So I have been looking into the SKR info that was posted here yesterday. I spoke to several bankers, including my son in law and here is what I learned.* Of the 3 I spoke to today none had ever heard of an SKR.* My son in law was kind enough to include that it may be something done overseas but not here. Here it is just called collateral and is asset based.So there is very little when I googled. I did find this article from the UK that kind of sounds like what was described:
SKR Safe Keeping Receipts
Home » SKR Safe Keeping Receipts
There are very few Safe Keeping Receipt companies that can work with individual and corporate assets as it is limited to Banks and Financial institutions. There is only one group we know of who has issued and secured Safe Keeping Receipts for our clients, which is www.safekeepingreceipts.com. Basically if your company needs funds quickly on an internationalproject, you may be able to cash in your safe keeping receipt or have one issued on the assets of the project.
In several cases where we have been involved with producing Bonds for clients for financing oil projects and emerging market financing, we have used the assets of companies as collateral within a trust. This concept therefore was not foreign to our staff when we began referring clients for a safe keeping receipt. Especially when some of our financial bond holders had created a safe keeping receipt (SKR) for the bonds we actually constructed. Basically by using proof of ownership of valuable assets as collateral, one can get a loan.
However, this proof can sometimes be requested in the form of a receipt from an institution called a SKR.
Your Safe Keeping Receipt can be issued by a bank, depository, or other financial institution (who hold your valuables, securities, commodities, land titles, gems, coins, whatever it may be securely in the institution. This is done without giving up control, its proof of the asset and security of it.)
You enter into a loan, bond, or agreement to monetize the assets via a loan, such as a medium term note, bond, etc. (You remain the owner of the assets unless you default on the loan.)
What types of assets can make SKR’s?
- real estate holdings
- shares, bonds, stocks, or deeds
- mining licenses
- oil ownership
The owner of a SKR may monetize this instrument much like a SBLC, Bond or BG and use these funds as an alternative funding source for projects. Safekeepingreceipts.com SKR’s are issued with an ISIN/SEDOL code and can be verified in the London Stock Exchange – SEDOL screen as well as having the capability of SWIFT Transfers.
The next important aspect is the marketability of the SKR, as their SKR’s are issued with an ISIN/SEDOL code and can be verified in the London Stock Exchange – SEDOL screen as well as having the capability of SWIFT Transfers. Once monetized usually for a term of 1 year and 1 day unless otherwise agreed upon, the safekeeping receipt is then pledge to the monetizing entity.
With these very crucial points in place, monetizing your safekeeping receipt can be a safe transaction because in most circumstances, you don’t move your asset or give up control (as it is held by a Fiduciary in Safekeeping).
In order for you to build a safe keeping receipt, you should contact http://safekeepingreceipts.com/contact-us/ or email firstname.lastname@example.org.
The issuer of the SKR is not the legal owner and therefore, must return the asset to the owner upon request. Who can obtain an SKR? Individuals, corporations, companies, organizations and trusts to name a few. The owner of an SKR may monetize this instrument much like an SBLC, LC, Bond or BG and use these funds as an alternative funding source for projects. Most issued SKR are capable of SWIFT transfers however, some may require an additional MT 760 simultaneous to the transfer of funds in the transaction.
Monetizing and SKR is the process of converting the financial instrument into a legal tender transaction. Depending upon the monetizing bank, certain additional conditions may apply. For instance, is the asset free and clear, meaning; is the title free and clear listed on the SKR? Aside from the validity of the SKR, free title is the single most important aspect of monetizing. The next important aspect is the capability of a SWIFT MT 760. Once monetized usually for a term of 1 year and 1 day unless otherwise agreed upon, the safe keeping receipt is then completed to the originating issuer.
With these very crucial points in place, monetizing your safe keeping receipt can be a safe transaction because in most circumstances, you don’t move your asset or give up control. Any fees associated with monetizing your SKR should be paid out of proceeds and not upfront. For many reasons, you should never make arrangement to SWIFT or transfer your SKR to any one or company without first having a contract in place or knowing the company you are dealing with. Monetizing your SKR can be a solution to alternative conventional financing.
http://guaranteeletter.com/skr/Also the more I try to find ANY real info on this "China taking over the Federal Reserve" rumors the more I believe this is also a crock of shit. Makes NO sense at all unless I am just that uneducated to the ways of big finance to understand this.
So I challenge anyone to please find REAL VERIFIABLE information going forward. Most of us here are having lots of trouble making ends meet, and when this kind of bullshit is posted here it just brings us all down. If anyone can provide real verifiable info on SKR's etc. I would be ever so grateful.