NationStates Jolt Archive

:) Please give me your thoughts on this, for additions or retractions and your general take on this proposal idea. :)

International Currency Standard Act

To create and maintain a new currency creating international economic stability and standard of value recognized by all member nations.

Article I

ADDRESSING that most all nations and regions have a different currency standard and no basis for comparison to determine the value of one country or regions said currency to another.

MANDATING member nations accept and gradually adapt to the use of the new standard monetary unit within the next 6 to 18 months. However not rendering individual member nation’s currency worthless within its own borders.

Article II

PROVISIONS

Section

1. The new system of currency will exist through electronic means, not through any one central bank but through a network of all member nation banks.

2. No paper or coin shall be produced for this undertaking; all funds shall be placed on secure electronic debit cards.

3. The official currency name will be known as the International Credit, (iCred) (iC)

4. The iC system deals with whole numbers only; therefore the lowest denomination of an iC can only be 1. No single unit or group of products can be valued at less than 1 iC.

5. The initial value of the iC and all values henceforth shall be determined by the average economic strength of all UN member nations combined.

6. The iC is allowed to be used by nations outside of the UN to increase its strength in the global markets, however will not be required for non-member nations for use. Non-member nations however will not be determined in the calculation of the economic strength for the iC

7. All citizens of all member nations will be provided with at least one personal account at no out of pocket cost to the citizens themselves.

8. iC accounts will have extensive initial and optional security features.


Sub-Section
a) Initial Features
Part
1. 128-bit encryption on all iC cards.
2. Citizen name stamped into card and coded into magnetic strip.
3. Hologram featuring the UN logo placed on card to detour counterfeits copies.
4. Minimum 8-digit alphanumeric pin code for account access.
5. 4-digit numeric code for purchase access.
6. Manual and automatic deposit.
b) Optional features
Part
1.) Optional features are meant for the use of citizens not the discretion of use by countries to provide, mandate or legislate.
2.) All optional features are free, but left optional to prevent infringement of civil rights laws of individual countries.
3.) Bio-metric thumbprint ID for use to replace pin numbers
4.) Photo ID on cards.
5.) On-line account access.
6.) Up to 3 separate personal accounts.
7.) Up to 4 separate accounts for more than one individual.

9. Use of iC is allowable for use by all ages.

10. Signature of receipts is at the discretion of individual nations.

11. Individual member nations will be still allowed the use of their own currency within
Their own nation alongside the iC, but the determined global value of individual nations currencies will be based on the iC; all business between other nations will be measured in iC. Nations are highly encouraged to adapt their main form of currency to the iC to promote its use and acceptability.

12. Individual abuses, (including but not limited to) theft, money laundering, fraud, etc. will result in a temporary or permanent ban on the use of the iC system at the discretion of the laws per individual nations.

13. Lost or stolen replacement cards are re-issued at the discretion of individual countries banks and or governments.

14. The iC and its uses will not determine the outcome or status of individual bank or government or credit union loan credit ratings.

15. The iC is not intended for use outside of UN member nations.

Too expensive and difficult to implement.

It really wouldn't be all that expensive, it's not that much to produce the cards, a little plastic here and a few computer accounts there and viola you have a new currency. The expenses would be easy enough to cover even by the smallest nations and the economic benifit would be well worth it.

I'm afraid that this proposal, whilst seemingly practical, ignores the disparity between nations when it comes to accessing computer technology. It would certainly benefit high tech nations, but they don't make up the whole world.

If this becomes a proposal, Flanagania will be voting against it.

Illegal. If you recall, all nations are allowed to set their currencies in the settings page. As such, this resolution would require a game mechanics change to force nations to accept the UN standard currency - which is clearly a rules violation.

Edit: actually, on second read, even if it isn't illegal (because your claim that it doesn't replace), it is pointless. There already is an arbitrary monetary unit, the "dollar". Want to see the exchange rate for your nation? nseconomy.thirdgeek.com

Didn't someone propose this recently with a currency called the "Giblet" or somesuch? Why would we want to adopt this in place of our own stable and trusted currency? Besides it's illegal. No support.

This proposal is adherant to the games rules, it isn't advocating or require any change in the games rules or programing. Like all other UN rules it is good legislation for the sake of good legislation. Again for those of you who might need to read this SLOWER, IT DOES NOT ASK NOR REQUIRE A CHANGE IN THE GAME MECHANICS WHATSO EVER. Therefor it is in absolute compliance with the rules. IT IS NOT ILLEGAL. read it carefully, IT IS NOT ILLEGAL. If you take the time to read every line you will see that there is a mutual benefit for all nations involved, and that a change in game mechanics is not needed, the bill will just strongly effect all economys invovled that is all. IT IS NOT ILLEGAL.

Why don't you take this to the moderators and ask them? They'll tell you whether it's a game mechanics infringement or not.

But this would not be arbitrary legislation, because this sets forth guidelines and rules regarding the use of such a system. That is the bulk of this Act, and it deserves to be acknowleged.

Terioamo believes that this resolution will do well. It will make up for the economic collapse that will result from the solar resolution and will help Terioamo's economy recover.

If the game moderators don't have a problem with it neither does our nation.

If you ask exactly how it is a illegal (like, which clauses do what that makes it illegal), you can look at those points and see if it is even possible to fix it. Regardless, I still stand by the currency standard already existing - which, again, you can find on nseconomy.thirdgeek.com.

So in that case I could just reword my act so that it doesn't pertain to the actual creation of a standarized currency but to create a standard for an International Electronic Funds network and establish the rules on international fund trading and how the network applies to individual citizens.

So in that case I could just reword my act so that it doesn't pertain to the actual creation of a standarized currency but to create a standard for an International Electronic Funds network and establish the rules on international fund trading and how the network applies to individual citizens.

Now THAT might be (probably is) legal. I still encourage you to look at nseconomy so you know what has already been put in place (though writing resolutions that pretty much do what the mechanics have already constructed seems to have already been done before so....), but I would love to see this proposal.