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II. Currency Standards and Universal Principles
  
  2.2 Currency Standards and Social Objectives  
  Article 14-General Principles of Debt and Credit Currencies  
14.1 General Principles of Debt Currencies  
  A debt or liability currency is any currency based on promises and loans against borrowed assets and/or other debt. Whilst such currencies may claim status as being a form of credit currency, such currencies come to life through borrowings, rather than the drawing of pre-existing credit capital and are therefore a true liability rather than an asset.  
  Such currencies appeared in greatest use after limited asset backed currencies were effectively eliminated from the new international financial system with the end of the gold standard in preference of secretly using the birth certificates of members of participating societies as collateral to form hidden trusts against which money was loaned into existence at interest.  
  Neither the global system of effectively selling people at birth via their certificates as slaves, nor the existence of the hidden trusts were openly admitted by major participants in the present debt based currency system.  
  However, because of the self-accumulating and unsustainable global debt within the system, this secret slave bonding of innocent men and women willingly by their national and central treasuries was no longer enough with taxes and other charges to sustain the system. As a result, the system was forced to change and adopt an asset backed liability liquidation through the system to clear the debt and base future finance on the Ucadian Credit currency system.  
14.2 General Principles of Credit Currencies  
  Credit currencies are based on the pre-existence of one or more tangible assets backing the creation of a currency underwritten by these one or more classes of assets.  
  As credit and not debt, credit currency is based on the tangible existence real assets of value, not highly manipulated assets of perceived value or fraudulent financial instruments.  
  The most important two assets backing the highest, most valuable credit system is the promise of sovereign labor, rather than "slave" labor of members of a society, itself underwritten by a tangible of object of extreme value- the Covenant of One Heaven demonstrating Divine Authority.  
  The only society to ever demonstrate such clear authority is the Society of One Heaven, through which Supreme Credits are issued both with Divine Authority and Sovereign Labor of one hundred (100) members, living and deceased underwriting each and every Supreme Credit--underwritten again by the extreme asset value of the Covenant of One Heaven.  
  As the Union itself is backed by the Globe Union which itself is backed by the Society of One Heaven, the currency system of the Bank are backed by the most valuable Assets possible.  
     
     
     
     
 
 
 
 

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