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What backs your nation's currency?

A place to put national factbooks, embassy exchanges, and other information regarding the nations of the world. [In character]

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What backs your nation's currency?

1) A reserve of precious metals (gold, silver, etc.).
57
29%
2) The good faith and credit of my nation (fiat currency).
86
44%
3) The value of my nation's currency is pegged or linked to another nation's currency.
4
2%
4) My nation has adopted the currency of another nation as it's official currency.
2
1%
5) My nation does not have a currency (barter system, communist-style distribution system, non-transferable credit system, etc.).
10
5%
6) My nation allows private money, including cybercurrencies, and has no official national currency.
10
5%
7) Other (please explain).
28
14%
 
Total votes : 197

User avatar
Ermarian
Minister
 
Posts: 2774
Founded: Jan 11, 2004
New York Times Democracy

Postby Ermarian » Fri Aug 30, 2019 11:21 am

A vague mix of fiat and no-money-at-all. Precious metals were phased out and gradually replaced by backed credit notes in the early eleventh century, which were in turn replaced by a fiat currency in the late thirteenth; the imperial standard. This currency has been entirely digital for over two centuries by now, with no fixed physical representation. In the current post-scarcity economy, though, few things are still bought with it. Available energy far outstrips demand (for now) and nano-fabrication has made virtually everything cheap to produce, to the point of most consumer products being distributed for free as a public service. The few things still bought with money are services and things made by humans.
Last edited by Ermarian on Tue Sep 03, 2019 6:56 am, edited 1 time in total.
The Endless Empire of Ermarian | Jolt Archives | Encyclopedia Ermariana | ( -6.38 | -8.56 ) | Luna is best pony.
"Without deeper reflection one knows from daily life that one exists for other people - first of all for those upon whose smiles and well-being our own happiness is wholly dependent, and then for the many, unknown to us, to whose destinies we are bound by the ties of sympathy." -Einstein
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User avatar
Sentient Bees
Lobbyist
 
Posts: 14
Founded: Jan 25, 2019
Ex-Nation

Postby Sentient Bees » Fri Aug 30, 2019 4:50 pm

Our currenzy iz the honey that we eat to zurvive

There iz no need to back it by anything, az it iz already a commodity
*Buzz* *Buzz*
---------------------------------------------------------------------------------------------------------------------------------------------------------------------
Please check out my other nation

User avatar
The Wasatch
Diplomat
 
Posts: 801
Founded: Aug 25, 2019
Ex-Nation

Postby The Wasatch » Fri Aug 30, 2019 4:55 pm

Backed by fiat, but our economy is so poor, it might as well be nonexistent.
Pretty much Lawful Neutral. Maybe Lawful Good.

User avatar
Ecofasciste Archipel
Secretary
 
Posts: 39
Founded: Aug 25, 2019
Ex-Nation

Postby Ecofasciste Archipel » Fri Aug 30, 2019 6:11 pm

We use Fiat Currency, and need no other backing!

User avatar
Hatterleigh
Ambassador
 
Posts: 1145
Founded: Sep 07, 2016
Inoffensive Centrist Democracy

Postby Hatterleigh » Fri Aug 30, 2019 6:47 pm

Gold.
✦ ✦ ✦ The Free Domain of Hatterleigh ✦ ✦ ✦
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Overview of Hatterleigh | William Botrum, Hatterleigh's President | Hatterlese Embassy Program | I don't use NS stats.
MATH IS REAL

User avatar
Narland
Ambassador
 
Posts: 1143
Founded: Apr 19, 2013
Anarchy

Postby Narland » Fri Aug 30, 2019 8:12 pm

The Commonwealth of Narland uses Gold and Silver Certificates denominated separately and free floating. Most stores have two prices, one in gold and the second in silver. The commonwealth is currently experimenting with the Narbit blockchain cryptocurrency. Member States and Cantons may issue their own currency based on 100% reserve of any commodity pursuant to law, as may businesses, simple corporations, and individuals. All free to compete in the marketplace.

