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Which monetary standard does your country use?

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Meridiani Planum
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Posts: 5577
Founded: Nov 03, 2006
Capitalizt

Postby Meridiani Planum » Sun Mar 16, 2014 11:17 pm

We have a free banking system in which each bank has its own store of wealth that backs up its currency. The details vary, so there is no single standard, but resources include precious substances such as metals, air, water, and such, and even include some products such as machinery and electrical production.
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Schirmerland
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Founded: Dec 22, 2013
Ex-Nation

Postby Schirmerland » Mon Mar 17, 2014 8:06 am

Schirmerland uses the gold standard
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Potenco
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Founded: Apr 22, 2013
Ex-Nation

Postby Potenco » Tue Mar 18, 2014 5:17 am

As proud adherents of Modern Monetary Theory, our currency is Fiat Money
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Novus Niciae
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Founded: May 15, 2007
Ex-Nation

Postby Novus Niciae » Tue Mar 18, 2014 5:24 am

We have a fiat currency (the credit) we use to purchase luxuries but most of life's essentials are free so there is not much need for money beyond getting luxuries for most citizens.
But we use gold trade coins (1/10 troy oz of 99.999% pure gold per coin) for international trade with nations that insist on a gold standard.
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DarkSith
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Founded: Antiquity
Ex-Nation

Postby DarkSith » Tue Mar 18, 2014 5:47 am

The DarkSithian palpatine is a fiat currency, used only in dealings with foreign nations. It exists only electronically, so anyone claiming to have a coin or note valued in DarkSithian palpatines only has a more or less colourful bit of paper with no real value.

The real currency of the Empire is the workhour, defined as "the average amount of work an average worker can do in one hour". But it's not used outside DarkSith.

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Nexxus Drako
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Founded: Jan 15, 2014
Ex-Nation

Postby Nexxus Drako » Tue Mar 18, 2014 7:17 am

We use cryptocurrency, so the standard is based on cryptographic hashes, hard math and processing power. Think of Bitcoin, Mastercoin, Ethereum, etc.
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Arkiasis
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Founded: Aug 30, 2011
Ex-Nation

Postby Arkiasis » Tue Mar 18, 2014 7:50 am

The Arkiasin Credit is a fiat currency. We got rid of the gold standard during the great depression.
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European Prussia
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Founded: Jul 16, 2012
Ex-Nation

Postby European Prussia » Tue Mar 18, 2014 7:57 am

Monetary Standard:Fiat Money

The currency are regulated by the banks of:-

-The Royal Bank/Der Koeninglich Bank-European Prussia
-Soekarno & Hatta Bank-German Indonesia
-The Java Bank/De Javasche Bank-German Indonesia
-The Financial Bank-Klemantan-Borneo
-The Mint-Klemantan-Borneo

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Land of Steel
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Founded: Dec 18, 2013
Ex-Nation

Postby Land of Steel » Tue Mar 18, 2014 10:35 am

My country's currency is the Lun-Sol which uses the Steel Standard... for obvious reasons.
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Florensica
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Founded: Mar 17, 2014
Ex-Nation

Postby Florensica » Wed Mar 19, 2014 12:48 am

The currency of Florensica is backed by gold and other rare materials.
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Zybex
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Founded: Jan 25, 2014
Ex-Nation

Postby Zybex » Thu Mar 20, 2014 10:59 pm

Zybex is backed by a bimetallic standard of Gold and Silver.
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Oppressed Slaver Union
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Posts: 326
Founded: Jul 06, 2013
Ex-Nation

Postby Oppressed Slaver Union » Fri Mar 21, 2014 12:06 am

Fiat digital currency.
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Senyosu
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Founded: Mar 14, 2014
Ex-Nation

Postby Senyosu » Fri Mar 21, 2014 12:09 am

Fiat digital currency. Got rid of the gold and silver standards since 1978.
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North altlantical waterland
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Posts: 69
Founded: Mar 12, 2014
Ex-Nation

Postby North altlantical waterland » Fri Mar 21, 2014 12:21 am

Our currency is the bitcoin.
We took that one cous just like gold coins the valubility is in its scarsaty only its easyer to carry around a usb stick with a digital wallet than it is to carry around a bag of metal.
Of cours anyone is free to back it up by any marterial they like.

