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INTERNET CATALOGUE CLUB ADVISORY
March 11, 2015
In 1996 the INTERNET CATALOGUE CLUB introduced ZCASH for use by CLUB MEMBERS in exchanges within
the CLUB, with any such exchanges accruing added-value no-cost “GOLD DEBIT” coupons.
In 1999 the CLUB replaced GOLD DEBIT coupons with “Commercial High Increase Protection Savings
Points” or “CHIPS”.
In 2006 the CLUB became aware that the U.S. SEC might seek to have ZCASH and CHIPS classified as
“securities”.
Because ZCASH, when acquired and when used, would cause accrual of CHIPS at no additional cost to the
MEMBER acquiring or using the ZCASH, the CLUB determined that, using the argument that accrual of
CHIPS would constitute a “profit”, the U.S. SEC might prevail in having a purchase of ZCASH deemed to be
an “investment” and, thus, the CLUB ceased offering to issue ZCASH in exchange for any sovereign
currency.
At that time the CLUB also limited the right to acquire any items through the CLUB to one MEMBER of the
CLUB; that is, from that time forth the CLUB has only allowed INCREDIBLE CONCEPTS INTERESTS
(BAHAMAS) LTD, aka ICIB, to transact business within the CLUB; that is, all other MEMBERS may only
transact business with ICIB.
This restriction, along with the methodology that a MEMBER might use to do business with ICIB and have
ICIB transact business related to them through or with the CLUB, was embodied in the TERMS AND
CONDITIONS published by the CLUB.
Thus, the issuing of ZCASH and CHIPS by the CLUB has for many years now been limited to business
transacted between ICIB and the CLUB, as per rules, regulations, and laws to which the CLUB and ICIB may
be subject within their respective jurisdictions.
Furthermore, at the same time, in 2006, the CLUB introduced the concept of TICKETS.
TICKETS are used in the same fashion as those historically used in Fairs and Amusement Parks in many
locations around the world. That is, a party attending a Fair or visiting an Amusement Park must buy
TICKETS and use these internal to the Fair or Amusement Park to exchange for services or goods; and,
similarly, ICIB must acquire TICKETS to use to exchange for items within the framework of the CLUB.
To acquire TICKETS, ICIB (and only ICIB) may use a variety of sovereign currencies, financial instruments,
and “virtual currencies”, as depicted in http://www.ntcprocurement.com/contents/en-us/d90.html
Since 2006 until recently, a MEMBER wishing to have ICIB transact CLUB business on behalf of the
MEMBER would use sovereign currencies, financial instruments, and “virtual currencies” acceptable to
ICIB to acquire CHIPS from ICIB. ICIB would then transact CLUB business and, afterwards, allow the
MEMBER to use CHIPS previously acquired to exchange the CHIPS for the results obtained by ICIB through
the CLUB business.
With the new definitions and controls evolving in jurisdictions around the world related to “virtual
currency” it became apparent that further restrictions on the use of ZCASH and CHIPS would have to be
implemented, and also of TICKETS (as used within the CLUB), to avoid regulatory conflicts that might arise.
Therefore, a new restriction has been added to TERMS AND CONDITIONS when a MEMBER undertakes
business with ICIB wherein ICIB may engage in business related to the CLUB.
Specifically, MEMBERS are no longer allowed to acquire CHIPS from ICIB. Rather, now, MEMBERS wishing
to acquire CHIPS must acquire physical products selected by ICIB and provide the products to ICIB in
exchange for ICIB providing CHIPS to the MEMBERS. ICIB may then proceed to do business within the
CLUB and acquire items selected by the MEMBERS, providing these items to the MEMBERS in exchange
for CHIPS.
Similarly, if a MEMBER has ZCASH or CHIPS in an account with the CLUB, to transfer these to other
accounts the MEMBER must undertake a purchase and resell of a physical product.
A list of physical products that may be used as indicated above may be reviewed in
http://www.employeegold.info/contents/en-us/d30.html
In short, the INTERNET CATALOGUE CLUB does not engage in currency exchanges, but does all business
through the buying and selling of physical products.
Additionally, when issuing TICKETS, ZCASH, or CHIPS, the CLUB does so only within its own jurisdiction and
for use only internal to the CLUB.
If a MEMBER undertakes to use TICKETS, ZCASH or CHIPS in business external to the CLUB, that MEMBER
is responsible to abide by and conform to regulations and laws that might be related thereto in the
jurisdictions in which the MEMBER is operating.
Recognizing the difficulties this might impose on MEMBERS, certain MEMBERS of the CLUB have formed
new corporations to provide services to MEMBERS that may wish to use ZCASH and CHIPS as the
foundation for business outside the confines of the INTERNET CATALOGUE CLUB.
Although these service firms, other than having MEMBERSHIPS in the CLUB, operate independently from
the CLUB, they all seem to follow a similar pattern in their operations.
That is, if MEMBERS wish to do business outside of the CLUB, they may purchase physical products that
the MEMBER may acquire through ICIB and then resell these products to a firm that issues PROMISSORY
NOTES by that firm providing the NOTES as payment to the MEMBERS.
The PROMISSORY NOTES are collateralized by ZCASH held on deposit in a CLUB account owned by the
issuer of the NOTES and may be immediately collected by transfer of ZCASH to a new account that may
be established at the request of a Lawful Beneficiary of a NOTE. That is, the ZCASH account held by the
issuer of a NOTE is to be treated as property and the new account with ZCASH would also be property,
with the transfer of property being similar to the transferal of ownership of real estate as the means of
paying or collecting a debt.
However, such PROMISSORY NOTES offer an alternative mode of collection. That is, a Lawful Beneficiary
may request that the issuer provide DOCUMENTARY FUNDS collateralized by USD value deposited with
financial institutions, which DOCUMENTARY FUNDS would be used in financial trading by licensed
professionals to create profits with which the NOTES may be redeemed.
This stratagem, totally external to the CLUB and not controlled or regulated by the CLUB, is designed to
allow for ZCASH to be used as it has been since its inception, as property, by using the ZCASH accounts
instead of the ZCASH itself as collateral for the NOTES.
The stratagem also allows for the NOTES themselves to be used in business exchanges, and be collected
only when a Lawful Beneficiary so determines, in whatever mode of currency the Lawful Beneficiary may
choose.
Because the NOTES provide the availability of DOCUMENTARY FUNDS, which may be of much greater
import than the face amounts of the NOTES, which DOCUMENTARY FUNDS would be collateralized by
sovereign currency value deposits within financial institutions, the NOTES are designed to provide a
pathway for MEMBERS to be able to use their CLUB assets within the regulatory framework of any and all
jurisdictions without having to submit the CLUB assets themselves to said regulations.
However, it is up to MEMBERS and to the issuers of the PROMISSORY NOTES to assure that they are in
compliance with jurisdictional rules, regulations, and laws, as the CLUB is only responsible for adhering to
such within its own sphere of business with ICIB.
For more information, contact an ICIB WORK CENTER; to be assigned a CENTER send an email to
[email protected]