[PRE-SUBMISSION] Increasing Trade and Prosperity

[New Xenopolis]

[Advancement of Industry / Commercial Enterprise]

I have asked the GenSec for a ruling on this text's legality, in this thread.

This Most August World Assembly,

Mindful that member nations can, and indeed may continue to do, choose to keep their national currencies, even if a stronger currency from a stronger economic bloc is available for them to join.

Aware that members also have the freedom to do the opposite, and freely choose to join an economic union, strengthening themselves and their partners in the process.

Declaring that few activities are as conductive to leaps in civilizational progress as international commerce: cultural and technological exchanges that inexorably flow from it are essential driving forces for the creation and spread of wealth and knowledge, as well as for the dissipation of prejudices.

Convinced that international trade involving a single, solid, and strongly backed currency shall become considerably easier than what would be achievable with a multitude of currencies: when the prices of international goods and services can effectively be measured against one unified international standard, comparative advantages become immediately obvious, enormously increasing economic efficiency in trading.

1. Creates the World Assembly Standard Unit Note (SUN), a multi-purpose currency to be utilized in a variety of situations, including but not limited to:

1. Legal tender for international transactions between persons, corporations and nations which desire greater efficiency through standardization.
2. Compulsory legal tender for all financial operations made by the World Assembly and its committees.

2. Creates the Trade Commission (TC), tasked with:

1. Ensuring and maintaining adequate and universal availability of the SUN, backed and guaranteed by the totality of General Fund resources, plus all other WA extant revenue sources.
2. Creating and maintaining all the rules, operations and institutions it deems necessary, or as the World Assembly should further direct it in the future, in order to maintain the SUN as a stable currency, which promotes the prosperity of the peoples it affects.
3. Being present within all WA committees, extant or future, in order to coordinate and streamline their financial activities using the SUN.
4. Expanding the mission of both the World Assembly Numismatics Authority (WANA) and the International Measurements Institute (IMI) to include the SUN, namely, in what regards reliable conversion tables based on the free worldwide market of currencies, banknote designs, minting and anti-counterfeiting measures.

3. Nothing in this resolution shall restrict the freedom of any member state to choose to utilize the SUN as its single currency, henceforth creating a monetary union among the member states so choosing, provided the member state meets and maintains:

1. Financial and budgetary standards set by the TC, with an overriding concern for the stability of the universe of transactions realized in the SUN, and the prosperity of the peoples it affects.
2. Other standards the World Assembly should find necessary and proper in future resolutions.

4. The principle of national sovereignty enjoins the TC to be equitably mindful, in all its actions, of the prosperity and freedoms of member states which:

1. Are able to, and freely choose to join the monetary union.
2. Being in the monetary union, freely choose to leave it.
3. Choose to not, or to never join the monetary union.

5. To further the aims of Section 4, each member state outside the monetary union is free to impose a floating cap on the amount of SUNs that can be converted into its own national currency at any given time, provided the cap is calculated strictly based on the necessity that the enormous worldwide resources designated in SUNs should not, and indeed shall not, overwhelm any amount the member state could back up with assets designated in its own national currency.

6. Member states shall not forbid, in what regards the SUN, nor its possession, nor its usage, in accordance with:

1. The aforementioned situations cited in Section 1.
2. Situations the World Assembly may find proper in future resolutions.

7. As long as full accordance with the standards referred to in this resolution are attained and maintained, the WA strongly encourages every member state to join the SUN's monetary union, so as to further strengthen themselves and the union, and through the union increase international commerce, efficiency, and universal prosperity.

8. Exhorts all member states, irrespective of the SUN's adoption as a single currency or not, to attain and maintain sound fiscal, financial, and budgetary policies.

