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Yapa

The Third Age – Of Mind

Book 10 – The Third Law

12 Monetary Law

1	This be Monetary Law:
2	Money, or Currency is a formal system 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.
3	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.
4	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.
5	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 favor of debased metal coins of less intrinsic value.
6	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.
7	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.
8	As Yapa has never been extinguished, nor have the Trusts of First Law and Trusts of Second Law been dissolved, all valid Currency and legitimate Money operating on the lands known as Australia are derived from Yapa and are Superior Estates.
9	No private company, nor private estate, nor private entity is permitted to issue Currency or Money for or on behalf of Australia. All Currency must be public currency.
10	Once created, any unit of Currency issued and underwritten by the Assets of Yapa cannot be destroyed, or fractionalized.
11	While fees for service are permitted, any unit of Currency issued and underwritten by the Assets of Yapa cannot be subject to any form of interest calculation, whereby units of currency are created or destroyed purely from mathematical equation.
12	Any law that is against such truth cannot be law.