by Sondstead » Mon Jun 09, 2014 9:25 pm
Fartsniffage wrote:Poor analogy. A better one would be a high school american football team approaching a couple of kids quietly reading/writing during lunch hour, telling them to play with them and then stamping on their books/notepads if they refuse.
All with the teacher watching on from the sidelines nodding in approval.
by Oseato » Mon Jun 09, 2014 9:31 pm
by Berry » Tue Jun 10, 2014 6:51 am
by Questers » Tue Jun 10, 2014 8:53 am
by Van Luxemburg » Tue Jun 10, 2014 1:58 pm
by Sondstead » Tue Jun 10, 2014 3:07 pm
Fartsniffage wrote:Poor analogy. A better one would be a high school american football team approaching a couple of kids quietly reading/writing during lunch hour, telling them to play with them and then stamping on their books/notepads if they refuse.
All with the teacher watching on from the sidelines nodding in approval.
by Pollona » Tue Jun 10, 2014 8:16 pm
At 9:00 on Monday, June 9th the CBSE opened to the regular opening bell and resumed normal operating procedure. On Thursday and Friday of the preceding week (June 6th and June 7th), rumors circulated that the QPS, the Questerian Pound Sterling, would be lifted from it's exchange controls and allowed to freely float with all other currencies on the open market. Initial market volatility resulting from this announcement on the previous Friday appeared calmed by several announcements from the Federal Government and the larger Pollonan financial institutions. The PITA, though encountering wild trading swings on Friday June 7th, remained within the CBSE's defined "safe band," and appeared to recover a 2/3rds of its day trading losses.
A meeting of the Board of Governors was held, to discuss the situation. The board agreed that any closure of the markets on Monday would unnecessarily panic the markets in Pollona. By the time the QPS would be allowed to float against the Koruna, federal officials and leading banks would be in a position to buy a large quantity of Pound Sterling in order to prevent a contagion into the domestic market. By unanimous consent, the Board of Governors agreed that the markets should open in Pollona on Monday June 9th as scheduled.
Following the traditional opening bell on Monday June 9th:
- 9:00 - The QPS:PKR peg of 2.826:1 was formally abolished; immediately the QPS depreciated, as predicted, by over 10% to it's black market value. PITA: (+0.03%)
- 9:09 - QPS continues sliding against the Koruna, QPS loses 18% of it's value from the peg.
- 9:33 - Purchase program on the part of the Government and Clearinghouses begins, QPS:PKR starts slowly rising from its nadir price of 4.282:1 , still down 33% since opening. PITA: (-2.08%)
- 9:44 - PITA: (-1.39%)
- 9:54 - Selling-Buying volume of QPS reaches highest point in 3 years. QPS:PKR Exchange rate temporarily stabilized at 3.983:1.
- 10:30 - Volatility in currency market starts heavily and negatively affecting domestic stocks. Board enacts trading curb for 30 minutes. PITA: (-3.62%)
- 11:25 - QPS:PRK jumps upon rumors that multiple nations will commit to buying excess Pounds on the global market.
- 12:33 - Hedge Fund JCMT announces that it is divesting all of it's Questerian Bonds, setting off a panic-sell in Soverign Questerian Bonds denominated in Koruna. PITA: (-5.88%)
- 13:15 - Average Questerian Bond Yields up over 70 basis points in under 1 hour. Word leaks of Questerian Mobilization. QPS:PRK peaks at 3.387:1. Stock market continues slow slide. Trading curb enacted for another 30 minutes.
- 13:57 - Questerian Bond Yields up 160 basis points; QPS:PRK slides to 3.609:1. Emergency Meeting of the Board is called. PITA (PITA -7.61%)
- 14:05 - Board moves unanimously to call for a Trading Halt for the rest of the day. Trading Suspended.
Upon suspending the trading day the Board took into account all financial loses, the PITA lost almost 8% of it's value on June 9th, amounting in very sharp losses in the domestic market. The QPS:PRK exchange rate at 2:05PM (14:05) was calculated to be 3.704:1, representing a devaluation of over 24%. Questerian Bonds are considered highly volatile, with bonds (at least in PKR) averaging up 210 basis points from the beginning of the trading day. Loses on these bonds alone are calculated to be in the millions. The Board unanimously agreed to appoint a special investigative committee to overview trading activities on June 9th, and advise "Pound Supporters" on what to do next.
The Board recorded five divisions. After discussion the Board rejected closing the CBSE for Tuesday June 10th (15-10), but approved a shorter trading session for the day from 9:00-12:00 (18-7), following the shortened trading session the Board agreed to review trading activities for Wednesday, June 11th (21-4). The Board agreed to continue listing both Questerian Sovereign Bonds and the Pound on the CBSE (14-11), but agreed to petition the Pollonan Ratings Agencies to re-evaluate the investment grade of Questerian Bonds and their recommendation regarding the QPS (unanimous).
Hereto Agreed and Recorded on the Above Date.