This Most August World Assembly,

Noting that an immense universe of projects supported by the WA are dependent on financial transactions, such as the education of disadvantaged children, supporting healthcare and housing in poor countries and preventing radiological accidents, to give but a few examples,

Mindful that member nations can, and indeed do, keep their national currencies even if a stronger one from a stronger economic bloc is available for them to join; and desiring a currency with adequate and universal availability, backed and guaranteed by humongous and diverse resources, that would serve as an universal liquidity reserve for every contributing member nation, should it find itself in times of public calamity and despair,

Reaffirming its concern "that the conversion of values between systems will likely have undesirable rounding-based errors from arithmetical processes" and that "an effective, neutral and mathematically intuitive unit chosen for its precision, neutrality and intuitiveness" is welcome for international financial transactions,

1. Creates the World Assembly Standard Unit Note (SUN) as a multi-purpose currency to be utilized in a variety of situations, including but not limited to:

1. Legal tender for international transactions between persons, corporations and nations which desire greater efficiency through standardization.
2. Compulsory legal tender for all financial operations made by the World Assembly and its committees.

2. Creates the Trade Commission Bank (TCB), tasked with:

1. Ensuring and maintaining adequate and universal availability of the SUN, backed and guaranteed by the totality of General Fund resources, plus all other WA extant revenue sources.
2. Creating and maintaining all the rules, operations and institutions it deems necessary, or as the World Assembly should further direct it in the future, in order to maintain the SUN as a stable currency, which promotes the prosperity of the peoples it affects.
3. Being present within all WA committees, extant or future, in order to coordinate and streamline their financial activities using the SUN.
4. Expanding the mission of both the World Assembly Numismatics Authority (WANA) and the International Measurements Institute (IMI) to include the SUN, namely, in what regards reliable conversion tables, banknote designs, minting and anti-counterfeiting measures.

3. Member states shall not forbid, in what regards the SUN, its:

1. Possession.
2. Conversion into their own currency.
3. Usage, in accordance with:
   
   1. The aforementioned situations cited in Section 1.
   2. Situations the World Assembly may find proper in future resolutions.

4. Nothing in this resolution shall restrict the freedom of any member state to utilize the SUN as its only currency, provided the member state meets and maintains financial and budgetary standards set by the TCB, as well as other standards the World Assembly should find necessary and proper, with an overriding concern for the stability of the universe of transactions realized in the SUN, and the prosperity of the peoples it affects.

1. As long as full accordance with this section is maintained, the WA strongly encourages every member state to utilize the SUN as its single currency, in order to increase international commerce, efficiency, and subsequent prosperity.

5. Should any interpretation of this resolution be found in contradiction with any previous extant WA law, the previous extant WA law shall prevail.

This Most August World Assembly,

Noting that an immense universe of projects supported by the WA are dependent on financial transactions, such as the education of disadvantaged children, supporting healthcare and housing in poor countries and preventing radiological accidents, to give but a few examples,

Reaffirming its concern "that the conversion of values between systems will likely have undesirable rounding-based errors from arithmetical processes" and that "an effective, neutral and mathematically intuitive unit chosen for its precision, neutrality and intuitiveness" is also welcome for international financial transactions,

Noting extreme mathematical accuracy in financial transactions will foster efficiency, international commerce, and subsequent prosperity,

1. Creates the World Assembly Standard Unit Note (SUN) as a multi-purpose currency to be utilized in a variety of situations, including but not limited to:

1. Legal tender for international transactions between persons, corporations and nations which desire extreme mathematical accuracy, by reducing conversion confusion amongst the universe of WA currencies.
2. Compulsory legal tender for all financial operations made by the World Assembly and its committees.

2. Creates the Trade Commission Bank (TCB), tasked with:

1. Ensuring and mantaining adequate and universal availability of SUN, backed and guaranteed by the totality of General Fund resources, plus all other WA extant revenue sources.
2. Creating and maintaining all the rules, operations and institutions it deems necessary, or as the World Assembly should further direct it in the future, in order to maintain the SUN as a stable currency, which promotes the prosperity of the peoples it affects.
3. Creating subdivisions of itself within the Office of Building Management, General Accounting Office, World Health Authority, Health Research and Development Division, International Humanitarian Aid Coordination Committee, International Food Welfare Organisation, Emergency Crop Programme, International Trade Administration, Epidemic and Pandemic Alert and Response Centre, World Microcredit Foundation, as well as every other extant or future WA Commission dealing in WA financial affairs, in order to coordinate and streamline their financial activities using the SUN.
4. Expanding the mission of both the World Assembly Numismatics Authority (WANA) and the International Measurements Institute (IMI) to include the SUN, namely, in what regards reliable conversion tables, banknote designs, minting and anti-counterfeiting measures.