The Heatherbrook Commons Bobco Big-Box-Mart has a whopping 8 currencies on their price tags --

1. Commonwealth Gold,
2. Commonwealth Silver,
3. the Narbit (sponsored crypto-currency)
4. Heaherbrook Electrum (40% platinum, 30% gold, 20% silver, 10% copper coinage)
5. Liberty Mint Narlandic LIber (75% Gold, 20% Silver, 5% Copper coinage) at discounted value.
6. Caesar Aluminum Consortium's Plink (Gold Certificates) at discounted value.
7. Johnny Tomorrow's Electro-dollar of the Future (crypto currency) at discounted value. (Johnny Tomorrow is a mint with its own retro-future retail store chain much like a boffinized Hot Topic)
8. Hollegeboren Mark (99.997% gold certificates) at discounted value. (Hollegeboren is the worlds largest global supplier of petroleum based medicinals).
Last edited by Narland on Fri Aug 30, 2019 8:21 pm, edited 2 times in total.

User avatar
Red Timor
Political Columnist
 
Posts: 3
Founded: Sep 01, 2019
Ex-Nation

Postby Red Timor » Tue Sep 03, 2019 6:29 am

Devices of capital accumulation and other signifiers, such as currencies, were thoroughly destroyed following the communist seizure of authority. The novel revolutionary government called for the complete liquidation of banks and other concentrations of capital. There is no officially established currency, and the role which it fulfills has been replaced in favour of a decentralised system of resource distribution.
Agrarian socialist state under the transitional governance of a revolutionary vamguard movement // Current year: 2026

User avatar
Berhakonia
Envoy
 
Posts: 252
Founded: Apr 03, 2018
Capitalist Paradise

Postby Berhakonia » Tue Sep 03, 2019 6:33 am

Berhakli currency is linked to two stores of gold and silver. Each unit of currency acts as a certificate that can be exchanged for a portion of either precious metal
A federation of kingdoms, united by the Imperial Throne of Stannismarck
The only competent ruler is he who serves his people, honors them like the Saints in heaven, and devotes his life to God alone.
-Emperor Janius XIV Chrysostom, Son of Axeres VII
Monarchist, Future Tech, Space Travel
Supports:
Eastern Orthodox Theocracy, Absolute Monarchism, Ecological Sustainability


Against:
Secularism, Democracy, Heresy and Schism

User avatar
Memeluks
Civilian
 
Posts: 1
Founded: Sep 03, 2019
Iron Fist Consumerists

Postby Memeluks » Tue Sep 03, 2019 1:33 pm

The richness of the coffers in Cairo. Oh, and slave soldiers!

User avatar
UniversalCommons
Senator
 
Posts: 3856
Founded: Jan 24, 2016
Left-Leaning College State

Postby UniversalCommons » Tue Sep 03, 2019 1:43 pm

The bitwatt is backed by computer processing and stored energy.
Last edited by UniversalCommons on Tue Sep 03, 2019 1:44 pm, edited 1 time in total.

User avatar
New Periapsis
Spokesperson
 
Posts: 148
Founded: Sep 13, 2018
Left-wing Utopia

Postby New Periapsis » Tue Sep 03, 2019 1:46 pm

Our credit system is backed by labor hours and the value of goods produced.

User avatar
Bagong Luzon
Spokesperson
 
Posts: 116
Founded: Jan 30, 2018
Iron Fist Consumerists

Postby Bagong Luzon » Wed Sep 04, 2019 1:20 am

The New Philippine Peso is backed by the good faith and credit of the Kingdom, and has been since the establishment of the antebellum Central Bank of the Philippines--known now as the Royal Philippine Bank--in 1949.
Puppet of the New Visayan Islands, typically used for fluff purposes.

Naturally, this does not represent my actual beliefs.

