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VI. Assets, Currencies and Liability Redemptions
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6.1 Assets |
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Article 92- Globe Silver Credits |
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| 92.1 |
Globe Silver Credits |
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Globe Silver Credits are hereby recognized as the third most valuable class of Assets that may ever be held by any Treasury or any Bank. |
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Globe Silver Credits are fully underwritten by Universal Gold Credits with one million (1,000,000) Globe Silver Credits equivalent to one (1) Universal Gold Credit. Therefore, the third highest class of Asset Accounts held by the Bank shall be the Asset Accounts of Globe Silver Credits. |
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Whilst Globe Silver Credits refer to silver in their title, they are in fact more valuable and functional than Silver and therefore provide a superior substitute for traditional silver bullion reserves. |
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Globe Silver Credits are not to be confused with silver certificates which are a much lower level of securitized asset based upon the requirement of a physical reserve of silver associated with the particular certificate. |
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| 91.2 |
Asset Account entries of Globe Silver Credits |
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Consistent with the transfer of one hundred and fifty three thousand, five hundred and twenty nine (153,529) Universal Gold Credits from Asset Trust Accounts to Asset Currency Accounts, the Treasury of the Bank shall make the following original account entries concerning the Asset Accounts of Globe Silver Credits: |
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(i) Approximately one hundred and fifty three billion, five hundred and twenty nine million (153,529,000,000) Globe Silver Credits have been formed as Securitized Assets fully underwritten by the equivalent value of Universal Gold Credits deposited in Universal Gold Credit Asset Currency Accounts with the Treasury of the Bank; and |
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(ii) The full amount of one hundred and fifty three billion, five hundred and twenty nine million (153,529,000,000) Globe Silver Credits have been hereby deposited into the Treasury Asset Trust Accounts for Globe Silver Credits; and |
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(iii) Approximately fifty billion, five hundred and nineteen million (50,519,000,000) Globe Silver Credits have been transferred from Asset Trust Accounts to Asset Bond Accounts, then transferred and deposited into the Treasuries of the lesser Union Banks, according to the following amounts: |
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| Reserve Bank |
Globe Silver Credits Bond Accounts |
| Africans Union Reserve Bank |
8,000,000,000 |
| Americas Union Reserve Bank |
15,019,000,000 |
| Arabian Union Reserve Bank |
3,500,000,000 |
| Asia Union Reserve Bank |
10,000,000,000 |
| Euro Union Reserve Bank |
12,000,000,000 |
| Oceanic Union Reserve Bank |
2,000,000,000 |
| Total |
50,519,000,000 |
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(iv) Approximately eighty nine billion, nine million (89,009,800,000) Globe Silver Credits have been transferred from Asset Trust Accounts to Asset Currency Accounts, then transferred and deposited into the Treasuries of the lesser Union Banks, according to the following amounts: |
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| Reserve Bank |
Globe Silver Credits Currency Accounts |
| Africans Union Reserve Bank |
3,755,600,000 |
| Americas Union Reserve Bank |
27,003,000,000 |
| Arabian Union Reserve Bank |
4,623,600,000 |
| Asia Union Reserve Bank |
21,562,800,000 |
| Euro Union Reserve Bank |
28,788,200,000 |
| Oceanic Union Reserve Bank |
3,276,600,000 |
| Total |
89,009,800,000 |
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(v) Approximately fourteen billion (14,000,200,000) Globe Silver Credits shall remain in Trust Accounts with the Treasury. |
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