3. Member states shall not forbid, in what regards SUN, its:

1. Possession.
2. Conversion into their own currency.
3. Usage, in accordance with:
   
   1. The aforementioned situations cited in Section 1.
   2. Situations the World Assembly may find proper in future resolutions.

4. Should any interpretation of this resolution be found in contradiction with any previous extant WA law, the previous extant WA law shall prevail.

5. Nothing in this resolution shall restrict the freedom of any member state to utilize the SUN as its only currency, provided the member state meets and maintains financial and budgetary standards set by the TCB, as well as other standards the World Assembly should find necessary and proper, with an overriding concern for the stability of the universe of transactions realized in SUN, and the prosperity of the peoples it affects.

1. As long as full accordance with this section is maintained, the WA strongly encourages every member state to utilize the SUN as its single currency, in order to increase international commerce, efficiency, and subsequent prosperity.

This Most August World Asssembly,

NOTING that an immense universe of projects supported by the WA are dependent on financial transactions, such as the education of disadvantaged children, supporting healthcare in poor countries and preventing radiological accidents, to give but a few examples,

REAFFIRMING ITS CONCERN "that the conversion of values between systems will likely have undesirable rounding-based errors from arithmetical processes" and that "an effective, neutral and mathematically intuitive unit chosen for its precision, neutrality and intuitiveness" is also welcome for international financial transactions,

NOTING extreme mathematical accuracy in financial transactions will foster efficiency, international commerce and subsequent prosperity,

1. Creates the World Assembly Standard Unit Note (SUN) as a multi-purpose currency to be used in a variety of situations, including but not limited to:

1. Legal tender for all financial operations made by the World Assembly and its committees.
2. Legal tender for transactions between nations which desire extreme mathematical accuracy by reducing conversion confusion amongst the universe of WA currencies.

2. Creates the World Assembly Trade Commission Bank (WATCB), tasked with:

1. Creating and maintaining all the rules, operations and institutions it deems necessary, or as the World Assembly should further direct it in the future, in order to maintain the SUN as a stable currency, which promotes the prosperity of the peoples it affects.
2. Creating subdivisions of itself within the Office of Building Management, General Accounting Office, World Health Authority, Health Research and Development Division, International Humanitarian Aid Coordination Committee, International Food Welfare Organisation, Emergency Crop Programme, International Trade Administration, Epidemic and Pandemic Alert and Response Centre, World Microcredit Foundation, as well as every other extant or future WA Comission dealing in WA financial affairs, in order to coordinate and streamline their financial activities using the SUN.
3. Expanding the mission of both the World Assembly Numismatics Authority (WANA) and the International Measurements Institute (IMI) to include the SUN, namely, in what regards measures of reliable conversion tables, minting and anti-counterfeiting.

3. Should any interpretation of this resolution be found in contradiction with any previous extant WA law, the previous extant WA law shall prevail.

4. Nothing in this resolution shall restrict the freedom of any nation to utilize the SUN as its only currency, provided it meets and maintains financial and budgetary standards set by the World Assembly Trade Commission Bank, as well as other standards the World Assembly should find necessary and proper, with an overriding concern for the stability of the universe of transactions realized in SUN, and the prosperity of the peoples it affects.

[New Xenopolis]

I have asked the GenSec for a ruling on this text's legality, in this thread.

---

Precedents in favor of this text's legality below:

A WA currency is against Proposal rules

Not exactly. Technically, a clever enough person could manage such a beast, but it's like navigating a mine field. On a pogo-stick. While drunk. And blindfolded.

The Secretariat has ruled proposals to create a universal currency to be illegal for adoption by this Assembly.

Aleksei-kan Volkov
Imperial Chiefdom of Krioval

No, they're just really hard to do legally.

Not exactly. Technically, a clever enough person could manage such a beast, but it's like navigating a mine field. On a pogo-stick. While drunk. And blindfolded.

---

In the past, a proposal establishing a Global Currency was ruled legal, and allowed to proceed to a vote.

International Trade Currency
A resolution to reduce barriers to free trade and commerce.

