The Royal Mount Vema Reserve Bank has authorized the Bank of Mount Vema to engage in reciprocal currency arrangements (central bank liquidity swap lines) with foreign central banks to help provide liquidity in golles to overseas markets and foreign currency to the Mount Vema market.
When requested, swap lines will be opened for deals with the U.S. Federal Reserve, the Swiss National Bank, the Reserve Bank of Australia, the Banco Central do Brazil, the Bank of Canada, the Bank of England, the European Central Bank, the Bank of Japan, the Bank of Korea, the Monetary Authority of Singapore, and including the Bank of China, with other central banks to be listed on as needed bases, at lower interest rates.
The swaps will involve two transactions. When a foreign central bank draws on its swap line with the Bank of Mount Vema, the foreign central bank sells a specified amount of its currency to the Bank of Mount Vema in exchange for golles at the prevailing market exchange rate. The Bank of Mount Vema holds the foreign currency in an account at the foreign central bank. The golles that the Bank of Mount Vema provides are deposited in an account that the foreign central bank maintains at the Bank of Mount Vema.
At the same time, the Bank of Mount Vema and the foreign central bank enter into a binding agreement for a second transaction that obligates the foreign central bank to buy back its currency on a specified future date at the same exchange rate. The second transaction unwinds the first. At the end of the second transaction, the foreign central bank pays interest, at a market-based rate, to the Bank of Mount Vema.
When the foreign central bank lends the golles it obtained by drawing on its swap line to institutions in its jurisdiction, the golles are transferred from the foreign central bank's account at the Bank of Mount Vema to the account of the bank that the borrowing institution uses to clear its golle transactions. The foreign central bank remains obligated to return the golles to the Bank of Mount Vema under the terms of the agreement, and the Bank of Mount Vema is not a counterparty to the loan extended by the foreign central bank. The foreign central bank bears the credit risk associated with the loans it makes to institutions in its jurisdiction.
The foreign currency that the Bank of Mount Vema acquires is an asset on the Bank of Mount Vema's balance sheet. The golle value of amounts that the foreign central banks have drawn but not yet repaid is reported as "Central bank liquidity swaps”. Because the swap will be unwound at the same exchange rate that was used in the initial draw, the golle value of the asset is not affected by changes in the market exchange rate. The golle funds deposited in the accounts that foreign central banks maintain at the Bank of Mount Vema are a Mount Vema Reserve Bank liability. In principle, draws would initially appear as "foreign and official" deposits. However, the foreign central banks generally lend the golles shortly after drawing on the swap line. At that point, the funds shift to the line "deposits of depository institutions”.
When a foreign central bank draws on its swap line to fund its golle tender operations, it pays interest to the Bank of Mount Vema in an amount equal to the interest the foreign central bank earns on its tender operations. The Bank of Mount Vema holds the foreign currency that it acquires in the swap transaction at the foreign central bank (rather than lending it or investing it in private markets) and does not pay interest.
Demand for agriculture products such grain including rice, wheat, corn and oats, during the construction of the City of Mount Vema and after, will see the government opening another front to secure a reliable supply of grain.
Mount Vema will need to import initially 250,000 metric tons of a variety of grains, which is expected to cost the government about 125million golles per year. So, concessions are expected to be made to balance expenditures with other sector, as the government works hard to build a diverse economy.
Talks with foreign governments could start as early as next week. Rice could be imported from India, Thailand or the United States where wheat, corn and oats can be imported from. Other exporters to be approached are Australia, Canada, Russia, Brazil, the European Union and Chile.
The government is first looking into imports for most of its grain from the United States, because the USA is one of the few exporters that can supply all the listed grains in a single deal although, it seems unlikely considering how complicated it is to secure reciprocal trade deals, when Mount Vema has only fish and fish related products to trade at present, or facilities such as lease berths that can be used by foreign navies once the City of Mount Vema is completed.
Nevertheless, Mount Vema is already training would be inspectors to examine the quality of grains in many countries before concluding trade deals and begin imports, specially rice from the USA which has a long history of rice production, the bulk of which is grown in Arkansas, California, Louisiana, Mississippi, Missouri and Texas.
Mount Vema has announced today complete departure from its development policy. The Kingdom of Mount Vema has always looked west for help when procuring building materials, equipment even securing future trade deals and recruitment of skilled workers. So far, there is a sense of lack of visionary leadership in the west.
As the city construction deadline looms, the Vema Seamount Authority has begun to look east, where support can be found from more practical and decisive visionary leaders. A statement from the Mount Vema foreign affairs department reads that “…Mount Vema needs to start talking and working with those leaders and countries who are serious pro wealth creators rather than relying on potential trade partners easily influenced by the media or public opinion.
China and Russia have moved to the top of the list as potential trade partners as Mount Vema pushes for deals from currency swaps, to reliable supply of construction material, manpower, equipment, household goods, security equipment, food, medicine and more, to meet its development deadlines.
