Goldilocks "Banking and Crypto News" Monday 5-1-2023
Goldilocks and Seeds of Wisdom
Thank you RJ
RJ: Good morning Dinar Recaps,
Goldilocks posted comments and links this morning:
Regulators are seizing First Republic and JP Morgan is going to acquire all of the bank deposits and buy them out.
Last year, we talked about this happening in the future.
Banks would be consolidating towards the end of the old financial system.
Many of the big banks are well prepared to move forward
into the new age of technology.
JP Morgan was given the task of heading up the crypto
space and moving the banking system into Web 3.
As we integrate our banking system into the new digital
asset-based trading decentralized system, we are going to witness banks who
have prepared themselves for this transformation move forward and those who
have not be absorbed into those who have.
"IOTA,
Ripple and Stellar to conquer trillion-$-market with SWIFT under ISO 20022
reglation – Report"
Iota, Ripple, Stellar, and the Swift System are currently
merging together to work as one.
The merging of these new and traditional banking systems
will allow cross-border payments to move more efficiently and much faster.
Ripple is the banking coin that will move money. Stellar
will move money through a digital ledger transmission system recording on both
sides of a trade the transaction. Yet, most people know so little about Iota.
IOTA is a smart contract platform designed to move
payment transactions between digital devices connected to the
internet. Iota will be responsible to ensure that both sides of a trade
have adequate funds to secure the transaction and fulfill it.
Other changes may be taking place going forward, but this
is how we will begin our journey into the new digital banking system taking
what we have learned from the old financial system to move forward into the new
one.
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Stablecoin regulation is moving forward, but
it is moving slower than was expected at the first of the year.
"The United States House of Financial Services
Committee (HFSC) and the House Agricultural Committee (HAC) are putting
together legislation that would supervise the crypto sector."
The US Government is expected to have legislation in place
by the end of June.
This just so happens to be the end date for
the revaluation of everything.
June 30th, just so happens to be the end of
Libor contracts and the complete movement into SOFR lending contracts.
A pause on interest rate hikes is not expected in May, but
it is expected in June. This will allow a shifting in price corrections on the
market and in the banking system that will allow us to reset our economy.