Category: Free Trade
Strength: Mild
Proposed by: Remba

Description: AWARE of the multitude of currencies existing in the world;

CONCERNED with the difficulty in negotiating multi-national trades requiring numerous currencies being exchanged;

FIRMLY BELIEVING that easing of trade difficulties will help all peoples of the world and all nations of the world;

RESPECTING the national sovereignty of member nations and their attachment to their own, native currencies;

ESTABLISHES the World Bank which will standardize international exchange rates though a common free market exchange;

CREATES the International Credit as the standard for all international trade;

CHARGES the World Bank with the responsibility of creating a free market for the exchange of local national currency to the International Credit;

IN LIEU OF direct UN funding:

-PERMITS the World Bank to assess minimal fees on exchanges, but limits those fees to the minimum needed to maintain the World Bank;

-ELIMINATES these fees should alternative funding be passed by the UN;

REQUIRES all member nations to accept and honor the rates posted by the World Bank;

STRONGLY URGES member nations to use the International Credit and the World Bank for all international trade;

URGES corporations to use the International Credit and the World Bank for all international trade;

ALLOWS private citizens to make use of the International Credit and the World Bank;

RECOMMENDS but does not require member nations to switch to the International Credit for all intra-national exchange as well.

Frisbeeteria
25-05-2007, 04:53
Notice that I'm not endorsing the proposal, only stating that it's legal.

The prohibition of universal currency is a Game Mechanics one: the WA can't force nations to change their game side customisable fields. But creating an international currency is not in itself illegal and has been tried before. Permitting WA nations to adopt the currency also doesn't seem to be disallowed. What's disallowed (or has been in the past, anyway) is forcing nations to adopt it. So the "required primary" aspect would be illegal - but if it were not required to be "primary", then I don't see what's illegal.

[New Xenopolis]

(reserved for a future FAQ)

[Tinhampton]

Whose puppet are you? Most new nations do not draft a WA proposal suggesting a global currency on the forums, quote GA#88 "WA Numeration and Units Act" twice within that proposal's text (without attribution, may I add), and cite a twelve-year-old post by a long-retired moderator to back up their point, all within thirty minutes of joining the site.

In any event, this resolution is illegal for violating the Committees rule, inasmuch as it fails to create "a measurable burden - one more strenuous than simply filing paperwork" regarding member state interaction with the WATCB.

[New Xenopolis]

this resolution is illegal for violating the Committees rule, inasmuch as it fails to create "a measurable burden - one more strenuous than simply filing paperwork" regarding member state interaction with the WATCB.

a WA proposal suggesting a global currency

Hi! Well, it does create a global currency for obligatory usage on certain WA financial transactions.

[Tinhampton]

this resolution is illegal for violating the Committees rule, inasmuch as it fails to create "a measurable burden - one more strenuous than simply filing paperwork" regarding member state interaction with the WATCB.

a WA proposal suggesting a global currency

Hi! Well, it does create a global currency for obligatory usage on certain WA financial transactions.

The SUN is not mandatory for any transaction. Declaring one particular currency "legal tender" in a context does not mean it is the only currency that can be used in that context, to the exclusion of all others: Bank of England notes coexist alongside notes issued by private banks, such as Clydesdale Bank and the Royal Bank of Scotland, in Scotland and both are considered legal tender in Scotland.

[New Xenopolis]

It does create a global currency for obligatory usage on certain WA financial transactions.

The SUN is not mandatory for any transaction. Declaring one particular currency "legal tender" in a context does not mean it is the only currency that can be used in that context, to the exclusion of all others: Bank of England notes coexist alongside notes issued by private banks, such as Clydesdale Bank and the Royal Bank of Scotland, in Scotland and both are considered legal tender in Scotland.

Thank you, Ambassador. I will tinker with the language, so it should be clear that the SUN is to be for obligatory usage on certain WA financial transactions, as it is my intent.

[New Xenopolis]

1. Creates the World Assembly Standard Unit Note (SUN) as a multi-purpose currency to be used in a variety of situations, including but not limited to:

1. Legal tender for compulsory usage on all financial operations made by the World Assembly and its committees.
2. Legal tender for transactions between nations which desire extreme mathematical accuracy by reducing conversion confusion amongst the universe of WA currencies.

