Board of Governors of World Bank and IMF Announce Transition to Asset-Backed Currencies
The Board of Governors of the World Bank and IMF announced that fractional reserve fiat currencies will be replaced with gold from a trust created at the end of World War II.
Jose Rizal, Superior General of the Society of Jesus, and his lawyer, Ferdinand Marcos, established this trust for the benefit of humanity. The trust also contains other precious metals, gems, and artwork.
The Federal Reserve and the US Treasury do not possess the monetary gold reserves of the United States; these reserves are in the trust administered for the benefit of humanity by the Bretton Woods institutions. Instead, the Federal Reserve owes quadrillions in compound interest on obligations issued during the 1930s.
The Board of Governors has filed Financing Statements with the Secretaries of State in the 12 states where the Federal Reserve Banks are located to secure this debt. National debts are going to be offset against the indebtedness of the Federal Reserve.
Antal Fekete, a monetary expert of the New Austrian School of Economics, said: "A negative gold basis tells you that there is an excruciating shortage of deliverable gold."
The Board of Governors determined that the fractional reserve fiat currency of each country is going to be exchanged for their national currency in aurum (http://www.peakprosperity.com/podcast/84359/new-way-hold-gold). Treasuries will issue gold certificates on an interim basis. The certificates will be replaced with aurum as they are minted.
With restored confidence in international currencies, peace and prosperity will be preserved. Legal tender laws will go out of effect, and local currencies will be permitted. Countries may also issue asset-backed currency with other commodities than gold.
The Bretton Woods institutions held the trust secret for 50 years so that the assets were clear and free for humanity as a whole under the statute of limitations.
The 50 years of sequestration ended in 2005. A coalition for the rule of law has come into existence to end the secrecy and to safeguard humanity's patrimony. This coalition was predicted by an accurate power transition model developed for the US Department of Defense by Jacek Kugler (https://s3.amazonaws.com/khudes/sentia+model.pdf).
The fractional reserve fiat currencies of the central bank members of the Bank for International Settlements will continue to circulate until they are exchanged with aurum.
Karen Hudes, the Acting General Counsel of the International Bank for Reconstruction and Development, is legal counsel to the trust.
