NSG Senate Coffee Shop: 50% off Americanos [NSG Senate]

[The New Sea Territory]

latest draft:

First Amendment to the Financial Act of 2013

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Category: Business and Finance | Urgency: Paramount | Sponsors: Belmaria (LPA)

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Foreword
Aurentina does currently neither have a budget, nor deposits in the National Bank to pay its liabilities, enactable by a CR, with money out of his vaults. The National Bank has not been established yet. It will be lead by a President, who can make short-term decisions, recognizing that "short-term" in financial matters means less than one year effects, on his own decisions.
To limit the President's power, this amendment creates the Governors Council, consisting of 5 Governors, and also defines how exactly the President may be impeached.

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Amendment to Article 1. D.
"The President may be impeached with a simple majority vote in the Senate o.t.A.C.."
New Article 1. E.
"All references to President are related to the President of the National Bank of the Aurentine Commonwealth (President of the N.B.o.t.A.C., President of the National Bank o.t.A.C).
A council of 5 people shall be created under the name "Governors Council of the National Bank of the Aurentine Commonwealth". This council shall consist of 5 Governors, each one appointed by the President of the Aurentine National Bank.
The Governors must swear their independence from the Aurentine government concerning the monetary policy of the National Bank of the Aurentine Commonwealth.
The Governors must develop the short (one month or less), medium (between one month and 4 months) and long-term (more than four months) monetary policy of the National Bank o.t.A.C. together with the President of the N.B.o.t.A.C..
The Governors can overrule short-term measurements of the President of the N.B.o.t.A.C. with a 3/5 vote, medium-term with a 3/4 vote, and long term with a 4/5 vote.
Every Governor may serve infinitive times.
Every Governor is impeachable by the Senate of t.A.C. with a simple majority vote.
No Governor must hold another political office."

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Epilogue
This amendment decreases the power of the President of the N.B.o.t.A.C. and increases control and share of power by founding the Governors Council.

so... which name?

I'll sponsor this. Senator Alexei Tipalov of the LPA.

[Next Washington]

I'll sponsor this. Senator Alexei Tipalov of the LPA.

thanks

First Amendment to the Financial Act of 2013

---

Category: Business and Finance | Urgency: Paramount | Sponsors: Belmaria (LPA), Alexei Tipalov (LPA)

---

Foreword
Aurentina does currently neither have a budget, nor deposits in the National Bank to pay its liabilities, enactable by a CR, with money out of his vaults. The National Bank has not been established yet. It will be lead by a President, who can make short-term decisions, recognizing that "short-term" in financial matters means less than one year effects, on his own decisions.
To limit the President's power, this amendment creates the Governors Council, consisting of 5 Governors, and also defines how exactly the President may be impeached.

---

Amendment to Article 1. D.
"The President may be impeached with a simple majority vote in the Senate o.t.A.C.."
New Article 1. E.
"All references to President are related to the President of the National Bank of the Aurentine Commonwealth (President of the N.B.o.t.A.C., President of the National Bank o.t.A.C).
A council of 5 people shall be created under the name "Governors Council of the National Bank of the Aurentine Commonwealth". This council shall consist of 5 Governors, each one appointed by the President of the Aurentine National Bank.
The Governors must swear their independence from the Aurentine government concerning the monetary policy of the National Bank of the Aurentine Commonwealth.
The Governors must develop the short (one month or less), medium (between one month and 4 months) and long-term (more than four months) monetary policy of the National Bank o.t.A.C. together with the President of the N.B.o.t.A.C..
The Governors can overrule short-term measurements of the President of the N.B.o.t.A.C. with a 3/5 vote, medium-term with a 3/4 vote, and long term with a 4/5 vote.
Every Governor may serve infinitive times.
Every Governor is impeachable by the Senate of t.A.C. with a simple majority vote.
No Governor must hold another political office."

---

Epilogue
This amendment decreases the power of the President of the N.B.o.t.A.C. and increases control and share of power by founding the Governors Council.

[The New Sea Territory]

I'll sponsor this. Senator Alexei Tipalov of the LPA.

thanks

First Amendment to the Financial Act of 2013

---

Category: Business and Finance | Urgency: Paramount | Sponsors: Belmaria (LPA), Alexei Tipalov (LPA)

---

Foreword
Aurentina does currently neither have a budget, nor deposits in the National Bank to pay its liabilities, enactable by a CR, with money out of his vaults. The National Bank has not been established yet. It will be lead by a President, who can make short-term decisions, recognizing that "short-term" in financial matters means less than one year effects, on his own decisions.
To limit the President's power, this amendment creates the Governors Council, consisting of 5 Governors, and also defines how exactly the President may be impeached.

