The Transfer Procedure
The minimum hourly rate (mHR) was chosen because as a common denominator it can be found in, or introduced into every national economy. The mHR serves two functions. Firstly, it forms the foundation on which nations can build their economies and secondly, it ensures that even the lowest paid workers in every economy is capable of exchanging one working hours pay for one international WorQour.
The WorQour does not interfere with established rates of pay or with the various levels of financial rewards already existing within a national economy.
Individuals who earn more per hour than the minimum hourly rate earn a correspondingly greater amount of WorQours for every hour they work. Dividing a higher hourly rate of pay by the lower mHR rate will supply the WorQour equivalent of the higher hourly rate.
Everyone from the very bottom rung has access to the WorQour bridging currency and therefore access to the global market.
The Transfer process involves three basic steps:
STEP 1: Departure-Conversion
The concept requires one nation to convert a sum of money, in their own fiat currency, using their predetermined minimum hourly rate (mHR), into WorQours. This involves the process of division.
STEP 2: Transit
The WorQours are then transferred, by a suitable method, over a border to another nation.
STEP 3: Arrival-Conversion
The recipient nation, in turn, using their predetermined minimum hourly rate (mHR), converts the WorQours forward into their own fiat currency. The conversion this time requires the process of multiplication.
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