Would such language allay that specific concern?

[Tinhampton]

1. Creates the World Assembly Standard Unit Note (SUN) as a multi-purpose currency to be used in a variety of situations, including but not limited to:

1. Legal tender for compulsory usage on all financial operations made by the World Assembly and its committees.
2. Legal tender for transactions between nations which desire extreme mathematical accuracy by reducing conversion confusion amongst the universe of WA currencies.

Would such language allay that specific concern?

What "measurable burden... more strenuous than simply filing paperwork" on member state interaction with a committee will this create?

Even if it does create one, what happens if...
1: ...the WA makes a payment in SUNs to a member state which does not allow the use of SUNs for transactions where it is not required, and/or forbids exchanging one currency to another?
2: ...a member state without access to SUNs is required to pay membership dues, fines or similar in SUNs to the WA?

[New Xenopolis]

1: ...the WA makes a payment in SUNs to a member state which does not allow the use of SUNs for transactions where it is not required, and/or forbids exchanging one currency to another?

Is the World Assembly designating the SUN as Legal Tender not enough? It would seem to me that Legal Tender is... legal. Meaning disallowing its usage/conversion would be forbidden.

2: ...a member state without access to SUNs is required to pay membership dues, fines or similar in SUNs to the WA?

I see where your argument goes. I will meditate on how to best close that loophole. Maybe an addition to 2). Thank you, Ambassador.

[New Xenopolis]

(updated)

[Gruenberg]

Not exactly. Technically, a clever enough person could manage such a beast, but it's like navigating a mine field. On a pogo-stick. While drunk. And blindfolded.

I wouldn't worry. The customizable field violations rule has just been overturned so this should no longer be a concern anyway. :)

[New Xenopolis]

This Most August World Assembly,

Noting that an immense universe of projects supported by the WA are dependent on financial transactions, such as the education of disadvantaged children, supporting healthcare and housing in poor countries and preventing radiological accidents, to give but a few examples,

Reaffirming its concern "that the conversion of values between systems will likely have undesirable rounding-based errors from arithmetical processes" and that "an effective, neutral and mathematically intuitive unit chosen for its precision, neutrality and intuitiveness" is also welcome for international financial transactions,

Noting extreme mathematical accuracy in financial transactions will foster efficiency, international commerce, and subsequent prosperity,

1. Creates the World Assembly Standard Unit Note (SUN) as a multi-purpose currency to be utilized in a variety of situations, including but not limited to:

1. Legal tender for international transactions between persons, corporations and nations which desire extreme mathematical accuracy, by reducing conversion confusion amongst the universe of WA currencies.
2. Compulsory legal tender for all financial operations made by the World Assembly and its committees.

2. Creates the Trade Commission Bank (TCB), tasked with:

1. Ensuring and mantaining adequate and universal availability of SUN, backed and guaranteed by the totality of General Fund resources, plus all other WA extant revenue sources.
2. Creating and maintaining all the rules, operations and institutions it deems necessary, or as the World Assembly should further direct it in the future, in order to maintain the SUN as a stable currency, which promotes the prosperity of the peoples it affects.
3. Creating subdivisions of itself within the Office of Building Management, General Accounting Office, World Health Authority, Health Research and Development Division, International Humanitarian Aid Coordination Committee, International Food Welfare Organisation, Emergency Crop Programme, International Trade Administration, Epidemic and Pandemic Alert and Response Centre, World Microcredit Foundation, as well as every other extant or future WA Commission dealing in WA financial affairs, in order to coordinate and streamline their financial activities using the SUN.
4. Expanding the mission of both the World Assembly Numismatics Authority (WANA) and the International Measurements Institute (IMI) to include the SUN, namely, in what regards reliable conversion tables, banknote designs, minting and anti-counterfeiting measures.

3. Member states shall not forbid, in what regards SUN, its:

1. Possession.
2. Conversion into their own currency.
3. Usage, in accordance with:
   
   1. The aforementioned situations cited in Section 1.
   2. Situations the World Assembly may find proper in future resolutions.

