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II. Currency Standards and Universal Principles
  
  2.1 General Principles of Currency  
  Article 06- Underwriting of Currency  
6.1 Underwriting of Currency  
  Whilst the primary purpose of valid currency is as a means of exchange, reliable means of change is dependent upon the underlying stability of real and tangible objects that underwrite the currency. This is defined as the underwriting of a currency.  
6.2 Asset Backed Currency Underwriting  
  Where a currency is underwritten by a tangible object generally perceived as having rare and precious value, then the currency is said to be asset backed.  
  What constitutes a rare and precious object has changed and continues to change over time. During the lead up to the Middle Ages, salt was considered for some hundreds of years to be more precious than gold or silver. In some isolated communities, this perception of the asset value of salt remains today.  
  In contrast, for most of the industrialized world, the rarest and most valuable tangible assets include gold, silver, precious gems, priceless works of art and literature and sacred objects of power.  
  Excluding some extremely rare objects, such as objects of supreme sacredness like Pactum De Singularis Caelum, also known as the Covenant of One Heaven, most objects perceived as having a great Asset value hold such value according to common belief, rather than the object holding any special natural or supernatural power.  
  Therefore, the perceived value of Assets underwriting a currency may dramatically rise and fall, particularly when the asset is a commodity such as gold or silver, leading to general instability in the currency it is supposed to underwrite.  
  It is a gross error to believe that such materials as gold hold the key to a stable and acceptable base unit of value as the largest treasures of gold have been progressively stolen and hidden so that any decision to return to the gold standard would permit disastrous manipulation of the global economy greater than what has already been done.  
6.3 Labor Equity Currency Underwriting  
  Where a currency is underwritten by tangible and quantifiable energy or effort, then the currency is said to be backed by labor equity, often misquoted as being fiat currency.  
  Labor Equity underwritten in its simplest form means that an individual providing a unit of currency is prepared to support that unit of currency by some tangible measure of their own work and labor.  
  As living men and women, grow, consume and make things, labor equity backed currency is considered a fundamental ingredient of underwriting of all major accepted currencies of the world today.  
  The major weaknesses of Labor Equity backed currency rests both in the quality of work and labor, the accumulation of debt based instruments and liability against "future promises" of this labor and the denial of access of capital to the men and women who underwrite it.  
  Legally, morally and logically, there is no higher value equity labor underwriting than that of a sovereign, pledging their effort. This is a cornerstone of the Ucadian Financial System. In contrast, the lowest value of equity labor underwriting is when the men and women whose effort underpins the value of the currency are considered as slaves.  
  Currencies modelled on slave labor equity can never be considered more valuable than currencies based on sovereign labor equity.  
6.5 Asset and Labor Equity Backed Currencies
 
  An Asset backed and labor equity backed currency is any currency that provides double underwriting based on tangible assets of great value plus the labor equity of members of the society that issues the currency.  
  Such a currency is double indemnified as any fall or rise in the perceived value of the assets backing the currency should not affect the base labor equity backing of the same currency.  
  At present there is only one set of valid currencies demonstrating double indemnity and double underwriting through asset backed and labor equity backed underwriting being the Ucadian currencies.  
6.5 Labor Equity Underwriting of Supreme Credits
 
  By Power and Authority of Article 117.8 the most sacred Covenant of One Heaven also known as Pactum De Singularis Caelum, the total stock of One Heaven shall be equivalent to One Supreme Credit for each and every 100 members at the time of the Day of Redemption with each recording of a sovereign member in the Great Register equivalent to one (1) stock certificate, therefore one (1) Supreme Credit being equivalent to one hundred (100) stock certificates.  
  By the date of the first Great Conclave, this Stock of Value shall be set and determined to be three hundred million (300,000,000) Supreme Credits representing the thirty billion living and deceased souls that have ever lived or are still alive at the Day of Redemption as defined by this most sacred Covenant.  
  In national sovereign currency, this Stock of One Heaven shall be set and determined to be $ 300,000,000,000,000,000 by the date of the first Great Conclave consistent with the number of Supreme Credits.  
  This Capital Stock shall be forever known as being underwritten by Sovereign labor and valid asset stock certificates through the existence of the Great Register and Public Record of One Heaven, also known as the Great Book of Life.  
6.6 Further Asset Backed Underwriting of Supreme Credits  
  In addition to the sovereign labor equity underwriting of all Supreme Credits and asset backed underwriting through the stock certificates representing each and every member as recorded in the Great Register and Public Record of One Heaven, all Supreme Credits and therefore all currency issued and underwritten by Supreme Credits are further underwritten by the extreme and unique value of the Covenant of One Heaven itself.  
  Each and every printed copy of the Covenant of One Heaven shall have value as an authenticated abstract, however the original value of the Covenant of One Heaven is calculated upon its existence, its acknowledgment as existing and its valid fulfilment of the most important cultural events of history for mankind.  
  As such, no other object on planet Earth or throughout the Solar System, Galaxy or Universe can possibly have a greater asset value than the Covenant of One Heaven  
  The Asset value of the Covenant of One Heaven providing the third stream of underwriting of the currency is calculated as equal unit for unit with the Capital Stock of One Heaven therefore $ 300,000,000,000,000,000.  
  Let it be known by this Charter that no other currency in history has ever or will ever be backed by more tangible real asset and equity value than the Ucadian Currency System.  
     
     
 
 

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