November 1, 2009
The Sultanate has encountered delays in recovering its cash and gold assets and must appeal to interested parties for assistance with interim funding. Our needs range from a few thousand pesos to support the travel and legal expense necessary to enforce our claims, to as much as P 500 million per week to support our food and medical Caravans to take relief goods to all of our people. These Caravans will assure Peace in our territory and are the bedrock of our recovery program.
Due to the volatility of the Peso and the likely depreciation of the value of the US dollar, we propose to denominate our loans in grams of gold. Our documents indicate that we have several deposits in the stewardship of our neighbor nations totaling several thousands of tones of gold plus some cash so we expect no difficulty in making payment in gold. As soon as possible we will establish an Islamic-style bank to administer this program as well as to provide support to our citizens for infrastructure and rebuilding projects.
We are assured that this program does not violate the rules of riba and is neither a security nor a policy of insurance. Our offer is very simple: We will provide a Promissory Note to the lender payable in grams of gold equal to double the Peso amount of the money received calculated per the published price of gold on the day of receipt. The maturity date of the note is not known but will be no more than 30 days following the date that sufficient of our funds and/or gold are released to our control. Payment will be made via transfer of the ownership of the gold on the books of the bank and can then be taken physically, monetized by the bank, or left on deposit with the bank.
From the point of view of the Lender, this program does several good things: First, it removes the risk of currency fluctuations and/ or devaluations, Second, the price of gold is predicted to rise over time, Third, based upon the very large amount of gold being held for the benefit of the Sultanate, it is far safer than most sovereign guarantees, Fourth, the doubling of the loaned amount is built in, whether it takes weeks or months to materialize, Fifth, Lenders needing large funds for future projects will obviously receive early attention, Sixth, there will be some satisfaction in participating in the success of the Sultanate, and Finally, taking action to assure peace within the Sultanate by supporting the Caravans will be very satisfying.
The mechanics of making a loan to the Sultanate can best be handled via email. Our corporation bank account is in the Philippine National Bank to accommodate wire transfers and the routing numbers are available to Lenders, as are the details of making a payment via PayPal. To speak to me or one of my staff by telephone, you may call 632 838-7921 or cell phone 63921 439-1955. The email address is: Sulatan@sulusultan.com |