User avatar
Zeritae
Chargé d'Affaires
 
Posts: 424
Founded: Jun 10, 2017
Inoffensive Centrist Democracy

Postby Zeritae » Wed Sep 04, 2019 1:25 am

The zeritan Derndis is a fiat currency.
1N$ = 1.20D!
1.20N$=1.44D!
The United Republic of Zeritae
Social-Democratic asymmetrical federation with good forests and bad factbooks. Not Azania nor Aeritai.
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Become enlightened through sex.

User avatar
New Visayan Islands
Forum Moderator
 
Posts: 3275
Founded: Jan 31, 2017
Inoffensive Centrist Democracy

Postby New Visayan Islands » Fri Sep 06, 2019 10:21 am

The legal definition of the New Visayan Peseta under the Coinage Act of 1989 is an amount equivalent to 12.9 grains of gold 0.900 fine (0.026875 XAU).
Joined the ranks of Moderation in the wee hours of the morning of September 19th, AD 2020.

Embassy program of the NVI
Time zone: GMT+8
For details on the man behind NVI, click here.

User avatar
ImperialRussia
Envoy
 
Posts: 305
Founded: May 16, 2019
Iron Fist Consumerists

Postby ImperialRussia » Sun Jan 12, 2020 7:11 pm

Chip scans to avoid forgery.

User avatar
Duskuarhiel
Lobbyist
 
Posts: 16
Founded: Jan 01, 2020
Ex-Nation

Postby Duskuarhiel » Sun Jan 12, 2020 11:04 pm

we're currently on fiat currency but we're about to switch to silver standard as we have the silver stocks to back it

User avatar
Aryax
Bureaucrat
 
Posts: 43
Founded: Oct 16, 2019
Psychotic Dictatorship

Postby Aryax » Mon Jan 13, 2020 10:45 am

The value of the Aryaxian unit is fixed and set through political decision, instead of market value.
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People's Republic of Aryax
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Ⰰⱃⱑⰽⱄⰰⱑ Ⱀⰰⱃⱁⰴⱀⰰⱑ Ⱃⰵⱄⱂⱆⰱⰾⰹⰽⰰ
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Aryaksaya Narodnaya Ryespublika
This nation does not represent my views.

User avatar
Bykhia
Civil Servant
 
Posts: 8
Founded: Dec 09, 2019
Ex-Nation

Postby Bykhia » Mon Jan 13, 2020 4:25 pm

The Bykhian arybl, the country's unofficial currency, is pegged to the Russian ruble.
BYKHIA!
"The nicest little disputed area in the world!"

User avatar
Minoa
Senator
 
Posts: 4660
Founded: Oct 05, 2011
Civil Rights Lovefest

Postby Minoa » Tue Jan 14, 2020 6:24 am

The value of the Minoan tala floats on a combination of supply and demand in the open market, and precious metals. It is a free-floating currency with reserves as the fallback.
Mme A. d'Oiseau, B.A. (State of Minoa)

User avatar
Rainbowsix
Diplomat
 
Posts: 745
Founded: Nov 27, 2018
Ex-Nation

Postby Rainbowsix » Tue Jan 14, 2020 6:26 am

we have this thing called r6 credits
This nation doesn't represent my views... this nation represents what I imagine the game Rainbow Six Siege would be like if made into a country
Freedom is never free, so remember those who died for it
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User avatar
Dathiri
Civil Servant
 
Posts: 6
Founded: Jan 14, 2020
Ex-Nation

Postby Dathiri » Tue Jan 14, 2020 6:32 am

Dathiri's currency is nominally the Uvanshan Credit, which is a form of Fiat money. However, since the collapse of the Uvanshan League, the Uvanshan Credit is only truly used in the Uvanshan successor states that now exist over former Uvanshan territory. The Commonwealth of Dathiri largely operates under a barter based economy, most commonly based on the mean price of an item in Uvanshan Credits, though recently a push has been made to form a Dathirian standard currency. Calls have been made for it to be backed by Thirium, the main trading resource of Dathiri.
Last edited by Dathiri on Tue Jan 14, 2020 6:34 am, edited 1 time in total.

