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4. Globe Objects
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| Article 42- The Globe Reserve Bank | ||
| 42.1 | The Globe Union Reserve Bank | |
| The Globe Union Reserve Bank is formed by Article 118 of the most sacred Pactum De Singularis Caelum, also known as the Covenant of One Heaven. It shall be the principal financial organ of the Globe Union. It shall function in accordance with its own Charter in accordance with this Sacred Charter and the Codes of Law of the Society. | ||
| The Globe Union Reserve Bank shall have full sovereign living and legal personality through its registration in the Great Register and Public Record of One Heaven as a Corporate Member. | ||
| The Corporate Member Number for the Globe Union Reserve Bank is: | ||
| 42.2 | As Treasury of Globe Union | |
| The Globe Union Reserve Bank shall serve as the Treasury on behalf of the Globe Union and shall be vested with the Treasury powers of the Society. | ||
| 42.3 | Members of the Globe Union Reserve Bank | |
| All Corporate Members of the Globe Union are ipso facto Members of the Globe Union Reserve Bank. | ||
| A society, corporation or person which is not a Member of the Globe Union may not be a Member of the Globe Union Reserve Bank. However, under the conditions of its Charter, the Globe Union Reserve Bank, the Bank may open and manage accounts and currency on behalf of non Members. | ||
| It shall be the responsibility of individual members to ratify and amend such state laws as are necessary to reflect the statutes, authority and organs of the Globe Union Reserve Bank. | ||
| 42.4 | Purposes of the Globe Union Reserve Bank | |
| The primary purposes of the Globe Union Reserve Bank are: | ||
| (1) To provide the necessary currency instruments and mechanisms to maintain a single universal currency system based on credit, not debt, guaranteed and underwritten by Divine Fiat Authority and Sovereign Labor. To enable all financial matters and transactions for all states to be able to be defined according to this single international currency system; and | ||
| (2) To promote the resolution of international monetary instability and capital constraints through diplomatic relations and cooperation with existing international financial institutions to redeem non-Fiat debt based currencies against the Divine Fiat credit-based currencies of the Globe Union and related Unions thereby introducing a new era of economic stability and strength; and | ||
| (3) To facilitate the expansion and balanced growth of international trade and to contribute to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all member states as primary objectives of economic policy consistent with the goals and projected outcomes of the Ucadian Statistical Model (USM); and | ||
| (4) To promote, develop and support the introduction of common regional sovereign fiat currencies for currency exchange across the six major geographic regions of the world, including Europe (euro), the Americas, Africa, Asia, Arabian Peninsula and Oceania. To assist member states in adopting these common regional currencies as their standard means of exchange and payment of accounts; and | ||
| (5) To promote exchange stability between the regional sovereign fiat currencies, to maintain orderly exchange arrangements among Members, and to avoid competitive exchange depreciation; and | ||
| (6) To assist in the establishment of a multilateral system of payments in respect of current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade. To provide the transaction and clearing house mechanisms for international trade and financial arrangements between Members; and | ||
| (7) To provide treasury facilities for the Globe Union and on behalf of Member States for the deposit of their foreign cash reserves that are not otherwise committed to the budget needs of a Member; and | ||
| (8) To provide a co-operative framework between the principle Treasury and Financial organs of each Member State such that optimum and stable policies may be in place for each state in regards to prices, wages, unemployment, growth, debt and investment; and | ||
| (9) To promote the stability of prices, markets and private enterprise through systems enabling the reduction in the insurance and liability burden of member states through insurance underwriting and agreements on reinsurance, risk standards, claims payments and premiums; and | ||
| (10) To protect and help rebuild communities and infrastructure assets through the promotion of international disaster planning standards and policies as well as such organs and agencies that are necessary to ensure immediate international disaster relief assistance and plans exist for every single community in every single member state of the Globe Union; and | ||
| (11) To give confidence to members by making the general resources of the Globe Reserve Bank temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of government budget payments without resorting to measures destructive of national or international prosperity; and | ||
| (12) In accordance with the above, to assist the Globe Union in the achievement of its purposes and principle objectives. | ||
| 42.4 | Organs of the Globe Union Reserve Bank | |
| In order to fulfill its primary objectives, the Globe Union Reserve Bank shall comprise of the following permanent organs and any such other organs deemed necessary by amendment to this Charter: | ||
| Global Reserve (the Reserve) | ||
| International Exchange (IX) | ||
| International Disaster Relief Fund (IDRF) | ||
| International Bank for Reconstruction and Development (IBRD) | ||
| International Insurance Fund (IIF) | ||
| International Government Budget Agency (IGBA) | ||
| International Finance Corporation (IFC) | ||
| Multilateral Investment Guarantee Agency (MIGA) | ||
| International Centre for Settlement of Investment Disputes (ICSID) | ||
| 42.5 | Accounts of the Globe Union Reserve Bank | |
| Each Member State of the Globe Union shall be provided a single set of accounts by the Globe Union Reserve Bank which represents their own financially related accounts. These shall be called Globe Treasury Member Accounts. | ||
| 42.6 | Treaty and Agreement Accounts of the Globe Treasury | |
| By this Charter, each Member State and their related financial organs shall have ultimate authorization for the deposit and withdrawal of funds from any of their standard accounts. | ||
| No power by this Charter shall be permitted to interfere with the right of a registered Member State to their standard accounts except under a vote of emergency powers of the Globe Senate or the Supreme Council. | ||
| 42.7 | Suspension of Accounts of the Globe Treasury | |
| Under extreme circumstances, by this Charter and with a vote of either the General Assembly or the Supreme Council shall be granted temporary executive power over the standard accounts of a member state. In such circumstances that it is deemed the good governance and financial conduct of a state is under serious threat control shall be given to the Supreme Council to temporarily halt a members account authorization. | ||
| Such emergency powers shall be limited by a clause restoring full control of accounts to a member state. No resolution or act shall permit the ongoing suspension of a Member States standard accounts for longer than sixty (60) days. | ||
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