Maintaining communication channels with Russia is a good thing, according to the Vema Seamount Authority – Peter Goldishman who has today issued an invitation to the President of the Russian Federation Vladimir Putin, to visit the Vema Seamount Territory in 2020.
The Vema Seamount Authority considers that maintaining communication channels with Russia and any other nation of the world is important to maintain the balances of the universe for the preservation of nature and humanity. Any way that you can communicate with people, particularly organizations that are maybe not particularly friendly to you is not a bad thing.
The Vema Seamount Authority not only wanted to use the invitation to open a line of communication between both parties, but also to enable Mount Vema to invite Putin when invitations start to go out to invite leaders to attend the Mount Vema Annual Conference for the state of the Earth and Humanity, to take place in Mount Vema from 2020 at a date still to be announced.
The Vema Seamount Authority – Peter Goldishman has today issued an invitation to Chancellor Angela Merkel, to visit the Vema Seamount Territory in 2020.
The letter states how Mount Vema would greatly appreciate the Chancellor’s effort with regards to a Work Visit, to see and presence the works to be undertaken in the South Atlantic, within the Vema Seamount territorial waters.
A visit from Angela Merkel, would be of great benefit for both parties, especially in terms of trade, and mutual development. According to people close to the monarch, Peter Goldishman felt it appropriate, to issue an official invitation to the Chancellor of Germany to visit the territory, some time in November 2020, to coincide with the visit of many foreign leaders expected to visit the territory late that year.
Peter Goldishman also wanted to use the invitation to open a line of communication between both parties to seek support from Angela Merkel to get more Germany companies involved in the City of Mount Vema project especially in shipbuilding, desalination technology and mechanical engineering.
More than five foreign leaders have been invited so far and more due to be invited throughout the year, as it becomes clear who, is likely to still be in power by 2020. Some foreign leaders have been invited regardless of whether or not they will remain in power by then. According to sources with access to the 2020 VIP guest list, leaders who might not be in power in 2020 but are still invited are many former presidents and prime ministers who have always lent their support to the Vema Semount Authority in public or in private regardless of public option.
His Mount Vema Majesty’s government confirmed today that it is expanding its diplomatic and consular services in more than twelve countries next week Monday to respond to an increasing demand for Mount Vema government contracts overseas.
The Royal Mount Vema Department of Foreign Affairs is reopening services in Lisbon – Portugal, Madrid – Spain, Amsterdam – The Netherlands, - Sao Paulo – Brazil, Berlin – Germany, Cape Town – South Africa, Luanda – Angola, Beijing – China, Washington DC and New York – USA, Moscow – Russia, and Singapore.
The offices will be used as liaison centers to enable Mount Vema Government agencies to purchase a wide range of goods and services from business of all sizes. The offices will promote opportunities and understanding on how to sell to Mount Vema government.
The Vema Seamount Authority - Peter Jon Goldishman has invited Prime Minister Shinzo ABE to visit Mount Vema – The Seamount Territory in 2020, according to people close to the government.
The invitation which was issued today for a work visit, is part of several invitations issued today to a group of world leaders, who will be visiting Mount Vema on different dates later in 2020.
With the creation of the Kingdom of Mount Vema, within the Vema Seamount territorial waters, Peter Goldishman has signalled once more, that the world has a great opportunity to form part of an endeavour with great opportunity for prosperity.
This will not only serve as the Vema Seamount Authority’s official invitation but will also open a line of communication with other countries, as it would be of great benefit for all parties, especially in terms of trade, and common development.
The Vema Seamount Authority - Peter Goldishman has invited the President of the United States Donald Trump to visit the Vema Seamount Territory - Mount Vema. The invitation was issued today for a work visit in December 2020.
His Mount Vema Majesty King Peter Goldishman has with the invitation, reaffirmed his intention to maintain a line of communication with the White House administration for economic purposes, expressing His Mount Vema Majesty’s, desire to maintain fruitful and productive relationship with the United States, to foster agreements to facilitate the import of needed materials, parts, products and services to the Vema Seamount Territory from the United States.
The Vema Seamount Authority, His Mount Vema Majesty King Peter J Goldishman has issued an invitation today for a work visit for King Letsie III of Lesotho to Mount Vema in November 2020.
The invitation issued today is for a working visit, which simply means a foreign head of state can visit the territory and requires no ceremony on the part of the host nation.
The invitation is the second issued by the Vema Seamount Authority this year for 2020, not for a state visit because by 2020, Mount Vema will not be ready for an official or formal visit from a head of state of a foreign country, so it would have significantly less ceremony surrounding it but still needs a significant amount of logistics.
Although the invitation is for a work visit, the Kingdom of Mount Vema intends to establish friendly relations with Lesotho if confirmed, to enable the two counterparts to hold bilateral talks during the visit, discuss trade, and economic development.
