Post by Brittalia on Jun 10, 2018 21:13:27 GMT -5
Bank Establishment Act 2016
Proposed by: The Noble Thatcherites
Section I: Provisions
REALIZING that our region has sustained a stable economy, but demands that a centralized bank is established.
NOTING that politics can not play a role in the bank. And therefore the bank can not be controlled by politicians.
DEFINING a regional bank as an independent nation created by the founder and controlled by him and whoever he or she appoints to manage the bank. And this appointee must be appointed a senior position in the cabinet of the Prime Minister. To guide and advise the Prime Minister on economic issues, but not to take orders or advice from the Prime Minister
DECLARES that a regional bank
- Has the power to set the mandatory exchange rate of all currencies to the regional currency.
- Has the power to inflate, and deflate the regional currency whenever seen necessary.
- Has the power to approve or disapprove all transfers, trades, or any other public debts exchanged, that pass through the bank, and anywhere else, regarding the safety of the economic spirit of the Union.
- Has the power to close down trade whenever seen necessary to preserve the region's economy.
- Has the power to issue bank accounts to all nations in the Union, and outside the Union. All nations inside the Union will automatically have a bank account, after the passage of this bill. But any foreign nations seeking a bank account here, must file an application, and get special approval from the bank. The bank also has the power to deny a nation a bank account. A record of all accounts domestic and foreign must be recorded on a factbook pinned to the region.
- Must become a factor regarding role-play scenarios. And as a factor, “RP’s” must use the set regional currency, and any other policy of the bank.
- Must set a factbook regarding a guide to the bank's infrastructure and trade policies, and rules regarding transfers.
[/ul]HEREBY REQUIRES the establishment of a regional currency known as “The United Mark” or “Mark” for short. And the establishment of a lower currency worth a hundredth of “The Mark”, known as “The United Credit” or “Credit” for short.
HEREBY AUTHORIZES the establishment of an independent regional bank. A bank that will work to serve the people of the region, to protect the economic needs of the region, and to expand our economic power throughout the world.