GCR Updates As Of 28 June 2024. How Vulnerable Are Our Digital Systems?

[Luigi1]

Here's some GCR articles of Dinarian interests...

“UAE: New guidelines for public-private partnerships, Sandbox Conditions regulation.

How Vulnerable Are Our Digital Systems?

Treat as rumors.  Not verified.  Your opine.

 

 

 

FROM OTHER SOURCES:    “UAE: New guidelines for public-private partnerships, Sandbox Conditions regulation.

ARTICLE:  HSBC said its WorldTrader platform connects to 77 exchanges across 25 markets.

HSBC has selected the UAE as the inaugural market for its new digital trading platform, WorldTrader.

This platform provides HSBC Wealth & Personal Banking (WPB) customers with access to a vast range of investment options, covering up to 80 per cent of global stock market capitalisation.

Through WorldTrader, users can trade equities, exchange-traded funds (ETFs) & bonds, as well as invest in mutual funds & fixed-income products, said the release announcement.

HSBC WorldTrader.

WorldTrader connects to 77 exchanges across 25 markets, catering to the growing demand for international investments.”

 

 

 

“China’s Missing Gold Reserves: Unveiling the Mystery.

A recent report from a Singapore-based newspaper stirs fresh speculation regarding China’s gold stockpile, suggesting it may be significantly larger than officially reported.  This revelation comes from economist Chen Long, who identified a substantial discrepancy when he compared China’s total gold holdings—encompassing retail buyers, regional banks & the People’s Bank of China—with the country’s gold import & production figures.

-The Four-Figure Discrepancy.
Chen Long’s analysis uncovered a striking four-figure gap in China’s gold reserves.  The reported holdings, when combined from various sources, do not align with the impressive numbers seen in import & production data.  This raises an important question: where is the missing gold?”

 

 

“Money & Payments: The U.S. Dollar in the Age of Digital Transformation.

This paper examines the pros & cons of a potential U.S. central bank digital currency, or CBDC, and is the 1st step in a discussion of whether & how a CBDC could improve the safe & efficient domestic payments system.  Money and Payments: The U.S. Dollar in the Age of Digital Transformation (PDF) invites comment from the public.  Importantly, the paper does not favor any policy outcome.

 

The paper summarizes the current state of the domestic payments system and discusses the different types of digital payment methods & assets that have emerged in recent years, including stablecoins & other cryptocurrencies. It concludes by examining the potential benefits & risks of a CBDC & identifies specific policy considerations.”

 

 

“Bitwise CIO Says Spot Ethereum ETFs To Attract $15,000,000,000 in First 18 Months – Here’s Why.

“Everyone wants to know how much spot ether exchange-traded products (ETPs) will attract in net flows.  My answer: $15 billion in their first 18 months.”

 

Hougan says his estimate is based on ETH’s market capitalization relative to Bitcoin’s, how similar products have performed in other markets such as the UK & Canada & the impact of the carry trade strategy.”

 

 

“Gary Gensler Provides Ethereum ETF Update While Slamming ‘Highly Centralized’ Crypto Industry.

U.S. Securities & Exchange Commission (SEC) Chair Gary Gensler says that the approval process for spot market Ethereum (ETH) exchange-traded funds (ETFs) is “going smoothly.”

 

In a new interview at the Bloomberg Invest Summit in New York, Gensler indicates that the SEC will give final approval to the ETH ETF applications, but stops short of giving a timeline.

 

He says that the agency’s staff is working through the particulars of required registration & disclosure statements for the ETH ETFs.

“I don’t know the timing, but it’s going smoothly.  You can almost follow it publicly. You see these filings…””

 

 

“How Vulnerable Are Our Digital Systems?

The problem is that the technological revolution as we fashioned it 30 years ago gradually evolved in an ever more centralized way, wholly dependent on a weak & old-fashioned electrical grid of networks without much duplication or backstopping.  The software too has become centralized for each industrial purpose.  If one thing goes wrong in any system with a single point of failure, the whole comes to a grinding halt.

 

It’s amazing to consider that the old analogue world that lasted from the ancient world until the 21st century did not have this problem. 

 

It was more durable, physically anchored, fixable by human hands, comprehensible & manageable.  The move to digital everything introduced a fragility to the whole that we are only now discovering.

 

This is not only a problem for whole industries.  It affects individuals too. ”