Pactum De Singularis Caelum
Covenant of One Heaven
Article 128 - Globe Union Reserve Bank
To manage the Supreme Fiat and Sovereign Currencies of One Heaven, seven (7) Reserve Banks are hereby formed by this sacred covenant as the principle financial organs of the Ucadian societies, namely: the Globe Union Reserve Bank, Africans Union Reserve Bank, Americas Union Reserve Bank, Arabian Union Reserve Bank, Asia Union Reserve Bank, Euro Union Reserve Bank and Oceanic Union Reserve Bank.
The Globe Union Reserve Bank shall be the primary financial entity of all societies on Earth and on behalf of all of Heaven including the Divine Creator, all Angels, Saints, Great Spirits and Demons Redeemed. No other financial entity shall have higher standing.
The Globe Union Reserve Bank shall be the principal financial organ of the Globe Union. It shall function in accordance with its own Charter in accordance with this most sacred covenant 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 Juridic Member.
The Trust Number for the Globe Union Reserve Bank shall be:
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.
In accordance with Article 118.5 of this most Sacred Covenant, the Trustees of the Treaty of One Heaven have Given, Granted and Conveyed the Present of Seventy Two Million (72,000,000) Supreme Credo (Credit) to the Globe Union Treasury.
The founding Capital Stock of the Globe Union Reserve Bank is One Billion, Four Hundred and Forty Million (1,440,000,000) Gold Credo (Credits) guaranteed and underwritten by the Treasury of the Globe Union through its holdings of Supreme Credo (Credit).
When the Globe Union Reserve Bank or any of the seven (7) Reserve Banks formed by this Article issue an Order to a non-registered Juridic Person or Person, it shall carry the same Judicial Authority as the Supreme Court of One Heaven. Therefore, no court on Earth may deny such an order nor disobey such an Order without dishonoring all Heaven, all spirits, and all Earth.
Such Supreme Judicial Powers of the Reserve Banks shall be specifically reserved for concluding currency purchases, redemption's, general transactions and agreements. Where diplomatic relations have been established with a non-registered juridic person or person, then a courtesy notice must be issued before any Supreme Order is issued.
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 the highest 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 highest 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-Union Reserve Bank temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustment's 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.