User avatar
Satuga
Ambassador
 
Posts: 1652
Founded: Mar 27, 2019
Ex-Nation

Postby Satuga » Tue Jan 14, 2020 6:36 am

Satuga is a nation heavily influenced by the US, which includes it's currency. So yes Satuga uses the $.
Alt-Acc: Kronotek.
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User avatar
Tellurem
Civil Servant
 
Posts: 9
Founded: Aug 14, 2019
Ex-Nation

Postby Tellurem » Tue Jan 14, 2020 7:01 am

The economy of the Roman Republic and its subsequent currency (or, more accurately, currencies) is a beast of an idea to tackle. Since the formation of the old Roman Republic, subsequent Roman Empire, and the restoration of the Republic, the currencies of the Romans were carried through precious metal coins that dually carried the political and economic power of Rome in their wake. However, with the rapid expansions of the Republic and the eventual unification of the lands of Terra in the year 1563 after the Birth of the Christ, the Roman economy became increasingly stagnant and struggled to match the demands of millions of peoples spread across disparate continents and ethnic groups.

The Senate approved the "microcosmization" of the Roman economy along designated geopolitical lines, with areas such as the province of Serica (or Northern China) being allowed to maintain a local currency that was only dependent upon the Rome-centered, premiere currency. This system of junior currencies being ultimately tied to the chief Roman monetary value allowed a degree of economic autonomization and comfortable levels of monetary flux that would be otherwise catastrophic to the Roman bureaucracy.

The advent of technology analogous to the internet in the eighteenth century after the Birth of the Christ eventually allowed for the speciation of currencies that found value moreso within the anonymity of cyberspace than within the many webs of monetary intrigue found in real life. These cybercurrencies were somewhat regulated by the Senate in similarity with that of physical currencies, but were eventually deregulated with the expansion of the Roman Republic into multiple planetary bodies after the realizations of their potential worth and logistical value when left unrestricted.

In the modern day, the Roman Republic maintains this three-layered system, with the Roman currency of Terra holding supreme over all other currencies in the Republican demesne. Even so, many provinces and sectors of the Republic maintain their own currencies that are either backed by the merit of their administrations or the goods and services they offer. Cybercurrency is also present as a means to stimulate private interests, even if sometimes cultivating an underground movement that sidesteps Republic laws.
ROMA INVICTA.
SENATUS POPULUSQUE ROMANUS
The "Space Rome" in a total, unadulterated fashion. Puppet of Menschlicher Sternenstaat, although not necessarily in the same continuity.

User avatar
Ivory Coasts
Spokesperson
 
Posts: 150
Founded: Oct 23, 2019
Psychotic Dictatorship

Postby Ivory Coasts » Tue Jan 14, 2020 11:20 am

The Ivorian stwa is pegged to the Euro, as well as its own gold reserves
........
EMPIRE of the IVORY COASTS
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Dagnia
Senator
 
Posts: 3889
Founded: Jul 27, 2004
Scandinavian Liberal Paradise

Postby Dagnia » Tue Jan 14, 2020 11:53 am

Dagnia's main currency, the Zlotyj (literally "Golden" and pluralized as "Zlotyje") is backed by gold held by our Federal Reserve Bank (which unlike the US version is both actually federal and a reserve). The second most common currency is the Dzinar, issued by a consortium of Dagnian industry and backed by Dagnian production. Various crypto and private currencies exist (a common joke is that Dagnian Tire Money, issued by a store that sells way more than just tires is the official currency), but by law the issuer must convert or sell them as Zlotyje on request of the person holding them.
Logikie: [Dagnia seems like] some weird type of zen-fascism/hippy nazi state

Epstein didn't kill himself

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