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4. Globe Objects
  
  Article 34-Universal (Gold) Credit  
34.1 Universal (Gold) Credit  
  By the power and authority of Pactum De Singularis Caelum, the Covenant of One-Heaven, a unit of supreme value shall be instanced, so that this unit of value might support the primary objectives of One Heaven and all the free societies of Ucadia. This unit of value shall be known as a Supreme Credit.  
  When instanced into instruments as Bonds, Supreme Credits shall permit the creation of the second highest currency known as Universal Gold Credits, or simply Universal Credits.  
  One hundred (100) Universal (Gold) Credits shall be equal in value to one (1) Supreme Credits.  
  A Universal (Gold) Credit is never permitted to be fractionalized nor reduced in any way less than the whole number value of one (1).  
34.2 Structure of a Universal Gold Credit  
  By this article, the following criteria shall be the essential structural components of a Universal Gold Credit:  
  (i) At least one (1) valid unit of universal value evidenced by the existence of a unique eighteen (18) digit serial number representing the valid existence of the Universal Credit belonging to the Great Ledger of Universal Credit serial numbers for all Universal Credits ever created and issued; and  
  (ii) A single beneficiary to whom the Universal Credit is granted being either a valid Corporate member or Individual member of the Society; and  
  (iii) A record of the valid eighteen (18) digit Great Register number of office of Notary of One Heaven that first created the Universal Credit; and  
  (iv) A record of the valid eighteen (18) digit Great Register number of the member commissioned to the office of Notary that first created the Universal Credit; and  
  (v) The eighteen (18) digit Great Register number of the instrument to which the one or more Universal Credits have been assigned; and  
  (vi) The Ucadian Time at which the Universal Credit was legitimately created and assigned to its particular instrument; and  
  (vii) The eighteen (18) digit Great Register number representing the valid Account into which the one or more Universal Credits have been placed; and  
  (viii) The eighteen (18) digit Great Register number representing the valid Supreme Credit instrument specifically underwriting the issue of these one or more Universal Credits.  
  If one or more of these criteria cannot be demonstrated, then an object cannot be legitimately be considered as a valid Universal Credit.  
34.3 Structure of an Authenticated Abstract of Universal Gold Credit  
  An Authenticated Abstract of Universal Credit shall be any printed instrument demonstrating all eight (8) valid criteria for a valid Universal Credit.  
  The original form of Universal Credit is and always shall be by its existence in the Great Register. By this Covenant, authenticated abstracts may be created for the purpose of demonstrate the legitimate existence of Universal Credits and their instruments.  
  Instruments of Universal Credit may be issued as either Treasury Credit Bonds or Treasury Credit Notes.  
34.4 Face value relationships of a Universal (Gold) Credit  
  A Universal (Gold) Credit shall have the following permanent value relationships:  
  1 supreme credit = 100 universal gold credits  
  1 universal credit = 10,000 globe silver credits  
  1 universal credit= 10,000,000 sovereign credits  
  1 globe silver credits = 1,000 sovereign credits  
  1 sovereign credit = 100 Cents lawful Public Money  
34.5 Forbiddance of usury  
  No Usury (interest) may be charged by any central bank on the manufacture and distribution of currency supported by the face value of the given Universal Credits in circulation.  
  Usury is banned by an entity being charged on the release of credits into circulation upon the certification of a valid loan. Only flat fees as a reflection of service, with no imputed attempt to hide usury as a fee is permitted.  
  The reason that Usury is banned is that it directly attacks the integrity and fabric of currency value and therefore wealth and commerce. This has been an ancient and fundamental understanding by civilizations using monetary systems for thousands of years.  
34.6 Global Currencies  
  Recognizing that the essential purpose of any international monetary system is to provide a framework that facilitates the fair exchange of goods, services, and capital among countries, and that sustains sound economic growth, and that a principal objective is the continuing development of the orderly underlying conditions that are necessary for financial and economic stability, this Charter recognizes six (6) valid union sovereign currencies, namely:  
  (i) The Africans Sovereign, also known by the abbreviation AFUS, also recognized by the following symbol as the Official Currency of the Africans Union equal to one (1) sovereign credit; and  
  (ii) The Americas Sovereign, also known by the abbreviation AMUS, also recognized by the following symbol as the Official Currency of the Americas Union equal to one (1) sovereign credit; and  
  (iii) The Asia Sovereign, also known by the abbreviation ASUS, also recognized by the following symbol as the Official Currency of the Asia Union equal to one (1) sovereign credit; and  
  (iv) The Arabian Sovereign, also known by the abbreviation ARUS, also recognized by the following symbol as the Official Currency of the Arabian Union equal to one (1) sovereign credit; and  
  (v) The Euro Sovereign, also known by the abbreviation ERUS, also recognized by the following symbol as the Official Currency of the Euro Union equal to one (1) sovereign credit; and  
  (vi) The Oceanic Sovereign, also known by the abbreviation OCUS, also recognized by the following symbol as the Official Currency of the Oceanic Union equal to one (1) sovereign credit.  
  These six (6) credit currencies shall always be equal in value, recognizing the equality of all men and women, regardless of race, age, colour, religion, education or society.  
34.7 Foundation Stock and Capital of Globe Union  
  By article 127 of Pactum De Singularis Caelum (Covenant of One Heaven), the founding stock and capital of the Globe Union shall be one million, four hundred and forty thousand (1,440,000) Supreme Credits.  
  Therefore, the founding Stock and Capital of the Globe Union in sovereign currency equivalent is set and determined to be one thousand, four hundred and forty trillion (1,440,000,000,000,000) Sovereign Credits equivalent to one hundred and forty four thousand trillion (144,000,000,000,000,000) Cents of lawful Public Money.  
  A further stock issue shall be granted by One Heaven sixty four years (64) after the first Great Conclave and again at the date of the second and subsequent Great Conclaves every one hundred and twenty eight (128) years.  
34.6 Exchange Rates and Equivalent Value of Global Sovereign Currencies  
  Whilst Union Sovereign currencies must always be determined as equal, recognizing the sovereign equality of all men and women, the exchange rate between the lawful Public Money of the society and alternate Societies may be determined according to fair value and review every three (3) months.  
  While this Charter and other Charters determine the original exchange value of one valid sovereign credit unit of currency equivalent to one hundred (100) Cents of Lawful Public Money, it shall be the right of the Globe Union Reserve Bank to increase the equivalent exchange in Public Money cents as appropriate.  
34.8 Redemption of Universal Credits  
  Universal Credits shall be redeemable upon request from any Reserve Bank for equivalent value in Supreme Credits or gold bullion equivalent bank holding equivalent currency and bullion. The Globe Union Reserve Bank has the right to fulfil any redemption value in Supreme Credits where gold bullion reserves are unavailable to meet the redemption request.  
34.9 Universal Credit in Circulation  
  A Universal Credit is considered in circulation when a currency of equivalent face value to its Union value has been issued. The removal of Universal Credits from circulation shall be determined by the Globe Union Reserve Bank consistent with its obligations and objectives as defined by its Charter.  
34.10 Globe (Silver) Credits  
  To enable global trade and tranfer of the value of Universal Credits to their beneficiaries, a lesser currency known as Globe Silver Credits shall be formed.  
  A valid Globe Silver Credit shall have the same requirements of validity as a Universal Gold Credit with the exception of its face value relationship and underwiriting instrument being a valid Universal Credit.  
  One valid Universal Gold Credit shall be equal to ten thousand (10,000) valid Globe Credits.  
     
     
 
 

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