The eccentric Youcef Aden (Mohamed Youcef Ihaddaden)who until recently publicly introduced himself as Ambassador, Minister of the Treasury, Minister of Foreign Affairs and Director of the Financial Police Agency of the Nation of Hawaii.During his virtual term of office (2021-2024), he has left behind a list of “acts of government”. that are striking to say the least: since the creation of the a fictitious national bankthe creation of a digital currency called “Nation of Hawaii Dollar” (NoH Dollar or NHD) and an NFT supposedly backed by physical gold.The “Chambers of Commerce Law” was enacted to supposedly regulate sectors such as tourism, agriculture and financial technology.
As advanced by La Voz de Ibiza, the Nation of Hawaii that Aden claimed to diplomatically represent before his wanderings were revealed is actually a sort of reservation for indigenous people in which 80 people live and which competes with other organizations in the struggle for the independence of Hawaii from the United States. Aden has publicly promoted his credentials throughout the island. At the entrance to his rented office on Carlos III Street in Ibiza can be found the plaques on which he displayed his multiple political positions for an organization that advocates for Hawaii’s independence from the United States, but which is not recognized as a nation state by the international community. In recent hours, La Voz de Ibiza has learned that these plates were edited with the prefix “-ex”, implying that he is no longer part of the structure. However, he does maintain his position as director of Kapital Banque, a company created years ago that, among other services, has been designated (by himself) as the entity that provides infrastructure and support to the economic laws of the alleged “Nation of Hawaii”.
A fictitious central bank
Among Aden’s most ambitious projects is the creation of the “Nation of Hawai’i Bank”, established by the self-proclaimed“Nation of Hawai’i Bank Act”. According to the document, which can be found on his official website, this fictitious bank would be responsible for “regulating credit and digital currency” and supposedly operated under a joint structure with a private entity, Kapital Banque (his company), which would retain 50% of the shares until the “Nation of Hawai’i” could acquire them. According to the text of the “law”, this bank would have the ability to:
- Issue digital currency called NoH Dollar (NHD).
- Buy and sell precious metals such as gold and silver.
- Perform international financial transactions.
However, as has been mentioned in other articles in this medium, Hawaii has been a state of the United States since 1959, which invalidates any claim of sovereignty. Furthermore, the said bank is not listed in any official registry nor is it recognized by international financial institutions.
Gold-backed digital currency
The so-called “Hawai’i Digital Currency Act” introduces the NoH Dollar as a digital currency backed by a blockchain system also managed by Kapital Banque.
In addition, another initiative known as the Digital Collectible Gold Coin Act establishes an NFT (cryptocurrency) backed by physical gold, supposedly stored on bank premises.
An excerpt from the document states: “The value of the Digital Collectible Gold Coin is linked to the London Gold Fix by the LBMA, in addition to its value as an NFT.” This level of complexity in a financial system is unsupported in a non-existent nation and lacks independent verification, raising serious questions about its legitimacy.
Chambers of commerce for a ghost economy?
Another Aden measure was the enactment of the Chambers of Commerce Act, designed to regulate sectors such as tourism, agriculture, and financial technology in alleged provinces of Hawaii.
These chambers would be under the direct control of the also supposed ministries of Commerce, Foreign Affairs and Treasury. According to the law: “Each Chamber of Commerce will aim to improve business efficiency and act as an arbitrator in commercial disputes”.
This media has not been able to find evidence of the existence of provinces or municipalities under the “Nation of Hawaii”, nor evidence that any of these chambers have actually operated.
The documents referred to in this article can be found on Aden’s website in a section called “Acts of Law”. Each of them is written with a level of detail that assimilates them to the structure of laws and regulations of a government, and bear his signature.
The diplomatic phaso has declined to give his version to La Voz de Ibiza.