Peter Kovařík - Governor of the CBSE
by Questers » Thu Jun 12, 2014 8:37 am
by Boaga » Thu Jun 12, 2014 9:33 am
by Hanalia » Thu Jun 12, 2014 3:01 pm
From: PERC Meeting - Prime Minister's Office
Dated: 12 June 2014
Regarding: Regional economic crisis originating in Questers with the flotation of the Questarian Pound on the monetary market
Once again the Primary Emergency Response Committee (PERC) has meet to discuss the effects recent changes the regional economy have impacted upon Hanalia. From it's outset this was likely to have long lasting implications for the Hanalian economy especially with such a fragile import/export market. The PERC will continue to monitor the situation overnight and in the coming days and it to meet again tomorrow morning.
The following is a summary of the events to date.
It has become evident that weak knowledge of international markets lead to Hanalian investors pulling out of foreign, especially Questarian, enterprises with reinvestment in Hanalian companies, heavily inflating our stock market. When it transpired that the import/export market was heavily reduced with many companies reportedly pulling out from international deals.
This caused the rapid decline in Hanalian stock as investors looked for more secure investments due to the lack of business confidence. This has caused a major setback in the government's program. It was the wish of the government to expand trade throughout the region over the coming year to stimulate growth in an already stagnating economy.
This program has been put on hold with its future uncertain in light of recent events and declining business confidence. The market remains volatile and currently appears to be both reactionary and sensitive. There is however already evidence emerging that a recession in the Hanalian economy is likely though severity and length remain uncertain.
by Questers » Sat Jun 14, 2014 5:40 am
by Boaga » Thu Jun 19, 2014 10:01 am
by Nova Sylva » Thu Jun 19, 2014 6:25 pm
by Maachwabia » Thu Jun 19, 2014 10:21 pm
by Oseato » Fri Jun 20, 2014 8:48 am
by Questers » Fri Jun 20, 2014 11:28 am
by Lagunia » Fri Jun 20, 2014 6:06 pm
The following is an intelligence report from the National Intelligence Diretorate in Belograd sent to Lagunian Prime Minister Mihail Josipović
The situation in Questers continues to deteriorate ever since the decision by the Directorate to float the pound according to the fluctuations of the economy. Overnight, everyone (including Lagunians) began dumping these virtually-worthless bonds, with our economy taking a hit as a result. As everyone knows, the Parliament and the Central Bank is still trying to contain the situation (with the Finance Ministry revising its figures). The Questarians however, are suffering with the situation being volatile for the first time since 2001. As a result, there is now a general strike, with troops being mobilized to crush it. It's expected that Gen. Rawlins would make a move against the strikers (and against Ogilvy, who we are to assume has already been shot to death). Once that happens, the strike could easily morph into an insurgency, and posibly a full-fledged civil war, quite like the one we see in Karaman today.
As of now, a sizable portion of the Lagunian Armed Forces (around 300,000 strong) are stationed in bases within 100 km from the Laguno-Questarian border, the rest being dispersed around Lagunia (with 170,000 strong) sent to defend our borders in the Western Andalian Highlands.¹ At the very least, it could take a week or two before the Lagunian military is mobilized to the border, and even more full-scale conscription is enacted). And even then, it would still not be enough if Questers decides to mobilize the reserves. However, a full-scale civil war in Questers could weaken and distract the Questarians from mobilizing against us. So, in order to achieve our goals in Maredoratica, we must move swiftly to ensure that Questers is weakened enough to make our moves (preferably without bloodshed)
Recommended actions:
We therefore recommend that the Prime Minister and the Cabinet make the folowing moves. . .
1) Initiate some small-scale mobilization of portions of our forces across Lagunia into the Questarian border, involving some Army and Air Force divisions in Eastern and Northern Lagunia. The mobilization should involve small units at a time, and secrecy must be maintained so as to not arouse suspicion.
2) Conduct a full-scale disinformation campaign against the Directorate to get the strikers to completely overthrow the Questarian government. If possible, get corrupt members of the Questarian Border Guards to allow consignments of Lagunian weapons to flow into the strikers, and "entice" said strikers to strike against armories to seize their weapons.
3) As of this present, we have dissidents and defectors living in Lagunia. So far, the DIN and the Border Patrol has so far kept the DNSI at bay. We should get them to form a "National Transitional Council" that would serve as a Lagunian-backed "parallel government" that could pave the way to a referendum on annexation to the Federal Republic.
by Questers » Fri Jun 20, 2014 10:31 pm
by Questers » Sat Jun 21, 2014 1:40 am
by Questers » Sat Jun 21, 2014 12:18 pm
by Pollona » Sat Jun 21, 2014 5:00 pm
by Questers » Mon Jun 23, 2014 6:01 am
by Yohannes » Mon Jun 23, 2014 5:59 pm
by Berry » Fri Jun 27, 2014 7:03 am
by Sondstead » Fri Jun 27, 2014 10:12 pm
Fartsniffage wrote:Poor analogy. A better one would be a high school american football team approaching a couple of kids quietly reading/writing during lunch hour, telling them to play with them and then stamping on their books/notepads if they refuse.
All with the teacher watching on from the sidelines nodding in approval.
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