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you are here:
> Article 13
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II. Currency Standards and Universal Principles |
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| 2.2 Currency Standards and Social Objectives | ||
| Article 13- General Principles of Transparency | ||
| 13.1 | General Principles of Transparency | |
| Any financial system that permits hidden books, hidden instruments and hidden transactions leaves itself exposed at every point to corruption and eventual destruction. | ||
| Transparency is an essential defense against the corruption of any financial system. Therefore, all transactions undertaken by the Bank are recorded both in the Great Register and Public Record of the Union and made public by Bank. | ||
| 13.2 | History of Transactions | |
| A further protection against corruption and fraud is to ensure that the history of all transactions, especially transactions associated with accounts and currency instruments are complete and transparent. | ||
| As no transaction is permitted without a valid associated instrument, the history of both transactions and provenance of valid instruments provides an extremely reliable protection against fraud. | ||
| As the systems best protection is transparency, backed by complete unique history, individual transaction do not require the level of security and encryption demanded by debt-based currency systems with no valid history and no valid underwriting. | ||
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