Allech-Atreus
15-05-2007, 05:41
Proposal: International Finance Act
Category: Free Trade
Strength: Mild
CONCERNED that the lack of any objective body on the international level dealing with matters of finance and currency engenders corruption and unfairness in international transactions;
BELIEVING that the United Nations, as a global organization, may serve an important adjudicator of fairness in banking, currency exchange, and other monetary matters;
HEREBY CREATES the United Nations International Finance Organization (UNIFO).
A. Duties and Powers of the UNIFO:
1. The UNIFO shall compile, calculate, and publish the currency values of all member states on a frequent, regular basis.
2. The UNIFO shall serve as an observer of and arbitrator for international business. transactions between member states to ensure the pursuance of fair and complete accounting processes.
3. The UNIFO may sanction any member nation which allows unfair business practices to take place on the international level; including but not limited to trade embargoes, and currency sanctions.
4. The UNIFO shall place on all international monetary transactions that have been judged fair and correct a mark indicating that the transaction was a UNIFO-ensured one.
B. Organization of the UNIFO:
1. The UNIFO shall be organized as a body of independent financial professionals, so as to ensure both fairness and comprehension of the financial world
2. The UNIFO shall have a body of arbitration that member states may appeal to for review of cases, transactions, or other financial deals
This was brainstormed late on night as the wind blew and I was tired. I wanted to create something similar to the RL World Bank and IMF, but without the nasty neoliberal politics, but I drew a blank, so instead I came up with an open-ended organization that could serve as an accreditor of financial transactions and currency exchange.
One RL item that spurred this is the current problem with America and China, where China is artificially inflating the yuan against the dollar to gain a trade edge. I don't have a clause in their that specifically deals with this, but am open to suggestions that are reasonably sovreignty-friendly. What I don't want is to say that the UNIFO has control over national currencies.
Comments and constructive criticisms only please. No statements of support.
Category: Free Trade
Strength: Mild
CONCERNED that the lack of any objective body on the international level dealing with matters of finance and currency engenders corruption and unfairness in international transactions;
BELIEVING that the United Nations, as a global organization, may serve an important adjudicator of fairness in banking, currency exchange, and other monetary matters;
HEREBY CREATES the United Nations International Finance Organization (UNIFO).
A. Duties and Powers of the UNIFO:
1. The UNIFO shall compile, calculate, and publish the currency values of all member states on a frequent, regular basis.
2. The UNIFO shall serve as an observer of and arbitrator for international business. transactions between member states to ensure the pursuance of fair and complete accounting processes.
3. The UNIFO may sanction any member nation which allows unfair business practices to take place on the international level; including but not limited to trade embargoes, and currency sanctions.
4. The UNIFO shall place on all international monetary transactions that have been judged fair and correct a mark indicating that the transaction was a UNIFO-ensured one.
B. Organization of the UNIFO:
1. The UNIFO shall be organized as a body of independent financial professionals, so as to ensure both fairness and comprehension of the financial world
2. The UNIFO shall have a body of arbitration that member states may appeal to for review of cases, transactions, or other financial deals
This was brainstormed late on night as the wind blew and I was tired. I wanted to create something similar to the RL World Bank and IMF, but without the nasty neoliberal politics, but I drew a blank, so instead I came up with an open-ended organization that could serve as an accreditor of financial transactions and currency exchange.
One RL item that spurred this is the current problem with America and China, where China is artificially inflating the yuan against the dollar to gain a trade edge. I don't have a clause in their that specifically deals with this, but am open to suggestions that are reasonably sovreignty-friendly. What I don't want is to say that the UNIFO has control over national currencies.
Comments and constructive criticisms only please. No statements of support.