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you are here: > Canonum De Ius Positivum
> Article 49
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II. Form |
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| 2.1 Form | ||
| Article 49-Currency | ||
| Canon 1698 | ||
| Currency is a formal system of money based on some standard unit of measurement, a store of value and a medium of payment and exchange. Money is anything that is generally accepted in exchange as payment for Goods according to some estimated value. | ||
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| Canon 1699 | ||
| While the key function of money is to act as a medium of exchange, when money is formalized to be recognized as a store of value, a unit of account and method of payment according to certain rules, then it may be regarded then as Currency. | ||
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| Canon 1700 | ||
| All currencies and therefore money may be defined into two (2) types according to the method of underwriting the value of the money: Commodity and Property. | ||
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| Canon 1701 | ||
| Commodity Currency is the simplest form of currency whereby the money itself is the underwriting and carrier of value. The most common examples of commodity currency are gold and silver coins, now rarely minted in favour of debased metal coins of less intrinsic value. | ||
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| Canon 1702 | ||
| Property Currency is any currency that uses Rights of Property by claim, lien and other mechanisms as the method of underwriting. All Property Currency is based upon the rules of Negotiable Instruments and the associated concept of Temporary Trusts in which to convey the Property. | ||
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| Canon 1703 | ||
| All Notes, also known as Bank Notes and Bills are by definition fungible Negotiable Instruments, therefore Property Currency based upon one or more classes of Property conveyed into Temporary Trusts as its store of value. A Bank may choose to issue one Bank Note against one Temporary Trust for one Trust Corpus of Property, or may choose to issue multiple Bank Notes against a Temporary Trust to the total value of the Trust Corpus. | ||
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| Canon 1704 | ||
| The two most common forms of Property used to underwrite Currency as Negotiable Instruments are Rights of Claim, also known as Rights of Redemption and Liens, most notably Maritime Liens. Currency based upon “Redeemable” value was most common in permitting the Property of the Instrument to be converted into a good of equivalent value, in particular gold or silver. However, most Currency based on Redeemable property has been withdrawn in favour of currency based on Liens. | ||
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| Canon 1705 | ||
| The principle of Property Currency based on Liens is the acceptance by an Estate that because the property under Lien cannot be effectively “seized”, the lienholder is granted permission to monetize their right and then “sell” the debt to recoup their loss. | ||
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| Canon 1706 | ||
| The significant difference between monetized maritime liens conveyed into trust and issued through the structure of Property Currency and Negotiable Instruments is that a monetized bill of exchange is not permitted to be dishonored by any merchant within the Roman system, without severe penalties. This is because Maritime liens represent the highest lien coming from the authority of the highest estates and to dishonor this authority is to dishonor the entire global Roman land, property and finance system of the world. | ||
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| Canon 1707 | ||
| In each estate deliberately bankrupted and forced to issue equitable title Property Currency through a private reserve bank, the Live Birth Record of each new borne child is monetized as a bonded promissory notes and then “sold” and conveyed into a separate Cestui Que (Vie) Trust per child owned by the private reserve bank. Upon the promissory note reaching maturity and the bank being unable to “seize” the slave child, a maritime lien is lawfully issued to “salvage” the lost property and itself monetized as currency issued in series against the Cestui Que (Vie) Trust. Thus the currency of private reserve banks is only leased by the population who then pay rent in the form of interest for currency they underwrite because of the monetized maritime liens issued against them as Roman slaves. | ||
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| Canon 1708 | ||
| As the Society of One Heaven is the First See and the one, true and only Holy See, all currency issued under Maritime Liens is now the property and subject to the True See in accordance with these canons and the sacred covenant Pactum De Singularis Caelum. | ||
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| Canon 1709 | ||
| Any treasury, or reserve bank that refuses to acknowledge that any currency issued under Maritime Liens is now is ultimately the property of the First See and the one, true and only Holy See being the Society of One Heaven is open consent and agreement that the rules guiding the global Roman financial system of currency no longer apply and are null and void. | ||
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| Canon 1710 | ||
| Any treasury, bank or financial institution that dishonors currency issued by a valid Ucadian society commits an act of extreme dishonor and by such action openly accepts full liability and underwriting of such an instrument. Failure to further honor such a valid instrument is open consent by the particular Roman institution that the rules guiding the global Roman financial system of currency no longer apply and are null and void. | ||
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