4. Should any interpretation of this resolution be found in contradiction with any previous extant WA law, the previous extant WA law shall prevail.

5. Nothing in this resolution shall restrict the freedom of any member state to utilize the SUN as its only currency, provided the member state meets and maintains financial and budgetary standards set by the TCB, as well as other standards the World Assembly should find necessary and proper, with an overriding concern for the stability of the universe of transactions realized in SUN, and the prosperity of the peoples it affects.

1. As long as full accordance with this section is maintained, the WA strongly encourages every member state to utilize the SUN as its single currency, in order to increase international commerce, efficiency, and subsequent prosperity.

[Tinhampton]

Why is Article 2c necessary? No other committee creates clones of itself in other committees. Just require that the TCB co-ordinate with all WA committees involved somehow with finance.

Why is use of the SUN more "mathematically accurate" than other currencies? "Reliable conversion tables" must exist for the SUN, thereby necessitating the conversion of currencies for nations that do not regularly use the SUN, even though non-SUN currencies must ordinarily be converted for international transactions.

Why can not any nation adopt the use of the SUN, as occurred with the US dollar after Zimbabwean hyperinflation in

[New Xenopolis]

Why is Article 2c necessary? No other committee creates clones of itself in other committees. Just require that the TCB co-ordinate with all WA committees involved somehow with finance.

First of all I thank the Ambassador for the engagement, do know that it is deeply appreciated.

The above suggestion is fine and germane. And saves character space.

Why is use of the SUN more "mathematically accurate" than other currencies? "Reliable conversion tables" must exist for the SUN, thereby necessitating the conversion of currencies for nations that do not regularly use the SUN, even though non-SUN currencies must ordinarily be converted for international transactions.

1. Creates the World Assembly Standard Unit Note (SUN) as a multi-purpose currency to be utilized in a variety of situations, including but not limited to:

Legal tender for international transactions between persons, corporations and nations which desire extreme mathematical accuracy, by reducing conversion confusion amongst the universe of WA currencies. greater efficiency through stardardization.

Is the above better? The SUN is the Standard Unit, after all.

Before I proceed, I would like to clarify that it is not in the slightest my intention, that this text would become the only and last word in what regards universal finance; what I have in mind is something more akin to the "World Health Authority", a structure from which a myriad of other possibilities could emerge:

World Health Authority

1. Access to Life-Saving Drugs
   
   1. International Drug Education
2. Epidemic Response Act
   
   1. Infectious Disease Control
   2. Rights Of The Quarantined
   3. Proper Hygiene for Medical Instruments
   4. Reducing Disease Vectors
3. Quality in Health Services
4. Medical Provisions in Blockade
5. Biomedical Recipient Rights
6. Biomedical Innovation Org
7. Right to Adequate Sanitation
8. Nuclear Testing Protocol
9. Reproductive Education Act
10. Access to Abortion
11. Epidemic Investigation Act
12. Access to Effective Medications
13. Universal STI Counteraction
14. Limiting Animal Pathogens

That said, I wish that the TCB and the SUN would become the foundation upon which other legislative ideas could be built, but without specifying them in the text itself, as it would be impossible to fit an entire universe of ideas within the character limit. Hence the many references to "future legislation" or some variation thereof.

(OOC: two examples of ideas which could be debated: issuance of WA bonds, and something like the RL I.M.F.)

Why can not any nation adopt the use of the SUN, as occurred with the US dollar after Zimbabwean hyperinflation in

OOC: Well, for the same reasons not just any nation can just uniterally join the Euro outside the EU. Not even just any EU nation can join the Eurozone just by snapping its fingers, without first attaining and maintaining stringent financial and budgetary policies. When those are circumvented, well, just see what happened to Greece, and the rest of the EU by extension. As for the example you gave, Zimbabwe, it is not unique in that regard: I believe Panama and Ecuador also have the USD as their only currency. However, and I may be corrected of this: the United States Federal Reserve System is not the guarantor of these nations' financial systems; they are pretty much on their own. Those nations in order to adopt the USD as their single currency had to, by themselves, build sufficient reserves in USD in order to run their entire financial systems, from government bonds to the average citizen buying candy on the street. I believe the same happens in Europe, with the Euro, in Montenegro and Kosovo (much to the EU's chagrin). In all these cases, a financial collapse in any of these nations would not cause major ripples neither in the US nor the EU. The only "foreign" nations that utilize the Euro with the EU's blessing are Monaco, San Marino, Andorra and the Vatican, which are, well, microstates.

