TREASURY DIRECT ACCOUNT
DOING THE RIGHT THING FOR THE WRONG REASON
DOING THE RIGHT THING FOR THE WRONG REASON
Winston Shrout |
The latest ‘fad’ to being going around is what is called the Treasury Direct Account technology. It is gaining momentum at a rapid rate, but my observation on this is a bit different, perhaps, than many other people.
The concept of ‘treasury direct’ is well known, and stems from the system of global finance established long ago and is the basis for our ‘commercial redemption’ concepts. It has to do with the Global Debt Facility and the Collateral Accounts under the control of Dr. Ray C. Dam of the Office of International Treasury Control. The gold of the Collateral Accounts under write, or at least that was the way it was designed, the world’s currencies. But there have been some shifts in that concept over the years, until at the present moment; it would seem that it is not even considered. An attempt to assassinate Dr. Dam occurred in 2010, and he went into recluse.
In essence, the Collateral Accounts are the surety to guarantee the use of the world’s currencies all of which are debt currencies with the exception perhaps of the Postal Currency known as Postal Money Orders.
A common definition of the word “surety” is that one entity guarantees the debt of another entity so that in the event of a failure or default on a debt, the surety would step in as the insurance policy to deal with that debt. When the surety intercedes in such a situation, then the surety has rights in regards to the defaulting party.