---

Amendment to Article 1. D.
"The President may be impeached with a simple majority vote in the Senate o.t.A.C.."
New Article 1. E.
"All references to President are related to the President of the National Bank of the Aurentine Commonwealth (President of the N.B.o.t.A.C., President of the National Bank o.t.A.C).
A council of 5 people shall be created under the name "Governors Council of the National Bank of the Aurentine Commonwealth". This council shall consist of 5 Governors, each one appointed by the President of the Aurentine National Bank.
The Governors must swear their independence from the Aurentine government concerning the monetary policy of the National Bank of the Aurentine Commonwealth.
The Governors must develop the short (one month or less), medium (between one month and 4 months) and long-term (more than four months) monetary policy of the National Bank o.t.A.C. together with the President of the N.B.o.t.A.C..
The Governors can overrule short-term measurements of the President of the N.B.o.t.A.C. with a 3/5 vote, medium-term with a 3/4 vote, and long term with a 4/5 vote.
Every Governor may serve infinitive times.
Every Governor is impeachable by the Senate of t.A.C. with a simple majority vote.
No Governor must hold another political office."

---

Epilogue
This amendment decreases the power of the President of the N.B.o.t.A.C. and increases control and share of power by founding the Governors Council.

Well, is the NS name required for the bill?

This is my NS account, with Alexei being my senator IC.

[Next Washington]

Well, is the NS name required for the bill?

This is my NS account, with Alexei being my senator IC.

doesn't matter

these posts proof you want to sponsor it, that#s enough

[Next Washington]

one new line:

"Amendment to Article 1. C.
The report must be approved by the National Bank's President and the Governors."

why? because this prohibits "coloured" reports, eg one treasurer says the economic situation is bad because of this coalition, another one says it's good because of his party etc...

First Amendment to the Financial Act of 2013

---

Category: Business and Finance | Urgency: Paramount | Sponsors: Belmaria (LPA), Alexei Tipalov (LPA)

---

Foreword
Aurentina does currently neither have a budget, nor deposits in the National Bank to pay its liabilities, enactable by a CR, with money out of his vaults. The National Bank has not been established yet. It will be lead by a President, who can make short-term decisions, recognizing that "short-term" in financial matters means less than one year effects, on his own decisions.
To limit the President's power, this amendment creates the Governors Council, consisting of 5 Governors, and also defines how exactly the President may be impeached.

---

Amendment to Article 1. C.
The report must be approved by the National Bank's President and the Governors.
Amendment to Article 1. D.
"The President may be impeached with a simple majority vote in the Senate o.t.A.C.."
New Article 1. E.
"All references to President are related to the President of the National Bank of the Aurentine Commonwealth (President of the N.B.o.t.A.C., President of the National Bank o.t.A.C).
A council of 5 people shall be created under the name "Governors Council of the National Bank of the Aurentine Commonwealth". This council shall consist of 5 Governors, each one appointed by the President of the Aurentine National Bank.
The Governors must swear their independence from the Aurentine government concerning the monetary policy of the National Bank of the Aurentine Commonwealth.
The Governors must develop the short (one month or less), medium (between one month and 4 months) and long-term (more than four months) monetary policy of the National Bank o.t.A.C. together with the President of the N.B.o.t.A.C..
The Governors can overrule short-term measurements of the President of the N.B.o.t.A.C. with a 3/5 vote, medium-term with a 3/4 vote, and long term with a 4/5 vote.
Every Governor may serve infinitive times.
Every Governor is impeachable by the Senate of t.A.C. with a simple majority vote.
No Governor must hold another political office."

---

Epilogue
This amendment decreases the power of the President of the N.B.o.t.A.C. and increases control and share of power by founding the Governors Council.

[Macedonian Grand Empire]

I have another thing to be put in.
The National Bank my not fund the goverment deficit via isuing new currency in order to cover it up.

[Next Washington]

I have another thing to be put in.
The National Bank my not fund the goverment deficit via isuing new currency in order to cover it up.

with issuing new currency you mean expand the money supply; or in easier words: print money

no. it funds debt by selling bonds, that's how it increases money supply and get money in

[Macedonian Grand Empire]

If it is not part of the law the NB can do that. If it is prohibeted in the law it can not do that. Beter to be safe then sorry.