IC: Once more, I thank the ambassador for the contributions.

[New Xenopolis]

I would appreciate input from other Delegations, as well.

[Kenmoria]

I would appreciate input from other Delegations, as well.

“Your wish is my command. The word ‘also’ is unnecessary in the preambulatory clause beginning with ‘reaffirming’, since only one thing is being welcomed. Clauses 3, 5 and 5a lack ‘the’ before ‘SUN’, which is used elsewhere and has better flow. Clause 4 would make more sense going after clause 5, since clause 4 is interpretative across the entire proposal. Clauses 1 and 2 are written as sentence fragments, whereas clauses 3, 4, and 6 are written as full sentences. This is inconsistent, and I would recommend changing clauses 1 and 2 to match.”

[Attempted Socialism]

Ambassador Pride: "We cannot see what utility another currency has when member nations who already donate to the General Fund would have to convert into this SUN, and for the World Assembly to spend the funds in member nations, would have to convert it back. The drafting delegation presents the conclusion that this currency would provide greater efficiency, but there are quite simply no supporting arguments for that conclusion. The drafting delegation has not done anything to lay a solid foundation for their proposal."

[New Xenopolis]

The word ‘also’ is unnecessary in the preambulatory clause beginning with ‘reaffirming’, since only one thing is being welcomed. Clauses 3, 5 and 5a lack ‘the’ before ‘SUN’, which is used elsewhere and has better flow. Clause 4 would make more sense going after clause 5, since clause 4 is interpretative across the entire proposal.

Thank for your engagement, Ambassador. All suggestions above have been found excellent, and I shall incorporate the text. Thank you.

Clauses 1 and 2 are written as sentence fragments, whereas clauses 3, 4, and 6 are written as full sentences. This is inconsistent, and I would recommend changing clauses 1 and 2 to match.”

(OOC: For my RL ADHD dyslexic point of view, 1 and 2 are more readable as they are now, and I'd like to seek them as such for the time being)

Ambassador Pride: "We cannot see what utility another currency has when member nations who already donate to the General Fund would have to convert into this SUN, and for the World Assembly to spend the funds in member nations, would have to convert it back. The drafting delegation presents the conclusion that this currency would provide greater efficiency, but there are quite simply no supporting arguments for that conclusion. The drafting delegation has not done anything to lay a solid foundation for their proposal."

I also thank the Ambassador for the engagement, it is deeply valued. As for your observations, they draw my attention to what was up to now, an implied assumption. It is indeed most pertinent, and I shall clarify it on the preamble of the next draft; I can even envision the possibility of it becoming the main argument as this text evolves, and it is this:

The SUN is also meant to serve as a liquidity reserve for the entire WA-verse.

Let me exemplify this through this minimalist scenario: Let's say that the proud nation of Bigeconomistan has been a steady source of donations to General Fund for the last, let's say, thirty years. Bigeconomistan's government never thought it was troublesome to convert its WA-donations to the SUN, seeing it as clerical, routine actions of a government with a big economy, such as Bigeconomistan's. Bigeconomistan's donations were, after all (in a vast proportion), spent in other nations, less fortunate nations, a process which was greatly streamlined since the day of the SUN's inception through the WA.

But one day disaster struck Bigeconomistan: a supermassive volcano, a massive meteor, the alignment of stars Cthulhu had been waiting for him to wake up, typhoons, Ragnarök, nobody knows for sure. The fact is that Bigeconomistan and its economy are now in shambles, a disaster, a true basket case.

It would make no sense for Bigeconomistan (nor for the WA), to simply have a big part of its massive donations returned to it in its own currency, since it would be devalued senseless and therefore completely useless. Here comes the SUN: even if Bigeconomistan's face value is now nil, the original value it had when donated to the General Fund has been preserved through the SUN!

[The] SUN [is] backed and guaranteed by the totality of General Fund resources, plus all other WA extant revenue sources.

