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CASE STUDY # 2: European Country – Questions & Answers

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  1. Under what method will the public debt of our Nation State be paid?  
  • By redeeming the claims from different creditors; or,
  • Through a direct contract with our Nation State, which will pay the public loans from these funds? 

Full details of the GGMF Debt Forgiveness Process, is set out in a FAQ Article entitled “How the GGMF Debt Forgiveness Process will be implemented.”

  1. Who will be the owner of these claims resulting from the redemption of the public debt of our Nation State? 

During the Transition Period, as and when GGMF settles the creditor claims, GGMF becomes the temporary owner of such creditor claims. 

However, GGMF will forgive all of the claims by the end of the Transition Period, so that there is no further financial debt obligation on the Nation State.

Further details of the “Debt Forgiveness Phase” are contained in Section F of the GGMF Debt Forgiveness Process.

  1. How would GGMF structure or process (the financial flow) the settlement of the creditors?  Would the settlement take place via a major commercial bank or the National Central Bank? 

The GGMF Debt Forgiveness Process sets out the entire process for the conversion and settlement of Foreign and Local Debt.

There would be at least four parties involved in the settlement process:

  • GGMF;
  • The Country Member’s Treasury Department, through the office of the Minister of Finance;
  • The designated bank, which issues local currency to GGMF under the GGMF Debt Forgiveness Process which GGMF solely needs to secure and support the nationwide switch-over conversion, including any settlement, from fiat to gold units; and,
  • The creditor.

  1. What are the conditions for granting or redeeming the public debt? 

The Nation State is required to submit an application for membership as a Country Member.

Full details of the process and the various phases are recorded in Case Study #1.

These are four (4) phases which a Country Member should follow:

  • The Initial Evaluation and Planning Phase
  • The Application for Membership Phase
  • The Implementation Phase
  • The Post-Implementation Phase

  1. What conditions or obligations are to be accepted by our Nation State as a Country Member of GGMF? 

The obligations of a Country Member are set down in a FAQ Article entitled “Country Member Obligations”.

  1. Will our Nation State be able to benefit from other loans from the GGMF? 

Yes. GGMF provides each Country Member with access to the:

  1. Will our Nation State be able to benefit from other funding entities? 

Yes. Any Country Member may utilize other funding entities, subject to such funding entity matching the ZERO INTEREST RATE charged by GGMF via the Special “Adopter” Allocation and Special Purpose Funds.

It is worth repeating that:

  • It is one of GGMF’s objectives to remove the oppressive debt burden on Nations and Sovereign Individuals and there should be no need for the Country Member to borrow any funds;
  • Any financing provided through the Special Purpose Funds to banks or other entities has a ZERO COST, subject to a MAXIMUM on “Lending Interest Rate” of THREE PERCENT (3%) to entities and Sovereign Individuals; and,
  • GGMF has set aside sufficient Gold Units for every Country Member to enjoy positive growth over the next fifty (50) years, at which stage the requirements for each Country Member will be re-evaluated.

  1. What are the guarantees that must be granted by our Nation State to GGMF for the settlement of all our debt? 

GGMF does NOT require any guarantees from the Country Member. 

To find out more about “WHAT IS THE ESSENCE OF GGMF?” click here.

  1. What will be the interest rate on GGMF funding?

All funding provided by GGMF to the Country Member for the Settlement of all foreign and local debt, the Special “Adopter” Allocation and use of the Special Purpose Funds has a ZERO COST. 

See the answer to question 7 above for further clarification.