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Fall 2009 Inaugural Edition Page 1
 
he AUric™ standard was firstproposed as part of theSWAN
SAT
System’s goal
1
to
1 See our companion article entitled
Low-Cost ICT: The Golden Key to Africa’s Economic Future 
printed elsewhere in thisinaugural issue of The President Magazine.
implement a modern Marshall Plan forthe African Union. Our intention inmaking this proposal was to equip theAfrican Union to take its rightful place asa leader in returning the world to anhonest form of money—gold and silver.
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SWAN
SAT
’s proposed partnership withGlobal Settlement Fundation to producethe AUric™ gold standardwill stabilize the economy of both theAfrican Union and its member states
 
By William P. Welty, Ph.D.for the Global Settlement Foundation
 
 
The AUric™: A Gold Standard for the African UnionPage 2 Inaugural Edition Fall 2009
DR. WILLIAM P. WELTYADVISOR TO GLOBALSETTLEMENT FOUNDATION
 
As an economic harvest begins to be reaped in thecoming years, we believe the African Union will beenabled to attract, generate, and retain wealth. In thisarticle, we’ll address how all of this can come about withimmediate effect, even though SWANsat won’t launchuntil mid-2014….
An Invitation to Shape theFuture of the African Union
SWAN
SAT
recently invited the African Union toutilize its substantial network of contacts within theinternational Sovereign Wealth Fund community toarrange a private, high-level executive briefing.The briefing was to be attended by senior AfricanUnion Commission personnel, by SWAN
SAT
executives,and by selected managers of the major SWF’s that aredoing business anywhere within the African Union.In return for the African Union arranging that meetingand assisting SWAN
SAT
to obtain the USD$36 billionneeded to fund its constellation of 14 high-poweredtelecommunications spacecraft, SWAN
SAT
has offered toprovide a minimum post-debtpayoff return to the AfricanUnion in the amount of USD$1billion per month fromSWAN
SAT
revenues gainedfrom its operations in G7nations. SWAN
SAT
has alsooffered to pay these revenuesharing funds in gold andsilver, conditioned on all of usworking together to craft thenew real money AUric™system for the African Union.Each AUric™ will represent acountable, deliverable, and measurable unit of accountconsisting of 0.1 gram by mass of 99.99% fine gold.
Introducing the AUric™
The AUric™ (symbol: ) will be deliverable in 1Kilogram gold bars by weight with a face value of 10,000.The GSF System will implement cryptographicallysecure notes or Safe Keeping Receipts (SKR) that will beissued against gold held in the GSF System vaults.The electronic SKR will charge a 2.5% storage feeannually to cover the costs of minting and circulatingsmaller AUric™ pieces. Storage fees will
discourage
 hoarding by the fearful and
encourage
depositors tocirculate their deposits throughout the worldwideinvestment community.
Will the proposed AUric™ gold system incentivize the rest of theworld to return to gold as its universal medium of exchange, thusbringing about global economic stability? Let’s hope so…
The proposed 400 AUric design dedicates its reverse coinface for use by member states to highlight their specificcontribution to the Union of African States. The outer bandcontains a cryptograph area that incorporates anti-counterfeiting safeguards.
 
 
The AUric™: A Gold Standard for the African UnionFall 2009 Inaugural Edition Page 3
They’ll also pay for attrition due to wear in circulationas well as for the vaulting, insurance and protection of thegold in the GSF system.Transaction fees generated will be used to pay for adistributed secure payment and data processing system.Details concerning the GSF System are contained inthe
 Note Verbale and Memorandum of Understanding
 now pending joint signature by and between the AfricanUnion, Global Settlement Foundation and the SWAN
SAT
 System.
Nano-technology brings realgold content to the AUric™
The use of advanced nano-technology will ensure thateven the smallest denomination of AUric™ in circulationwill have at least 70% gold content by face value.The elegantly simple act of impregnating AUric™notes with 70% real gold content by face value means thatcounterfeits will be impossible without the counterfeitermatching the content of their counterfeit with 70% realgold.The difference between the face value and the goldcontent, less actual minting costs, will be stored in theGSF system.Bearers of AUric™ coinage and currency may redeemtheir holdings for AUric™ bullion at any time in large-scale increments of 1.0 kilogram or 10.0 kilograms of 99.999% fine gold
Why the Global SettlementFoundation System (GSF)?
In order best to manage our proposed AUric™ goldstandard, SWAN
SAT
Holdings recently agreed toparticipate in Global Settlement Foundation (GSF), anindependent, international non-profit organization thatwill provide finality of settlement for global trade andestablishment of accountable units of gold.GSF will establish a global free market and acryptographically neutral, worldwide, and secureelectronic marketplace where tokens that represent anyproperty can be freely exchanged.GSF will enable the physical and lawful processes thatfacilitate creation and movement of goods and services,thus also facilitating production and trade by the freemarket of real, tangible wealth.Clearly identifiable and immediately observable,tangible benefits—including real wealth andinvestments—will flow to the African Union and to itsmember states.
Financial World War and theNeed for Global Settlement
Unnoticed by most people, a financial world war hasbeen ongoing for more than a century. In this war, thepoorest countries of the earth, including its honest, hard-working citizens, have been among the most severelyaffected.
The earliest records of human civilization demonstrate the esteemin which gold has been held as a medium of exchange for goodsand services, as well as an expression of wealth, prosperity, andeconomic powerof a successful nation. Throughout history, goldhas heldits purchasing power. In Roman times, for example, oneounce of gold bought a toga for a Senator to wear. Today, thatsame one ounce of gold will purchase an excellent business suit.WARNING: This graphic is a bald-faced lie. It creates the falseimpression that the Deutschmark, the Franc, the British Pound, theDollar, and the Yen are gold-based. They aren’t.These instrumentsare created as
fiat money 
symbols with the full knowledge,consent, and cooperation of their issuing governments.
 
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