[Next Washington]

If it is not part of the law the NB can do that. If it is prohibeted in the law it can not do that. Beter to be safe then sorry.

one of the nb's duties is to uphold the liquidity of the nation

if there's nothing in the vaults, i has to ensure liquidity by selling bonds

and selling and buying bonds is how they regulate money supply... or do you know another way?

[Macedonian Grand Empire]

oh dear god... Have you heard about the way that some nations went into inflation due to printing money in order to cover up their debt? It is called monetarisation of the debt.
In case the goverment is in deficit the central bank would not be allowed to cover that deficit via printing of money. Understand me?
http://en.wikipedia.org/wiki/Monetization this...

[Next Washington]

oh dear god... Have you heard about the way that some nations went into inflation due to printing money in order to cover up their debt? It is called monetarisation of the debt.
In case the goverment is in deficit the central bank would not be allowed to cover that deficit via printing of money. Understand me?
http://en.wikipedia.org/wiki/Monetization this...

printing money and buying and selling bonds is not the same...

if the nb sells bonds, it receives money, so it reduces money supply, but overall amount of money stays the same
if the nb buys bonds, it gives away money, so it increases money supply, but overall amount of money stays the same

if you print money, you inflate and increase money supply, overall amount of money increases

[Macedonian Grand Empire]

In many countries the government has assigned exclusive power to issue or print its national currency to a central bank. The government treasury must pay off government debt either with money it already holds or by financing it by issuing new bonds which are sold to either the public directly or the central bank, in order to raise the funds required to repay bonds that have come due. The central bank may purchase government bonds by conducting an open market purchase, i.e. by increasing the monetary base through the money creation process. If government bonds that have come due are held by the central bank, the central bank will return any funds paid to it back to the treasury. Thus, the treasury may 'borrow' money without needing to repay it. This process of financing government spending is called 'monetizing the debt'

This should not be allowed. Thats why i gave you the link.

[Next Washington]

In many countries the government has assigned exclusive power to issue or print its national currency to a central bank. The government treasury must pay off government debt either with money it already holds or by financing it by issuing new bonds which are sold to either the public directly or the central bank, in order to raise the funds required to repay bonds that have come due. The central bank may purchase government bonds by conducting an open market purchase, i.e. by increasing the monetary base through the money creation process. If government bonds that have come due are held by the central bank, the central bank will return any funds paid to it back to the treasury. Thus, the treasury may 'borrow' money without needing to repay it. This process of financing government spending is called 'monetizing the debt'

This should not be allowed. Thats why i gave you the link.

this is aurentina. in here, the nb cares about the gov money and debt

also, in here the nb buys and sells bonds

you're talking about a rl country, let's stay in aurentina with our laws and their meanings

if you see it in another way, then arguement with our laws, it worked pretty well for my view

[Macedonian Grand Empire]

As a finance person i say that it should be part of the law of aurentina. Othervise expect giant inflation as the goverment would simply print more money.

[Next Washington]

As a finance person i say that it should be part of the law of aurentina. Othervise expect giant inflation as the goverment would simply print more money.

a wise president and governors will not allow that.

[Next Washington]

Sponsors please:

First Amendment to the Financial Act of 2013

---

Category: Business and Finance | Urgency: Paramount | Sponsors: Belmaria (LPA), Alexei Tipalov (LPA)

---

Foreword
Aurentina does currently neither have a budget, nor deposits in the National Bank to pay its liabilities, enactable by a CR, with money out of his vaults. The National Bank has not been established yet. It will be lead by a President, who can make short-term decisions, recognizing that "short-term" in financial matters means less than one year effects, on his own decisions.
To limit the President's power, this amendment creates the Governors Council, consisting of 5 Governors, and also defines how exactly the President may be impeached.

