Updates concerning the RV/GCR
08/12/2021 White Paper
THE FREE ENTERPRISE SYSTEM INVOLVING CURRENCY EXCHANGE
THE FOREIGN EXCHANGE CONTRACT
About the author.
Mr. Bradley is a US licensed attorney and a European Licensed Attorney (aka Barrister). He has practiced for 24+ years in Banking, Securities, Real Estate, Wealth Management, Trust & Estate Planning and other international corporate transactional & high finance matters. Before becoming a licensed attorney, he was a FINRA licensed securities trader for 10 years, and a Commercial Banker for 10 years. He holds a double major BBA from UT in Finance and Economics.
It is important to note that attorneys do not create laws. Parliaments and Legislators create laws. What attorneys do is utilize all available resources reviewing existing laws, rules, revenue rulings, treaties, existing case laws rendered by courts and opinion testimony of experts. Although an expert in his own right in his field of practice field and through his various Professional licenses, let the record reflect that all information provided herein below is derived from aforesaid various noted legal resources which is readily available for further review by anyone on line. The invitation to review on-line the information provided below and to expand ones knowledge is even more important to those who offer nothing but negative, personal, opinions without personally possessing any actual knowledge, experience or training in what they speak about; where their opinions are only offered as a form of hate and/or are prejudiced by their geopolitical agenda. Please refrain from the “opening mouth, inserting foot” Syndrome.
WHAT IS A FOREIGN CURRENCY EXCHANGE?
The Foreign Currency Exchange (aka FOREX or FX) is the free enterprise system / free open market system for the conversion of one currency into another currency at a specific rate known as the foreign exchange rate. The conversion rates for almost all currencies are constantly floating as they are driven by the market forces of SUPPLY and DEMAND.
The most traded currencies in the world are the United States dollar, Euro, Japanese yen, British pound, and Australian dollar. The US dollar remains the key currency of global exchange which accounts for more than 87% of total GLOBAL daily value traded.
WHAT DEFINES AN ACTUAL CURRENCY EXCHANGE
The exchange of currency is where a willing buyer / purchaser of currency is willing to buy / exchange a stated currency at a stated current market rate, or at a stated contract rate , and a willing owner/seller is willing to sell said currency at said stated rate. This is how free trade and capitalism has transacted business for over a thousand years.
WHAT FACTORS AFFECT FOREIGN EXCHANGE RATES
Many factors can potentially influence the market forces behind foreign exchange rates. The factors include various economic, political, and even psychological conditions. The economic factors include a government’s economic policies, trade balances, inflation, and economic growth outlook.
Political conditions also exert a significant impact on the FOREX rate, as events such as political instability and political conflicts may negatively affect the strength of a currency. The psychology of FOREX market participants (aka panic buying & panic selling) can also influence exchange rates.
THE CURRENCY MARKET INFLUENCES
As noted above, the Currency Market transaction generally comprises two sides: the BUY-SIDE which consists of buyers of foreign currencies and forward FX contracts and the SELL-SIDE which consists of primary dealers in currencies and originators of forwarding foreign exchange contracts such as large corporations.
Currency Markets deals with different currencies and these currencies are hugely impacted by the fundamental factors such as the balance of payments formula, expected economic growth rate, fiscal policy by the government of the country, the autonomy of the central bank in implementation of monetary policy and interest rate environment in general which makes one currency depreciate or appreciate against other currencies.
THE FOREIGN EXCHANGE MARKET
The foreign exchange market is a decentralized and over-the-counter market where all currency exchange trades occur. It is the largest (in terms of trading volume) and the most liquid market in the entire world. On average, the daily volume of transactions on the forex market totals $5.1 TRILLION, according to the Bank of International Settlements’ Triennial Central Bank Survey.
The FOREX market major trading centers are located in major financial hubs around the world, including New York, London, Frankfurt, Tokyo, Hong Kong, and Sydney. Due to this reason, foreign exchange transactions are executed 24 hours, five days a week (except weekends). Despite the decentralized nature of FOREX markets, the exchange rates offered in the market are the same among its participants, as arbitrage opportunities can arise otherwise.
The foreign exchange market is probably one of the most accessible financial markets. Market participants range from tourists and amateur traders to large financial institutions (including central banks) and multinational corporations.
Also, the FOREX market does not only involve a simple conversion of one currency into another. Many large transactions in the market involve the application of a wide variety of financial instruments, including forwards, swaps, options, derivatives, etc.
