“Two RV’s” – Seeds of Wisdom RV/GCR Update(s) from Goldilocks 8-11-23

Goldilocks and Seeds of Wisdom

Goldilocks posted comments and news links on the global financial system:

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Tradeweb has partnered with LSEG FXall. This is an electronic platform for Global currency products. It is designed to launch FX Swap Workflows.

FX Swap Workflow is a multi-asset digital solution capable of exchanging digital processes across local currencies such as Emerging Market bonds and foreign currency swaps through a single interface.

An interface is messages passed back and forth between two computers allowing data to be assessed and approved to move forward with a currency transaction from anywhere in the world.

This new mechanism has been a part of the Forex currency reforms as of late being designed to create more efficiency and security in this sector of the market.

Clients are able to buy and sell Emerging Market bonds through this electronic mechanism allowing a “request for quote” and a “request for market” protocols to complete a trade.

It is more than just an efficient way of doing foreign currency trades. It also enhances local currency risk around the world.

https://www.assetservicingtimes.com/assetservicesnews/technologyarticle.php?article_id=14687&navigationaction=technologynews&newssection=technology

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BRICS Bank To Increase Funding in Local Currency, Ditching U.S. Dollar

As we have noticed, the price of the dollar has increased lately. And now, the decreasing value of the dollar can no longer be relied on for trade in the East.

This has forced the New Development Bank to trade and lend in local currencies strengthening their positions in the local markets.

Currently, the New Development Bank has been funding local currencies and de-dollarizing at the same time.

New liquidity is forming in the Eastern half of our world as new money velocity and new demands will forge new price patterns to emerge.

https://watcher.guru/news/brics-bank-increase-funding-local-currency-ditch-u-s-dollar

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Silvercorp Metals’ Path to Sustained Growth in Today’s New Electrification Economy | SilverSeek

https://silverseek.com/article/silvercorp-metals-path-sustained-growth-todays-new-electrification-economy

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Bitcoin: US Bank Drops Crypto Bombshell, Reveals $82M BTC Reserves.

AUGUST 10, 2023 BY LIPIKA DEKA

Bitcoin continues to drive institutional interest, as revealed by SoFi Bank’s Q2 earnings report. The San Francisco-based bank is causing a stir in the financial industry thanks to its wide range of digital assets, which include Bitcoin, Ethereum, Litecoin, Cardano, Solana, and even Dogecoin.

https://www.tronweekly.com/bitcoin-us-bank-82m-btc-reserves/

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What are ISO 20022 Coins? A Guide to Compliant Cryptocurrencies

ISO 20022 Coins

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Banking announcement:

US Senators Reintroduce Digital Asset Anti-Money Laundering Act.

By Editors, Regulation Asia Published on 10th August 2023

The bill, if enacted, would require firms to start reporting crypto transactions exceeding $10,000 after 18 months.

https://www.regulationasia.com/us-senators-reintroduce-digital-asset-anti-money-laundering-act/

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Banking announcement:

The digital pound.

We are looking at the case for issuing a digital pound. This type of money is known as a central bank digital currency (CBDC).

It would not replace cash.

https://www.bankofengland.co.uk/the-digital-pound?sf180375266=1

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Currently, we have two RVs taking place. One is for the banking system. The other is for the people.

The first one has to be done before we can move to the second one.

Stay tuned.

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Market risk is climbing.

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Zimbabwe: Reserve Bank Set to Introduce Gold-Backed Digital Tokens for Daily Transactions

https://allafrica.com/stories/202308110221.html

Source: Dinar Recaps

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