- World Bank and IMF will seize to exist. So would the need for any world regional banks.
- All global trade commodities will be priced in Earthlings. All export items of all countries will be offered while priced in Earthlings. It will be a single global trade market, for each country’s export items.
- All global fund transfers (international wire transactions) will happen in Earthlings, thus simplifying global trade / transactions. E.g., Whether you are transferring funds to Europe, China, Japan or Korea, you always do the international wire transfers in Earthlings, despite their local currency. The recipient Bank upon funds receipt in Earthlings, could either hold them in Earthlings or convert it to their local currency, as per its preference. Global banking is simplified. Many to many currency conversion headaches are removed for Banks.
- Earthlings will be printed only in 2 or 3 mints, all located in a single location. These mints will be monitored by representatives from all countries (at least one from each country).
- Most forex reserves held by each country must be in Earthlings.
- Investment Bankers who trade in currencies, can be allowed to do so, on a single global standardized platform.
- Each country will have to hold only their local currency and Earthlings as Foreign exchange reserves. If their Central Banks want to hold some reserves in other currencies (purely from an investment or holdings vantage point), they could do so.
- At international airports, point of departure, the forex stations should allow buying Earthlings against local currency. At the point of destination, forex counters should be able to convert Earthlings to the local currency of that country. So, most international travelers could only carry Earthlings and travel to any country and shall do fine upon landing.
- Global banking is simplified. Many to many currency conversion headaches are removed for Banks.
- Most importantly, this brings economic and trade equality to planet earth. World will become a single market place for most exporters.
- It gives equal opportunity to all countries and brings balance to global trade.
- Countries with no currency today, should come up with their own currency which is at a certain proportion against Earthling, to enable them to do trade or generate wealth from what they could export.
- All developing and economically backward countries benefit significantly from this. USA and its economy will also be subjected to checks and balances.
- BRICS can take advantage of this new system and can be much more competitive on the global stage, as undue advantage of USA that has gone on for centuries is eliminated.
- Allows India and China to get to number 1 or 2 positions in the economic scale in few decades. This reform is the most important to the flawed global economic system that is existing (and prevalent) today. Without this reform, BRICS and other countries aspiring to develop stand no chance.
- Each country must have a special ‘International trade Bank’ which allows bulk (high value) Earthling transactions for registered global traders who do import / export of goods, to other entities in other countries who are in turn registered import / export traders in those countries. As another thought, all registered global traders who do import / export of goods must showcase their products online on their website, for bulk import / export deals ONLY and ‘not for retail sales in the local or any foreign country’. This allows the registered global traders to be transparent to the government, CB, and the International trade Bank in the country.
- All banks should allow international wire transactions in Earthlings, in smaller amounts with a cap, for regular citizens. This will be subjected to amendments by GEC over time.
- Local or domestic business; whether online or offline, must be conducted in the local national currency only.
- This will regulate international trade and forex transactions. E.g., USA can still print Dollars for themselves; UK can still print Pounds for themselves; however, they cannot use them (their local currency) for international trade directly.
- The initial exchange of each country’s holdings into ‘Earthlings’ will be on record with GEC (Global Earthling Counsel); and such information will be fully transparent to all country’s governments. Along with such data, the international trade numbers (done in Earthlings) of each country will also be on record and available to all nations. This curbs all fraudulent activities funded by bribes using any one local currency in a different country.
- All international airlines could price their flights in Earthlings and the local price could easily be computed by the customers at the exchange rate to Earthling (at the time). It makes their pricing and offering easy and simple to all, instead of pricing at individual country currencies.
- All global ‘Money based rankings’ could be done in Earthlings. For example, Forbes richest people listing cut-off could be by Billion Earthlings or more, GDP (nominal) of countries will be listed in Earthlings (GDP-PPP (by Purchasing Power Parity) will seize to exist as a national economic indicator), Global movies earnings and rankings could be in Earthlings, International hotel stay pricing could be in Earthlings, International tourism packages pricing could be in Earthlings, Global commodity pricing could be in Earthlings, International products or services pricing by exporters could be in Earthlings, International sports tournament prize money could be in Earthlings.
Investment Banking after Project Earthling goes LIVE
- Local investments will be made in local currency. Foreign investments would be done in Earthlings into a foreign country, as per the respective country’s government regulations. Most of the investment banking activities shall continue as they are today; to invest in commodities, shares, stocks, mutual funds, other instruments.
- The key advantage for any investor would be to off load his wealth into Earthlings in turbulent economic times. Investors could stay conservative or go aggressive in investing outside Earthlings, based on their risk appetite. With Earthling as an option, investment bankers also get a sense of relief during turbulent economic times.
- Currency trading could still be allowed on a single standardized global platform which could be accessed by special authentication given to investment bankers.
- Each country central bank could invest their treasury holdings into 5-year or 10-year Earthling bonds that gives a yield of 0.2, 0.5, 0.8 (mostly under 1%) for their investments. Since this would be offered to all countries, no one country would complain about it. GEC Earthling bonds may only be offered to country CB’S or even the rich people from around the world. If they do so, the terms of investment, yield return offered could be different for CB’S and rich people.
- The Earthling bonds could be offered by the ‘Global Earthling Counsel’ or ‘Global Economic Counsel’ that is responsible for printing Earthlings. As an alternative, a GEC bank fully in control of GEC, could be set-up under the ambit of ‘United Nations’, governed by all country representatives, to manage ‘Central bank investments into Earthling Bonds’.
- Rich people from all across the world need not look at putting money into ‘Hedge Funds’; which (despite the algorithms and past trend analysis) are effectively and essentially backed by USD (and the uncontrolled printing). GEC, and the Earthling bonds provide safe investing option to the world’s richest people. They could invest into the Earthling bonds through their national CB’s or even directly.
usd V/S EARTHLING comparison. Zoom into the image if required.
This currency comparison between usd and Earthling currencies must be reviewed and evaluated in detail by 193 world countries and all their citizens.
