Goldilocks’ Comments and Global Economic News Monday Evening 2-5-24

06/02/2024

Good Evening ,

BAGHDAD, Feb 4 (Reuters) – “Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit by a top U.S. Treasury official.”

The Iraqi Banks have been banned from accessing the Iraqi Central Bank’s daily dollar auction.

The daily dollar auction has become a way of smuggling dollars for Iran, and this is expected to restrain much of those activities.

This is part of the economic and financial reforms Iraq is going through to meet International Banking Standards and achieve International connectivity.

As you can see, Iraq has begun implementing some of their economic reforms as promised. Reuters

© Goldilocks

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“A casual search through digests and the reading of case head- notes may leave the searcher with the vague impression that the outbreak of war has some peculiar effect upon contracts, not to be accounted for by any of the well established principles of contract law.

Thus, it is frequently said that war suspends contracts and that the cessation of war revives the same.

On the other hand, it is stated elsewhere in no less positive terms that war dissolves and abrogates all contracts between subjects of belligerent nations.

An attempt will here be made to show that cases arising upon contracts affected by war may in fact be classified by an application of the broad principles of the common law relating to contracts.”

We have said in this room a few times before that history has shown us that exchange rates change during wartime or soon after.

Price distortions create contract breaches between nations and even the people within the banking system. These distortions make it difficult for obligations to be met between all parties.

As we continue to involve ourselves in wars, the likelihood of more distortions will create a need to revalue assets and their real values when this is done.

This is a day by day situation, and changes can come at a moment’s notice. It is important that we stay alert going forward for these changes. https://www.jstor.org/stable/1111481

© Goldilocks

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When we begin to move from quantitative tightening to quantitative easing through lower interest rates, this will begin to give room for technological advancement and an increase in gold prices.

This is the move we need to see to increase the value of our new tokenized assets coming onto the market. It will be our signal for increasing the value of our new digital asset based trading system.

Here, lending restrictions will lessen giving way to collateralized lending services whereby an digital asset growth economy will open a path forward into the new economy. Forbes

© Goldilocks
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As we discussed a few weeks back, Hong Kong was in the process of testing several digital currencies around the world in their sandbox.

A sandbox is a place where assets can be piloted, tested, and see how they will react with each other. We talked about how this would lead to regulation going forward on the stablecoins that were in this sandbox.

Below is an article for your perusal. It states how oversight and regulation is needed for their digital OTC or over the counter assets going forward. This is an indication that they are beginning to move forward with stablecoins that represent a country’s currency.

© Goldilocks
The Currency Analytics

ZeroCap

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Digital Assets Association Launches: Building a Bridge Between Traditional Finance and RWA Tokenization | Crypto-Reporter

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While Powell said the Fed tries not to comment on fiscal policy, which is determined by Congress and the White House, he did comment on the debt. “The U.S. federal government’s on an unsustainable fiscal path,” he said. “And that just means that the debt is growing faster than the economy. So, it is unsustainable.” | CBS News

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Feb 4 SDF Protocol20 update: Post 1 of 2
Most of you know by now the P20 vote was delayed until Feb20 due to a “refundable fee bump bug” that was discovered just a few days before the intended public vote. But what yall probably don’t know — and what SDF wont say — and what all those non-white hat Stellar devs & crypto journalists don’t understand — is the WHY behind the WHY of this delay

Issue:
Wallet sending transaction should get a certain fee refunded when a certain action takes place, but instead of the SENDER getting the refund, the RECEIVER is getting the refund

SDF’s Initial Public narrative (to start the discussion):
It’s not a big deal, and we don’t think it will impact that many, but it could potentially impact everyone, but who knows it probably won’t, and even if it does the resulting unintended lack of returned fees are not so significant, it’s more of a nuisance than anything, but we don’t want negative press because people are soooo complainy these days, so let’s delay the vote and make things nice and clean.

Happy happy, no one can blame us for anything!

NON-QSFS Stellar dev discourse on Discord + Articles:
I think we should proceed with the vote, as you said it’s not a big deal, so why delay? We will do what we can to mitigate the bug on our end for our app programming too. But the fees are so nominal it just doesn’t matter at the end of the day if it’s not fixed, but it would be nice if you eventually fixed it. kthxbai

Tomer Weller, KanayeNet, MonsieurNicolas forced to guide the direction:
nonono, I think it could really potentially impact more people than we thought because even wallets that are NOT “OFFICIALLY” supporting Soroban can still be affected 🤣🤣🤣 but really there is no worry if everyone decides to “DO THE RIGHT THING” AND NO ONE DECIDES TO EXPLOIT THIS to INTENTIONALLY DRAIN sender wallets

Justin Rice ninjas his way in:
ok at first I will just present the bug to the community and ask for your opinion while I stay totally neutral on this topic, next I will pretend that your opinions influenced our decision to delay, and finally I will pretend to be shocked the delay really happened since it was a nail-biter (even though I was already busy prepping to group call to discuss this AND writing another SDF blog post officially announcing said delay). oh BTW, thanks for the engagement and for working together to reach this consensus 😊

📱 QSI Channel
📱 Stellar & QFS Training App

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Feb 4 SDF Protocol20 update: Post 2 of 2
Declas:
White Hats in charge behind the scenes carefully guided the convo in this direction using puppets like OrbitLens (remember: WHH March 2023 😂😂😂 relisten to WHH interview #1 @ min 17-19 “we have an informant”💥🔨 — and undoubtedly more puppets by now too).

This is CRITICAL TO UNDERSTAND FOR PSYOPS BECAUSE THIS SAME STRATEGY IS BEING USED ON THE ENTIRE WORLD VIA MEDIA AND SOCIAL MEDIA.

Recall how white hats now control Mockingbird Media (yes even especially FakeNewsMedia) so they decide which stories break and use it to guide public discourse to slowly awaken people to the past monstrosities and current ridiculousness of how fake everything is for the Awakening process

Now that you understand how hilarious this entire bug delay narrative is, let’s go back and re-analyze with a clear mind and break down how the psyops works and what their end goal is:

– Account Abstraction + Targeted Wallets drained of funds = is ______ 🍑🍑🍑🍑🍑🍑🍑🍑🍑
😅 didn’t I keep repeating in 2023 that prettier.js is one of my absolute favorite sneaky ninjas in this game?? reread 🍑🍑🍑🍑🍑🍑🍑🍑🍑

📱 QSI Channel
📱 Stellar & QFS Training App

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Thanks for explaining this to us QSI. You are very appreciated. Thanks for all you are doing to move our digital economy forward with love and light.

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FINRA Continues Focus on Crypto Asset Securities | Blockchain Legal Resource

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An ancient trade route whose time has come once more – Aze.Media

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House reps press CFPB to reopen comments on larger participant rule | News | Dodd Frank Update

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Freedom Fighter ©

🇮 IRAQI northern port -Umm Qasr has received the largest & newest ship (MSC Berangere) built in 2023 carrying 2,659 containers has entered Iraq’s ports for the first time! https://en.964media.com/11516/
🚢WATCHING THE WATER

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BRICS nations to drag US back into the gold standard? Feat. Ron Branstetter | ZeroHedge

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Germany’s Largest DZ Bank To Pilot Bitcoin Trading After Crypto Custody Services | CoinGape

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STELLAR XLM🚨HUGE DELAY, BUT DON’T WORRY🚨WHY XLM CAN MAKE YOU RICH | https://youtu.be/VxiU2liTbtM?feature=shared

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