The Yahweh’s Prudential Regulation Authority (“YPRA”) is an organ of the Yahweh’s Gold Bank (“YGB”), which itself is an integral part of the Ministerial National Confederation of Indigenous People, the Assembly of First Nations Philippines & Federal Maharlika Monarchy and the new Cordillera Nation, a self-governing and self-determining autonomous nation within the Philippines, a confederation (the “Confederation”) of 188 indigenous peoples’ tribal communities throughout the Philippines that, with “Free Prior Informed Consent,” have chosen to form a cooperative organized as a Confederation to create their own means of economic prosperity by using and exploiting the substantial God-given gold resources held within their ancestral domains since time immemorial for the benefit of all.
In the Bible, God makes two profound declarations. He says: “’The silver is mine and the gold is mine,’ declares the LORD Almighty” (Haggai 2:8); and “The earth is the LORD’s, and everything in it, the world, and all who live in it” (Psalm 24:1). The members of the Confederation and all the people of the Cordillera Nation have acknowledged the fact that all their gold has belonged to God since time immemorial even if God’s storehouses are within their ancestral domains.
YPRA is the supervisory authority that will oversee and regulate the Cordillera Nation’s new global gold-backed monetary unit symbolized by the monetary code “YWG” (each representing a unit of physical gold as defined in the unit trust of 254 nations and is legal tender within the Cordillera Nation and the ancestral domains of the 188 tribal communities.
Since every monetary unit issued and placed into circulation through each of the 254 national units trusts will be deemed to be “Holy to Yahweh”, YPRA has the task of ensuring that each YWG gold-backed monetary unit secured with God’s gold meets with the highest standards of justice, ethics, integrity, transparency, and compassionate social responsibility before Yahweh who is Holy, Righteous and Just, the Lord Jesus Christ.
YPRA is responsible for the prudential regulation and supervision of licensed commercial banks, community banks, mutual banks, trust banks, insurers and investment firms who either wish to hold reserves deposits denominated in YWG monetary units, or have opted to move away from a global system of fractional reserve banking.
The launch of the YWG gold-backed medium of exchange will lead to a paradigm shift in banking which will impact every bank and financial institution that migrates to this 100% gold-backed BaaS system of banking based on YWG Gold Units (“GU”). Therefore, YPRA will set standards and supervise financial institutions through a global network of independent auditors and advisors.
The YPRA has three statutory objectives:
- to promote the safety and soundness of these firms;
- to ensure that the Central Clearing Party (“CCP“) for all transactions undertaken in YWG GU, is supported by appropriate legislation to complement the supervision of the safety and soundness of the YWG GU and all firms for the benefit of all Sovereign Individuals; and,
- to contribute to the securing of an appropriate degree of protection for policyholders (for insurers).
The YPRA makes an important contribution to the Bank’s core purpose in that it is tasked with protecting and enhancing the stability of the Cordillera Nation’s 100% gold-backed monetary system, a function that is diametrically opposed to the illusionary debt-based central banking model where central bankers worldwide are merely tasked with regulatory oversight allegedly designed to minimize the inevitable systemic risks associated with an ever-expanding FIAT currency system where the fractional reserve banking model promotes and empowers the creation of currencies created out of “thin-air“.
The YPRA has reviewed and utilized the enormous amount of precedent regulation of other Regulatory Authorities to set appropriate new standards/policies for its gold-backed monetary system and which it expects firms to meet. YPRA will monitor compliance against these standards. It will also assesses whether financial firms are safe and sound and whether insurers provide appropriate protection for policyholders and whether firms continue to meet the Threshold Conditions. The systemic risks that firms may pose to financial stability in the future is expected to be negligible. However, if required, rapid and effective action will be taken against those financial institutions that breach the licensing conditions to effectively manage risk.
Given the enormous gold reserves of YGB, meaningful financial support is available for all commercial banks, community banks, mutual banks, trust banks, insurers and investment firms, to ensure that no entity will ever pose a systemic risk to the financial stability of the Cordillera Nation’s gold-backed monetary system.
The YPRA’s most significant supervisory decisions are taken by its Committee (Prudential Regulation Committee) – comprising the Governor of the Yahweh’s Gold Bank, the Deputy Governor for Prudential Regulation, Financial Stability and Markets and Banking, the Chief Executive Officer of the YPRA, a member appointed by the Governor of the Yahweh’s Gold Bank with the approval of the President and Prime Minister of the Cordillera a Nation and at least 6 members appointed by the represent the interest of the Confederation. The Committee is accountable under the traditional customary laws to the representative assembly of indigenous people monarchies, for the exercise of rule-making powers.