting to play out.
The countries of the Eastern world have been amassing physical gold for numerous years, while the majority of Western nations continue to only add to their debt pile.
Last year, Russia's Finance Ministry said it was critical to create the new Moscow World Standard to normalize the functioning of the precious metals industry and have an alternative to the LBMA.
This week, we saw a surge in gold prices in China, leading to a record premium over international prices, exceeding $100 an ounce.
Read full article: https://x.com/goldtelegraph_/status/1708165335441125862?s=46
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Goldilocks posted a message from Isaac!
“But understand I do not have contacts….I have buyers the us treasury , dod , admiral , hsbc several big plataforma that I have signed contracts with all and they paid already for the inspection several times" Isaac
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Goldilocks posted a message from Bernie Bsherse,(Charitable Religious Trust),
"Isaac does not give clues.
Isaac gives cold, hard, dry facts.
It is established fact that Isaac is the owner of many types of Historic Bonds, and deals directly with the primary purchasers of the Bonds.
When Isaac knows that money has moved, he will tell us.
What Isaac will NOT do is speculate, and/or give mere hopium." Bernie
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This is why you hear me speak of us not going in to exchange until Isaac goes.☝
See above.
* Goldilocks
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In a historic move, the Senate Banking Committee on Wednesday approved a bill that would make it easier for banks to serve state-legal cannabis businesses, positioning the legislation for a potential vote in front of the full Senate.
https://www.bankingdive.com/news/cannabis-banking-bill-passes-senate-safer/694923/
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