Goldilocks and Seeds of Wisdom
Goldilocks posted commentaries with links:
Sometimes, we have to look back for clarity to move forward.
Do you remember all of the reports we have been looking over in this room from the Deutsche Bank? The ones that show you the SOFR lending services going out to countries around the world inside their Banks?
And now, we hear on Friday that the Deutsche Bank is under the risk of certain failures if they do not comply. As we have said before, the Deutsche Bank touches all banks around the world.
The transition on the banking end is as follows:
* Bank failures
* Bank consolidations
* Deutsche Bank failures
I want to point out that we have reached all three levels, but we are in process of transitioning into the new system as well.
We are at a pivotal moment in time, and I am looking for a pause in interest rates at any moment. This will create a break in the system long enough for new price actions (resets) to be applied across all sectors of the market.
This move from Libor contracts to SOFR contracts is a very pivotal point come June 30th. At that time, the transitioning part of the financial system will be over.
ONLY collateralized (SOFR) contracts backed by digital commodity based assets will move and liquidate our banking system going forward.
Sometime between now and that date above, the entire financial system is going to go through a revaluation process. There will be some battles over currency reforms to distract us. This will mean that what we are looking for is just around the corner.
It is out with the old financial protocols and in with the new asset-backed digital commodity protocols. These final changes won’t come easy, but they will be worth it.
Early in July, the FedNow International Payment System will launch. Coincidence? Timing? Interesting…
The Board of Directors of the Central Bank of Iraq decides to withdraw the license of one bank and three exchange companies, and to stop the activity of a number of others due to violations.
The Central Bank of Iraq would like to inform electronic payment companies / collectors of the need to direct and warn all their agents / outlets for cash withdrawals directly not to use POC devices outside Iraq, and to take the necessary measures by them to obtain a written undertaking within a maximum period of 1/5/2023, otherwise the company will bear And the violating agent / executor has all the legal consequences, and their companies must follow up, investigate and put in place the necessary policies to ensure that these devices do not work outside Iraq.
Iraq is in process of banking and currency reforms just like many other countries around the world.
The good news is that changes are in process, and Iraq is aligning themselves with the new global banking system.
“The financial services industry “is halfway through a marathon” in its preparations for T+1, according to a panellist at this year’s ISITC Summit in Boston.”
The T+1 settlement cycle means that trade-related settlements must be done within a day or 24 hours of the completion of a transaction.
We are currently in process of perfecting a set of procedures that will make rapid settlement payments possible.
Source: Dinar Recaps
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