Goldilocks’ Comments and Global Economic News Wednesday Evening 11-1-23
Good evening ,
Iraq Moves Further Out Of U.S.’s Influence With New Russia And China Deals
“With the U.S.’s current primary Middle East focus being on trying to deter a widening of the Israel-Hamas War, China and Russia have been busy cementing their influence elsewhere in the region, most recently in Iraq.”
Iraq has made a new agreement with China. It is called the Iraq-China Framework Agreement. Basically, China has first refusal on all oil, gas, and petrochemicals projects that come up in Iraq.
You know there will be other agreements that are not talked about in an article such as trading in the Petro Yuan.
We are witnessing a reset in the oil, gold, and silver sectors. These sectors of the market create a foundation for price patterns on the rest of it. The debt clock is a place for us to look and find these figures.
© Goldilocks
OilPrice Link
USDebtClock Link
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We now have the two largest oil producers in the world switching over to local currencies in trade. Iraq and Saudi Arabia are currently in the process of making this transition.
The transition of the Petro Dollar to the Petro Yuan in oil trades will begin the process of leveling off of our currencies around the world who trade with them in their own local currencies.
As we approach the completion of Protocol 20 and integration of Quantum Technologies by the first part of next year, we look to be in a spot whereby Quantum Technologies can begin to network at real values.
This will make it easier for a repricing event of the global economy to begin taking place in the first quarter of 2024.
Time will tell.
© Goldilocks
https://stellar.org/blog/foundation-news/stellar-development-foundation-q3-2023-in-review
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Singapore Central Bank and Global Regulators Collaborate on Asset Tokenization Pilots
The Monetary Authority of Singapore (MAS), Singapore’s financial regulatory authority, has founded a Project Guardian policymaker group in partnership with the Financial Services Agency of Japan (FSA), the Financial Market Supervisory Authority of Switzerland (FINMA), and the Financial Conduct Authority of United Kingdom (FCA), according to Monday press release published on the MAS’ website.
Blockonomi Link
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“The GAO confirmed what many suspected: SAB 121 is subject to Congressional review,” said Chairman McHenry. “This rule would impose massive new requirements on financial institutions and other firms to place digital assets on their balance sheets as a liability with a corresponding asset. Ultimately, this would deter institutions and firms from offering custodial services—denying Americans access to safe and secure custody of their assets. SAB 121 was drafted with zero input from prudential regulators and the public, and now Congress must step in to block this harmful rule.”
“Staff Accounting Bulletin 121 should have been an official rule issued by the SEC through the normal process of federal rulemaking. This bulletin has massive implications, and the SEC should have received feedback on it from the federal banking regulators and the public before implementing this legally binding directive,” said Senator Lummis. “I have serious concerns over the impact of this bulletin on consumer protection and ensuring well-regulated financial institutions are able to provide safe custody for Americans’ hard-earned financial assets is my top priority. This sets an incredibly dangerous precedent. I plan to use the Congressional Review Act to block this rule in the coming weeks.”
Financial Services Link
Goldilocks pointed 👆 to this article
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JPMorgan Chase Is Ramping Up its Digital Currency Ambitions
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FOMC Press Conference Introductory Statement, July 26, 2023
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BREAKING: 🇺🇸 Federal Reserve pauses interest rate hikes, remains at 5.25% – 5.50%.
@WatcherGuru
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Today,
China’s biggest index provider launched two stock indices linked to gold, which include shares of global gold mining companies.
Read: https://x.com/goldtelegraph_/status/1719809391174865082?s=46
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HSBC adds fuel to tokenization fire with gold-focused offering
London-based financial giant HSBC is trying its hand at gold tokenization.
The bank launched tokenized ownership of physical gold held in its London vault on Wednesday, noting its use of distributed ledger technology (DLT) to trade the assets.
The approach “generates a permissioned digital representation of clients’ physical gold holdings,” the company said in a news release. One token on HSBC’s gold tokenization platform is equivalent to 0.001 troy ounce.
Tokenized physical gold can be traded between HSBC and institutional investors through the HSBC Evolve platform.
https://www.blockworks.co/news/hsbc-explores-gold-tokenization
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According to an announcement by @swiftcommunity the Payments Market Practice Group (PMPG) has recently updated their #ISO20022 adoption guidelines. okt.to/4ZLyH6
https://twitter.com/payment_infrast/status/1719688993795723754?t=yF86cdi0jQhWXbMjGqtIzA&s=3
ISO 20022 Payments Migration & Interoperability Considerations for the Global Community Version 2
https://www.swift.com/swift-resource/251867/download
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