The establishment of the Earth Bank has been decided on the basis of the Universal Constitution of the Earth compiled by the World Philosophical Forum for the Universal State of the Earth and adopted at the Constitutional Convention on October 07, 2015 in Athens, Greece.
The Earth Bank will act as the promoter for developing the Earth Protection projects with the view of perfection of all Humanity consciousness aiming saving the environment and preserving the fragile equilibrium on the planet. It will be advocating transfer all military expenses for production, modernization and maintenance of modern weaponry and military personnel payments into education and learning of all the Humanity proper human and civic knowledge to perfect life on the planet, constructing a better world.
The Earth Bank is being established in order to provide the Universal State of the Earth (USE) with a State currency and to support and protect the Global Environment.
By issuing the new Currency, named Tero, the first ever universal currency in the history of Humanity, the USE, beside its routine use for financial operations, will finance projects in order to safeguard and protect the essential means of Life preservation and rejuvenation on the Earth such as:
1. Lifelong humanistic, social and civic education and learning for all worldwide;
2. The Earth atmosphere and Climate control;
3. Alternative Energy Production;
4. Forests and Plantations protection;
5. Recycling of waste, garbage, etc.;
6. Drinking Water resources protection;
7. Advanced Agriculture and Animal and Aqua Farming.
Typical Earth Bank Operations (with better terms for Earth citizens):
- Issue of Tero Currency which will be used also as Universal State of the Earth budget and State Bank reserves for USE and other nation-states.
- The proceeds from Tero issue will be used for the international trade, investments, companies’ and corporations’ operational currency and funds, for personal savings, hoarding and expenditure across the globe as well as to fund various social, humanitarian, educational and nature protection projects.
- Will issue Tero denominated Bonds.
- Will provide Loans in Tero.
- Will be the Prime Issuer of Tero Certificates for Carbon Footprint neutralization purposes for individuals, companies and organizations.
- Will issue Tero denominated Debit & Credit Cards, primarily for Earth citizens, for everyday purchases/sales worldwide.
- Will establish various Focused and Regional Funds in order to develop the aforementioned projects.
- Will accept water resources, land, forests, natural resources and alternative projects as assets to the Bank’s Balance Sheet.
The planned and approved Timetable for the development of the Earth Bank establishment is as follows:
1. Bank Articles of Association/Directors - by 30 Jan 2018
2. Bank Formation - by 15 Oct 2018
3. Share Capital Increase in Tero - by 15 Mar 2019
4. Investor Roadshow - by 15 June 2019
5. Establishment of Operations - by 15 Oct 2019
The supervision of the Earth Bank establishment process is effected on behalf of Earth Citizens by the Supreme Council of Humanity (SCH).