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Postapocolypta
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Founded: Feb 09, 2014
Anarchy

Postby Postapocolypta » Fri Mar 21, 2014 12:38 am

The Barter Chip of Postapocolypta represents actual goods so we use a commodity money system.

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Ermarian
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Posts: 2783
Founded: Jan 11, 2004
Democratic Socialists

Postby Ermarian » Fri Mar 21, 2014 1:29 am

The Imperial Credit is not backed by any value other than the Imperial government's word. If the Empire went belly-up today, it would just be meaningless electronic data. (Since the Empire has been around for well over two millennia, this isn't really a great concern with anyone.)
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Cardaran
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Posts: 22
Founded: Mar 20, 2014
Ex-Nation

Postby Cardaran » Fri Mar 21, 2014 2:30 am

Internally, we have a centrally planned economy with no use for money. In external trade we use a commodity based monetary system pegged to our total production.

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Qorchelia
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Posts: 124
Founded: Apr 24, 2013
Ex-Nation

Postby Qorchelia » Fri Mar 21, 2014 4:41 am

We use digital currency over here in Qorchelia.
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Seaponies
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Posts: 397
Founded: Jan 08, 2012
Ex-Nation

Postby Seaponies » Fri Mar 21, 2014 7:55 pm

Our currency is called the clam, although that's a catch-all phrase for the various kinds of brightly colored shells we use for trade. They range from small pocket-sized ones used for small change on up to giant clams. The latter are too big to carry around, obviously, so we use them like Yap "stone wheel" money. A wealthy Sea Pony who owns a giant clam will put up a sign saying it's hers until she gets around to trading it for something else.

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Breheim
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Posts: 1070
Founded: Sep 20, 2012
Ex-Nation

Postby Breheim » Fri Mar 21, 2014 10:53 pm

Breheim uses a fiat currency, the Krone.

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YellowApple
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Posts: 13821
Founded: Apr 08, 2011
Ex-Nation

Postby YellowApple » Sat Mar 22, 2014 12:19 am

The YellowApple, Inc. Slice is a "cryptocurrency". Unlike some early cryptocurrency designs like Bitcoin and Litecoin which placed a hard cap on the number of "coins" which could be mined, the Slice uses a myriad of complex economic algorithms to adjust the block reward with rates of economic growth (calculated from Slice spending patterns), with no defined maximum number of Slices which can enter circulation. This variable block reward has allowed the Slice to maintain consistent buying power and value over the last two centuries, with minimal deflation or inflation.

While the Slice may be used by any nation (something which the block reward adjustment algorithms are designed to accommodate), it sees little use outside of YellowApplan jurisdiction.

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Gandoor
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Founded: Sep 23, 2008
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Postby Gandoor » Sat Mar 22, 2014 8:53 am

Our currency is fiat currency.
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Michillies
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Founded: Oct 03, 2013
Ex-Nation

Postby Michillies » Sat Mar 22, 2014 8:55 am

The Nuclear Fist wrote:Like any modern state that doesn't have its head up a gilded ass, the Socialist Republic of Rustonia uses a fiat currency.

^ Quite this.
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The Republic of Llamas
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Founded: Dec 15, 2012
Ex-Nation

Postby The Republic of Llamas » Sat Mar 22, 2014 9:00 am

No standard. The gold standard is an obsolete method of backing up currency which is no longer used as it is understood to cause deflation and make conducting monetary policy exceedingly difficult.

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Little Flowers
Bureaucrat
 
Posts: 62
Founded: Antiquity
Capitalizt

Postby Little Flowers » Sat Mar 22, 2014 9:05 am

The Petal

The reasons are obvious, being one of the most stable and highest rated currencies. The high standard is maintained through the latent power of the currency itself (prefabrication).

A brief description.....The petals themselves while alive and just after fallen exude a residue that can be used for a variety of purposes but most importantly as a fuel. It is the rare white petal that exudes the valuable fuel used for trans dimensional travel. The red petals are used for various light/laser purposes. The black are both exceptional absorbents and a highly resistant armor when formed as either a hardened or extremely supple plastique. The blue petals are used as a fragrance and when chemically altered a mind enhancing drug of extraordinary potency. The yellow oil is useful for body lotions and soaps that have a reputation for soft youthful healthy skin. The green petals have one of the finest virgin oil used almost exclusively for fine dining with bread & cheese, wine, fruits, salads and the like.
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