GATA Washington Conference – Speech by James Turk from Chris Powell on Vimeo.

AFE Bailment Process

A “Bailment” describes a legal relationship in common law where physical possession of personal property (chattels) is transferred from one person (the ‘bailor’) to another person (the ‘bailee’) who acts as a custodian of the property.

Bailment is distinguished from a contract of sale or a gift of property, as it only involves the transfer of possession and not its ownership.

This is important, as you remain the sole legal owner of your gold and silver, while AFE is only your custodian.

AN EXAMPLE OF THE BAILMENT PROCESS

When clients of AFE order gold or silver bars that exceed treasury bar availability, new bars are ordered from one of several LBMA certified refineries.

The bars are then poured, certified, and transported to the secure vaulting facilities by certified armored carrier and fully insured for the full market value while in transit.

Once the metal is unloaded from the armored trucks, the individual bars are sight inspected and verified against a “weight list” of bars from the refinery by a third party auditor, a representative of AFE, and a representative of the vault.

The reports from this sight inspection as well as deposit receipts from the vault are made available to the Independent Signatory Trustee for verification against the records of AFE and accounts of AFE clients.

By governance contract, no metal can be removed from the vault without the signature of the Independent Signatory Trustee, the presence of the duly appointed third party auditor, and a representative of the vault.

For more info and pics of the process, see their web site here: http://www.anglofareast.com/bullion-accounts/governance/

There is also a great AFE interview in the February 2009 issue of DGCmagazine (below).

The Winged Lion Awards are in honour of the ‘Winged Lion’ – which is the historical symbol of usuryfree money. The Winged Lion Awards are presented to the winners from the nominated usuryfree creatives on behalf of the UsuryFree Network during the Annual UsuryFree Week scheduled from November 13th, until November 19th, each year.

Nominations are commonly accepted from local, national and international usuryfree creatives.

The winners of the Winged Lion Awards are honoured at a special event each year during the celebration of UsuryFree Week.

Nominations are currently open for the following 15 categories:

1. A community that has launched new paper notes of usuryfree community currency during the current year. This community must have done something unique for their launch of paper notes of usuryfree community currency. Samples of the paper notes and details of this unique activity must be submitted with the nomination.

2. An individual usuryfree creative who has authored a unique article about the design flaw of usury during the current year. A copy of the article must be submitted with the nomination.

3. An individual usuryfree creative who has authored a unique article about the usuryfree community currency movement during the current year. A copy of the article must be submitted with the nomination.

4. An individual usuryfree creative who has authored a noteworthy quote about usuryfree living during the current year. A copy of the quote must be submitted with the nomination.

5. A newspaper or magazine that has published at least one article about the usuryfree community currency movement during the current year. A copy of the newspaper or magazine containing the article must be submitted with the nomination.

6. An individual usuryfree creative who has traded for more than $1000.00 worth of any usuryfree community currency or any combination of two or more usuryfree community currencies during the current year. Proof of amount of trading must be submitted with the nomination.

7. An internet company that is facilitating the completion of an online database of usuryfree creatives who are committed to advancing the mission of connecting the various usuryfree community currency groups – locally, nationally and internationally. Details of the project must be submitted with the nomination.

8. An individual usuryfree creative who is dedicated to the political application of usuryfree living at any level of politics – municipal, provincial/state or federal. Details of the political activity must be submitted with the nomination.

9. An individual usuryfree creative who has produced a DVD or video during the current year wherein the problems of usury and/or the solutions as offered by the usuryfree community currency movement are presented. A copy of the DVD must be submitted with the nomination.

10. An individual musician or a musical group that has written a song about usury-based economics or usuryfree economics during the current year. A copy of the song must be submitted with the nomination.

11. A duly registered political party that officially endorses the usuryfree community currency movement. Proof in writing from the duly registered political party must be submitted with the nomination. This duly registered political party may be provincial/state or federal.

12. An individual or group of usuryfree creatives who has/have planned and hosted a usuryfree community currency conference during the current year. A copy of the schedule of events for the conference complete with the location and date must be submitted with the nomination.

13. A charitable foundation/organization that openly supports the usuryfree community currency movement. Details of how this particular foundation/organization supports the usuryfree community currency movement must be submitted with the nomination.

14. A member of the clergy (from any denomination) who is actively speaking outagainst the design flaw of usury and its eveil effects on individuals and on society. Proof of his/her usuryfree mission must be submitted with the nomination.

15. An individual usuryfree creative who incessantly seeks justice in matters relating to taxes and usury in their JUST-US system of commerce where it is enforced by their judges. Details of how justice is sought by this individual usuryfree creative must be submitted with the nomination.

NOTE: Readers are invited to suggest additional categories that could be considered for a nomination for a Winged Lion Award. Send your suggestion to the The UsuryFree Network at the address below.

All nominations must be submitted in writing. All nominations must be signed by the nominee and the seconder and mailed to: The UsuryFree Network, P. O. Box 9333, Ottawa, Ontario K1G 3V1

All nominations for the Winged Lion Awards must be postmarked on or before November 1st, of the current year.

Definitions:
UsuryFree Creative: ‘One who is dedicated to living a usuryfree lifestyle.’
UsuryFree Network: ‘A private network of usuryfree creatives who are actively promoting the usuryfree lifestyle.’
Winged Lion: ‘The historical symbol of usuryfree money is re-born and is printed on various paper notes of usuryfree community currency in this 21st Century.’

For more information about the “Fifth Annual UsuryFree Day and Week” visit The UsuryFree Eye Opener regularly:
http://usuryfree.blogspot.com