---

Amendment to Article 1. C.
The report must be approved by the National Bank's President and the Governors.
Amendment to Article 1. D.
"The President may be impeached with a simple majority vote in the Senate o.t.A.C.."
New Article 1. E.
"All references to President are related to the President of the National Bank of the Aurentine Commonwealth (President of the N.B.o.t.A.C., President of the National Bank o.t.A.C).
A council of 5 people shall be created under the name "Governors Council of the National Bank of the Aurentine Commonwealth". This council shall consist of 5 Governors, each one appointed by the President of the Aurentine National Bank.
The Governors must swear their independence from the Aurentine government concerning the monetary policy of the National Bank of the Aurentine Commonwealth.
The Governors must develop the short (one month or less), medium (between one month and 4 months) and long-term (more than four months) monetary policy of the National Bank o.t.A.C. together with the President of the N.B.o.t.A.C..
The Governors can overrule short-term measurements of the President of the N.B.o.t.A.C. with a 3/5 vote, medium-term with a 3/5 vote, and long term with a 4/5 vote.
Every Governor may serve infinitive times.
Every Governor is impeachable by the Senate of t.A.C. with a simple majority vote.
No Governor must hold another political office."

---

Epilogue
This amendment decreases the power of the President of the N.B.o.t.A.C. and increases control and share of power by founding the Governors Council.

btw: changed medium-term measurements overruling to 3/5 vote as 3/4 isn't possible with 5 people

[Kalmath]

I will sponsor the First Amendment to the Financial Act of 2013.

[Next Washington]

I will sponsor the First Amendment to the Financial Act of 2013.

First Amendment to the Financial Act of 2013

---

Category: Business and Finance | Urgency: Paramount | Sponsors: Belmaria (LPA), Alexei Tipalov (LPA), Kalmath (Independant)

---

Foreword
Aurentina does currently neither have a budget, nor deposits in the National Bank to pay its liabilities, enactable by a CR, with money out of his vaults. The National Bank has not been established yet. It will be lead by a President, who can make short-term decisions, recognizing that "short-term" in financial matters means less than one year effects, on his own decisions.
To limit the President's power, this amendment creates the Governors Council, consisting of 5 Governors, and also defines how exactly the President may be impeached.

---

Amendment to Article 1. C.
The report must be approved by the National Bank's President and the Governors.
Amendment to Article 1. D.
"The President may be impeached with a simple majority vote in the Senate o.t.A.C.."
New Article 1. E.
"All references to President are related to the President of the National Bank of the Aurentine Commonwealth (President of the N.B.o.t.A.C., President of the National Bank o.t.A.C).
A council of 5 people shall be created under the name "Governors Council of the National Bank of the Aurentine Commonwealth". This council shall consist of 5 Governors, each one appointed by the President of the Aurentine National Bank.
The Governors must swear their independence from the Aurentine government concerning the monetary policy of the National Bank of the Aurentine Commonwealth.
The Governors must develop the short (one month or less), medium (between one month and 4 months) and long-term (more than four months) monetary policy of the National Bank o.t.A.C. together with the President of the N.B.o.t.A.C..
The Governors can overrule short-term measurements of the President of the N.B.o.t.A.C. with a 3/5 vote, medium-term with a 3/5 vote, and long term with a 4/5 vote.
Every Governor may serve infinitive times.
Every Governor is impeachable by the Senate of t.A.C. with a simple majority vote.
No Governor must hold another political office."

---

Epilogue
This amendment decreases the power of the President of the N.B.o.t.A.C. and increases control and share of power by founding the Governors Council.

thanks

anyone else?

[Macedonian Grand Empire]

I will not sponsor the act due to the fact that there are certain weaknesses in it that can push aurentina into a state of inflation and debt.
You put way too much faith in the people at the helm where even in the most liberal sistem there is that provision that will prohibit the printing of money in order to fund the sovering debt. If a goverment manages to put its own people in the board that it for the monetary sistem.

[New Zepuha]

I will not sponsor the act due to the fact that there are certain weaknesses in it that can push aurentina into a state of inflation and debt.
You put way too much faith in the people at the helm where even in the most liberal sistem there is that provision that will prohibit the printing of money in order to fund the sovering debt. If a goverment manages to put its own people in the board that it for the monetary sistem.

I also hear vote buying on the horizon.

[The New Sea Territory]

Feel the need for lower taxes in Aurentina? Are your constituents being stolen from daily? Don't like our current tax formats?

Taxed Enough Already?

^^^Linky....
So, anyone interested in pushing for lower taxes in Aurentina?

[Ainin]

So, anyone interested in pushing for lower taxes in Aurentina?

Nope!

[Neo Rome Republic]

So, anyone interested in pushing for lower taxes in Aurentina?

Nope!

I second this nope.

[The New Sea Territory]

Nope!

I second this nope.

Well, thanks for the response.

[Neo Rome Republic]

I second this nope.

Well, thanks for the response.

Always a pleasure.