International Currency Act
A resolution to develop industry around the world.
Category: Advancement of Industry
Area of Affect: Protective Tariffs
Proposed by: Huskana
Description: The World Assembly
Recognizes that each nation contains their own form of currency, with each their own design and monetary value.
Aware of the transfer of funds necessary when changing monetary funds from one sovereign nation to another.
Concerned for the amount of WA Nations that exist, the amount of necessary work to process, audit, and transfer funds from one currency to another, to each of their own.
Believes that WA Nations are discouraged from trade due to formalities in trading currencies from different customs to each of several different nations.
Hereby,
Article I - Currency
a) Defines trade as an exchange of currency for a product or service, whether international or domestic.
b) Establishes the International Monetary Currency (IMC).
c) Mandate that all international trade be required through the payment in IMC.
d) Exception to Clause C occurs when international trade occurs with any non-WA Nation that does not accept the use of IMC.
e) Encourages the use of IMC in domestic trade, although not required.
f) Clarifies that the WA Nation is not bounded to change its national currency to IMC.
g) Also Clarifies that although domestic trade is optional, but preferred, all international trade must be traded by use of IMC except in times of the declared exception.
h) Requires all WA Nations to contain safe and transferable methods for changing currencies from IMC to the national currency of the nation, vice versa, and any other currency exchange that the nation offers.
Article II - Value and Holdings
a) Establishes the General Assembly Economics Group (GAEG), to work with the tasks described.
b) Tasks GAEG with establishing the monetary value of the IMC based on principles of global trade, transfer values of other currencies to each other, and any other methods they deem worthy to consider for establishing value to IMC, as well as the printing and distributing of IMC.
c) Also Tasks GAEG with working with WA Nations in improving the value of their own national currency, logging the value of all WA Nations currencies by the same means as the IMC, as well as the WA Nation's reporting, and ensuring that each WA Nation has a substantial amount of IMC credits to be in stable compliance with this act.
A resolution to develop industry around the world.
Category: Advancement of Industry
Area of Affect: Protective Tariffs
Proposed by: Huskana
Description: The World Assembly
Recognizes that each nation contains their own form of currency, with each their own design and monetary value.
Aware of the transfer of funds necessary when changing monetary funds from one sovereign nation to another.
Concerned for the amount of WA Nations that exist, the amount of necessary work to process, audit, and transfer funds from one currency to another, to each of their own.
Believes that WA Nations are discouraged from trade due to formalities in trading currencies from different customs to each of several different nations.
Hereby,
Article I - Currency
a) Defines trade as an exchange of currency for a product or service, whether international or domestic.
b) Establishes the International Monetary Currency (IMC).
c) Mandate that all international trade be required through the payment in IMC.
d) Exception to Clause C occurs when international trade occurs with any non-WA Nation that does not accept the use of IMC.
e) Encourages the use of IMC in domestic trade, although not required.
f) Clarifies that the WA Nation is not bounded to change its national currency to IMC.
g) Also Clarifies that although domestic trade is optional, but preferred, all international trade must be traded by use of IMC except in times of the declared exception.
h) Requires all WA Nations to contain safe and transferable methods for changing currencies from IMC to the national currency of the nation, vice versa, and any other currency exchange that the nation offers.
Article II - Value and Holdings
a) Establishes the General Assembly Economics Group (GAEG), to work with the tasks described.
b) Tasks GAEG with establishing the monetary value of the IMC based on principles of global trade, transfer values of other currencies to each other, and any other methods they deem worthy to consider for establishing value to IMC, as well as the printing and distributing of IMC.
c) Also Tasks GAEG with working with WA Nations in improving the value of their own national currency, logging the value of all WA Nations currencies by the same means as the IMC, as well as the WA Nation's reporting, and ensuring that each WA Nation has a substantial amount of IMC credits to be in stable compliance with this act.