The Vema Seamount Authority, His Mount Vema Majesty King Peter J Goldishman has issued an invitation today for a work visit for South African President Cyril Ramaphosa to Mount Vema in early November of 2020.
The invitation is not for a state visit because by 2020, Mount Vema will not be ready for a formal visit from a head of state of a foreign country, to show its intention for a deeply friendly relations between the two nations, which tend to be characterised by extravagant ceremonies.
In 2020, Mount Vema will not be ready for an official visit either, which generally has significantly less ceremony surrounding it but still needs a significant amount of logistics.
What the Vema Seamount has issued today, is an invitation for a working visit, which simply means a foreign head of state can visit the territory and requires no ceremony on the part of the host nation.
If confirmed, the invitation would enable South Africa and Mount Vema to hold bilateral talks during the visit, discuss logistics, trade, and regional security, according to people close to the Monarch.
His Mount Vema Majesty’s Government launched Passport Card to make international travel easier for nationals leaving overseas.
The card comes after intense but highly secrete negotiations between Mount Vema and more than five countries to enable Veman nationals to travel visa free and to facilitate investments from Mount Vema, as the purchasing power of Veman nationals is expected to increase after a positive report on fishery resources.
The Kingdom of Mount Vema is expected to spend more than ₲5 billion Veman golles in the next five years for access to foreign market and at the same time ensure that its passport holders can travel any where in the world free to explore investment opportunities in line with Government policy of poverty reduction through education and job creation.
The Passport Card is now open for applications at a cost of ₲65 Veman golles. Applicants must already hold a Mount Vema Certificate of Citizenship to apply. It’ll allow bearers to travel using it alone anywhere, to all countries added to the list to be updated regularly by the Royal Mount Vema Department of Foreign Affairs.
The Government has dismissed the intelligence memo published last week stating that China seeks to establish a military base in the South Atlantic. "China is a friend" the Government said.
Today His Mount Vema Majesty Government has issued a statement to reassure its Chinese counterparts that there are many nations in Asia such as Singapore, Japan, South Korea, India and China who need to sail the territorial waters for maritime trade that share a common interest with the Kingdom of Mount Vema.
The maritime industry, according to the statement, is welcome to continue to use the trade route via Mount Vema so long as they respect the law of the territory, the same way they would expect Mount Vema to respect the laws of their territories.
The government did not deny the fact that there are illegal fishing vessels wiping out the Vema Seamount marine life, as indicated by RISS, the overseas intelligence agency of Mount Vema, but the government said this is an issue that will be solved through bilateral talks in accordance with the Mount Vema merchant marine and fisheries legislation coming into force next week.
The Vema Seamount Authority – His Mount Vema Majesty King Peter has congratulated Theresa May on her election victory, in a statement published today, highlighting the importance of the promotion of a special and essential relationship between the Kingdom of Mount Vema and the United Kingdom of Great Britain and Northern Ireland, for security and economic development in the South Atlantic.
His Mount Vema Majesty the King also said that Great Britain will always find support in Mount Vema with regards to economic initiatives of mutual benefit, and signaled plans to invite the British Prime Ministers to Mount Vema later in 2021, as the King looks forward to a close cooperation between the two countries.
His Mount Vema Majesty King Peter Goldishman today sent a message to U.S. President Donald Trump to signal his intention to open a line of communication with the new White House administration for economic purposes.
His Mount Vema Majesty the King, expressed his desire to begin a fruitful and productive relationship, to foster agreements to facilitate the export of needed materials, parts, products and services to the South Atlantic in Mount Vema from the United States.
According to people close to the Sovereign, the message states how the understanding would entail benefits to both parties and would tie the U.S. and Mount Vema with significant objectives such as the creation of new jobs, and expand export to Mount Vema from the USA.
The electronic message reads that the Kingdom of Mount Vema, believes that the territory is ready and better positioned for cooperation and sustainable development now than ever before, and that the evolution of the Kingdom of Mount Vema has been decisive in both the start-up phase and the continuity of the construction Project of Mount Vema from an idea to a growing economy with opportunities for the world community, and the U.S. economy.
With the message, His Mount Vema Majesty the King wants to establish a lasting collaboration with the United States, working together to start this new phase in the evolutionary history of the Kingdom of Mount Vema.
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (International Convention for the Prevention of Pollution from Ships)
The Vienna Convention on Diplomatic Relations of 1961
The Vienna Convention on Consular Relations 1963
The Right to Self-Determination
Many believe because our community is not a member of the United Nations and is only just over a decade old, doing business with the Kingdom of Mount Vema is not possible for foreign nationals and foreign companies seeking to take advantage of the business opportunities the floating city project is creating. Nothing could be further from the truth. The territory doesn't need a United Nations membership to function as a sovereign territory, or to exercise its inalienable right for self-determination