The FOREX is an extremely important market and plays an indispensable role in the exchange of currency from one country to another, and in maintaining global liquidity. The successful integration of the world and free flow of trade is only possible due to the flourishing currency market which enables buyers of goods and services and sellers of such goods and services to convert their foreign exchange receipts/payments into local currency. The Currency Markets involves licensed Traders (aka brokers), Speculators, Arbitrageurs, Investors, Banks/Financial institutions, corporations, etc. and together they make the currency markets highly efficient and liquid.
WHAT IS A FOREIGN CURRENCY EXCHANGE CONTRACT?
A foreign exchange contract is a legal arrangement in which the parties agree to transfer between them a certain amount of foreign exchange at a predetermined rate of exchange, and usually at a predetermined date.
THE 2007/2008 GLOBAL BANKING CRISIS AND THE CHINESE FOREX CONTRACT
Presently, the world is engulfed in surviving a global pandemic, the Covid 19 Virus. The entire world is reeling from stagnant economies; with the US being one of the few whose economy is still growing. However, all the world’s Sovereign governments are printing fiat currency to keep their respective country’s economies going.
This global habit of just printing money is creating a global bubble and de-valuating the currencies of the world.
After the 2007/2008 Global Banking Collapse, the US Government lead a GLOBAL coalition, called the Basel III Accords; where all the World’s country’s agreed to go back to an asset backed currency. As a result of the BASEL III Accords (signed by all 207 Sovereign Countries/ SovereignStates), the Chinese entered into a FOREX EXCHANGE CONTRACT (the “Contract”) agreeing to redeem and exchange various sovereign currencies of nations who currency was deemed worthless by all other sovereign nations. Among others, this included the Vietnamese Dong, the Iraqi Dinar, and the Zimbabwe dollar. This was all part of a GLOBAL CURRENCY RESET/REVAUATION (“GCR/RV”) Agreement.
Under this Contract, President Bush, then President Obama, then President Trump, executed said Contract [along with all the other 207 World’s Sovereign Nations/States] whereby the Chinese agreed to advance funds to the US Treasury, to “redeem” and exchange these currencies, and also perform a GLOBAL CURRENCY RESET (the “GCR/RV”). Specific terms, specific conditions, and specific dates were agreed upon. There were no other “conditions” negotiated or agreed upon outside these exchange /revaluation terms.
However, when President Bush left Office, President Obama (after redeeming his Iraqi Dinar) arbitrarily modified the terms of the Contract; adding terms and conditions upon the US citizens. President Trump ratified the same Contract and ordered its immediate execution. But the Democrat run Congress held up its actual execution and implementation.
This additional term and condition required; as noted above, was that Americans, and ONLY Americans (ie. the balance of the world do not have this added condition), can only receive up to 20% of their currency for personal use. The net 80% will be held back by the US Treasury (UST) and could only be used in the interim for “humanitarian projects”; with the Government having full beneficial use of said 80% net being withheld by the US Treasury. Then after “up to 100 years later”, the currency owners could then receive the net 80% balance. The consolation prize is the US Gov’t would pay annual interest on said withheld 80%.
The hidden legal problem is, and the elephant in the room, based on the US Constitution, the Government may not encroach upon or restrict the Free Enterprise/ Free Open Market System. Adding terms and conditions to the Contract; which was not part of the original Contract; IS NOT valid and is a restriction of the Free Enterprise system and our democratic system.
The government may not add terms and conditions to any contract, especially a Sovereign Contract signed by 207 Countries, without the express written acceptance by all signatory parties, including the Chinese who is the actual purchaser/redeeming party and whose money is being used for said GCR/RV event. That is CONTRACT LAW. PERIOD. The Fat Lady Has Sung.
The other problem is the Government has ZERO right to take people’s money; dictate how they spend their money, invest their money, or gift their money. The money belongs to the owner. The money does not belong to the Government. The only obligation is to pay the taxes due when due. Otherwise this is legally called: “a taking without just representation”.
As to the issue of taxation, per the Contract terms, it was agreed by all 207 Sovereign Nations, including the US Government, that this GCR/RV event will not be a taxable event. However, it is prudent to note that the States, and Cities, who collect State imposed income taxes, may be subject to income taxes on the GCR/RV.
08/12/2021 Podcast White Paper
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