Goldilocks’ Comments and Global Economic News Saturday AM 10-21-23

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Goldilocks’ Comments and Global Economic News Saturday AM 10-21-23

Good morning,

Stocks fell yesterday as investors stayed spooked by high bond yields, rising oil prices, and concerns about the Fed’s next move. American Express dropped despite reporting record profits for last quarter because the growth of spending on its cards by businesses has slowed.  

© The Morning Brew

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In a significant move to enhance user accessibility and expand its foothold in the European market, cryptocurrency exchange Binance announced that it has established partnerships with multiple new fiat service providers.
(
https://cryptopotato.com/binance-announces-helmet-design-contest-in-partnership-with-alpine-f1-driver-pierre-gasly/


According to a blog post, the company has already commenced migrating users to these new services, which include EUR deposit and withdrawal options via Open Banking and SEPA/SEPA Instant, as well as facilitating the buying and selling of cryptocurrencies through various methods.

Integrating new fiat providers is a strategic move for Binance to advance its mission of global financial empowerment. By ensuring seamless access to fiat-crypto conversions, Binance aims to simplify cryptocurrency adoption, especially for newcomers. These fiat pathways are pivotal in improving user experience and expanding access to Web3 ecosystems.

https://cryptopotato.com/binance-expands-fiat-services-in-europe-with-new-partnerships/

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We are living in a time where many assets are in distress. They are called “distressed assets.” From homes to cars and more, many people just simply cannot pay their bills as they come due.

Layoffs and lack of job opportunities account for many of these distressed assets that have reached a price of unaffordability.

Many attempts to restructure a loan often work in a growing society, but we are in a global economic downturn. These options at present rates just simply do not work in today’s world.

We are not living in a world where real-world assets of real values apply. Our economy is moving closer and closer to a reset of everything.
© Goldilocks

https://viewpoints.reedsmith.com/post/102iq6h/distressed-assets-whats-coming
EurekaHedge

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The Federal Reserve is extending their comment period on proposed Bank Capital requirements.

It is moving from November 30th, 2023 to January 16th, 2024.

Once the comment period Is over, Congress in conjunction with the Banking system will move toward final rules of implementation on how much capital / commodities should be held in Banks as collateral.

These collateral requirements will secure loans, banking investments, and currency transactions from around the world.

© Goldilocks

https://finance.yahoo.com/news/fed-extends-comment-period-on-proposed-bank-capital-requirements-152518890.html.

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Jim Rickards : Fed Overtightening and Liquidity Shortage Raise Concerns

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