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Goldilocks and Seeds of Wisdom
Goldilocks posted news links and comments to help us understand where we stand:
Our next banking benchmark is June 19th, 2023. The Bank of England migrates to the ISO 20022.
At this point, some of the largest banks in the world will be on board with the International Messaging System running inside our three Global Nation Payment Systems.
This will be a migration of one of the largest Banks around the world where cash flows run through internationally.
https://www.bankofengland.co.uk/payment-and-settlement/rtgs-renewal-programme/iso-20022
“Bank of America, Wells Fargo and JPMorgan Chase Close New York Branches in Three Months: What’s Happening?”
A friend of mine in the banking system shared with me about some of the new regulations that have recently come out.
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* Each bank has to have a certain number of accounts in it and a certain amount of money to keep it open.
* Banks are required to give a 90-day notice for customers to be able to move their funds.
This is one way to put pressure on people to learn how to use online banking.
Some of these funds will go into digital currency accounts designed for investment purposes.
Others will hold precious metals including 1 million copper pennies as we saw in yesterday’s article.
Watch your nickels and pennies closely. We are moving into a technological society my friends. Get ready.
I expect many changes to start happening by the first of the month at a very rapid pace.
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The Cleveland American LINK
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Cross Border International Trading digital mechanisms are still being updated and will be on an ongoing basis.
The decentralization of our new monetary system will require scalability mechanisms that will allow digital money to move from one country to another at a very rapid pace.
This will enable secure transactions of foreign currencies around the world.
BSC News LINK
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“All licensed exchange companies of the two categories (A, B) are kindly requested to provide us with a report evaluating the risks of money laundering and terrorist financing in their companies, along with providing us with the treatments and measures taken to reduce these risks, provided that we receive the answer no later than (1/7/2023 ).”
Isn’t it amazing how July 1st 2023 keeps showing up.
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“The IMF has told Pakistan it needs to secure additional external financing, scrap a swathe of populist subsidies, and allow the rupee to float freely against the dollar before unlocking another tranche of the $6.5 billion facility.”
Currencies with a floating exchange rate trades without any restrictions. This will allow supply and demand to determine exchange rates for the Indian Rupee.
Here, we have another country changing their trading mechanisms to allow an open exchange system that will give them control over their own exchange rate.
It’s all happening on the water my friends. Watch the water.
Source: Dinar Recaps
Goldilocks posted links on the Iraqi Budget and some comments:
Per CBI Banker Contact in Iraq.
Iraq is currently working with JP Morgan and the Federal Reserve on migrating to the FEDNOW International payment system.
And, their banking employees are currently undergoing logistics training on the FEDNOW services.
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Independence Day is just around the corner.
Could this turn into a Global Independence Day?
Time will tell.
Follow the Timeline of the Process and the Roadmap
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The Parliament Bell Rang To Begin The Session To Complete The Vote On The Budget 06/11/2023
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Parliament Votes On Article 59 Of The Budget
8 more left
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A new evening in the Iraqi parliament sponsored by the budget, and two obstacles by passing
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The House of Representatives is now resuming the vote on the remaining articles of the budget bill
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XRP and the SEC go head-to-head next week.
Big news is expected in this long-awaited settlement case on the validity of XRP being able to trade freely.
When this case is finalized, look for XRP to take the lead in the new digital economy.
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Source: Dinar Recaps
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