So, the plentiful donations Bigeconomistan has wisely made to the WA through the years, could be returned to Bigeconomistan in its darkest hour, with its value preserved through the TCB's guarantees, enabling Bigeconomistan once more to occupy its righteous and dignified place among the WA nations.

[New Xenopolis]

This Most August World Assembly,

Noting that an immense universe of projects supported by the WA are dependent on financial transactions, such as the education of disadvantaged children, supporting healthcare and housing in poor countries and preventing radiological accidents, to give but a few examples,

Mindful that member nations can, and indeed do, keep their national currencies even if a stronger one from a stronger economic bloc is available for them to join; and desiring a currency with adequate and universal availability, backed and guaranteed by humongous and diverse resources, that would serve as an universal liquidity reserve for every contributing member nation, should it find itself in times of public calamity and despair,

Reaffirming its concern "that the conversion of values between systems will likely have undesirable rounding-based errors from arithmetical processes" and that "an effective, neutral and mathematically intuitive unit chosen for its precision, neutrality and intuitiveness" is welcome for international financial transactions,

1. Creates the World Assembly Standard Unit Note (SUN) as a multi-purpose currency to be utilized in a variety of situations, including but not limited to:

1. Legal tender for international transactions between persons, corporations and nations which desire greater efficiency through standardization.
2. Compulsory legal tender for all financial operations made by the World Assembly and its committees.

2. Creates the Trade Commission Bank (TCB), tasked with:

1. Ensuring and maintaining adequate and universal availability of the SUN, backed and guaranteed by the totality of General Fund resources, plus all other WA extant revenue sources.
2. Creating and maintaining all the rules, operations and institutions it deems necessary, or as the World Assembly should further direct it in the future, in order to maintain the SUN as a stable currency, which promotes the prosperity of the peoples it affects.
3. Being present within all WA committees, extant or future, in order to coordinate and streamline their financial activities using the SUN.
4. Expanding the mission of both the World Assembly Numismatics Authority (WANA) and the International Measurements Institute (IMI) to include the SUN, namely, in what regards reliable conversion tables, banknote designs, minting and anti-counterfeiting measures.

3. Member states shall not forbid, in what regards the SUN, its:

1. Possession.
2. Conversion into their own currency.
3. Usage, in accordance with:
   
   1. The aforementioned situations cited in Section 1.
   2. Situations the World Assembly may find proper in future resolutions.

4. Nothing in this resolution shall restrict the freedom of any member state to utilize the SUN as its only currency, provided the member state meets and maintains financial and budgetary standards set by the TCB, as well as other standards the World Assembly should find necessary and proper, with an overriding concern for the stability of the universe of transactions realized in the SUN, and the prosperity of the peoples it affects.

1. As long as full accordance with this section is maintained, the WA strongly encourages every member state to utilize the SUN as its single currency, in order to increase international commerce, efficiency, and subsequent prosperity.

5. Should any interpretation of this resolution be found in contradiction with any previous extant WA law, the previous extant WA law shall prevail.

[Comfed]

Opposed, on principle.

[Kingdom of Ostland]

NSD (NationStates Dollar) already exists in roleplay.

[New Xenopolis]

Opposed, on principle.

Would the Ambassador elaborate, so I can better understand your viewpoint?

[Potted Plants United]

OOC: Given that national currencies are generally speaking backed by the nation's central bank or national assets (like in RL gold reserves) or similar, requiring nations to allow another currency to be converted into theirs (3.b.) without apparently any say on the amount of currency converted, given how huge the WA is, the international currency conversion could easily overwhelm any amount the nation could back up with its assets, thus making said national currency valueless and likely crashing the nation's financial system.

And since you can't mandate the unit to be adopted by WA nations (without stepping on the toes of the rules) for their trade and whatever, it's pointless.

Not sure if requiring it be allowed to be used as legal tender in a nation doesn't also step on the toes of the rules, but I don't really care enough to look it up.

Opposed in any case. This is a solution looking to fix a nonexisting problem by creating a whole heap of new problems.

[Astrobolt]

OOC: Not an expert and relying on introductory macro here, but wouldn’t this proposal impact a nation’s ability to conduct monetary policy?